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Thread: 800k to 850k, can find a condo near Novena MRT?

  1. #1
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    Wink 800k to 850k, can find a condo near Novena MRT?

    hi Everyone.

    with budget of around 800k (the most i can stretch maybe is 850k), for own stay, do u think is it possible to find a 2 bedroom unit within walking distance Novena MRT? I find those condos in Moulmein Rise very appealing.

    Welcome all to comment (even if u insist that with my little budget, i m dreaming)


  2. #2
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    Default 850K for novena / newton

    Hi

    I have been eye-ing this area for more than a year. Despite price drops, I still can't find anything within my budget(900psf, ~$1m) and sensible design/floorspace and free-hold.

    Many new development have IMHO non-liveable, poorly design....
    I can't even put std fridge, std WM.... in some units...

    Those with better designs way way beyond 1k psf. Asked many times by many people to "tan ku ku", but I am still hopeful. Afterall, been waiting a year, can wait longer.

    BTW, went to see Newton Edge. Selling like hotcakes..almost sold out I heard... IMHO, not suitable for own stay.

    Regards

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    Quote Originally Posted by taggy
    hi Everyone.

    with budget of around 800k (the most i can stretch maybe is 850k), for own stay, do u think is it possible to find a 2 bedroom unit within walking distance Novena MRT? I find those condos in Moulmein Rise very appealing.

    Welcome all to comment (even if u insist that with my little budget, i m dreaming)

    I think it defend on how far is your walking limit + the age of the condo?

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    Quote Originally Posted by isaaclim
    I think it defend on how far is your walking limit + the age of the condo?
    I guess definition of "close by MRT" means walk normally within 10-15 mins limit without breaking a sweat. So, Thomson Euro, Park Infinia, Lincoln... would qualify. Condo like vutton is really pushing the limit - uphill, downhill, thru' hospital corridors....

    Even consider older ones like birmingham mansions.... but can't do. In 2 years' time when economy recovers, en-bloc nightmare....

    regards

  5. #5
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    Quote Originally Posted by repanse71
    Hi

    I have been eye-ing this area for more than a year. Despite price drops, I still can't find anything within my budget(900psf, ~$1m) and sensible design/floorspace and free-hold.

    Many new development have IMHO non-liveable, poorly design....
    I can't even put std fridge, std WM.... in some units...

    Those with better designs way way beyond 1k psf. Asked many times by many people to "tan ku ku", but I am still hopeful. Afterall, been waiting a year, can wait longer.

    BTW, went to see Newton Edge. Selling like hotcakes..almost sold out I heard... IMHO, not suitable for own stay.

    Regards
    Newton Edge only got 1 and 2 bedroom. For investment only! For own stay must choose something like Park Infinia.

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    Quote Originally Posted by repanse71
    I guess definition of "close by MRT" means walk normally within 10-15 mins limit without breaking a sweat. So, Thomson Euro, Park Infinia, Lincoln... would qualify. Condo like vutton is really pushing the limit - uphill, downhill, thru' hospital corridors....

    Even consider older ones like birmingham mansions.... but can't do. In 2 years' time when economy recovers, en-bloc nightmare....

    regards
    I think the Birmingham Mansions is attractive if lower priced. Location is quite good. Even if no enbloc, renovate it to your own specifications also good. Can enjoy staying there long time.

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    Quote Originally Posted by ahlahdin
    I think the Birmingham Mansions is attractive if lower priced. Location is quite good. Even if no enbloc, renovate it to your own specifications also good. Can enjoy staying there long time.
    Yes, it's a good place I hope to buy and stay long long, if no en-bloc risk.

    regards

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    Birmingham Mansions ... added this to my shortlist... but this one no 2bedroom unit... and also no unit for sale in propertyguru.... maybe every owner waiting for enbloc

    so now can only wait wait wait wait wait.... see if really 2009 the price can come down....

    by then maybe really can buy Moulmein Rise

    I also went to see Newton Edge... was quite tempted to buy the 700sqft unit....

