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therock

Singapore Property Scene Discussion

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Twincharged
2 hours ago, Wt_know said:

must hold 10 years? i don't mind ...

agent said ... live happily 10 years sibei shiok ... like Pinnacle buyer ... it's called MILLION DOLLAR VIEW

and then still can sell no $2M no talk? huat ah!

2020-11-30_144149.jpg

Yep, holding ten years for a solid profit is nothing.. it won't prevent the lottery effect at all. It just pushes it down the line...

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Turbocharged
Just now, therock said:

Yep, holding ten years for a solid profit is nothing.. it won't prevent the lottery effect at all. It just pushes it down the line...

hold 20years better. if need to sell earlier then sell back to HDB.

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Supersonic

as long as HDB = asset enhancement for flipping there is no end

how to define “prime location” that demand holding 10-20 years?

now punggol resale already reaching $800k

so all cheong punggol because can flip within 5 years

then also declare punggol as prime location

prime location in CCR can be separated by 1 road and 1 side hold 5 years another side hold 20 years? 

another type of problem created for people to exploit

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The genie is out of the bottle and how to put it back?

that’s the multi-million or billion dollar question.

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Twincharged

50 year lease

Resale limited to HDB only

rental homes only

or simply use it for condos and avoid this equality issue and make some money which can be used to reduce the deficit and help poor people instead 

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Twincharged

Just drove past the Noma site recently and I have mixed feelings about it..

i think the condo has a decent price but the odd shape isn’t good. 

And the value of that terrace home will now plummet...

it will be really dark claustrophobic and may even experience more litter... no one will want to buy it unless the price is really low..

lose lose situation 

https://www.99.co/blog/singapore/owners-of-geylang-terraces-refuse-to-sell-to-condo-developer-becomes-up-in-real-life/

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4th Gear (edited)
1 hour ago, therock said:

Just drove past the Noma site recently and I have mixed feelings about it..

i think the condo has a decent price but the odd shape isn’t good. 

And the value of that terrace home will now plummet...

it will be really dark claustrophobic and may even experience more litter... no one will want to buy it unless the price is really low..

lose lose situation 

https://www.99.co/blog/singapore/owners-of-geylang-terraces-refuse-to-sell-to-condo-developer-becomes-up-in-real-life/

Cheapo dev tried to lowball him. What for sell to them?

I wouldn't cry for him yet as his house can build up to 8 stories. Worse comes to worse, sell to another developer let him them build up to 8 stories side by side with the other condo lol. Cons will be wasted space for lift/staircase and no facilities/carpark. It's within walking distance to datoka mrt so think can survive w/o carpark.

Speaking of carparks, I went to noma condo website and it says TBA for the number of carpark lots. I doubt each owner will get 1 carpark lot so not much difference there.

Edited by ToyotaShuttle
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Supersonic

Each terrace can rebuild to 5/8 storey with roof top garden and pool. Huat ah! 

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Twincharged

I wonder if the developer had to pay extra to allow eight floors?

if so the cost of buying this tiny plot plus the additional charges will make it hard to redevelop 

i suppose Noma could buy it later and add something there.. maybe a restaurant called Noma 🙂

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5th Gear

Watch out for vacancy rate above 7%. I think it is coming in Q3 2020.

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Supersonic
26 minutes ago, awhtc said:

Households urged by MAS to stay prudent when taking up debt or buying property

Vacancy rates for private residential properties rose from 5.4 per cent in the second quarter to 6.2 per cent in the third quarter.

https://www.channelnewsasia.com/news/singapore/households-mas-stay-prudent-debt-property-covid-19-13674476

 

kind of mixed messages ... here ...  

one group ... over-leveraged ... cannot pay mortgage ... cry papa cry mama for MAS help

one group ... "purposely" choose to defer payment to use the extra money to cheong stock or whatever .... MAS help is being exploited

MCF sure is cheong group la ... LOL

2020-12-01_164955.jpg

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Supersonic

 

29 minutes ago, awhtc said:

Watch out for vacancy rate above 7%. I think it is coming in Q3 2020.

No leh, the propertygurus here say rental up up up, more more more.  

Easy to cover mortgage, leh.....

😅

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Supersonic
9 hours ago, therock said:

Just drove past the Noma site recently and I have mixed feelings about it..

i think the condo has a decent price but the odd shape isn’t good. 

And the value of that terrace home will now plummet...

it will be really dark claustrophobic and may even experience more litter... no one will want to buy it unless the price is really low..

lose lose situation 

https://www.99.co/blog/singapore/owners-of-geylang-terraces-refuse-to-sell-to-condo-developer-becomes-up-in-real-life/

Feel sorry for the old man who owns the terrace house.  The govt shouldnt allow this.

oh well, the govt shouldnt allow many things.... 

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Supersonic (edited)
45 minutes ago, Throttle2 said:

Feel sorry for the old man who owns the terrace house.  The govt shouldnt allow this.

oh well, the govt shouldnt allow many things.... 

No need to feel sorry - he still can sell it for redevelopment for lots of profits.

The strange thing I find is, there is no setback requirements (e.g. 1.5m) for the new buildings from the common boundary! Just a 8 storey high solid wall right up to the boundary line.... 

Edited by Volvobrick

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Twincharged (edited)
2 hours ago, Throttle2 said:

 

No leh, the propertygurus here say rental up up up, more more more.  

Easy to cover mortgage, leh.....

😅

Yes fully covered with enquiries coming in way after rented out. The rest of the properties just renew and renew. Maybe next round renew then see how it goes. 

Possibly the non performing sectors and sections is not made up by my target area and tenants. 
 

If it turns that bad, I will notify you all to help me lament.

Edited by Showster
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Twincharged

https://www.edgeprop.sg/property-news/cw-brokers-93-million-collective-sale-15-terrace-houses

 

15 terraces for 93 million... each owner gets a pretty nice pile..

But the land isn't big, and is a bit of an "L" shape... boutique condo? 
At least there's no hold out by one seller... 

 

How often do you see such a en bloc of landed homes? 9999 years 😉 

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5th Gear
16 hours ago, Throttle2 said:

 

No leh, the propertygurus here say rental up up up, more more more.  

Easy to cover mortgage, leh.....

😅

The CCR and RCR are more severely affected.  OCR is only slightly so far...

Release of 3rd Quarter 2020 real estate statistics

"Vacancy rates of completed private residential properties as at the end of 3rd Quarter 2020 in CCR, RCR and OCR were 9.2%, 7.4% and 4.2% respectively, compared with the 7.5%, 6.1% and 4.0% in the previous quarter."

https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr20-29#:~:text=Stock and Vacancy&text=Vacancy rates of completed private,see Annex E-4).

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