Private Property prices......still up or down? Part II

[therock]

https://www.theedgeproperty.com.sg/content/shot-arm-market-sentiment

A shot in the arm for market sentiment

March 17, 2017

 

 

 

 

On the flip side, with the expectation that more measures could be unwound, some buyers may adopt a wait-and-see attitude. 

However, Ong reckons buyers perceive that the market is bottoming and are hopeful of a price recovery. “Transaction volume, which has been increasing in the last two years, is likely to pick up further and some upside to prices can be expected.” 

 

Confidence has already returned

 

I have never seen any analyst say "wait"

Or complain that we should keep cooling measures.

Every one of them says don't wait, buy now or it will go up..

Funny how that work outs.. 

[Mercs]

Wonder if seasoned investors in mcf have started reentering the market too

ABSD still stiff. So it is still very much for the cash rich and first time buyers

 

Amber Skye in Katong is still very expensive. The studios and 2 roomers are all asking 2000-2300plus pfs

This is near orchard road pricing, it will be cheap if orchard starts at 3000pfs.

 

Haha, hidden dragons mah...quiet quiet...secret secret?

ABSD hurdle for locals, but not so much foreigners, not when property markets in other countries on the up, but SG is down. So when they come buy will shout ... CHEAP AH!

 

Yeah, Amber Skye at 2000-2300 psf very expensive! Like I mention before, new launches still selling high prices, play quantum game to make it seem affordable.

 

I also waitng for durian drop, 1000psf ... brand new FH ..... in Orchard! LOL

 

Hehe

[Mercs]

Lol this Teck Hui ah...

Relaxing of measures may entice more ppl to buy

And on the flip side more will wait at sidelines for measures to be lifted

Really cover rear gao gao

[Mercs]

I have never seen any analyst say "wait"

Or complain that we should keep cooling measures.

Every one of them says don't wait, buy now or it will go up..

Funny how that work outs..

Haha, maybe they all feel SG property is MSW, bao jiak one?

 

Actually, got some truth in it, can only lose money if bought wrong property, wrong prices, bought wrong timing, and most importantly ... sold wrong timing!

Buy low, sell high...best! Or just have to buy high...sell higher!

 

Huat ah!

[Mercs]

Just find it amusing that the discussion is always about buy, or not to buy. It's either up or no up.

 

If the discussion is always about buy or not to buy, the only thing we disagree on is timing of when to buy.

 

Nobody has been engaging to talk about whether it is the time to sell. If it is still going down, surely this is the time to sell?

ABSD. From 2013, soft landing with prices down around 11%? If sell and wanna buy again, need to pay 7% or 10%, LPPL?

 

I'm sure you've heard/seen many cases, some think they are smart and sold at peak, or others who sold and go rental.

Sell already, wanna buy back, but find prices didn't really drop by much, and still have to factor in paying ABSD. LPPL x 2?

 

No more enjoy low interest rates, rental yield for the few years, do the numbers, will realise losing out even more.

Only and only, if prices do crash, only then would make it worthwhile to have sold.

 

CMs are just putting a lid on prices to go up. If remove, what will happen?

Just ask anyone, do they think SG property will be an appreciating asset in the long run? You'll have the answer.

 

To add on, as my above reply to bro therock. "Buy low, sell high...best! Or just have to buy high...sell higher!" lor

[Wyfitms]

aiyoh.. buy condo never study the floor plan one? Air con ledge measuring at 7% of floor area? sounds like a nice con job to me 

 

effective psf price is actually higher! yet another innovative way to increase property price without buyers feeling it 

 

 

 

Condo buyers lose cool over 'massive' air-con ledges

 

Oversized air-con ledges - some almost the length of a bus - in a newly built condominium in Sengkang have cast the spotlight on a loophole that allows developers to build them without having them counted as part of the gross floor area (GFA). Yet, they are allowed to charge home buyers for that same space.

 

It is time that the authorities take away the GFA exemption for these ledges - just as they did for planter boxes and bay windows nine years ago, said industry experts and home buyers. The Urban Redevelopment Authority (URA) made the move in 2008 after noticing that some developers had been exploiting the loophole for profit. The GFA refers to the maximum amount of liveable space that a developer can build on a plot of land.

 

Currently, air-con ledges up to 1m in width do not count towards the GFA of a condominium development. Yet, they are considered strata area that developers can charge buyers for as part of their units. This has led to abuse, charge some.

 

In particular, a band of some 200 home owners in La Fiesta in Sengkang are now irate over "massive" air-con ledges in their homes. They calculate that 645 of the 810 units - about 80% - have ledges that are 4m or longer. This exceeds 5% of their floor area, which experts say is an acceptable upper limit. Some ledges even measure 9 sq m - over 7% of the 127 sq m four-bedroom units. Most house two compressor units. In contrast, four- and five-room HDB flats have ledges of about 3 sq m, which can fit two compressor units. This works out to about 2.7% to 3% of the floor space.