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    Quote Originally Posted by taggy
    Birmingham Mansions ... added this to my shortlist... but this one no 2bedroom unit... and also no unit for sale in propertyguru.... maybe every owner waiting for enbloc

    so now can only wait wait wait wait wait.... see if really 2009 the price can come down....

    by then maybe really can buy Moulmein Rise

    I also went to see Newton Edge... was quite tempted to buy the 700sqft unit....
    The prices vary greatly among the 4 quarters by the x-junction - thomson road and newton. Most expensive is the quarter(1) where revenue house is, followed by (2)goldhill/UE, then (3)thomson-euro-birmingham and lastly (4)novena square.

    Base on budget, I only lookout for (2) and (3). (4) is too near hospitals/hospice for own stay. (4) is for investment to rent out to doctors?????

    Good luck to both of us.

    regards

  10. #10
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    Talking

    Quote Originally Posted by taggy
    Birmingham Mansions ... added this to my shortlist... but this one no 2bedroom unit... and also no unit for sale in propertyguru.... maybe every owner waiting for enbloc

    so now can only wait wait wait wait wait.... see if really 2009 the price can come down....

    by then maybe really can buy Moulmein Rise

    I also went to see Newton Edge... was quite tempted to buy the 700sqft unit....

    So why didn't you buy? Waiting for me to serve you then you buy? lolz...


    Pet

  11. #11
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    reason is bec 700 sqft may be a bit too small....
    and the price was around 1200psf, waiting for price to fall further.

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    hi taggy, "be patient".. perhaps you may want to have a view at this blog.. http://smartpropertybuyer.blogspot.c...l#comment-form

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    Quote Originally Posted by CondoSearch
    hi taggy, "be patient".. perhaps you may want to have a view at this blog.. http://smartpropertybuyer.blogspot.c...l#comment-form
    hi CondoSearch, thanks for the blog link... it is really informative...

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    i also have an interest in gettng one around Novena or balestier area...but the price still very steep at the moment...

    so will wait though not sure when and will the price this area come down...hope not tun ku ku haha ..

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    Quote Originally Posted by taggy
    reason is bec 700 sqft may be a bit too small....
    and the price was around 1200psf, waiting for price to fall further.
    Would be interested if the 753sq ft can get for $1100 psf

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    Quote Originally Posted by dtrax
    Would be interested if the 753sq ft can get for $1100 psf
    Price was ~1k psf during preview launch. Upon good response price went up, up,up...

    Prices for some condo launch still maintains, but with some reno vouchers. Woodsville 28???

    Off threat. Anyone following those ANAL-ysts' reports published in ST/BT...
    During good times, they project higher higher... During recession, they project greater gloom and doom... No accountability whatsoever... Really TCSS.
    I heard they are paid handsomely as well.

  17. #17
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    Quote Originally Posted by repanse71
    Price was ~1k psf during preview launch. Upon good response price went up, up,up...

    Prices for some condo launch still maintains, but with some reno vouchers. Woodsville 28???

    Off threat. Anyone following those ANAL-ysts' reports published in ST/BT...
    During good times, they project higher higher... During recession, they project greater gloom and doom... No accountability whatsoever... Really TCSS.
    I heard they are paid handsomely as well.
    LOL was referring to newton edge

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    Quote Originally Posted by dtrax
    LOL was referring to newton edge

    Hi there, When was it you went to Newton Edge? Which unit of the 753saft were you considering then? Currently only 3units available for the 753sqft.

    Also to comment on the reply you guys have mentioned earlier in the thread... Just like to share my personal thoughts and feelings about human greeds and mindset.

    Its always that little greed that we have that when we ought to be taking profits ended up having lesser or even incurring loses cos of greed and also due to our human nature of greed that we thought of having a little more savings that we often ended up paying more... In fact most of us are guilty of such acts including myself.

    if we do analyse TOPed projects & projects under construction carefully, the price indication are of a different level. TOPed project price level are motivated or demotivated by the market sentiments depending on individual owner's confidence in the particular moment while projects underconstruction are often priced in such a way that it is actually selling as a future price buying at current time. TOPed project have units available are defintely affected positive or negative basing of market changes while projects underconstruction do not have units available and will only very much affected by the market changes when the units are physically available to be affected if so we decided to call it.

