Property

[Staff69]

Huat ah.....pappy pushing the fence squatter to choose

[Felipe]

I previously work with Far East under the property sales department and that's their practice, if you consider them as small developer then I got nothing to say lor

precisely. They have their own sales AGENTS to do it. Other developers don't hire agents and pay them regular salary unlike Far East. So they contract to certain agencies on commission basis to do it. Maybe u meant telling consumers to go to the developer's secretary or clerk to take orders? That'll be one hell of an overworked staff.

[Throttle2]

Down is where i see the property market broadly.

Good luck to those who still 挑起来卖

 

Sorry my chinese no good.

[Karoon]

Down is where i see the property market broadly.

Good luck to those who still 挑起来卖

 

Sorry my chinese no good.

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

[Wt_know]

EC 3-room close to $1M ($800k-ish?)

EC 4-room exceed $1M

EC penthouse and dual key close to $1.5M and several recent projects close to $2M

 

all buyers combined income are below $12K ... or bi good ... but many got richi parents ... bo tai chi

i suppose the parent cpf after selling the hdb probably sponsor $500K into the unit especially for penthouse and dual-key

 

 

imagine buying a $1m property when your combined income is below $12k

Edited November 17, 2013 by Wt_know

[Blackyv]

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

 

if im in your situation, i wont ... my wife also not working ever since we got married 7yrs ago, have 2 young kids (6yr and 2yr)...my current situation is 4-rm punggol flat(6yrs old) fully paid up by next feb'14, my car also fully paid up by jan'14 (left 3yrs).... so, im aiming for debt free ...and by then, building up retirement fund for me and wife, and study fund for my kids,...nothing else matters.......

 

perhaps due to where i come from, coming from up north, if im to go private, it's going to be landed or nothing... never a fan of condo or Ec (to me, it's just a private hdb with more bells and whistles but cost an arm and a leg...... anyway, im quite sure i cant afford a landed since im in a sunset industry, so that helps in my decision making as well, i dont have problem faced by those with more $$$..... hehehe....

 

[Soya]

 

 

And I will miss the heavenly feeling of being debt free :(

 

Dun mean it in any bad way but for hdb, being 'debt free' not much meaning. U can't monetise it thru a home equity loan and even hdb loan is only 0.1% above CPF OA. Plus, i assume you're not retired and are still collecting CPF every month. Since u say you're from finance industry, u shld know the diff between good debt vs bad debt.

 

Btw, $1M for 4-bedder EC is super cheap. For pte, min $1.8M liao.

Edited November 17, 2013 by Soya

[Throttle2]

 

Dun mean it in any bad way but for hdb, being 'debt free' not much meaning. U can't monetise it thru a home equity loan and even hdb loan is only 0.1% above CPF OA. Plus, i assume you're not retired and are still collecting CPF every month. Since u say you're from finance industry, u shld know the diff between good debt vs bad debt.

 

Btw, $1M for 4-bedder EC is super cheap. For pte, min $1.8M liao.

I also like the heavenly feeling of being debt free leh.....

[Wt_know]

the world would be perfect if there is no debt allowed? ... wahahaha

 

look at usa and the whole of europe, good debt turns into bad debt turns into incurable cancer

Edited November 17, 2013 by Wt_know

[Throttle2]

the world would be perfect if there is no debt allowed? ... wahahaha

 

look at usa and the whole of europe, good debt turns into bad debt turns into incurable cancer

Confirm, stamp and chop.....muayhahahaha

[Kangadrool]

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

Your "chickening" out from making that commitment, fortunately is the wisest decision in your life. Up John you 5. Don't loose sleep over that decision which was not committed.

Edited November 17, 2013 by Kangadrool

[Enye]

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

 

my preference would be the pte condo route and retaining the HDB

 

more flexibility but not at the current prices though

 

got money can afford doesn't mean jump in straight away

 

btw your finance job pay is very good imho

 

but some here will say otherwise

 

[Lala81]

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

 

I think some ECs are still ok, worth the $. But provided the location.

