Why sporean so crazy about condo?

[Roh96]

This project made to the news headline as the most expensive 99 yrs condo in heartland area. Far East bought the land at 600+psf and with overheads and building cost it become 1000 psf. They can't sell it lower than that. I am going to see how Far East manage to get rid of all the units. In this period of condo fever, i think it is not difficult to find 300 suckers.

[Watwheels]

some people are just un-believably rich.

in my estate, an indo woman snap up 11 units. many not even rented out yet.

That sounds like overseas money laundering .

 

But I dun blame her cos indo can just turn into chaos by natural disaster or its ppl, have to park their money somewhere safe.

[Iforu]

I was at AMK central yesterday and decided to drop by this Centrio Residences showroom to look see look see while waiting for my gal to finish her class. I was shocked when i was told 80+ out of the 104 units on the phase 1 launch was snapped out just over the past 5 days. The price is over 1100+ psf, 2 bedroom unit cost about 1 mil while a 3 bedroom unit cost 1.3 mil onwards. So far most buyers are local and majority are HDB upgraders. There is only a few units of 2 bedroom units left and the floor area is pathetic 80 sq meter which is about the size of 3 room HDB. Unbelievable to see ppl paying 1 mil for such a small unit and is only 99 yrs lease term. I can only say many Sporeans are rich.

 

 

my uncle only pay 950k for a terrace 3 story in yew tee.

[Pentrain]

I was at AMK central yesterday and decided to drop by this Centrio Residences showroom to look see look see while waiting for my gal to finish her class. I was shocked when i was told 80+ out of the 104 units on the phase 1 launch was snapped out just over the past 5 days. The price is over 1100+ psf, 2 bedroom unit cost about 1 mil while a 3 bedroom unit cost 1.3 mil onwards. So far most buyers are local and majority are HDB upgraders. There is only a few units of 2 bedroom units left and the floor area is pathetic 80 sq meter which is about the size of 3 room HDB. Unbelievable to see ppl paying 1 mil for such a small unit and is only 99 yrs lease term. I can only say many Sporeans are rich.

 

Hi bro, the reason why it seems like it is snapped out so fast because they had a launch a week earlier for VVIP. It is only for those who have made an appointment with the agent and present a blank cheque upon visiting. Motive of blank cheque: to show interest before they would serve you.. what the....

 

most of the 2 rooms are already booked, meaning the buyer passed the black cheque to the agent. hence when it is fully launched to the public, all those who have booked are given priority.

 

i guess the location of the Centro makes it a perfect for investment, just across the road to the mrt. but i dislike the fact that they catered 20% less parking lots for the residents. i really wonder what if they face shortage of lots?? book a lot at amk hub for the resident?? lol

 

btw the maintainence monthly if not wrong is abt 300+ and you have to add another 100 if you are getting the parking lot..

[Rickster]

This project made to the news headline as the most expensive 99 yrs condo in heartland area. Far East bought the land at 600+psf and with overheads and building cost it become 1000 psf. They can't sell it lower than that. I am going to see how Far East manage to get rid of all the units. In this period of condo fever, i think it is not difficult to find 300 suckers.

 

But Ang Mo kio, Toa payoh, Tiong bahru are no ordinary heartlands.

 

You'll know it when a 5 room flat there costs more than half a million bucks.

[Roh96]

The HDB owners around that area is now laughing and thankful to Far East for launching such an expensive Condo, their house value is now raised to the next level. Just across one street only and sharing same convenient to MRT and HUB.

[Rickster]

my uncle only pay 950k for a terrace 3 story in yew tee.

 

Yap, landed properties in the outskirt areas are very cheap. $1mill +/- can get a decent unit

[Wreckwrx]

This project made to the news headline as the most expensive 99 yrs condo in heartland area. Far East bought the land at 600+psf and with overheads and building cost it become 1000 psf. They can't sell it lower than that. I am going to see how Far East manage to get rid of all the units. In this period of condo fever, i think it is not difficult to find 300 suckers.

 

Eff-Yee-Oh famous for .... and yet it never fail to amaze me how come there are still people willing to kena chop carrot.... And I hardly find anyone that actually made a killing buying their properties...

 

Anyway their pockets very deep one lah.... They can take forever to slowly launch, re-launch, re-re-launch and there have no urgency to get rid of all their units.

 

 

[Pentrain]

my uncle only pay 950k for a terrace 3 story in yew tee.

