What makes a condo valuable?

[Wt_know]

seriously, many colleague said the same thing after they commit a condo

ah Q thinking that regardless the condo is over-priced, just take it as long term investment and "force saving" ...

5,10, 15 years later .... 99.99999% the property price will not lower than what is bought today

just like today property price will never return to 10-15 years ago

Edited February 18, 2014 by Wt_know

[Bystander50]

 

No more free cash to spend on other stuff. All your money is saved for your condo's payment.

 

Not necessary, I still see people spending on big ticket items, not much changes to their previous lifestyle.

Maybe it's the minority that I know.

[ShepherdPie]

what is mod ? this one wrong topic!!

[Chowyunfatt]

Its always about location. Those who think otherwise are kidding themselves

 

You dun bluff … If the Condo Pool Side got pretty girls laying around everyday, you will buy regardless of location …

[Throttle2]

 

You dun bluff If the Condo Pool Side got pretty girls laying around everyday, you will buy regardless of location

Japanese ones especially, comfirm he buy even in woodlands.....muayhahahaha

[Rickster]

I used to think that location and freehold are some of the more impt factors that increase the value of a condo.

 

But now after seeing such high prices for some 99 year old condos in OCR makes me wonder what makes a condo valuable. Furthermore these condos are not exactly very near MRT.

 

Could it be age? New condos always more expensive than older ones (even 2 year old). Like cars?

 

What estates in OCR are expensive? I certainly wouldnt want to stay in areas like Eunos, Geylang or Bedok.

 

Been observing this trend too. Maybe it could be due to the rental it can fetch.

 

Assuming both the FH and LH99 condo are located in the same location, the newer condo is likely to fetch a higher rental regardless if it is a LH or FH. Price of condo is largely affected by the rental it can fetch.

i understand but what i dont understand why are new 99LH condos in OCR that are relative near to MRT more expensive than FH condo in equally good location?

 

i can only guess its due to age.

 

Agree.

[Rickster]

but if, in a few months time, we start to see all the caveats lodged, then how do we explain this phenomenon?

 

my guess is that these buyers are real buyers...hence this all puzzles me

 

Perhaps it could be those <1 million 1 or 2 bedder condo that sells well in the OCR.

 

Looking at the starting pay for fresh grads to be around 3-4K nowadays, a young couple in their late 20s can easily buy a 2 bedroom OCR condo in the range of 600-800K, if they manage they manage their money well.

[Chucky2007]

My first property more than 10 years ago was a hdb 5 room flat that's 300+k in a mature estate with 5k cov.. That time everybody rushing to buy smaller 3 room and 4 room flat with 20+-40k cov. First thing I did was to rent out 3 rooms while I stay in 1 room when me n wife combined income is very little.. over years we work and save the rental...

 

Then in 2009 sell the flat and moved on to the next 2 property and 1 of them is a 1700sqft old apartment that super cheap and another 1500sqft old condo that's relatively cheap as everyone is rushing to showflat and snapping up new n more expensive units.

 

sold the old apartment in less than 2 years n make almost 70% in return..

 

I viewed almost 30 units of hdb when I buy the flat, and viewed almost 60units of private property.. cost if burning many weekends just doing viewing. In 2013 only viewed DUO residence and kicking myself for not buying bec think too much into ABSS.

 

Nowadays a lot of people very rich, buy big ticket items like property only view less than 10 units.

 

I agree totally with Porker that property is still about location..

 

Nowadays most people buy a sub urban condo from developer at 1200psf all kanna chop by developer.. if those hillview or woodlands condo buy at 1200psf now, and can sell 1400psf in 5 years time, a 1800 psf at OCR can easily offload at 2100-2200psf... That making 200more psf in the future.

Lots of property that's cheaper than New launches..

 

if buy a new launch at tanah merah for 1200psf, and existing older 5-6year old condo around there also sell 1200-1300psf... Then the existing condo can fetch a rental of 2.5-3.5% rental, and after 4 years, the total rental collected would reduce the entire property purchase to 1000-1100psf even if they are 5-6years older.

Edited February 23, 2014 by Chucky2007

[Porker]

 

You dun bluff … If the Condo Pool Side got pretty girls laying around everyday, you will buy regardless of location …

 

...

Japanese ones especially, comfirm he buy even in woodlands.....muayhahahaha

 

muayhahahaha