Casa Merah: For owners only.

**acewee** · 31-08-09, 22:56

As a buyer, I'd prefer to know that what I get is what I paid for isn't it? I agree that if for own stay, the status doesn't really matter. But the problem may arise if there are new laws in the future that affects either condo or apartment. That is when it makes a difference I suppose. In the meantime, just enjoy the place lor and dun worry too much. So far this is the only one with this situation it seems.

Originally Posted by sleek

Probably so as to maximise the height limit for the development. Some of you may feel that the Apartment status does affect the value, but if its for own-stay and you like the place, don't be too worked out over it.

Not sure about Optima, but East Meadows is Condo Status.

**sleek** · 31-08-09, 23:07

As mentioned above, for a 12-storey building, you will need 5.4m & 9.2m setback for Apartment & Condo accordingly. So probably to maximise the nos. of units, they decide to go with the lower setback, thus resulting in the development being classified as an Apartment instead.

You may wish to check your S&P agreement for the Development Type and see if its mentioned Condominium, but most likely should be Apartment.

**teddybear** · 31-08-09, 23:10

Another example is Rivergate which is classified as "Apt" status (rather than "Condo").

Originally Posted by acewee

As a buyer, I'd prefer to know that what I get is what I paid for isn't it? I agree that if for own stay, the status doesn't really matter. But the problem may arise if there are new laws in the future that affects either condo or apartment. That is when it makes a difference I suppose. In the meantime, just enjoy the place lor and dun worry too much. So far this is the only one with this situation it seems.

**etml** · 31-08-09, 23:57

Thanks...think i get a clearer picture now. I used to think that private apts are those that are very small with hardly any facilities, at most a small pool and no underground carparks. I will just assume those with full condo facilities are definitely "condos". Now i know got such a thing will definitely be more vigilant. Not that it matters as long as the location is gd, but personally i won't feel good when i paid for something that is not what i think it is.

Originally Posted by sleek

As mentioned above, for a 12-storey building, you will need 5.4m & 9.2m setback for Apartment & Condo accordingly. So probably to maximise the nos. of units, they decide to go with the lower setback, thus resulting in the development being classified as an Apartment instead.

You may wish to check your S&P agreement for the Development Type and see if its mentioned Condominium, but most likely should be Apartment.

**acewee** · 31-08-09, 23:58

Really? That one even worse...damm expensive.

Originally Posted by teddybear

Another example is Rivergate which is classified as "Apt" status (rather than "Condo").

**xebay11** · 01-09-09, 00:06

Casa Merah owners quite poor thing, now this issue of apt or condo status, what about the just-about-to-TOP and then launch Optima status, to block your airflow and views?

OK some may say it blocks the MRT and traffic noise, but generally having a development come up in front of you is usually not a favourable thing, would you have paid less if you knew Optima was going to launch so soon, how many of you actually knew this when you were putting the pen to paper?

**etml** · 01-09-09, 00:31

Is that why CM owners hate optima so much? It seems like they have nothing but the bad things to say about optima. oops...

Originally Posted by xebay11

Casa Merah owners quite poor thing, now this issue of apt or condo status, what about the just-about-to-TOP and then launch Optima status, to block your airflow and views?
OK some may say it blocks the MRT and traffic noise, but generally having a development come up in front of you is usually not a favourable thing, would you have paid less if you knew Optima was going to launch so soon, how many of you actually knew this when you were putting the pen to paper?

**Daniel Foo** · 01-09-09, 02:01

Originally Posted by xebay11

Casa Merah owners quite poor thing, now this issue of apt or condo status, what about the just-about-to-TOP and then launch Optima status, to block your airflow and views?

OK some may say it blocks the MRT and traffic noise, but generally having a development come up in front of you is usually not a favourable thing, would you have paid less if you knew Optima was going to launch so soon, how many of you actually knew this when you were putting the pen to paper?

That is the challenge when you buy a condo project in which there is an empty plot of land for future development. The empty land can either be developed into a residential project or commercial project ==> your guess is as good as mine. If it is a commercial development you jackpot, but if it is a competitive project, it may block some of your view. There is pros & cons basically.

That is why generally speaking, developer cannot factor in futuristic ameneties into their project launch price. Eexample: future MRT station, 4th University or Changi Business Park.
A good example is WFW and WFK whereby the developers cannot factor in the to-be built MRT station near Bedok Reservoir.

