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Thread: Urgent advice

  1. #31
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    I suppose that is why the price seems attractive in comparison to other projects like Park Infina that is offered at 1k psf. Park Infina is a bigger project, with more facilities.

    Any relatively new projects in the area that is worth considering but yet affordable? I suppose it will b great to find a new project like mera springs less all the negativity and at the same pricing range.

  2. #32
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    Quote Originally Posted by isaaclim
    Unless the project is very unique. Otherwise, if your similar neighbor apartment is "crashing". Yours will also face the same fortune.

    Have you visited Park Infinia? Their showflat is still open for viewing.

    Seriously, if I die die need to stay at that area, i will wait for CSR. It is going to break the 700psf level soon.
    Nope not yet, I think I will check it out.

    Hmm...no offence, but am not too keen on CSR surroundings. That's the one with 900 over units right?

  3. #33
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    Quote Originally Posted by korianary
    I suppose that is why the price seems attractive in comparison to other projects like Park Infina that is offered at 1k psf. Park Infina is a bigger project, with more facilities.

    Any relatively new projects in the area that is worth considering but yet affordable? I suppose it will b great to find a new project like mera springs less all the negativity and at the same pricing range.
    The other one is the merlot, I haven't viewed any units there though. Doesn't seem great either.

    Mera Springs was apparently going for $680 psf in mid 2006, it just TOPed this yr. Would you all consider an asking price of $774 to be too high above the launch price? I'm not quite sure how this works actually.

  4. #34
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    Quote Originally Posted by Bell78
    Yup, totally agree. This was the same feeling we had, as well as comments from some others who viewed it. The noise from the CTE (even though our block is not really facing it), the dust, the really tiny rooms which can only fit a small single bed and a small desk...and the equally tiny master bedroom which can only fit a queen size bed. We didn't notice anything about the lack of privacy though, maybe cos the block nearby appeared to be largely unoccupied. In fact, the more we looked at it, the more problems we had with the devt itself (and not just tt particular unit)...

    That said, for the location and price, we initially tot it was still ok cos others in the same area are at least $1,000 psf now. But now we're starting to have 2nd tots for the reasons above.
    I knew it! A lots of people miss up the point that it is in the "other" side.

    Some corn head agent will say "It is less then 800m from Novena MRT".
    Bull shit! It is not accessible by bus 11. Unless you want your name to be in newspaper.

  5. #35
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    Quote Originally Posted by Bell78
    Nope not yet, I think I will check it out.

    Hmm...no offence, but am not too keen on CSR surroundings. That's the one with 900 over units right?
    Sure. It is not so suitable for own stay. But it can be served as a "parking slot" for investment. Nowsaday, almost all investment go into negative zone.

  6. #36
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    If residential property price drop , it will definitely affect any projects. Economic downturn affect everyone. An owner who need money for his business to turn around would sell down. Some owner may owns another 1 or 2 properties which going to TOP soon and not able to get loan. Retrenchment and salary freeze is on your way. The situation will be more and more complicated as Singapore heading into 2009 (the worse is yet to come). Pls remember that property has 6 months lagging effect after the economic bottom up.

    Looking at the residential property index issued by URA , Q3 08 drop 2.4% and Q4 08 drop 6.1%. As u can see the price trend is starting to fall sharper. The price has to be stabilize (going horizontally) two to three quarter before it head north. No one know when it will happen , so I am betting it will be stabilize between Sep 09 to Mar 10. What I am saying is just a bet, but if someone told u that the property price has bottom up, then he/she could be your enemy or dumb.

    Quote Originally Posted by Bell78
    Agreed. Even if it is a relatively small amt of money, it's always good to save whenever u can.

    But we were also wondering if the price fall would affect mera springs if the occupants are currently own stay and have holding power. Wldn't tt be more for new devts/speculators?

  7. #37
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    I agree... the view is really not much to look at. Facing is serangoon... with old buildings and houses.

    I suppose, everything comes with a price. Maybe at 500psf, i won't mind considering it. haa

  8. #38
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    Quote Originally Posted by korianary
    I agree... the view is really not much to look at. Facing is serangoon... with old buildings and houses.

    I suppose, everything comes with a price. Maybe at 500psf, i won't mind considering it. haa
    Hehehe, definitely. My hubby and I were saying if the price is lower, more incentive to buy

  9. #39
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    Quote Originally Posted by Bell78
    Hehehe, definitely. My hubby and I were saying if the price is lower, more incentive to buy
    By the way, i am very curious to know how old are you? Base on your nickname, my wild guess is you are born in 1978. Do you think it is too young to consider a FH property at that location at this age?

    Why don't consider a property near MRT? Easier to get attractive return in shorter term.

  10. #40
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    Quote Originally Posted by isaaclim
    By the way, i am very curious to know how old are you? Base on your nickname, my wild guess is you are born in 1978. Do you think it is too young to consider a FH property at that location at this age?

    Why don't consider a property near MRT? Easier to get attractive return in shorter term.
    Yup, am born in 78 Really? U mean in terms of pricing or wat? Or u mean I can afford to get a relatively new LH near MRT for cheaper price now and move?