Nothing wrong with listening to your instincts.

[Karoon]

 

I think some ECs are still ok, worth the $. But provided the location.

Nothing wrong with listening to your instincts.

thats the pb with ECs, and reselling....

location, location, location.....

 

if you work in town, nearest of the lot is punggol.....

the rest of them are further away in cck, woodlands, sembawang, jurong west etc

 

my instincts telling me different things....

that i will be able to do my own stuff without worrying about mortgages, and even show middle finger to the boss if i want to....

and that i might also regret this much later.... LOL!

Edited November 17, 2013 by Karoon

[Lala81]

thats the pb with ECs, and reselling....

location, location, location.....

 

if you work in town, nearest of the lot is punggol.....

the rest of them are further away in cck, woodlands, sembawang, jurong west etc

 

my instincts telling me different things....

that i will be able to do my own stuff without worrying about mortgages, and even show middle finger to the boss if i want to....

and that i might also regret this much later.... LOL!

 

lol my BIL just bought a EC in the north region. But it's close to his workplace, so still ok.

 

The only ECs i ever thought of buying was Esparina at Buangkok (excellent location for an EC) and the tampines ones which i would consider if i was an easterner.

[Mustank]

 

hey guys i'm jumping into this thread to get your views on property....

 

I'm happily married, stay in 5 room, spacious old hdb.

The best things I like are the unobstructed view, as we face a lake, and the loan is fully repaid

Wife not working and looking after our kids.

 

Recently I got itchy backside, and realising I could still qualify for EC (barely), I went to look at the new EC launches.

 

I was surprised at a few things....

 

1) The crowd flocking there like its something given out FOC

2) The price .... $750/psf and above, meaning $1m and above for 4 bedrooms...

3) The proximity of the apartments, mostly facing inwards towards the pool, and each other, with full floor to ceiling glass walls (no more looking out to the horizon, just your neighbours' hall and bedroom). Even the ones facing exterior are facing future developments, and no guarantee of open views.

 

I almost, almost bought one unit on impulse, ready to give my cheque, but excused myself for a breather..... and drove straight home... *phew*

 

If you have a good, rare though old hdb unit, would you sell it and upgrade to EC with no view, stuck in it for at least 8 years (3 years to TOP + 5 years minimum occupation period before you can sell) and get into debt again (probably for half a mil after selling off HDB)

 

Or would you hold on to your hdb, buy a pte condo when the market dips (with additional 7% Additional Buyer Stamp Duty for 2nd property, retain half of cpf minimum sum in OA etc etc) and rent out your hdb. As its pte condo, easier to sell off, and move back to my hdb should I wish.

 

I'm worried about debt as for sure interest rates will be back at a high by 2016 (i'm in finance related job)...... think lots of people will be in trouble at this point, especially EC dwellers.... imagine buying a $1m property when your combined income is below $12k. I strongly believe property price correction is due then...

 

Also, people keep saying buying an EC is an investment, but is that so?

It depends on which cycle you're at, and this is one helluva peak.

 

And I will miss the heavenly feeling of being debt free :(

 

 

too late to buy now because hdb resale price so not doing so well now

 

last time mbt dont want to build so many hdb, so hdb resale price very strong. now kbw build many hdb and release many ec land. one ec, i estimate got 50% upgrader. one ec, i estimate, got 400 units. so when an ec top, 200 resale hdb will be released into the market. this is on top of the brand new hdb released by Govt. so your resale price wont be solid

 

if want to buy ec, should have hoot 3 years ago when they just restarted the ec thing. not now. 3 yeara ago, the price got 500+, 600+. now the price 700+, 800+

 

my friend told me the sebawang ec, i think call sky garden or something like that, is the last ec liao. Govt gonna review ec. i dont know how he know one. i think he is tia gong one. doono zhun or not

 

somemore now the ec are subjected to new rulings:

