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Thread: RV RESIDENCES (999, Allgreen)

  1. #91
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    Default $25k monthly income to borrow $1.1m ? $10k intalment per month ?

    Although 2 bedroom is quoted at $1.9k psf or about $1.3x m,

    80% loan means $1.1m and for that a min income of

    $25k per month is expected.

    Over 10 years loan, the monthly instalment is about

    $10k per month.

    If young borrower , how to have $25k per month ?
    If retiree, how to repay $10k per month with just rental income ?

  2. #92
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    Quote Originally Posted by Heng
    Although 2 bedroom is quoted at $1.9k psf or about $1.3x m,

    80% loan means $1.1m and for that a min income of

    $25k per month is expected.

    Over 10 years loan, the monthly instalment is about

    $10k per month.

    If young borrower , how to have $25k per month ?
    If retiree, how to repay $10k per month with just rental income ?
    How come loan $1.1 m need 25k mthly income?

  3. #93
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    Default citibank : if self employed : $27k

    Quote Originally Posted by leesg123
    How come loan $1.1 m need 25k mthly income?
    Citibank officer at showroom wrote on paper :
    if self-employed needs about $27k

    fixed & variable : 25k
    -------------------------------------------------------
    upon TOP : $10k instalment per month if based on 10 years loan

  4. #94
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    Jul 2013
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    248

    Default

    Quote Originally Posted by lajia
    I think everyone knows, it is about demand, which is critical and not how cheap it is at this moment. It is all about forward looking. Now, it might be a good deal, but maybe not 3 yrs later. or maybe, now it is not a good deal, but who knows 3 yrs later.....

    therefore, if your prime concern is about rental, always follow where the job creation is...if more jobs are going to be created in finance sectors, then maybe D1 might be a good consideration. And if referring to the upcoming Changi Business pk, then maybe over at Changi, TM might be good, and so on and so forth for JLD, etc...

    CCR will take a while to recover. If you can hang on the storms, RV I think still good if pricing is right...
    Difficult for CCR to recover.

  5. #95
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    stellar RV is more mickey mouse than RV Resi, that's why could sell. also 20xxpsf, it sold very few units. later it cut price by a bit to 19xxpsf then moved the rest. it was 500+ sq ft TWO bedders. the marketing point for the agents was, "where can you find FH 2 bedders in prime district for 1.0xm?"

    in comparison, RV Resi is 400+ sq ft 1 bedder and just under 700 sq ft for 2 bedders (1.3m+). adding in the new loan rules of course helps to make it harder to sell.

    anyone knows what's the latest sales figure? 30+ or 40+? or i scream i scream?


    Quote Originally Posted by priorityqueen
    wow, the $6xx and $800 per month maintenance fees are too way high...i wld have fainted...agree with bargain hunter bro, how to justify?

    can someone enlighten? If you compare stellar RV and RV residences, they are just across the road. Stellar RV was launched last year ard sep? and although not 100% sold immediately, still manage to clear all and the psf was abt $2100...

    abt a year later, RV res launched at about the same pricing (or maybe slightly lower?) but the sales looked pathetic....the showroom was not as busy as other projects i feel...

    The cooling measures effect? otherwise why?
    Allgreen held back the launch because it wanted to sell at a higher rate, but eventually it didn't/couldn't?

  6. #96
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    does anyone know why they took so long to launch ?/

    the showflat was up like over a year ..maybe longer ... if they had launched earlier it would have been sold out within a week

  7. #97
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    160

    Default $1.7xpsf for bigger than 2 bedrooms ?

    Quote Originally Posted by bargain hunter
    stellar RV.... cut price by a bit to 19xxpsf then moved the rest. it was 500+ sq ft TWO bedders. the marketing point for the agents was, "where can you find FH 2 bedders in prime district for 1.0xm?"

    in comparison, RV Resi is 400+ sq ft 1 bedder and just under 700 sq ft for 2 bedders (1.3m+). adding in the new loan rules of course helps to make it harder to sell.
    RV residences : larger units are at about $1.7x psf

  8. #98
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    Quote Originally Posted by proud owner
    does anyone know why they took so long to launch ?/

    the showflat was up like over a year ..maybe longer ... if they had launched earlier it would have been sold out within a week
    Greed. They miscalculated and didn't foresee so many rounds of cooling measures.

