Originally Posted by
land118
i know the area, stay nearby at Ser Gdns, was down on sun with another friend - a neighbour who wanted to KPO. 5pm already, Agent say quickly give cheque b4 they close at 8pm, showflat not open for viewing. Deadline for cheque was 8pm so that can ballot on wed. Must give blank cheque.., sound really crazy. was quoted at ave. $1200 psf. Agent also don't know launch price on sun. 5mins after i drove off, Agent called my mobile asking me "how". Next morn, 7.30am, raining so heavy, so nice to sleep. Agent sms me, say he got approval to extend cheque deadline submission to 10am on monday. He say can come to my house to pick up. After considering, i replied, sorry, decided not to invest.
My reasons: ( personal - not to spoil pple who bought):
1. at $1150 ave - as stated in tis morn ST - very pricy for 99LH. Even have Aussie & American school, not many angmo will want to cramp into a 1-2 bedder. Most Angmo who already need to stay around the area are willing to get a big 3-4 bedder type or rent landed at ser gdns. My neighbr is Angmo with family. Hus & wife with 2 kids. I see many Angmo families now stay at ser gdns with kids.., some cycling to Aussie school. So for pple who think want to rent to Angmo...maybe possible but certainly not the 1-2 bedder type unless single Angmo - maybe teacher who come 1st before they families get here.
2. Have a cousin staying at " The Chuan" 2 bedder - last time bought at S$700psf, believe it is FH or 999 ..., confirm that although popular with angmo becos it is just beside the Aussie school, most Angmo with families won't cramp into a 2 bedder there. In the morning, Lor Chuan road is jammed...on the way to Braddell towards CTE.
3. Have an auntie - staying at Chuan Park, 99LH ...also 2 bedder...bought at $500k for 1173k sft apartment. Checked URA website, in June such unit transacted at S$900k, work out to be $700+psf.
Although old, but spacious, potential en-bloc type...30yrs already, Chuan Park condo is just beside MRT also, right at the junction. If want to invest and rent, believe Chuan Park give better yield.
4. Then you have FH condo Golden Hill Park Condo at Mei Hwan drive, actually it is just opposite Chuan Park Condo, years ago when launched i went to see, launch at S$700 psf. Check URA website in Jul 2010, transacted at S$1.068mil for 926 sft 2bedder, work out about $1154 psf. This one have side gate...just opposite MRT entrance at the traffic light junction. Convenient also. Just no covered linkway.
5. Therefore, give all the above thinking, i decided not to invest. For me, 99 yrs...in bullish market, best rental yield compared to FH, in term of crisis, 1st to plunge, be prepared to lose 30-40% and when mkt recover, flavour of investors changed already, may not recover to launch or pre-crisis price. This we have seen in 1997 crisis or last year.
For me, if have $1.5mil, instead of investing in a 4 bedder at Scala - only 99LH , 1270 sqft, i would rather scout of landed - 999 at Ser Gdns, just across the road, at lanes like Cardiff Grove, Colcester Drv, still have smaller units of land 1840sft type single story, build-in area of 1400sft...take $100k to do simple reno and enjoy. No need to pay parking lot or maintenance. Want facilities, join Serangoon Gardens country club (market is only abt $16k membership - now on wkend many angmo there as Term member), no need to pay condo maintenance.
Just some thoughts. For buyers who buy to stay, safer bet - UP or Down, no need to care so much. For Investors who want to rent, few condos next to Scala give better yields..., for investors who want to flip...- lock in fast when you see profits becos Singapore economy is good this year, am sure you can make some $$ before Dec...
Good Luck.