 

Having paid, on average, SGD1,174 per sq ft of space, the La Fiesta residents estimate they have paid about SGD18 million in unused space for their air-con ledges.

 

A meeting with local developer EL Development last September ended with it saying it was not obliged to make any changes. "The size and extent of the air-con ledge were given and acknowledged by purchasers before the option to purchase was issued," a spokesman commented, adding that the ledges were designed to be big enough to fit all compressor units and to give electricians enough space to work on.

 

The URA told The Straits Times it does not have a guideline for ledges as it already considers "a myriad of factors in assessing whether air-con ledges are reasonably sized". Since May 2012, developers have also been required to provide a drawn-to-scale floor plan of the unit and a detailed breakdown of the unit's various spaces.

 

Both the Real Estate Developers' Association of Singapore and the Singapore Institute of Architects said they do not set guidelines on air-con ledge designs.

[Krieger]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

 

 

 

aiyoh.. buy condo never study the floor plan one? Air con ledge measuring at 7% of floor area? sounds like a nice con job to me 

 

effective psf price is actually higher! yet another innovative way to increase property price without buyers feeling it 

 

 

 

Condo buyers lose cool over 'massive' air-con ledges

 

Oversized air-con ledges - some almost the length of a bus - in a newly built condominium in Sengkang have cast the spotlight on a loophole that allows developers to build them without having them counted as part of the gross floor area (GFA). Yet, they are allowed to charge home buyers for that same space.

 

It is time that the authorities take away the GFA exemption for these ledges - just as they did for planter boxes and bay windows nine years ago, said industry experts and home buyers. The Urban Redevelopment Authority (URA) made the move in 2008 after noticing that some developers had been exploiting the loophole for profit. The GFA refers to the maximum amount of liveable space that a developer can build on a plot of land.

 

Currently, air-con ledges up to 1m in width do not count towards the GFA of a condominium development. Yet, they are considered strata area that developers can charge buyers for as part of their units. This has led to abuse, charge some.

 

In particular, a band of some 200 home owners in La Fiesta in Sengkang are now irate over "massive" air-con ledges in their homes. They calculate that 645 of the 810 units - about 80% - have ledges that are 4m or longer. This exceeds 5% of their floor area, which experts say is an acceptable upper limit. Some ledges even measure 9 sq m - over 7% of the 127 sq m four-bedroom units. Most house two compressor units. In contrast, four- and five-room HDB flats have ledges of about 3 sq m, which can fit two compressor units. This works out to about 2.7% to 3% of the floor space.

 

Having paid, on average, SGD1,174 per sq ft of space, the La Fiesta residents estimate they have paid about SGD18 million in unused space for their air-con ledges.

 

A meeting with local developer EL Development last September ended with it saying it was not obliged to make any changes. "The size and extent of the air-con ledge were given and acknowledged by purchasers before the option to purchase was issued," a spokesman commented, adding that the ledges were designed to be big enough to fit all compressor units and to give electricians enough space to work on.

 

The URA told The Straits Times it does not have a guideline for ledges as it already considers "a myriad of factors in assessing whether air-con ledges are reasonably sized". Since May 2012, developers have also been required to provide a drawn-to-scale floor plan of the unit and a detailed breakdown of the unit's various spaces.

 

Both the Real Estate Developers' Association of Singapore and the Singapore Institute of Architects said they do not set guidelines on air-con ledge designs.

 

[Mason016]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very Tao Nan famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

 

Don't shy la.  A lot of mcfers here stay near to atas primary schools and/or are graduates of atas schools themselves, or have children in atas schools.   

[Spring]

aiyoh.. buy condo never study the floor plan one? Air con ledge measuring at 7% of floor area? sounds like a nice con job to me 

 

effective psf price is actually higher! yet another innovative way to increase property price without buyers feeling it 

 

 

 

Condo buyers lose cool over 'massive' air-con ledges

 

Oversized air-con ledges - some almost the length of a bus - in a newly built condominium in Sengkang have cast the spotlight on a loophole that allows developers to build them without having them counted as part of the gross floor area (GFA). Yet, they are allowed to charge home buyers for that same space.

 

It is time that the authorities take away the GFA exemption for these ledges - just as they did for planter boxes and bay windows nine years ago, said industry experts and home buyers. The Urban Redevelopment Authority (URA) made the move in 2008 after noticing that some developers had been exploiting the loophole for profit. The GFA refers to the maximum amount of liveable space that a developer can build on a plot of land.

 

Currently, air-con ledges up to 1m in width do not count towards the GFA of a condominium development. Yet, they are considered strata area that developers can charge buyers for as part of their units. This has led to abuse, charge some.