  9. #99
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    Oct 2012
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    The main killer is the TDSR. Bank will not lend u money easily. My friend $8600 per month only can loan $500k. He has no outstanding loan. Even if crisis do come i wonder how many can still get a loan amount? $8600 for $500k is too little. Pls go to bank and find out. My friend went to ocbc.

  10. #100
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    Quote Originally Posted by star
    The main killer is the TDSR. Bank will not lend u money easily. My friend $8600 per month only can loan $500k. He has no outstanding loan. Even if crisis do come i wonder how many can still get a loan amount? $8600 for $500k is too little. Pls go to bank and find out. My friend went to ocbc.
    Hi...This is a drastic measure from TDSR.

    I am more fortunate; I manage to get more, bigger amount to finance my Mt Sinai apartment.

    I am from OCBC too, but I admit I did just within a month window period of TDSR, and actually apply few days before TDSR officiate.

  11. #101
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    For single now to buy a condo at $1.2m is tough now. But if married couple it is much easier.

    That is why u see ec selling like hot cakes.

  12. #102
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    bro, it was built long ago. since 2008 i think.

    they missed the 2007 boat. so they decided start building and launch closer to TOP. looks like they missed the boat again.

    Quote Originally Posted by proud owner
    does anyone know why they took so long to launch ?/

    the showflat was up like over a year ..maybe longer ... if they had launched earlier it would have been sold out within a week

  13. #103
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    1798psf for 4 bedder. can call it 1800psf actually.

    Quote Originally Posted by Heng
    RV residences : larger units are at about $1.7x psf

  14. #104
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    If CCR can hold on to its price, it would be a bonus already.


    Quote Originally Posted by wirehtc
    Difficult for CCR to recover.

  15. #105
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    Your friend get 10 years loan ah?

    For a million dollar loan (1.25M purchase price), your income has to be around $7718.

    I am using 3.75% interest for 30 years. Monthly repayment is $4631. So 60% DSR = around 7.7k.



    Quote Originally Posted by star
    The main killer is the TDSR. Bank will not lend u money easily. My friend $8600 per month only can loan $500k. He has no outstanding loan. Even if crisis do come i wonder how many can still get a loan amount? $8600 for $500k is too little. Pls go to bank and find out. My friend went to ocbc.

  16. #106
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    Quote Originally Posted by thomastansb
    Your friend get 10 years loan ah?

    For a million dollar loan (1.25M purchase price), your income has to be around $7718.

    I am using 3.75% interest for 30 years. Monthly repayment is $4631. So 60% DSR = around 7.7k.
    Hi, the calculation is far less than 60% as quoted by govt. I think bank want to play it safe. He plan to loan for 25years. He is only 37yrs old.
    If anyone went to other banks can kindly share here how is the loan amount now? Thanks.

  17. #107
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    Huh? That is the guideline by MAS. 30 years @ 3.5% interest. In fact, I used 3.75% because my bank always use 3.75% which is higher than MAS recommendation.


    Quote Originally Posted by star
    Hi, the calculation is far less than 60% as quoted by govt. I think bank want to play it safe. He plan to loan for 25years. He is only 37yrs old.
    If anyone went to other banks can kindly share here how is the loan amount now? Thanks.

  18. #108
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    Hi thomas, ocbc bank officer show us he uses this to calculate:
    http://www.ocbc.com.sg/personal-bank.../homeloan.html

  19. #109
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    I key in $8,000 combined income and a 30 years loan.

    I can borrow 518k. OCBC also put there - based on 30% DSR.

    So if based on 60% DSR, I would be able to borrow 1.036 million. Almost the same calculation that I have given you (7.7k to borrow 1M).