 

 

this remind me of Lexus Hill (terrace houses) just down the road, along AMK Ave 5, i tink it is around 1.6mil, forgot the price..

 

consider the price of Lexus Hill and Centro, one shld get the Lexus Hill..

[Tzeench]

I somehow agrees.

 

1100+ psf, I would be in Novena area with a freehold unit

 

There can be 2 schemes or more:

 

Standard scheme 5%+15%(2 weeks later) comes with bank loan (must fullfil min 70k in CPF)

 

or

 

defer payment scheme, just need to pay 1% without bank loan, b4 TOP got to look for a loan and top the balance.

 

bubble burst all die

 

[Wreckwrx]

i guess the location of the Centro makes it a perfect for investment, just across the road to the mrt. but i dislike the fact that they catered 20% less parking lots for the residents. i really wonder what if they face shortage of lots?? book a lot at amk hub for the resident?? lol

 

btw the maintainence monthly if not wrong is abt 300+ and you have to add another 100 if you are getting the parking lot..

 

Come 2015, everywhere in SG will have an MRT station liao.... maybe by then, people will pay more $$$ for locations w/o MRT for the exclusivity instead....

 

And 400 bucks for maintenance??!!!??!!!

[Wreckwrx]

I rather live in a spacious 5 room HDB than a pigeon hole Condo.

 

1 mil can buy a few very big landed property up north or down under.

 

Btw, nowadays a spacious 5 room HDB doesn't come cheap either.....

[Roh96]

Good location i agree, but the noise pollution is one big factor to consider with above ground MRT and bus interchange next to it. Imagine facing the noise everyday from 5.30am to 12mn. My parent's flat in Yishun is next to MRT and near main roads so i know every morning when i heard MRT sound and bus engine and braking noise, it is 5.30am liao.

Edited July 31, 2009 by Roh96

[Scenic98]

This project made to the news headline as the most expensive 99 yrs condo in heartland area. Far East bought the land at 600+psf and with overheads and building cost it become 1000 psf. They can't sell it lower than that. I am going to see how Far East manage to get rid of all the units. In this period of condo fever, i think it is not difficult to find 300 suckers.

 

this is so typical of Far East. Look at Rafflesia opposite RJC in Bishan. Still have empty units after 6, 7 years.

 

Not sure if those that bought know how to do their sums. How much rental they need to get to cover their monthly mortgage? With that kind of expected rental that they will have to ask, what other choices do tenants have in other more convenient location.

 

but then again, let these suckers buy....then my valuation of my place will go up....

 

[Stary]

defer payment scheme, just need to pay 1% without bank loan, b4 TOP got to look for a loan and top the balance.

 

I don't think there is such thing as 1% without bank loan until TOP. If it is, then it must be some sort of hanky panky.

 

I mean what if the buyer not qualified for bank loan? And the developer so stupid to "reserve" the unit for him until TOP only to realise he is not qualified for the loan?

 

If like that,. then even student can "buy" a 1 million condo. He just need to get $10k from his dad.

 

And I would be buying a few 1 million condo this weekend. Never mind if I doesn't qualified for loan since no bank loan is needed.

 

 

 

 

[Stary]

I was at AMK central yesterday and decided to drop by this Centrio Residences showroom to look see look see while waiting for my gal to finish her class. I was shocked when i was told 80+ out of the 104 units on the phase 1 launch was snapped out just over the past 5 days. The price is over 1100+ psf, 2 bedroom unit cost about 1 mil while a 3 bedroom unit cost 1.3 mil onwards. So far most buyers are local and majority are HDB upgraders. There is only a few units of 2 bedroom units left and the floor area is pathetic 80 sq meter which is about the size of 3 room HDB. Unbelievable to see ppl paying 1 mil for such a small unit and is only 99 yrs lease term. I can only say many Sporeans are rich.

 

I can only say that come 2012/2013, these people would have wished they have never bought.

 

property prices will be so depressed by then that nobody even wants to talk about it.

 

 

[Sparks]

Just look at the news today, the new condo at Tanah Merah. People queued overnight for the launch. Madness.

[Wind30]

I think the developer is not being truthful.

 

Seriously, u guys think got people buy AMK 99 year condo at 1100 psf????

 

I only believe when developer says the entire place is sold out. Which was the case when the property market was really hot. If really got buyers, it will be sold OUT. not err 80% sold, u can still buy but must hurry...