    Take an example for projects underconstruction like Newton Edge. If current price @ $1100-$1300psf (AVG $1200psf) and will only TOP by 2nd qtr 2011 then in that case whatever happens in the market within the next two and a half year should relatively have no connections to the units as long as the loan was secured in the first place unless it so called sold with Deferred Payment Scheme. And relatively cos its bought @ future price means its being priced in consideration of the next two years of inflation rate. and if the market does take two and a half years to recover and by then Newton Edge TOP. What should be the rightful fair market value of Newton Edge? Market Competitiveness against neighbouring projects with similar types/sizes/tenure etc should also come in place. say being conservative about the pricing by then and we do a estimation to the market basing on the current so called bad market sentiment against projects like Park Infinia for example. The latest average transaction of Park Infinia since launch till today takes an avg pricing of 1400psf conservatively. And now we assume that the fair market value of Newton Edge be of the current avg price of Park Inifinia which is located in D11. on thaty basis there should be already an avg capital appreciation of $200psf. Even by being conservative by taking price indication of D9 using the guage of D11 with the consideration of market diorecovery in place yet pricing before market recovery; we clearly can see that we are looking at a property which have definite upside potential. Despite the fact of a price increment of 2% by developer, we are still able to enjoy a pretty good profit outt it. On that basis, do you think both the developer who did priced it at such unreasonable off-market price as well as the person who does recommended us the property be commented???

    Just my two cents worth with open-mind and positive thoughts on your earlier current discussion pertaining to price drops in Newton endge. I knew for sure there will be never similiar project asking any better then what Newton Edge is currently offering to us right this moment.


    Pet

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    Oh which ones are left? The last time I went there balance only left 3rd, 5th and the high floors and prices still around 11XX, I was looking for a buy at $1100psf at the time lol. Yes the prices are pretty attractive, location wise not bad but not the best. But looking ahead, prices for the property sector has still not taken a big hit and unless the prices are priced at a super attractive I would rather wait to get a more variety of choices at bargain prices a few Quarters down the road.

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    Quote Originally Posted by dtrax
    Oh which ones are left? The last time I went there balance only left 3rd, 5th and the high floors and prices still around 11XX, I was looking for a buy at $1100psf at the time lol. Yes the prices are pretty attractive, location wise not bad but not the best. But looking ahead, prices for the property sector has still not taken a big hit and unless the prices are priced at a super attractive I would rather wait to get a more variety of choices at bargain prices a few Quarters down the road.
    Warren Buffett's "buy when they's fear" holds true in this market.
    Many of my friends stash 2 years' worth of CPF installment for their purchase. I believe in 2 years' time, profits will be there. Esp for projects like Beacon Hieghts with OCBC tie-up, requiring cash/CPF 10% each, no installment till TOP. Any such tie-up for Newton Edge??? Or other property in the vacinity?

    Regards

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    Quote Originally Posted by repanse71
    Warren Buffett's "buy when they's fear" holds true in this market.
    Many of my friends stash 2 years' worth of CPF installment for their purchase. I believe in 2 years' time, profits will be there. Esp for projects like Beacon Hieghts with OCBC tie-up, requiring cash/CPF 10% each, no installment till TOP. Any such tie-up for Newton Edge??? Or other property in the vacinity?

    Regards
    Same but its 20% + %3 stamp duty upfront and no installment and payment till TOP

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    Quote Originally Posted by repanse71
    Warren Buffett's "buy when they's fear" holds true in this market.
    Many of my friends stash 2 years' worth of CPF installment for their purchase. I believe in 2 years' time, profits will be there. Esp for projects like Beacon Hieghts with OCBC tie-up, requiring cash/CPF 10% each, no installment till TOP. Any such tie-up for Newton Edge??? Or other property in the vacinity?

    Regards
    The sentence "Warren Buffett's "buy when they's fear" holds true in this market." is true but not at the current market. Look around, there are still many people holding cash waiting to buy, so in term of fear factor, it is not there yet and not the time to buy yet...

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    Quote Originally Posted by dtrax
    Oh which ones are left? The last time I went there balance only left 3rd, 5th and the high floors and prices still around 11XX, I was looking for a buy at $1100psf at the time lol. Yes the prices are pretty attractive, location wise not bad but not the best. But looking ahead, prices for the property sector has still not taken a big hit and unless the prices are priced at a super attractive I would rather wait to get a more variety of choices at bargain prices a few Quarters down the road.

