Wt_know Supersonic November 1, 2012 Share November 1, 2012 (edited) huat ah!!! $12k combined income can afford $1.77M penthouse liao gurmit well done Owners of S$1.77m condo unit are a young couple By Lip Kwok Wai, Dylan Loh | Posted: 01 November 2012 2024 hrs SINGAPORE: Channel NewsAsia understands that the owners of the record-setting Heron Bay penthouse are a young couple, who are also first-time property buyers. The unit was sold for S$1.77 million - a high price for an executive condominium in Singapore. Couples cannot exceed a monthly household income of S$12,000 if they want to buy an executive condominium unit. Analysts say the buyers of the five-bedroom, over 2,800 square-foot penthouse, while not exceeding the income criteria, are likely to come from wealthy backgrounds. To date, more than 90 per cent of Heron Bay has been sold, since it was launched last week. "Although the penthouse is priced at more than a million dollars, I think it's still value for money," said Micheal Tan, the executive director of Ho Lee Group. "Condominiums of such a size, such a (view), such a location, will cost you even more." The project by Serangoon EC, a joint venture company between CNH Investment, Evia Real Estate Management, Ho Lee Group and See Hup Seng, received more than four times the number of e-applicants for its 394 units. The condominium is located at Upper Serangoon View. Units in the project - which is expected to obtain a temporary occupation permit (TOP) in 2016 - sold for an average selling price of S$725 per square foot. Mr Leslie Lim, Managing Partner of EVIA Real Estate Management, attributed Heron Bay's popularity to its product differentiation, saying it added "luxury touches" to mass housing. The development has five-bedroom units and features such as ensuite private pool-cum-jacuzzis or gardens, fish ponds for ground-floor units and complimentary fibre broadband service for the first year of occupancy. - CNA/TODAY/xq Edited November 1, 2012 by Wt_know ↡ Advertisement Link to post Share on other sites More sharing options...
Vectrasonic 2nd Gear November 1, 2012 Share November 1, 2012 If family is rich, why not. EC is the BEST ROI! Link to post Share on other sites More sharing options...
Wt_know Supersonic November 1, 2012 Author Share November 1, 2012 (edited) any rich divorcee tai-tai looking for godson? Edited November 1, 2012 by Wt_know Link to post Share on other sites More sharing options...
Old-driver 5th Gear November 1, 2012 Share November 1, 2012 (edited) Its a con-job. What sandwich class? 20% downpayment is $350k +. A loan of 1.4M on a 30-year tenure and a interest rate of 2% will set them back $6k monthly easily. When interest rate goes up this guy cannot sell for 5 years see how he run Edited November 1, 2012 by Old-driver Link to post Share on other sites More sharing options...
Wt_know Supersonic November 1, 2012 Author Share November 1, 2012 (edited) news reported probably got rich parent support ... so bo tai ji Its a con-job. What sandwich class? 20% downpayment is $350k +. A loan of 1.4M on a 30-year tenure and a interest rate of 2% will set them back $6k monthly easily. When interest rate goes up this guy cannot sell for 5 years see how he run Edited November 1, 2012 by Wt_know Link to post Share on other sites More sharing options...
Mahjong74 Supercharged November 1, 2012 Share November 1, 2012 Its a con-job. What sandwich class? 20% downpayment is $350k +. A loan of 1.4M on a 30-year tenure and a interest rate of 2% will set them back $6k monthly easily. When interest rate goes up this guy cannot sell for 5 years see how he run The young couple may have come from a wealthy family. It's possible that their parents help to contribute a 60 to 80% downpayment and the young couple only need to take a loan of 300 to 400k only. Link to post Share on other sites More sharing options...
