Posted 08 April 2013 - 08:57 AM
But caveat emptor so buyer has to bite the bullet if he wants his dream home I guess.
From ST Forum:
$200,000 for air-con space?
Published on Apr 08, 2013
THE Government has introduced several rounds of measures to rein in the continued rise in property prices. There is some effect, yet property prices are holding their own.
Recently, I visited a couple of property launches.
The showflats attracted quite a crowd and the boards indicated
that many units were sold - clear evidence that there was no shortage of buyers.
I was told that, at the offer price of about $1,300 psf before any stamp duty, the apartments should be a worthwhile investment for my own stay or rental income.
When looking at the price list, I noticed that there was a sizeable area set aside for holding the air-conditioning equipment.
A unit with a total saleable area of 61 sq m had 14 sq m provided for air-con space.
A quick back of the envelope calculation suggested that the buyer will be paying about $200,000 for the space to house the air-con.
Considering that a multi-split air-con system costs about $3,000, I find this situation incomprehensible.
To be sure that I was not mistaken, I sought confirmation from the agent, who assured me that the 14 sq m of "air-con" area is indeed chargeable, and that the cost is to be borne by the buyer.
This must make Singapore one of the most expensive places in the world to install an air-con system.
To have living space costing in excess of $1,000 psf for suburban localities already makes Singapore property prices one of the highest in the world.
To have air-con space costing $200,000 should be a wake-up call for Singapore to seriously re-examine its land valuation model.
Philip Toh Kee Poon
Posted 08 April 2013 - 09:12 AM
Posted 08 April 2013 - 09:25 AM
Posted 08 April 2013 - 09:29 AM
HK even more wierd.. They take the total common area (like lobby, swimming pool, car park etc), then divide it equal among all the units in the development, then include the area into the cost of your apartment..
of course the psf price already factor in everything (total land of the project), then they make you pay for using them every month
Posted 08 April 2013 - 09:30 AM
Posted 08 April 2013 - 09:30 AM
Why private apartment need 14 sqm for aircon, when BTO needs only 3sqm? What was on the developer mind they they planned for the aircon area?
BTO aircon ledge is 3m squared leh... how to compare to 14m squared
Edited by Ender, 08 April 2013 - 09:31 AM.
Posted 08 April 2013 - 09:31 AM
HK even more wierd.. They take the total common area (like lobby, swimming pool etc), then divide it equal among all the units in the development, then include the area into the cost of your apartment..
nothing weird. that's similar to the MCST shared value for sgp pte property. the construction floor area price is built into the cost of the unit. so when hdb leasees comprain hdb charge them for season parking when their fren's condo got 'free' parking, they are mistaken.
Posted 08 April 2013 - 09:51 AM
people buying all these dbss, condo stuff already know these are un-usable space
this is because URA gives a 20%? of these "open spaces" for free to developers to encourage greening of condos, such as roof terrace, roof garden, balcony
however, developers push these 20%? ( i am not sure of the %) to the max and sell it as "open spaces" to owners
these open spaces can come in various forms: 1) roof terrace, 2) roof garden, 3) balcony 4) aircon ledge
in my opionon, the first 3 types make sense for owners but the last make no sense
but things have changed since URA came down hard on developers on these "open spaces" due to the giant EC penthouse
under the new ruling, when developers sells any of these 20%? to owners, URA will levy a charge of donno how much
but these 20%? open space will be free to the developer if it is not sold to any units, ie bigger swimming pool, comnual rood garden
this would make units with any of these "open spaces" more expensive because these "open spaces" is no longer free to the developer
this would mean that new condos will come with very small 1) roof terrace, 2) roof garden, 3) balcony 4) aircon ledge
but will come with giant communal space such as swimming pool or roof garden
Posted 08 April 2013 - 09:55 AM
Posted 08 April 2013 - 10:26 AM
Yah, buy hdb better, pay $0 for the aircon ledge.
My 4 room flat is 104 sqm. I ever measured and add up all the interior floor space and it is about this figure, excluding the exterior aircon ledge.
104 sqm? 4-rm HDB flat? Got so big meh?
Which area leh?
My previous old 4-rm flat in Clementi (say, around 30 years old) is only 90+ sqm. leh.
And I'd assuming 'older' flats are bigger in area?
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