Mercs: property news & updates

[Mercs]

12 minutes ago, Kopites said:

Seem like many under ang mo kio not happy with the sers replacement scheme. I don't understand. Should it not be one for one replacement?

Not one for one replace, from old to new so need top up some $. AMK SERs ahgong only value 450K owners say money no enough, so now try sell open market 800K ... any takers?

 

[Mercs]

 

[Kopites]

17 minutes ago, Mercs said:

Not one for one replace, from old to new so need top up some $. AMK SERs ahgong only value 450K owners say money no enough, so now try sell open market 800K ... any takers?

 

I don't get it. All along I thought it was example a 3 room for a new 3 room. Additional cash for given for relocation. Apparently don't work this way now?🤔

[Kopites]

27 minutes ago, Mercs said:

Not just price, under PLH got 6% clawback but most importantly, only after 15 years later then can flip 😛

 

 

The presenter is in tiong Bahru not at Bukit merah nor Redhill. 🤔

[Mercs]

9 minutes ago, Kopites said:

The presenter is in tiong Bahru not at Bukit merah nor Redhill. 🤔

 

https://www.99.co/singapore/insider/may-2022-hdb-bto-overview/

Bukit Merah May 2022 BTO (Bukit Merah Ridge)

Location: Along Henderson Road, Tiong Bahru Road and Lower Delta Road

(Another project in Bukit Merah, located next to Redhill MRT, was initially included in this May launch. However, it’s since been announced that it would be postponed to the August 2022 BTO launch.)

 

 

[Mercs]

19 minutes ago, Kopites said:

I don't get it. All along I thought it was example a 3 room for a new 3 room. Additional cash for given for relocation. Apparently don't work this way now?🤔

 

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/sers-and-upgrading-programmes/sers/sers-flat-owners/sers-compensation

Under the Selective En bloc Redevelopment Scheme (SERS), we will compensate you a sum based on the market value of your flat at the point of the SERS announcement, and reasonable expenses to help you move.

 

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/sers-and-upgrading-programmes/sers/sers-flat-owners/financing-a-new-flat

Outstanding amount for new flat

You will be able to use all the CPF money (refund and savings) in your CPF OA to pay for the new flat. In the event that you do not have sufficient CPF money, you can pay the outstanding amount with a combination of:

Balance compensation (not including retention sum*)

Personal savings

A housing loan

[Kopites]

6 hours ago, Mercs said:

 

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/sers-and-upgrading-programmes/sers/sers-flat-owners/sers-compensation

Under the Selective En bloc Redevelopment Scheme (SERS), we will compensate you a sum based on the market value of your flat at the point of the SERS announcement, and reasonable expenses to help you move.

 

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/sers-and-upgrading-programmes/sers/sers-flat-owners/financing-a-new-flat

Outstanding amount for new flat

You will be able to use all the CPF money (refund and savings) in your CPF OA to pay for the new flat. In the event that you do not have sufficient CPF money, you can pay the outstanding amount with a combination of:

Balance compensation (not including retention sum*)

Personal savings

A housing loan

So such sers might not be after all a good thing for those residents which predominantly consist our society elders. 

 

[Dp26]

Yah never as straight forward. 
 

no money/no income to loan might even cause headaches for some. 
 

 

[Kopites]

20 minutes ago, Dp26 said:

Yah never as straight forward. 
 

no money/no income to loan might even cause headaches for some. 
 

 

At their as age doubt there are many bank willing to undertake their mortgage. Smaller size unit and a need to service a new loan no wonder many have decided to sell uprooted to another non mature estate presumably cheaper residency.🤔

Edited June 4, 2022 by Kopites

[Dp26]

There might be a small group that cannot qualify for BTO but no willing to spend 1.5/2m on condo. 
 

buy these resale off the market and it’s as good as a BTO some years down the road. Likely to be cheaper than buying this same estate area after MOP. Why not? 
 

have a friend that did this for the Tanglin halt SERS 

[Alfc]

10 hours ago, Mercs said:

 

https://www.99.co/singapore/insider/may-2022-hdb-bto-overview/

Bukit Merah May 2022 BTO (Bukit Merah Ridge)

Location: Along Henderson Road, Tiong Bahru Road and Lower Delta Road

(Another project in Bukit Merah, located next to Redhill MRT, was initially included in this May launch. However, it’s since been announced that it would be postponed to the August 2022 BTO launch.)

 

 

Looking at the subscription rate for the BTO, what happen to all the BS coming from those who advocate giving all a chance to stay in near town location?

Really proven all are BS, it is about the price and opportunistic behavior isnt it. 

[Mercs]

On 6/4/2022 at 10:47 AM, Alfc said:

Looking at the subscription rate for the BTO, what happen to all the BS coming from those who advocate giving all a chance to stay in near town location?

Really proven all are BS, it is about the price and opportunistic behavior isnt it. 

Haha, thats why have this PLH model with price high- (4room highest 737K)... I wonder how hdb still gonna be affordable at this rate, not just now but also future just gonna get even more ex, eventually probably gonna see near 'no 1mil no talk' bto prices - (bto prices peg to market rate)

[Mercs]

On 6/4/2022 at 6:47 AM, Kopites said:

So such sers might not be after all a good thing for those residents which predominantly consist our society elders. 