Felipe 3rd Gear November 1, 2012 Share November 1, 2012 huat ah!!! $12k combined income can afford $1.77M penthouse liao gurmit well done Owners of S$1.77m condo unit are a young couple By Lip Kwok Wai, Dylan Loh | Posted: 01 November 2012 2024 hrs SINGAPORE: Channel NewsAsia understands that the owners of the record-setting Heron Bay penthouse are a young couple, who are also first-time property buyers. The unit was sold for S$1.77 million - a high price for an executive condominium in Singapore. Couples cannot exceed a monthly household income of S$12,000 if they want to buy an executive condominium unit. - CNA/TODAY/xq don't think require income ceiling to buy resale EC. it's only for new EC. Link to post Share on other sites More sharing options...
Wt_know Supersonic November 1, 2012 Author Share November 1, 2012 (edited) win-win the parent also can leverage on their kid as 1st timer for property flipping no $3M no sell The young couple may have come from a wealthy family. It's possible that their parents help to contribute a 60 to 80% downpayment and the young couple only need to take a loan of 300 to 400k only. Edited November 1, 2012 by Wt_know Link to post Share on other sites More sharing options...
Ender Hypersonic November 1, 2012 Share November 1, 2012 don't think require income ceiling to buy resale EC. it's only for new EC. But this couple buy heron bay, just launch a couple of weeks. SO should be subjected to HDB 12k ceiling. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic November 1, 2012 Share November 1, 2012 Analysts say the buyers of the five-bedroom, over 2,800 square-foot penthouse, while not exceeding the income criteria, are likely to come from wealthy backgrounds. this one alrady explrain liao.... scarli they never even take loan, one time hoot cash Link to post Share on other sites More sharing options...
Ivan_06 5th Gear November 1, 2012 Share November 1, 2012 Its a con-job. What sandwich class? 20% downpayment is $350k +. A loan of 1.4M on a 30-year tenure and a interest rate of 2% will set them back $6k monthly easily. When interest rate goes up this guy cannot sell for 5 years see how he run you all green eyes ah? news already reported their parents are filthy rich and helped them with the payment loh.. LMAO Link to post Share on other sites More sharing options...
Estrangable 5th Gear November 1, 2012 Share November 1, 2012 you all green eyes ah? news already reported their parents are filthy rich and helped them with the payment loh.. LMAO of cos i am green with envy! Having a rich dad to pay for downpayment....reminds of my friends whose in laws paid for 40% downpayment for their multi-million condos... Link to post Share on other sites More sharing options...
Ivan_06 5th Gear November 1, 2012 Share November 1, 2012 http://www.heronbaysg.com/project-informat...an-floor-plans/ if you refer to the last floor plan, its the 5 bedroom dual key penthouse unit.. They can easily rent out the 2 bedroom apartment and kitchen for 2-3k, while keeping the 3 bedroom cum penthouse for their own private usage.. Link to post Share on other sites More sharing options...
Ivan_06 5th Gear November 1, 2012 Share November 1, 2012 (edited) http://www.heronbaysg.com/wp-content/uploa...3-PH-5+1-DK.jpg Edited November 1, 2012 by Ivan_06 Link to post Share on other sites More sharing options...
Duckduck Turbocharged November 1, 2012 Share November 1, 2012 looks like 1000+sf of roof terrrace! hahaha super wasted space... Link to post Share on other sites More sharing options...
Ivan_06 5th Gear November 1, 2012 Share November 1, 2012 looks like 1000+sf of roof terrrace! hahaha super wasted space... this one considered good liaoz.. some roof terrace doesn't even have bedrooms on it.. lol mai green eye lah.. u cannot afford right? i admit i cannot afford lah and i am cool abnout that. Link to post Share on other sites More sharing options...
Atonchia Supersonic November 1, 2012 Share November 1, 2012 (edited) The couple must be military buff. Get to see and hear fighter jets take off daily, sometimes at night too. I can imagine the thrill to see the 15SG afterburners and the roar of those jets. Nice. Definitely worth every penny paid. Edited November 1, 2012 by Atonchia Link to post Share on other sites More sharing options...
Kyrios Turbocharged November 1, 2012 Share November 1, 2012 This is indeed bad news for single guys like me...girls out there will demand more now prior to accepting marriage proposal. ↡ Advertisement Link to post Share on other sites More sharing options...
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