Originally Posted by bargain hunter
No showflat? What are people basing their purchase on? Drawings? Got model?
aiyooo...
Originally Posted by bargain hunter
No showflat? What are people basing their purchase on? Drawings? Got model?
aiyooo...
Not true, I encounter 7% before in 1996.Originally Posted by kal
The mortgage loan went up from 4% to 7% just within one year.
From $3,500 per month to $4,400 per month, no joke....
Buyers pls take this into your consideration before your purchase.
Now is only 1.5% to 2%, near future.....????
Based on interest rate 2.5% which you can get fixed for 3 years to counter interest rate fluctuations. If you go for SIBOR the rate is even lower.
Originally Posted by zimmer
7% but last how long? Usually it is only a short period otherwise you sure see recession (which anyway occurs in late 1997 and rates fall to super low thereafter). So average out over a 10 years period may be still about 4%?
Originally Posted by Honesty
u know in HK there are plenty of projects that have 2000, 3000, even 5000 units that's a whole town, complete with a club membership. From HK standard, 1000 units is chicken feet lah! (although personally I dun like too many units either. 3-4** is the right number for me; and hopefully it can have per unit >1000 sqft land so not so crowdy)Originally Posted by andy
personally I find this project not so atrocious in pricing. barely 1k for 2bd, <900 for larger units. The view is quite good. Just the TOP date too far for me. 6ys later.
Ya, you are right, for big project like this I think it take more than 6 years to build.Originally Posted by amk
But for this 99 years project i think the buyers will "lu gee". By the time the TOP left maybe 92 years.
No way man... which bank lends you more the 30% of your income for monthly repayment.... are you an agent?Originally Posted by teddybear
after persistent fone calls from agents etc went to see the so called showflat today
sad to say its such a poorly organized event
and that that Capitaland is trying to offload very bad facing units out 1st
I noticed as well that agents are trying to play things up by having most of the tables (for negotiations) filled up
I walked closer and realize its a dummy act
not many discussing loans or taking out cheques
looks like this project is the 2nd to feel the anti-spec pain
it wont do well
So obvious already... if they busy nego or collecting checks where got time to keep calling u unless the [male] agent has interest in youOriginally Posted by NoodyGirl
When no one wants to lend US any more money, then rates will have no choice but to move up. I think all buyers need to budget for the time when interest rates are no longer below 2%. Either we pray that US doesn't recover so soon and Fed keeps interest low, otherwise, with the strong rally in share price, it seems one should expect rates to move higher earlier than later.
Actually can afford $5m also. See, the tactic is buy 1 $3m property for renting out, get the rental. Buy another $2m for own stay. Because $3m is self-paying from rental & bank will consider that as such, so the person's actual instalment is for the $2m property which to the bank becomes easily affordable. That is how people get rich playing properties (and how businesses and property developers earn so much money by leveraging). Without leverage, no way anybody can earn so much money (especially if the person has limited capital).
Originally Posted by andy
Lehman brothers also leveraged maybe 50 or 100 times. See what happens when things go wrong.....Dangerous to play this way if it is your money. Cannot rent and no job, you will lose 1m when banks reposseses both properties.Originally Posted by teddybear
Bro Honesty is right. Just ask our parents in 96 - 97 what is the TD rate.....at least 6%. And if you do a BTMM SI on Bloomeberg and right click on SOR (it is the more relevant rate instead of SIBOR IMHO) GPC, change the date to around July/Sep of 2001 (that's the earliest I can stretch) and you can see interest rate can spike up from below 1% to over 3.5%/4% over a period of 3 - 3.5 years. Factor in the spread over SOR and we will know how much more we need to pay.Originally Posted by teddybear
When I was checking with citibank a few months ago, they are willing to lend upto 50% monthly pay for installment for own stay property, assuming currently u don't have any outstanding loan at all.Originally Posted by andy
hahaaa ... funny pix ... well the article which someone shared said this:Originally Posted by jlrx
"The only exception will be uncompleted private residential projects where units had already been offered for sale under IAS before Sept 14."
But it seems like bargainhunter got news that Interlace not offering IAS - so it depends on the developer lor. For 100 Trees got lah
How big are the 2 bedders huh? Maybe they waiting to sell all so by then no need to build showflats liao lor ... where got take so loooong to build showflat oneOriginally Posted by bargain hunter
little kid dun sprout nonsense from your little brainOriginally Posted by dtrax
Interlace sales is so bad
everyone knows that
bro this is not the way you check history quotes. you should doOriginally Posted by blackswan
SORF3M Index GPO D
and you can get as early as you want.
I just check from 1999 to 2009. The peak is at 29/6/06 at 3.96815 and it lasted a few days. For the same period, Sibor3M peak at 3.5.