 

Agree, older folks may be content to just live out the remaining years, not overly concern with lease decay or future value. A simple solution for such who can't afford or do not wish to top up - have an option to allow one to one replace with no top up :(eg 49yr old change to new but lease still at balance 50 instead of 99), like the lease buyback scheme.

That said, my take is SERs still more pro than con in value terms, old change new if resell future easily profit another few hundred K. The latest most expensive resale hdb at record price 1.4mil is also a SERs replacement flat. 😉

 

[Mercs]

https://www.straitstimes.com/business/property/more-short-term-lease-sites-to-be-released-as-govt-studies-impact-of-flexi-work-arrangements

More short-term lease sites to be released as Govt studies impact of flexi-work arrangements

https://www.straitstimes.com/singapore/housing/future-long-island-along-east-coast-could-have-reservoir-be-developed-for-housing

Future 'Long Island' along East Coast could have reservoir and housing

https://www.straitstimes.com/singapore/housing/fancy-a-jog-down-the-runway-paya-lebar-air-base-plans-may-see-runway-kept-as-part-of-new-town

Fancy a jog down the runway? Plans for Paya Lebar Air Base may see runway kept as part of new town

https://www.straitstimes.com/singapore/from-new-homes-to-a-new-island-7-things-about-singapores-long-term-plan-for-next-50-years

From new homes to a new 'island': 7 things about Singapore's long-term plan for next 50 years

https://www.straitstimes.com/singapore/bayshore-upper-changi-to-have-public-private-housing-uras-new-plan-unveils-future-housing-towns

Bayshore, Upper Changi to have public, private housing; URA's new plan unveils future housing towns

 

https://www.businesstimes.com.sg/real-estate/flexibility-underpins-singapores-long-term-urban-development-plans

Flexibility underpins Singapore’s long-term urban development plans

https://www.businesstimes.com.sg/real-estate/redevelopment-plans-for-paya-lebar-air-base-met-with-enthusiasm

Redevelopment plans for Paya Lebar Air Base met with enthusiasm

https://www.businesstimes.com.sg/real-estate/city-centre-to-be-refreshed-commercial-nodes-built-up-across-singapore-in-long-term-ura

City centre to be refreshed, commercial nodes built up across Singapore in long term: URA

 

https://www.channelnewsasia.com/singapore/paya-lebar-air-base-site-heritage-district-ura-long-term-plan-2729046

Heritage district among proposals studied by URA for future Paya Lebar Air Base site

 

https://www.99.co/singapore/insider/family-dispute-pacific-mansion-en-bloc-stamp-duty-beneficiary/

Pacific Mansion en bloc apartment sale excludes stamp duty from beneficiary’s share

 

https://www.asiaone.com/money/owning-second-property-singapore-worth-cost

Is owning a second property in Singapore worth the cost?

 

https://stackedhomes.com/editorial/tour-this-beautifully-chic-1500-sq-ft-duplex-home-designed-for-hosting-friday-night-dinners/

https://stackedhomes.com/editorial/analysing-unprofitable-condos-6-reasons-why-the-lanai-has-performed-poorly-district-23/

https://stackedhomes.com/editorial/we-are-a-family-of-3-looking-to-upgrade-which-of-these-5-condos-are-best-if-primary-school-is-priority/

[Mercs]

On 6/2/2022 at 10:22 PM, Mercs said:

Haha, now u know why i've said last Dec the latest CMs are conservative outcome underwhelming, dun say price drop some slight healthy price correction also no smell, just keep going up up and away, we are already at new benchmark price levels.

As mentioned - foreign demand returning, developer low unsold stock next wave enbloc fever, development plans around SG (eg: HDB now have PLH, all are future no 1mil up no talk resales, for PTE there is GSW etc) will further push up property prices.

Also mentioned long ago, current cycle uptrend prop prices diff from previous cycles - CM trump card. If prices do fall in future (eg : recession), all that needs done is reduce/remove some CMs eg: ABSD/ LTV to support maintain prices.

Whichever way u look at it, all signs indicate more upside, so how r prices gonna drop? 😉 ...in the land of Expensive SG, playground of the RICH

 

 

As per the earlier posts above - read : ahgong development plans all round SG/ even BTO prices future may hit near 'no1mil no talk'

How r property prices gonna drop or be cheaper future? Have this feeling just gonna continue rocket up to even higher price levels, like what we are already experiencing now- not just housing, with inflation everything becoming more expensive.

[Mercs]

 

 

 

[13177]

On 6/4/2022 at 6:47 AM, Kopites said:

So such sers might not be after all a good thing for those residents which predominantly consist our society elders. 

 

Like that how did those eldery folks in tanglin halt managed to buy those replacement flat in dawson area? As i believe there should be much more eldery in tanglin halt SERS than in amk SERS. And esp when their old flat in tanglin halt surely compensate lesser than the AMK SERS flat, since tanglin halt flats are smaller and much older?!

[13177]

On 6/4/2022 at 9:11 AM, Kopites said:

At their as age doubt there are many bank willing to undertake their mortgage. Smaller size unit and a need to service a new loan no wonder many have decided to sell uprooted to another non mature estate presumably cheaper residency.🤔

For those people who cannot afford to buy the same size of the replacement flat, then they have no choice but to buy a smaller size unit lo. The money they got compensated should be enough. If they still want to buy the same size or even bigger unit, then difficult liao.