1) cannot be bigger than 1600sqf

2) if open areas which cannot be covered up one (such as balcony or patio or roff terrace) are sold to each owner, then Govt will charge develeper marnie for these open areas. if these open areas are used as commnual areas then it is free for developer. this is why it makes a lot of sense to build a communual giant sky garden (in the case of the sembawang ec)

[Karoon]

 

 

too late to buy now because hdb resale price so not doing so well now

 

last time mbt dont want to build so many hdb, so hdb resale price very strong. now kbw build many hdb and release many ec land. one ec, i estimate got 50% upgrader. one ec, i estimate, got 400 units. so when an ec top, 200 resale hdb will be released into the market. this is on top of the brand new hdb released by Govt. so your resale price wont be solid

 

if want to buy ec, should have hoot 3 years ago when they just restarted the ec thing. not now. 3 yeara ago, the price got 500+, 600+. now the price 700+, 800+

 

my friend told me the sebawang ec, i think call sky garden or something like that, is the last ec liao. Govt gonna review ec. i dont know how he know one. i think he is tia gong one. doono zhun or not

 

somemore now the ec are subjected to new rulings:

1) cannot be bigger than 1600sqf

2) if open areas which cannot be covered up one (such as balcony or patio or roff terrace) are sold to each owner, then Govt will charge develeper marnie for these open areas. if these open areas are used as commnual areas then it is free for developer. this is why it makes a lot of sense to build a communual giant sky garden (in the case of the sembawang ec)

 

yup... agree on the hdb pricing going south.

It also appears the ECs are just so that the upgraders will have more options of an 'atas' place, and they buy EC and release their hdbs so there'll be more places + new flats for first time hdb buyers

 

how these upgraders will pay for their million dollar new flats is not really hdb's problem... its no more kiddy glove hdb loan, its the proper banks...

 

your friend is not really right on the EC info. The last 2 ECs will be launched in jurong west next year. This info is available on ura website.

but seems govt policy is reversible, like when they decided to stop EC scheme years back, and making a comeback now...

 

i did view the sembawang ec.... the pricing seems out of whack at 780/psf

coincidentally there is a pte condo across the road from this EC, top 2001.... and the latest transacted price there for 2013 (based on ura) : $660/psf

[Mustank]

 

yup... agree on the hdb pricing going south.

It also appears the ECs are just so that the upgraders will have more options of an 'atas' place, and they buy EC and release their hdbs so there'll be more places + new flats for first time hdb buyers

 

how these upgraders will pay for their million dollar new flats is not really hdb's problem... its no more kiddy glove hdb loan, its the proper banks...

 

your friend is not really right on the EC info. The last 2 ECs will be launched in jurong west next year. This info is available on ura website.

but seems govt policy is reversible, like when they decided to stop EC scheme years back, and making a comeback now...

 

i did view the sembawang ec.... the pricing seems out of whack at 780/psf

coincidentally there is a pte condo across the road from this EC, top 2001.... and the latest transacted price there for 2013 (based on ura) : $660/psf

 

actually the high price for ec now is a side effect of the "cannot sell open area to owner rule" (be careful what one wish for! )

 

old rule:

all along Govt give 20% bonus open space to developer. then deevelopers sell these open space as balcony, patio, roof terrace, bay window, to owner at a reduced price. that is why if a unit has massive amount of open space, then the psf is low. These open space helps to reduce psf per unit, while the developer still can earn.

 

new rule:

now Govt say that if developer sells these open space to owner, developper has to pay marnie to Govt. so developer lan lan, now use all these 20% bonus free open space as communual space, such as a giant roof garden. But developer got earn some marnie from selling open space in old rule. By building a giant roof garden in scenario 2, they dont get any any marnie. So how to maintain the profits as per old rule? raise the psf of new rule lor!

 

conclusion: this is why the condos are affected by the new rule has a higher psf

basically each unit's balcony/patio/roof terrace (in old rule) had just transformed and merge into the commnual giant roof terrace (as in new rule). somemore the psf add another 20%

Edited November 18, 2013 by Mustank