You also should remember in the past, there is no sibor/sor pegged package. All are at the mercy of bank's "board rate", which they can charge whatever they want. Now with DBS doing NS helped to start the transparent sibor/sor linked package, with a 100bps spread you should at most be doing 4-5%. I'm more inclined with teddybear's reasoning: 7% rate is not impossible, but that won't be something that last. And if that happens, I'd imagine the STI will be at 4000. There are other things to worry by then. For now, budgeting with a 4/5% interest for mortgage is prudent. But if you are budgeting with 7%, you simply dun have the capacity for risk taking, and should stay out of this pty business altogether.
the showroom is only under construction now and will only be up in Feb 2010! People buying now are buying off plan and one impressive model, i must say, located opposite The Cosmopolitan at River Valley Road.
Originally Posted by august
at least they tried to maximise already, 99 year lease started in feb 2009.
someone told me it will take at least 40 months to build. given that the temporary leases of gillman heights run to early 2010, tearing down and building it will indeed last to the very earliest late 2013 and latest early 2015, very hard to estimate when exactly it will TOP given the scale of the project.
Originally Posted by Honesty
Reminds me of the old days.Originally Posted by Honesty
Pal, you remember e CEO then?
But I live through, good times or bad times
1996-97 was quite recent, how come must "ask our parents"? I think blackswan may be quite young ...Originally Posted by blackswan
The hyperinflationary period of the early 1970's, when both inflation and interest rates were in the double digits, was also a time when property prices shot through the roof.
Mortgage rate reached 12% p.a. but then property prices were going up like 20% per year!
That was the first "explosion" that launched our family up a few notches, just because we own 2 prime-district apartments worth $100,000 each! (haha ... so cheap!)
So if another round of hyperinflation comes, it may not be such a bad thing.
Let's say interest rate returns to double digits e.g. 12%, and property price rises again at 20% per year.
In another 20 years, my properties will go up another 38 times.
Wow! I'll be worth a few hundred million! I'll make it to the Forbes Rich List!
But then if that happens, the minimum sum to qualify for Forbes will probably be raised to $ 10 billion.
Heard Phase 1 is almost all gone.Originally Posted by bargain hunter
Does anyone know if the 2 BRs released today are all taken as this will be the last lot of 2 BRs for this year.
at the gillman heights site, i saw a huge construction for the giant showflat. not sure what they will be including in there but i believe need not include 2 bedders which are flying off the shelves. not sure if the bigger units are selling as well though, i doubt so, commitment is too big. the tiny 2 bedders are 807sq ft and cost around 900k, those are gone the moment they are released. what surprises me is that the bigger 2 bedders are around 1055sq ft and priced at around 1.1m. i am surprised that those are selling well too. capitaland was going to offer IAS at 4 to 5% premium anyway (because the period is so long between now and TOP) so they probably thought its a good chance to do away with it as buyers won't be too keen to pay a 4% premium anyway. And they can show govt linked company very guai, comply with the new rules even though they did not need to.
Originally Posted by cheerful
don't understand why you are shooting poor dtrax. he is agreeing with u!
i, however, disagree. i know for sure that at least 200 to 300 units have already been sold in the past week since the ex-gillman owners' big hoo-ha. i feel that that is impressive because there is no showflat! i am as disappointed as you are when i went to the 'showflat' to find nothing much to see except that big model. other people don't seem to care though. i think sales will slow from next week though as they have run out of 2 bedrooms to sell. now left with all the 3 bedrooms and above which are not very "affordable". there is no point debating this here. watch for capitaland's announcement, if they do decide to do one, on Tuesday, after this long weekend's sales.
Originally Posted by NoodyGirl
i am not sure about the take up rate but have been told that this is really the final release for 2 bedrooms till next year. i think they have sold too many 2 bedrooms vs the bigger units so there is already imbalance. they will probably wait for better sales of 3 and 4 bedroom units before selling any more 2 bedrooms and i believe they will indeed need to wait till next year before the 3 and 4 bedders in the same blocks as the 2 bedders to be cleared. LOL.
Originally Posted by andy
Hi all, new in this forum, just wondering all of you seem informed. even know how the sale result, believe most r agents or seasoned property investors. Nice to know all. Cheers
welcome to the forum proppop1! i think most of us discussing actively here are probably not agents. agents are quite busy people these days you know (whether their efforts translate to sales or not is another thing). there are many seasoned investors here or just a small time property buyer like myself. most of the info i get from agents whom i have known for quite some time so i feel i can trust these select few. the rest of the info is pretty transparent public information from www.ura.gov.sg and newspapers like Business Times, Straits Times and Channel News Asia website.
Originally Posted by proppop1
Does that mean Interface is doing fine?Originally Posted by The Straits Times
Pent up demand lah, the only way to prick this bubble ( if any )Originally Posted by bargain hunter
is to raise interest rate...