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Wt_know

Wt_know

Hypersonic
(edited)

fully agreed.

look at land sales news headlines ... again and again hitting smelly smelly >$500 psft

land nia already cost $500psft .... + landscape (wasted area to build more units) + building cost + profit margin = no $1000psf no talk = 1001psf = $1,000,000-ish ... double confirmed

a 750sqft PC (a downgrade from 4-room hdb) already closing $900k-$1M

 

u look at the way the developer bid the price ...u think can drop meh [laugh]

Edited by Wt_know
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Wt_know

Wt_know

Hypersonic
(edited)

yes, that's what i heard too.

geylang property = lower sustainability = higher volatility = less loan

 

I heard only 60%

Edited by Wt_know
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Wt_know

Wt_know

Hypersonic

save another $180k-$200k can buy cash ... screw max loan and interest rate !!!

 

someone here got 300K spare ca$h and if mickey mouse unit, should be sup sup water.

 

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Remierwan

Remierwan

1st Gear

Bro,

 

I just sold off my property in Jan and bought an EC 2 months later.

Just sharing my experience.

 

Went to look at easy condo and EC.

 

Ripplebay - I had the intention to purchase Ripplebay overlooking the sea. Workmanship and material used is really good. Wife like the tiles and woods that they used.

The unit was selling at 1.4m. Find that the space is really small. PSF at $1500 and above.

 

Watercolour EC - right beside it. Space is bigger, PSF at $750 to 1k. A Dual key, 2+1 selling at 750k. You can rent 1 room out since its dual key. But I needed 3 room and all the 3+1 (which is a 4 room) all snapped up.

The thing with the last year released EC, 1 name and own dual key. All the new EC with dual key features, you need to have 2 names, meaning, yourself and wive + accompanying parents.

Interior is bad. The material they used is poor and the room layout is bad. A 3 room in order to look bigger, the merge the master bedroom and 1 small room. Hated it!

 

Seastrand - Didnt visit this. By the time we want to look at this, we weight it out that Pasir Ris is kind of dead. No major developments in the near future, and you cant really grow that much. Whitesands shopping is old. Downtown east got cinema/bowling/ gaming but no good apparels or brand outlets. After a while it gets old. Also due to the number of people staying in Tampines and Pasir Ris (future condo development) will make it harder to enter the highway. Now we are staying tampines and it is getting overcrowded.

 

So in the end, we went up to Ponggol. We felt that future developments there are safer to invest. New shopping centre in the works. Ponggol park to run and cycle. The residents there are just about to mature and enjoy more facilities.

Anyway, that is our preference. It all depends on what you prefer. All the best in your search.

 

If you have an agent, make sure you bring your agent to view the EC/ Condo. They will get a reference $$$ if you buy. Then you can split the cash.

If you go direct, they will assign you to their guys and you wont see the $$$. It is a least 2-3k.

 

On the cost, basically, you will need to prepare:

 

(20% downpayment)

- 5% cash

- 15% (can from CPF)

 

If you still in the midst of selling you house, you can do a bridging loan. Once your house sell, the CPF will flow into your EC.

 

(80% balance)

- Take full 80% loan from bank.

- Or flush all your CPF into the EC and take less loan from bank.

- Or flush partial CPF into EC and take less loan from back.

 

Take note:

Bank will die die advice you to take full 80% loan. CPF interest is 2.5%. So any thing you use, you will need to pay back into CPF when you sell your house. Its called the accrued interest.

Bank interest is about 0.5 to 1.3% depending of type. SIBOR/ floating etc. You need to check with your agent and make sure you do your research and compare.

They will say its cheaper but if you think about it, bank charge you 1.3%, they deduct from CPF (which charge you 2.5%).

May as well pay directly to CPF the 2.5% accrued interest. It is still in your CPF account.

 

My recommendation is to use partial CPF to take less loan.

Aside from paying 20% for downpayment, let say you put another 10% CPF and take 70% loan, leave some monthly deduction and emergencies. (In case out of job, etc)

 

Good luck!

 

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Animian

Animian

Clutched

fully agreed.

look at land sales news headlines ... again and again hitting smelly smelly >$500 psft

land nia already cost $500psft .... + landscape (wasted area to build more units) + building cost + profit margin = no $1000psf no talk = 1001psf = $1,000,000-ish ... double confirmed

a 750sqft PC (a downgrade from 4-room hdb) already closing $900k-$1M

 

yah only a matter of time this Glass ceiling for EC will break ... go for PC still better no restriction as in selling ... there are still PC with less than $1K psf in the market

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Deckbuild

Deckbuild

6th Gear

yah only a matter of time this Glass ceiling for EC will break ... go for PC still better no restriction as in selling ... there are still PC with less than $1K psf in the market

 

PC are subjected to SSD, which starts from 16% till 0% on the fifth year. If the restriction here refers to flipping for profit, it's not any better as well.

 

And I doubt the SSD will be removed any time soon as Sgrean are still very cash rich.

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Deckbuild

Deckbuild

6th Gear
If you have an agent, make sure you bring your agent to view the EC/ Condo. They will get a reference $$$ if you buy. Then you can split the cash.

If you go direct, they will assign you to their guys and you wont see the $$$. It is a least 2-3k.

 

Your this sentence will get agent into trouble...

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Lalapunch

Lalapunch

Neutral Newbie

makes sense ...plus half price petrol!

 

iskandar got seaview too!

 

 

yalar, I heard that project at Iskandar Medini can sell their condo unit less then RM$500k or what. Might as well move to there

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Remierwan

Remierwan

1st Gear

Well, unfortunately, its happening everywhere. But I didnt manage to get a cut because I went direct, sign and then call my agent/friend. Then he highlight to me about this.

Its up to your agent if he/she wants to share with you this. I am just a consumer trying to save $ on the already bloated market which they claim will burst since 2 years ago.

And the guy responsible for this is hiding in my Tampines GRC.

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Ronleo

Ronleo

6th Gear

Thats pretty sad for a top notch.....sigh.... I think i better be rubbish cleaner.

 

I think got more potential.

 

Sad??? Let me know if there is such vacancy available.

 

I would love to live a SAD life! [wave]

 

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Hosaybo

Hosaybo

6th Gear

These does not seems to be the usual players. Seems like more and more jumping into this ec pie. Demand is hot and base cost price is likely to be very high. Unlikely to be sold cheap when lunched.

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Animian

Animian

Clutched

at the rate the land are released for developers to bid and at the price they bid .. how to bring the price down ...

on hand add cooling measure ...the other hand kept selling land ...so contradict

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Hosaybo

Hosaybo

6th Gear

Biggest winner is gov..... Sell land at higher price than hdb, lots of stamp duties, and at the same time, when people take over the ec, release supply of resale hdb back into the market.

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