Buying property is all about timing and foresight and a certain element of luck. Basically no one can predict the future.

Anyway for CM, whether it is apt, condominium or even "HDB apartment" status, it does not really matter, people will still grab like "hot cakes". As long as your location is top notch and near amenities, people will still buy.

Incidently CM has one of the highest number of subsales according to a Straits Times article on Sunday.

Also Casa Merah has been voted the "Top 10 Most Popular Condominiums in Singapore" consistently from April -August 2009.
so why bother about whatever status.

http://condo.singaporeexpats.com/pop...iums-08-09.htm

http://condo.singaporeexpats.com/pop...iums-07-09.htm

http://condo.singaporeexpats.com/pop...iums-06-09.htm

http://condo.singaporeexpats.com/pop...iums-05-09.htm

http://condo.singaporeexpats.com/pop...iums-04-09.htm

Also also thanks to Optima project in front, it has helped enhance & increased the transacted price for all Casa Merah units now to about
850-900psf. By now all Casa Merah owners must be laughing their way to the bank

.
Also with the earmarked shopping mall in front of Casa Merah, be prepared for the price to hike up another fold.

**thomastansb** · 01-09-09, 04:18

Not really poor thing. The Sail is an apartment also

Anyway, how poor thing can the owners be when they already make at least 200psf profit? I mean the first owners. Also, which Condo/apartment in Singapore not blocked one? My Sail is blocked also but seriously, who cares when I bought near launch price and now it's hitting 3k psf soon.

On the other hand, Optima owners may need to take care. At 900-1.1k psf, not much upside. Let's say CM owners bought at 600psf, now 800psf. 33% gain. If Optima owners want to make 33% profit, have to sell about 1200-1350psf. Seriously, which cock will go buy at such a price? So actually, Optima owners are more cock than CM owners. The downside is there. Actually it has a greater probability for Optima to drop to 700psf than to rise to 1300psf.

For a property, you have to take note of the location, price you buy and timing. Unblock is advantage but doesn't matter that much. Location is still important. And of course, no MRT track noise please..

Originally Posted by xebay11

Casa Merah owners quite poor thing, now this issue of apt or condo status, what about the just-about-to-TOP and then launch Optima status, to block your airflow and views?

OK some may say it blocks the MRT and traffic noise, but generally having a development come up in front of you is usually not a favourable thing, would you have paid less if you knew Optima was going to launch so soon, how many of you actually knew this when you were putting the pen to paper?

**thomastansb** · 01-09-09, 04:27

To me, people can say how good or how bad a condo is. Worth it or worthless, it is not up to anyone to decide. It is the whole market force that decide.

To me, a Condo/Apt that let me earn $ is a good Condo/Apt. Just like The Sail @ Marina Bay. People can say how lousy, how badly designed, how low class, how screwed up - Never mind... In your heart, if you know you make a hefty profit, that is more important. $ is more important. Blocked or unblocked, windy or no wind, that PSF gained surpassed everything.

Simple logic - Would you rather 1) Make profit and have your view blocked + no wind or 2) No profit but got view and wind.

Just hope my 800k bank loan can finish paying and I can sell my unit already. Another 40% to go

Originally Posted by Daniel Foo

That is the challenge when you buy a condo project in which there is an empty plot of land for future development. The empty land can either be developed into a residential project or commercial project ==> your guess is as good as mine. If it is a commercial development you jackpot, but if it is a competitive project, it may block some of your view. There is pros & cons basically.

That is why generally speaking, developer cannot factor in futuristic ameneties into their project launch price. Eexample: future MRT station, 4th University or Changi Business Park.
A good example is WFW and WFK whereby the developers cannot factor in the to-be built MRT station near Bedok Reservoir.

Buying property is all about timing and foresight and a certain element of luck. Basically no one can predict the future.

Anyway for CM, whether it is apt, condominium or even "HDB apartment" status, it does not really matter, people will still grab like "hot cakes". As long as your location is top notch and near amenities, people will still buy.

Incidently CM has one of the highest number of subsales according to a Straits Times article on Sunday.