  11. #41
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    Quote Originally Posted by Bell78
    Yup, am born in 78 Really? U mean in terms of pricing or wat? Or u mean I can afford to get a relatively new LH near MRT for cheaper price now and move?
    Sorry if my questions sound a bit silly, as u can tell, i'm not very experienced when it comes to house hunting...

  12. #42
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    My personal view is that FH will be a better choice to stay. Where as 99 years can still be attractive if it is meant for rental investment as it can give a higher yield.

    I believe that the readiness to buy a private property will depend on how much savings you have accumulated and a decent stable wage.

    Just my 2cents

  13. #43
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    Quote Originally Posted by Bell78
    Sorry if my questions sound a bit silly, as u can tell, i'm not very experienced when it comes to house hunting...
    Mera spring can be a very nice "mickey mouse" project to stay. But it is located in the middle of everythings. Yet next to CTE - the other side of CTE. Do you ever exp the traffic jam in CTE during friday night? lol...

    Is 800psf consider a cheap price? Hard to comment. But the fact is you are pocketing almost 200k to previous owner.

    The best option now is to rent or stay with parents. But if this is not your choice, buy a unit that have greater potential. 2 bedroom unit is more then enough for a family size of three. Even not so bad for 4 if children are still young. So get a unit near MRT, when your family grew bigger then sell it off and more to a bigger unit. That is how life progress..! Maybe after 1-2 round of this, you may reach the right age to consider FH at the location that is more suitable for retirement.

    If you are very particular about size, move a bit further. There are still lots of choices. Remember it is buyer market now.

    Time is on your side now, spent a bit more time you will sure find better unit.

  14. #44
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    Isaac,

    I couldn't agree anymore that housing prices to drop further. If this is going to be a deep prolonged recession, condo prices cannot stay at this current level (above launch price). But its difficult to tell how much psf will be the bottom.

    I would rather rent out now and wait out the storm before buying a home as this is a big ticket item that must be made prudently.

  15. #45
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    If I were you, will wait as well. Of course unless I/family is desperate to move.

  16. #46
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    Hi

    I have been house hunting for 1 year too. Many times, my wife and I argued over every small things, and it meant it's not the ONE. When it's the ONE, both of you will know it. It happens to us. The moment we drove into the development and step in the unit, the feeling of HOME is strong. Just be true to your feelings.

    However, both you and your hubby must first be ready to assume financial responsibility that comes with home ownership, else no time house-hunting further.

    The price will go up and down. I have a friend who's waiting for years. He missed the earlier boat thinking price will go down further and worried about job security. When price going up, he complained incessantly. Now with falling prices, he's again thinking price will go down further and worried about job security. No end :-(

    BTW, we bought the place... but baby comes... so can't move to be near parents for next 2 years and therefore rent out... The place is homely and convenient and in good location, the rental covers everything $$$ with 10% extra cash. We are using 100% CPF for installment next 12 months, the cash rental we received will be our renovation budget

    Ultimately, its location + location + location with huge feely doses of HOME

    Regards

    Quote Originally Posted by cadenza
    If I were you, will wait as well. Of course unless I/family is desperate to move.

  17. #47
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    Quote Originally Posted by august
    Even for own stay, regret can also come in terms of better units available.. hehe

    bell78, if u absolutely loves THIS unit, then the answer is clear, otherwise for me i'll wait for a choice unit before agonising
    Haha......that's true.....why not right. Get a choice unit for a better price. Keep the rest of the $ for better usage

  18. #48
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    my turn to agonize, and i need advice from the pros here.

    I have shortlisted 2 properties in the balmoral and across the road vicinity:
    • both are small developments with low density/good land area
    • both are TOPed late 2008/2009
    • both are 2 bedrooms, FH, and very little facilities
    • both are offering me 20% below 2006 launch prices
    • both current prices are about 50% below 2007 highs
    • both prices are already 30% below current asking prices of the vicinity in the papers
    • i am buying for own stay & will be paying about 50% upfront
    • i am 31, small business owner, and have accumulated 10-15yrs of expenses reserves which i am not touching in this property transaction.
    my questions are:
    1. is this a good price to enter now? or should i wait?
    2. if i wait, what PSF for that area would be fair value?
    3. for A, i can service 100% via CPF monthly. for B, i have to top up $800pm in cash on top of CPF. which should i go for?
    4. even if option A - can i afford it?
    thanks in advance!!!
    Last edited by gfoo; 03-02-09 at 22:05.

  19. #49
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    Quote Originally Posted by gfoo
    my turn to agonize, and i need advice from the pros here.