 

In particular, a band of some 200 home owners in La Fiesta in Sengkang are now irate over "massive" air-con ledges in their homes. They calculate that 645 of the 810 units - about 80% - have ledges that are 4m or longer. This exceeds 5% of their floor area, which experts say is an acceptable upper limit. Some ledges even measure 9 sq m - over 7% of the 127 sq m four-bedroom units. Most house two compressor units. In contrast, four- and five-room HDB flats have ledges of about 3 sq m, which can fit two compressor units. This works out to about 2.7% to 3% of the floor space.

 

Having paid, on average, SGD1,174 per sq ft of space, the La Fiesta residents estimate they have paid about SGD18 million in unused space for their air-con ledges.

 

A meeting with local developer EL Development last September ended with it saying it was not obliged to make any changes. "The size and extent of the air-con ledge were given and acknowledged by purchasers before the option to purchase was issued," a spokesman commented, adding that the ledges were designed to be big enough to fit all compressor units and to give electricians enough space to work on.

 

The URA told The Straits Times it does not have a guideline for ledges as it already considers "a myriad of factors in assessing whether air-con ledges are reasonably sized". Since May 2012, developers have also been required to provide a drawn-to-scale floor plan of the unit and a detailed breakdown of the unit's various spaces.

 

Both the Real Estate Developers' Association of Singapore and the Singapore Institute of Architects said they do not set guidelines on air-con ledge designs.

This particular project, La Fiesta seem to have quite a few complaints against them ranging from defects which included water seepage, cracked tiles etc and now this super sized air con ledge.

 

I remember that this project was suppose to launch at a weekend but few days before, a strew of cooling measures were introduced and developer brought forward the launch and it went through the night and was well received and think they sold quite a lot of units and the buyers were patting themselves on the back for avoiding those cooling measures but fast forward now project is TOP and I'm not sure if the buyers feel this way anymore.

 

You should see their tennis court, the lights lamp post is practically next to tennis net pole thus making it difficult for a player to cross over the other side of the court unless he is slim. That said, at least they have a court unlike many other new condos!!   

[Throttle2]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

Well, at least you are near the school which was your main objective.

And since its sign sealed delivered, cant look back.

Good of you to highlight.

Many buyers still get snooked.

 

You should have PMed me.

Edited March 20, 2017 by Throttle2

[Scholesy]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

actually u see 1200sqf PH u should know la.....divide by 2, only 600ish sqf per level. and usu top floor a tiny master room with oversized roof terrace. consider having ur dinner table and storeroom barang upstairs... 

[SuPerBoRed]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

 

Buy already.. dont regret la.. there will be many things near that ATAS school that would piss you off more! 

 

just ask bro @atrecord 

 

pst.. food is really good in the area... but that swimmer carrot cake is over rated.. lol

[Enye]

wah people can afford to buy >$2m home still kena suan

 

 

[Angcheek]

aiyoh.. buy condo never study the floor plan one? Air con ledge measuring at 7% of floor area? sounds like a nice con job to me 

 

effective psf price is actually higher! yet another innovative way to increase property price without buyers feeling it 

 

 

 

7% enough area for me to sleep 

[Kusje]

actually u see 1200sqf PH u should know la.....divide by 2, only 600ish sqf per level. and usu top floor a tiny master room with oversized roof terrace. consider having ur dinner table and storeroom barang upstairs... 

 

Suggest to do an awning on the roof. Can reclaim some open space 

[Icedbs]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

 

For PH, if it has a high ceiling compare to the typical units, be very careful that the extra square area listed could be the airspace.

[Atrecord]

Buy already.. dont regret la.. there will be many things near that ATAS school that would piss you off more! 

 

just ask bro @atrecord 

 

pst.. food is really good in the area... but that swimmer carrot cake is over rated.. lol

 

Oh yes, that place. Need to avoid driving or taking any form of transport from 6.45 till 7.30 am, and likely during school dismissal hours too.

 

I don't know a place where there's such a big congregation of schools in the close vicinity, and given Singaporeans now so rich, everyday parents bring kids to schools all jammed lor...

 

But if staying there, can walk kids to schools is quite convenient All the way from primary to JC some more   

 

Not bad lah... 

[Atrecord]

Allow me to share, I bought 1 unit a pent house in East coast area... near to a very famous primary school. Just got my keys 1 month back. Really regret big time.

 

A large amount of space of the so called 1200 plus sq feet unit was taken up by the stair case(its a 2 level pent house. It is soo small.... I do not know how to sell next time......I missed out the stair case space it is taking up.

 

So MCF friends, when you buy a property try not to buy a 2 storey penthouse type....... In short I thought it was a good buy given the sq feet and location. 1500 per sq feet.... but if you calculate the amount of living space.. it cost me 1900...

 

It's a lifestyle choice mah. Sure got people like the same lifestyle one.

 

But if whole unit is 1200+ sq ft, then you might have to make do with limited useable space? Do you also have a nice big balcony or open terrace upstairs, but cannot put a bed or dining table/TV there? Some people love the big balcony, but some will want to have more useable space...