Why sporean so crazy about condo?

[Nutsack]

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.

 

Sometimes I don't get why people want to buy a tiny condo that's smaller than a 4-room with ceilings so low that you bump your head if you hop. I've been to so many and allow me to say, no thank you.

 

I find that a good majority buyers of these condos simply want a condo for its namesake. So they can "I stay in a condo". I know a few whose main reason for buying a tiny condo is "because I don't want to stay in HDB with that kind of people". Just incase, people who buy a big spacious condo - assuming they're not digging a huge credit hole for themselves - are not the ones I'm referring to.

 

I'd wait to be able to afford something bigger and more spacious. But who am I to say anything anyway. I'll hug my money and watch these people from the sidelines.

Edited July 31, 2009 by Nutsack

[Yaloryalor]

Haven't you heard of the 5Cs??

 

I think for the 5Cs, Condo should be the most difficult to get.

[Princey_anne]

Actually if you have 50% payment for a condo, it is ok to buy. Having a second home is good at least has some rental for old age.

[Jacf]

to me, AMK hub area is just too messy. ... it doesn't give you a relaxing feeling when you are there... at least to me...

i stayed near AMK town centre for over 20 plus yrs .. seen the transformation of the town centre from bustling to boring and then to bustling again..from fountain to emporium oriental to AMK hub..

 

eversince the AMK hub been opened, the roads beside it are always crowded.. esp so on weekends. But then it's town centre so must be crowded. For those living there or nearby, convenience is plus,but the noise and pollution is minus. cannot have best of both worlds.

 

[Bismarck]

Some say this is a property bubble which will burst soon. Others who say it's just a "glorified" pigeon hole, and anyway it's only 99 years lease. Some others would say a 3 rm HDB flat provide the same roof over the head as a condo anyway, why blow money on such things? Anyway some condo units are even smaller than their 4NG HDB pigeon hole. It's like saying the rest of the people who stay in their HDB pigeon holes are smarter that idiots who queue up for days to book a condo, that they know somethings that people who buys condo don't.

 

It's not that there's no merit in what these people say. People have a lot of their own reasons to prefer and aspire to live in a condo, just as there are people who are so darned rich, yet prefer to stay in a "lowly" 3 room HDB pigeon hole.

 

My view is, if can afford to, why not? What's the point of making so much money and yet not living it up, getting slightly better things in life? What's the motive in commenting about people who buys condo as if these people are fools? Sounds a lot like sour grapes to me.

 

To summarise your post, it is matter of preference and choice. Some people think is worth it, some dont. Some people just buy for the sake of investing, some buy to stay. All of us have different reasons for buying a condo, or not buying. But what I would like to say is, buy within your means. If you can afford, and you wants to, then go ahead. If cant afford, stick to what you have for the time being.

[GoodCar]

Not sure if can siam ah long but if its for a sense of security, i agree.

 

i am now waiting for the right time to buy a condo and the reason why i am buying one is due to security. Nowadays, more and more foreign imports and everytime when i open the papers, always see robbery and etc... not saying that staying in condo is safe from robbery but at least there is a guard and i dun have to worry about my wife or daughter coming back home late from taxi...

 

my car kena paint droplets when HDB renovate my HDB flat... not just once but 3 times!!! town council not able to help, contractor siam my calls and sms... downstair always got a gang of rascals making noises and disturbing pple at night... !! i have enuff of all these s--t... paying so much for a HDB to get these!

 

 

U will see more FT in condo hehe...

[GoodCar]

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

 

Try other then..:)

 

May be also I am a bit less sensitive to noise.....hehe

 

[Creative_tec]

U will see more FT in condo hehe...

 

i am fine with FT generally if they are here to work.

 

some FT are on a lower pay scale and they resort to committing crime just to get more $$... these are the FTs that i really wish to avoid staying around with.

Edited July 31, 2009 by Creative_tec

[GoodCar]

 

Heard people said that when Sir and mdm go work to pay for their Condo, maid get to enjoy the condo? Any opinion?

[Sir8]

What's yours?

 

Heard people said that when Sir and mdm go work to pay for their Condo, maid get to enjoy the condo? Any opinion?

 

[Hamburger]

I live by e sea....600m away to b exact

don noe why my condo don appreciate tat much while soon to be built one nearby r so ex.

 

but hey....why tink too much??? i get to jog by e sea everyday n enjoys it wif my OC. guess its all abt contemplation.

 

 

[Mzrmazda3]

Tell me about it, when i heard the DJ(The Married Man) in FM91.3 mentioned about ppl queue up to throw cheques for condo, i couldn't believe it. Where got recession? Crazy buying.

 

Ya Loh ...

 

[Jolie888]

I find that a good majority buyers of these condos simply want a condo for its namesake. So they can "I stay in a condo". I know a few whose main reason for buying a tiny condo is "because I don't want to stay in HDB with that kind of people". Just incase, people who buy a big spacious condo - assuming they're not digging a huge credit hole for themselves - are not the ones I'm referring to.

 

But with an 'elitist' view like that, then the true Singaporean elites can also say "I don't want to stay in outskirts condos, especially those 99-yr lease ones, and mix around with that kind of HDB upgrader people". So all of them will cocoon themselve in their super-prime D9/10 enclaves.

[Hub_n_mona]

But with an 'elitist' view like that, then the true Singaporean elites can also say "I don't want to stay in outskirts condos, especially those 99-yr lease ones, and mix around with that kind of HDB upgrader people". So all of them will cocoon themselve in their super-prime D9/10 enclaves.

 

you never know, there are probably people like that

[Darth_mel]

Most Sinkies 没有上等命，想做上等人.

[Jacf]

just read ST papers today, saw many condo ads ..even those launched 1-2 yrs back with empty units.. looks like all developers want to quickly catch this wave before it disappears.. anyone sensing a bubble?

already got sub-sale ads for Centros(AMK) in classified section!

[GoodCar]

See ST today ....:)

[Nutsack]

But with an 'elitist' view like that, then the true Singaporean elites can also say "I don't want to stay in outskirts condos, especially those 99-yr lease ones, and mix around with that kind of HDB upgrader people". So all of them will cocoon themselve in their super-prime D9/10 enclaves.

 

Ya you're actually right. There'll be no end in it. But these people I know can't really afford to live in condo comfortably, but they're really pushing it without giving much thought to the financial side of things. I'm happy for them and can only hope that they don't get themselves into trouble.