    Brought a friend/client down couple of days ago where he is looking to buy either #11-03 or #13-03, besides that only left with #14-03. I personally am pretty confident that the price will not be down any further for Newton Edge since they were priced to sell. By the way, the price already went up by 2% from the VIP price. Only those projects that were or are price much higher may drop if the developers still have rooms for further discount.

    if you wish to know what's the latest units available and price, please do not hesitate to drop me a line @ 82818888.


    Pet

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    you should have taken the 2+S 915sqft instead. one of the best layout I have seen, it was launched at 1090psf. now already increased 2%.

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    Quote Originally Posted by repanse71
    Warren Buffett's "buy when they's fear" holds true in this market.
    Many of my friends stash 2 years' worth of CPF installment for their purchase. I believe in 2 years' time, profits will be there. Esp for projects like Beacon Hieghts with OCBC tie-up, requiring cash/CPF 10% each, no installment till TOP. Any such tie-up for Newton Edge??? Or other property in the vacinity?

    Regards
    Yes repanse71, there is a special payment scheme tie up with UOB. 5% cash booking plus 15% cash/cpf or both. 80% finance with interest absorbed by developer while instalment will only starts upon TOP. Most of our projects or Huttons logo you can almost be sure that scheme are available except maybe for one of our project OLA in D15 which is under Normal Progressive Payment scheme only.

    Any further clarification about this project or any of our projects can feel free to drop me a line anytime, anywhere @ 82818888.


    Pet

  26. #26
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    Quote Originally Posted by Petmail
    Brought a friend/client down couple of days ago where he is looking to buy either #11-03 or #13-03, besides that only left with #14-03. I personally am pretty confident that the price will not be down any further for Newton Edge since they were priced to sell. By the way, the price already went up by 2% from the VIP price. Only those projects that were or are price much higher may drop if the developers still have rooms for further discount.

    if you wish to know what's the latest units available and price, please do not hesitate to drop me a line @ 82818888.


    Pet
    Yes 3,5,11-14 were the balance. I do agree with what you say about the price dropping unless the balance units have no takers after many months. If you think 1100 psf is achievable do let me know

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    Quote Originally Posted by Petmail
    you should have taken the 2+S 915sqft instead. one of the best layout I have seen, it was launched at 1090psf. now already increased 2%.
    I would have no issues getting back the 30% since I made a counter-offer for a unit which the developer rejected. The 2+1 left with the lowest floor one i suppose

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    Quote Originally Posted by dtrax
    I would have no issues getting back the 30% since I made a counter-offer for a unit which the developer rejected. The 2+1 left with the lowest floor one i suppose
    Yes... 2+S only #03-02. which unit did you made offer and how much did you offer that was rejected?

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    Newton Edge 2 bedroom at $1100 to $1300 psf?

    You can get Newton Suites 2 bedroom for slightly above that price if you bargain hard enough. If you do not mind being blocked by the skyscraper that is going to be on the Lincoln Lodge site. But seeing as how Liang Beng now decided to rent Lincoln Lodge out instead of tearing down and rebuilding a skyscraper, your 2 bedroom unblocked view could possibly still be there in a few years time.

    The 3 bedrooms though are of a different pricing scale because of the unblocked view of Bukit Timah landed property. Price? Don't ask.

    Personally think Newton Suites is a better condo overall and location is better too with regards to MRT, Cold Storage and offices. If you go to Skyscrapercity, you will see that the forummers there love Newton Suites and they are all the trendy and well educated kind of people.

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    You will also have to compare the price against the size to be exactly accurate. I agrees that the profiles of the owner in the projects are relatively important too but looking at Newton Edge, the owners are mainly Businessman, Bankers as well as Doctors. It does gives you some time to reconsider if Newton Edge is not a better buy than Newton Suites since Newton Edge is within D9 compared to Newton Suites in D11 and that area is always being associate as novena instead of Newton by itself, MRT station being Newton MRT and we knows for sure if it Newton MRT also means it will be part of orchard as well. transport access to town & orchard are within minutes. Competition is another factor to consider since we are comparing a low density area against a really high density area like novena.

    Anyhow, these are just some of my personal opinions though.


    Pet

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