    I have shortlisted 2 properties in the balmoral and across the road vicinity:
    • both are small developments with low density/good land area
    • both are TOPed late 2008/2009
    • both are 2 bedrooms, FH, and very little facilities
    • both are offering me 20% below 2006 launch prices
    • both current prices are about 50% below 2007 highs
    • both prices are already 30% below current asking prices of the vicinity in the papers
    • i am buying for own stay & will be paying about 50% upfront
    • i am 31, small business owner, and have accumulated 10-15yrs of expenses reserves which i am not touching in this property transaction.
    my questions are:
    1. is this a good price to enter now? or should i wait?
    2. if i wait, what PSF for that area would be fair value?
    3. for A, i can service 100% via CPF monthly. for B, i have to top up $800pm in cash on top of CPF. which should i go for?
    4. even if option A - can i afford it?
    thanks in advance!!!
    Ah! Balmoral. 50% is still 1k+.
    People stay at that area can only for two reasons:
    1. Act rich
    2. For child education.

    Since you still young, most likely you are for 1.

  20. #50
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    Quote Originally Posted by isaaclim
    Ah! Balmoral. 50% is still 1k+.
    People stay at that area can only for two reasons:
    1. Act rich
    2. For child education.

    Since you still young, most likely you are for 1.
    what you mean 50% is still 1k+? dun understand

    lol no need to act rich, coz i'm nowhere close to rich. but that area is within my affordability range quantum wise, and it's quite nice and peaceful, and close to my parent's place. both units do not have planter or substantial balcony space vs some i have seen in d15, so to me although d15 units are larger, they feel the same and quantum wise, just very slightly more

    it's either that or d15, but d15 i'm scared will become too dense
    Last edited by gfoo; 03-02-09 at 23:14.

  21. #51
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    Quote Originally Posted by gfoo
    what you mean 50% is still 1k+? dun understand

    lol no need to act rich, coz i'm poor and nowhere close to rich. but that area is within my affordability range quantum wise, and it's quite nice and peaceful, and close to my parent's place.

    it's either that or d15, but d15 i'm scared will become too dense
    think is individual preferences ba..

    for myself if for own stay amenities is important, mrt, shops, food etc

    so while balmoral and bt timah stretch gives me the exclusive and good feeling, not so practical for me.. i stress again is just my preference for own stay.. u will hv yours.

  22. #52
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    Quote Originally Posted by august
    think is individual preferences ba..

    for myself if for own stay amenities is important, mrt, shops, food etc

    so while balmoral and bt timah stretch gives me the exclusive and good feeling, not so practical for me.. i stress again is just my preference for own stay.. u will hv yours.
    yeah i'm kinda mixed feelings about that too.

    balmoral must ride bicycle 5mins to united sq, novena. east coast the makan places just outside. d15 amenities are far superior, but so's the noise and complexity.

    sigh, still confused

    both d15 and balmoral same price in terms of quantum. both d15 and balmoral feel similar size in terms of feel, as d15 has much more planter and balcony space

  23. #53
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    Quote Originally Posted by gfoo
    what you mean 50% is still 1k+? dun understand

    lol no need to act rich, coz i'm poor and nowhere close to rich. but that area is within my affordability range quantum wise, and it's quite nice and peaceful, and close to my parent's place.

    it's either that or d15, but d15 i'm scared will become too dense
    Most development there was above 2k in 2007. So 50% of 2k, isn't it still above 1k?

    Last year, there was some discussion that they will be MRT station in Bukit timah area. Got any idea?

  24. #54
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    Quote Originally Posted by isaaclim
    Most development there was above 2k in 2007. So 50% of 2k, isn't it still above 1k?

    Last year, there was some discussion that they will be MRT station in Bukit timah area. Got any idea?
    yes downtown line coming to bt timah... in 2015

  25. #55
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    Quote Originally Posted by gfoo
    yeah i'm kinda mixed feelings about that too.

    balmoral must ride bicycle 5mins to united sq, novena. east coast the makan places just outside. d15 amenities are far superior, but so's the noise and complexity.

    sigh, still confused

    both d15 and balmoral same price in terms of quantum. both d15 and balmoral feel similar size in terms of feel, as d15 has much more planter and balcony space
    Unit with big balcony/planter space is going to face more depreciation in value due to new regulation in current market situation.

  26. #56
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    why is this so? can enlighten?

    Quote Originally Posted by isaaclim
    Unit with big balcony/planter space is going to face more depreciation in value due to new regulation in current market situation.

  27. #57
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    Default hi

    d15 = district 15 ?

    personally i wont go d15 and 16

    its one of the most densely populated area ... so what if they have loads of eateries ? the roads are so narrow , no where to park , everywhere crowded ....

    when prices fall .. and you want to sell .. you will be one of the 1000's trying to sell ...

  28. #58
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    Quote Originally Posted by xtink
    why is this so? can enlighten?
    Projected approved before can count the size of balcony in their selling price. With new regulation, developer can no longer do this "steal chicken touch egg" business anymore.

    So, smart buyer will use this as an excuse to discount the asking price from seller.

  29. #59
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    Quote Originally Posted by proud owner
    d15 = district 15 ?

    personally i wont go d15 and 16

    its one of the most densely populated area ... so what if they have loads of eateries ? the roads are so narrow , no where to park , everywhere crowded ....

    when prices fall .. and you want to sell .. you will be one of the 1000's trying to sell ...
    valid point

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