Also Casa Merah has been voted the "Top 10 Most Popular Condominiums in Singapore" consistently from April -August 2009.
so why bother about whatever status.

http://condo.singaporeexpats.com/pop...iums-08-09.htm

http://condo.singaporeexpats.com/pop...iums-07-09.htm

http://condo.singaporeexpats.com/pop...iums-06-09.htm

http://condo.singaporeexpats.com/pop...iums-05-09.htm

http://condo.singaporeexpats.com/pop...iums-04-09.htm

Also also thanks to Optima project in front, it has helped enhance & increased the transacted price for all Casa Merah units now to about
850-900psf. By now all Casa Merah owners must be laughing their way to the bank

.
Also with the earmarked shopping mall in front of Casa Merah, be prepared for the price to hike up another fold.

**hkching** · 01-09-09, 07:14

Originally Posted by xebay11

Casa Merah owners quite poor thing, now this issue of apt or condo status, what about the just-about-to-TOP and then launch Optima status, to block your airflow and views?

OK some may say it blocks the MRT and traffic noise, but generally having a development come up in front of you is usually not a favourable thing, would you have paid less if you knew Optima was going to launch so soon, how many of you actually knew this when you were putting the pen to paper?

When I signed the papers in May, I knew about Optima. I think most subsale buyers know about Optima too. It does affect my choice as I did not choose those stack facing MRT, instead I chose stack 10 facing reflective pool. I also know there will be another commercial and residential development in the land in front of Casa Merah / East Meadows. Based on the potential of the development, the price was really attractive ($600+ psf). So condo status or not, I just bought a unit I like..

On hindsight, those owners who bought CM before Optima was launched really benefitted. Instead of Optima bringing the price down for CM, it actually pushed the price up. I think most CM owners can easily make at least $150k now due to Optima. That's for a 6 mth investment. I was offered a decent unit for $630 psf in January.

If you bought the units facing Optima for rental yield, it doesn't really make a different. Moreover, Optima indirectly pushed up your rental yield. So you could rent it out until Optima is completed.

In summary, buyers need to research when they buy any properties. The information are all available on the web. No need to overhype the condo / apt status as no one really understand how it really affect anyone.

**doragirl** · 01-09-09, 09:05

anyone going to refinance your property now that CS has obtained TOP?

**cksonic** · 01-09-09, 11:29

me me me! i wanted to get a fixed rate loan package converted on my SCB loan (currently floating rate due to BUC status), but the banker says they don't have any such package for me now cos the disbursed amount is not enough. sighhh...anybody with such encounters or experience to share?

Originally Posted by doragirl

anyone going to refinance your property now that CS has obtained TOP?

**hkching** · 01-09-09, 11:46

Originally Posted by doragirl

anyone going to refinance your property now that CS has obtained TOP?

Can't refinance as still have 15% not disbursed yet. Not too willling to pay penalty. Anyway I'm paying 1.66% interest, so still ok to stick to current one in my opinion...

**Daniel Foo** · 01-09-09, 12:15

Originally Posted by hkching

Can't refinance as still have 15% not disbursed yet. Not too willling to pay penalty. Anyway I'm paying 1.66% interest, so still ok to stick to current one in my opinion...

Bro, which bank you took your housing loan from.
You should take those package that has flexibility for partial or full repayment with no penalty.

Looking at the current landscape with the property balloning, I have the hunch that the banks may increase their housing loan interest rates subtly very soon. God Bless all property owners

**Daniel Foo** · 01-09-09, 12:25

Originally Posted by thomastansb

To me, people can say how good or how bad a condo is. Worth it or worthless, it is not up to anyone to decide. It is the whole market force that decide.

To me, a Condo/Apt that let me earn $ is a good Condo/Apt. Just like The Sail @ Marina Bay. People can say how lousy, how badly designed, how low class, how screwed up - Never mind... In your heart, if you know you make a hefty profit, that is more important. $ is more important. Blocked or unblocked, windy or no wind, that PSF gained surpassed everything.

Simple logic - Would you rather 1) Make profit and have your view blocked + no wind or 2) No profit but got view and wind.

Just hope my 800k bank loan can finish paying and I can sell my unit already. Another 40% to go

I fully agree with you. "Worth it or worthless, it is not up to anyone to decide. It is decided by the market forces"

As long as your property help you make money when you flip or if you decide not to sell, just sit back relax & enjoy the serenity of your project.