    Indicative loan amount
    :
    S$518,000

    Monthly payment
    :
    S$1,709^
    [Based on a debt servicing ratio of 30%]




    Quote Originally Posted by star
    Hi thomas, ocbc bank officer show us he uses this to calculate:
    http://www.ocbc.com.sg/personal-bank.../homeloan.html

  20. #110
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    Maybe they really play it safe and reduce to 30%. I hope others will have some information on other banks too.

  21. #111
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    Never heard of that. If OCBC don't want business, many other banks are willing to take it the business. I just sms my OCBC agent, DSR maintained at 60%.

    Maybe your friend credit rating is really bad (eg: pay minimum sum for credit card for 6 months) but he/she didn't tell you. Or car loan, credit line loan or study loan. All these will eat into DSR. But the bank (and MAS) stand is clear. 60% DSR, 3.5% interest and 30 years.




    Quote Originally Posted by star
    Maybe they really play it safe and reduce to 30%. I hope others will have some information on other banks too.

  22. #112
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    Quote Originally Posted by star
    Hi thomas, ocbc bank officer show us he uses this to calculate:
    http://www.ocbc.com.sg/personal-bank.../homeloan.html
    This OCBC calculator not so accurate lah.
    It didnt factor in the amount of loan one is currently holding.
    TSDR is surely affecting people like me. My current outstanding loan is about 2.5m. The only positive note for me is luckily I am still young and can stretch 30yrs.

    Back to RV residences, I always like CCR projects under 1m, but now that my loan amount is under MAS control, I need to pick my next purchase very carefully.

  23. #113
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    Quote Originally Posted by thomastansb
    I key in $8,000 combined income and a 30 years loan.

    I can borrow 518k. OCBC also put there - based on 30% DSR.

    So if based on 60% DSR, I would be able to borrow 1.036 million. Almost the same calculation that I have given you (7.7k to borrow 1M).

    Please confirm if my understanding is correct :

    using the calculator provided by OCBC, a monthly income of $18,500 should be able to secure a $1.11m loan based on 60% DSR ?

    Instalment is $10k ?


    555,000 loan $1,110,000.00 693,750 purchase price $1,387,500.00




    4905 instalment $9,810.00

  24. #114
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    Everyone pls ignore the ocbc calculator. not accurate one. Talk to their bankers. Also, talk to foreign banks as they are more aggressive.
    Quote Originally Posted by Heng
    Please confirm if my understanding is correct :

    using the calculator provided by OCBC, a monthly income of $18,500 should be able to secure a $1.11m loan based on 60% DSR ?

    Instalment is $10k ?


    555,000 loan $1,110,000.00 693,750 purchase price $1,387,500.00




    4905 instalment $9,810.00

  25. #115
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    哇诸位已在精打算盘了!?敢问为何不须再三考虑这项目?

    Wa all bros already busy playing abacus liao!? Dare ask why no need again thrice think thru this project?
    click: 🏢shoeboxmickeymousehouse 🏢

  26. #116
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    Loft@Nathan fully sold?

  27. #117
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    Anyone knows why these condos along the road cant go beyond 8 stories??

  28. #118
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    Quote Originally Posted by leesg123
    Anyone knows why these condos along the road cant go beyond 8 stories??

    I had the same question too...

    and is it true that projects which are "shorter" in height are less popular because they are deemed as apartments and not condo?
    Miracle is just another name for Effort.

  29. #119
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    Quote Originally Posted by priorityqueen
    I had the same question too...

    and is it true that projects which are "shorter" in height are less popular because they are deemed as apartments and not condo?
    Too close to embassy? Like Brunei embassy behind?

  30. #120
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    answering my own question with more quesstions:


    from BT:

    "Meanwhile, Allgreen Properties is believed to have sold 20 to 30-odd units at RV Residences, a 999-year leasehold project on River Valley Road. The average price for the initial batch of 80 units is said to be around $2,000 psf. RV Residences comprises 248 units."

    did they verify with allgreen or they simply drew the info from this thread which estimated 20 to 30 odd units?

    surely 20 or 30 units easily can count and confirm?


    Quote Originally Posted by bargain hunter
    anyone knows what's the latest sales figure? 30+ or 40+? or i scream i scream?

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