Why sporean so crazy about condo?

[Tigershark1976]

like what the rest of the bro/sis here said, its status... y are there people getting a BMW 735 where a 325 will also do the job. Do we really need the additional 1000cc capacity? How fast can you travel in SG? for the bigger space? then a cheap Korean MPV would be a better choice tha a 735. But then, why people go for a 7 series?

[Roh96]

Car as status symbol i can understand lah...it follows u wherever u go and ppl can see it. House? Who really bother what house u stay really. Moreover is just a pathetic pigeon hole and is only 99 yrs lease.

[Fenderbender]

Interest rates have been squeezed so low that people are 'encouraged' to spend money, be it property or equities as a hedge against inflation. Just pure desperation to spend money first for fear of inflation eating it away slowly. Prices rise as long as there's another sucker willing to pay more. But it's like playing musical chairs, you don't want to be the last one holding the bag when the bubble bursts. Which was exactly what happened to many a year or so before.

 

Two years ago or so, I was on a bus. I group of ah-pek retiree types were talking loudly amoungst themselves, boasting how 5, 6 digit profits can be made by flipping condos. Where the hottest units were, etc. Those were the days where you read in the news of long long queues for property launches.

 

These are the times you want to be very careful, you know the bubble is about to burst, and it did. Well, those days are back again. The interesting difference this time is prices are up not because of genuine reasons such as a good economy, but 'cheap' money/credit flooding the market.

[Dymatize]

I think MRT noise issue is not significant, I have friends who stay at some condo near MRT.

To my surprize the noise was quite minimum.

 

But I think Bus exhaust and noise may be a bit of problem.

Generally speaking. Condo near MRT will be good for the family member who are not driving.

 

For Condo near MRT, I think better choice will be those not at the centre of the Hub.

e.g Tanah Merah, Kambagan and one more at the west. They are convenient but yet not too far from HUB.

 

BTW, Singapore is very small (size I mean, it is big in some other way),

I think no where in Singapore is far by international standard.

I use to drive 40 minutes to work on expressway when working oversea.

 

At some city, the middle upper class actually prefer to stay away from the city.

 

The really rich will have one villa outside the city and one apartment in the city, plus many many more.

 

But on the whole, we must all be grateful that most people here have a roof over their head.

To be able to pick, choose and complain is a blessing from heaven.......

 

Go to some third world country and see how lucky we are.

 

Just my opinion

 

i went to check out the Metropolitan at redhill. Even on the 20+ floor, the noise from the MRT is significant

 

[Roh96]

$1100++ psf can land you a unit at Rivergate in River Valley. Not that its a very nicely designed development but still its in RV and that means something at least.

 

Paying this price for a c**p (you fill in the blanks) development from a c**p developer is just.... Wonder what these people are thinking.

 

Exactly, i also wonder what those ppl are thinking. Imagine several years later that they tell their friends that they bought their house during recession period and pay >1mil for a 99 yrs condo, worse have to queue up to throw cheques.

[Thargor]

I used to ask this same question too...whats the big deal about 99 yrs condo? Why do people even bother to consider let alone buy one.

 

Today I am staying in a 99 yrs condo...115 sq m(3+1)...and if someone were to ask me this crazy again...i guess my answer is simple.

 

1. My wife and I don't qualify for new HDB and looking at the price of resale HDB, its just not 'worth' it. The price differences between my place and a HDB EM is round +- 100k...so the gap is not that wide anymore. And I am buying to stay and not for investment.

2. The security that comes with staying in a condo (you may say its perceived security but even that is better than nothing).

3. The facilities...yeah some of you may think it's overrated but a condo with full facilities can make a lot of differences in one's daily life. A pool big enough that I can't swim across holding one breath...proper tennis courts...function rooms and BBQ area. It makes a difference actually. When I am really tired from work, i can just pop down for a swim.

4. I always get a parking lot.

 

Enough said, I don't really care about the so-called 'pride' to stay in private property. Hehe heck..its a 99 yrs property...but the convenience it bring to me and my wife...and for my kid next time...it's something that can't be measured by $$$ alone. This is from someone that has stayed in HDB for over 30 yrs.

 

 

Just my take on this.

Edited July 31, 2009 by Thargor

[Echo_o]

A friend in construction once told me these developers get their friends to bring dud cheques to book units during launches. After that they announce a large amount sold during launch to generate interest. Once buyers start to bite, those units initially booked with dud cheques are slowly released again back on sale.

[Ryanyusoff]

crazy mentality.pay so much for facilities which don't use everyday.and the space in the apartment is so much smaller than a normal flat.

[Vextan]

i have a friend staying in a condo in toa payoh, being a long time close friend, he actually adviced me against staying in condo. cos he say pay the maintenance fee every month but never use the facilities one.

[Jolie888]

Car as status symbol i can understand lah...it follows u wherever u go and ppl can see it. House? Who really bother what house u stay really. Moreover is just a pathetic pigeon hole and is only 99 yrs lease.

 

Agree.

 

Owning a 7-series or an S-Class is considered a status symbol - e.g. at business meetings, black-tie dinners, gala ball etc.

 

If you want status symbol properties, get the GCBs in D.10, or up-scale prime apartments in D.9/10 from Nassim, Ladyhill, Scotts, Stevens, Grange, Tanglin areas.

 

Owning a 99-yr leasehold, 2/3-roomer, especially in non-prime-district (i.e. outside of D.9/10), outskirts AMK, is definitely not anywhere near any status symbol, by any measure.

 

 

[Wind30]

A friend in construction once told me these developers get their friends to bring dud cheques to book units during launches. After that they announce a large amount sold during launch to generate interest. Once buyers start to bite, those units initially booked with dud cheques are slowly released again back on sale.

 

Is this true? I really suspect this is such the case. The centro pricing is so OUT of whack that I find it really hard to believe there are 80 people who will actually buy it....

[Echo_o]

Yes, Just one of the many marketing gimmicks they pull.

[Qinglong]

there are so many tactics used by agents.

 

80% sold, but never say it's for phase 1 only for example.

[Drive_carcar]

That's a very good truthful answer. There are some perks in living in a Condo, comparing to the run of the mill HDB. The facilities, the quality of fit, even the layouts are also better.

 

Now I'm staying in an EA in Punggol, which supposedly is not that bad. But if one look closely, there are areas which still suck. The carpark is very dirty, the children playground is vandalized, the lift smells, and there's dog poop every here and there, so we gotta be very careful where we walk.

 

Comparing the difference in maintainance fees we pay, you get more value staying in a Condo.

[Ahseng]

all the buying frenzy only further remind me that i'm a lowly peasant. zzzzz

[Vextan]

all the buying frenzy only further remind me that i'm a lowly peasant. zzzzz

there's people who are poorer than you if you want to compare. at least you can surf net and has a job and i presume drives a car, already quite good liao. also i presume you have a mobile phone, lcd tv, and beautiful wife, or kids ? use some spare cash to buy toto la.

Edited July 31, 2009 by Vextan

[Ahseng]

there's people who are poorer than you if you want to compare. at least you can surf net and has a job and i presume drives a car, already quite good liao. also i presume you have a mobile phone, lcd tv, and beautiful wife, or kids ? use some spare cash to buy toto la.

 

lol, tried yesterday but only strike 2 numbers. No fate with the millions

[Iforu]

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..

 

 

crazy. my fren condo at yishun, 4 room. maintenance 280/per month include 2 parking lot.