**doragirl** · 01-09-09, 15:24

Originally Posted by hkching

Can't refinance as still have 15% not disbursed yet. Not too willling to pay penalty. Anyway I'm paying 1.66% interest, so still ok to stick to current one in my opinion...

your 1.66% includes sibor rate?

**doragirl** · 01-09-09, 15:27

Originally Posted by cksonic

me me me! i wanted to get a fixed rate loan package converted on my SCB loan (currently floating rate due to BUC status), but the banker says they don't have any such package for me now cos the disbursed amount is not enough. sighhh...anybody with such encounters or experience to share?

i'm also having some issue with this conversion. by right there should be a free convert after top but they are charging me a hefty conversion fee due to disbursement of loan. seems like being caught by fine terms and conditions.

**Daniel Foo** · 01-09-09, 15:39

Originally Posted by doragirl

i'm also having some issue with this conversion. by right there should be a free convert after top but they are charging me a hefty conversion fee due to disbursement of loan. seems like being caught by fine terms and conditions.

which Bank you took from? What is your lock in period??

**doragirl** · 01-09-09, 16:01

Originally Posted by Daniel Foo

which Bank you took from? What is your lock in period??

just pm u.

**hkching** · 01-09-09, 20:18

Originally Posted by Daniel Foo

Bro, which bank you took your housing loan from.
You should take those package that has flexibility for partial or full repayment with no penalty.

Looking at the current landscape with the property balloning, I have the hunch that the banks may increase their housing loan interest rates subtly very soon. God Bless all property owners

Generally mine have no penalty for partial or full redemption. But that is for the amount that is disbursed. I think most banks have this condition. My bank is Citibank. On 1 month SIBOR

**hkching** · 01-09-09, 20:19

Originally Posted by doragirl

your 1.66% includes sibor rate?

Yup.. mine is 1.25% + 1 month SIBOR (0.41%)

**hkching** · 01-09-09, 20:21

Originally Posted by Daniel Foo

which Bank you took from? What is your lock in period??

I think there's no lock in period. As mentioned, it applies to disbursed amount only. You can check with your banker..

**doragirl** · 02-09-09, 15:50

anyone else got notice to collect keys?

wait until

**East Coast Boy** · 02-09-09, 16:13

The Maintenance Fee ( Inclusive of GST ) for the first Six months as:

2 BedRoom $ 1,579.32 ( $ 246 Per Month )

3 BedRoom $ 1,842.54 ( $ 287 per month )

3+1 BedRoom $ 2,105.76 ( $ 328 Per month )

4 BedRoom $ 2,368.98 ( $ 369 Per Month )

**acewee** · 02-09-09, 16:26

Seems quite a lot considering so many units.

Originally Posted by East Coast Boy

The Maintenance Fee ( Inclusive of GST ) for the first Six months as:

2 BedRoom $ 1,579.32 ( $ 246 Per Month )

3 BedRoom $ 1,842.54 ( $ 287 per month )

3+1 BedRoom $ 2,105.76 ( $ 328 Per month )

4 BedRoom $ 2,368.98 ( $ 369 Per Month )

**doragirl** · 02-09-09, 21:35

Originally Posted by East Coast Boy

The Maintenance Fee ( Inclusive of GST ) for the first Six months as:

2 BedRoom $ 1,579.32 ( $ 246 Per Month )

3 BedRoom $ 1,842.54 ( $ 287 per month )

3+1 BedRoom $ 2,105.76 ( $ 328 Per month )

4 BedRoom $ 2,368.98 ( $ 369 Per Month )

thanks for the info

**hkching** · 05-09-09, 10:15

Pictures from inside the unit...

http://www.propertyguru.com.sg//list...sa-Merah-(D16)

I suspect is Stack 13 10th or 11th floor..

**hkching** · 05-09-09, 10:29

One more

http://www.propertyguru.com.sg/listi...ale-casa-merah

Should be stack 14.

**cksonic** · 05-09-09, 12:58

good stuffs bro, thanks for sussing this out! noticed that the built-in wardrobe is not full length..hmmm...

Originally Posted by hkching

Pictures from inside the unit...

http://www.propertyguru.com.sg//listing/541755/For-Sale-Casa-Merah-(D16)

I suspect is Stack 13 10th or 11th floor..

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