Rivercove Residences

librarian777

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Rivercove Residences @ Anchorvale Lane

Following the successful launch of Hundred Palms Residences and sell out in 7 hours. Hoi Hup will be launching Rivercove Residences at Anchorvale Lane soon. Another signature development by Hoi Hup Realty and Sunway Development in Anchorvale Lane.

Rivercove Residencesis an upcoming new launch executive condominium in Sengkang, Anchorvale Lane. In fact, this will be the one and only ec launch in 2018. Till now there is no more land release from government for executive condominium.

Rivercove ec consists of 10 blocks of 16th storey height approximately 635 residential units.

Rivercove condo is approximately 400 m away from Tongkang LRT Station which operates the Sengkang LRT Line West Loop. This will connect to Sengkang MRT Station in Sengkang Town Centre which operates the North East Line.

It iseasily commute to downtown by using the North East Line. It is also easily connected to the main arterial road, Sengkang East Road which will connect them to the Tampines Expressway (TPE).

Anchorvale Lane can access to the Kallang Paya Lebar Expressway (KPE) via the TPE. For future residents of new EC who drive, it will just take them approximately 20 minutes to the Central Business District (CBD).
 

Pokémon

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So many grammatical mistakes... :s22:

I do not even understand what some of the sentences are driving at either.
 

dleodleo

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Rivercove Residences @ Anchorvale Lane

Following the successful launch of Hundred Palms Residences and sell out in 7 hours. Hoi Hup will be launching Rivercove Residences at Anchorvale Lane soon. Another signature development by Hoi Hup Realty and Sunway Development in Anchorvale Lane.

Rivercove Residencesis an upcoming new launch executive condominium in Sengkang, Anchorvale Lane. In fact, this will be the one and only ec launch in 2018. Till now there is no more land release from government for executive condominium.

Rivercove ec consists of 10 blocks of 16th storey height approximately 635 residential units.

Rivercove condo is approximately 400 m away from Tongkang LRT Station which operates the Sengkang LRT Line West Loop. This will connect to Sengkang MRT Station in Sengkang Town Centre which operates the North East Line.

It iseasily commute to downtown by using the North East Line. It is also easily connected to the main arterial road, Sengkang East Road which will connect them to the Tampines Expressway (TPE).

Anchorvale Lane can access to the Kallang Paya Lebar Expressway (KPE) via the TPE. For future residents of new EC who drive, it will just take them approximately 20 minutes to the Central Business District (CBD).

When will it launch and what is the estimated psf?
 

fotoudavid

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Interesting EC, the launch should be first quarter of 2018. Base on EC price on the west, i guess this PSF should be around $750 plus minus. Got agent told me sure hit $800... i was like:eek:

If $800 PSF, i was think how to afford for income ceiling $14000.... :s11:
 

Pokémon

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Interesting EC, the launch should be first quarter of 2018. Base on EC price on the west, i guess this PSF should be around $750 plus minus. Got agent told me sure hit $800... i was like:eek:

If $800 PSF, i was think how to afford for income ceiling $14000.... :s11:

Can lah, even 1,400 sq ft also no problem.
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Clazav

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Interesting EC, the launch should be first quarter of 2018. Base on EC price on the west, i guess this PSF should be around $750 plus minus. Got agent told me sure hit $800... i was like:eek:

If $800 PSF, i was think how to afford for income ceiling $14000.... :s11:

Sure above $800psf. If it is launched together with Parc botannia, it can consider raising the psf a little more. The ceiling is not an issue, just make a smaller house will do.
 

Pokémon

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Quite impossible to loan such high amount given the cap by Government.

This is based on the income ceiling of $14K... Well, you know there are also others who exceeded the ceiling and still get through after appealing, so lets not drag those into this picture.

FYI, if you know how to read from the calculations, you would know that the Actual Loan Amount from the Bank would be the Maximum Purchase Price - 20% Downpayment = $935,318.40

Anyway, the maximum home loan amount is determined by TDSR, MSR (for HDB only), loan tenure and a medium-term 3.5% interest rate. If you take note, $4.2K at 3.5%p.a. is the 30% MSR cap (of the $14K). Of course, this is based on assumption that the borrowers have no other debt.
 

fotoudavid

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This is based on the income ceiling of $14K... Well, you know there are also others who exceeded the ceiling and still get through after appealing, so lets not drag those into this picture.

FYI, if you know how to read from the calculations, you would know that the Actual Loan Amount from the Bank would be the Maximum Purchase Price - 20% Downpayment = $935,318.40

Anyway, the maximum home loan amount is determined by TDSR, MSR (for HDB only), loan tenure and a medium-term 3.5% interest rate. If you take note, $4.2K at 3.5%p.a. is the 30% MSR cap (of the $14K). Of course, this is based on assumption that the borrowers have no other debt.

If like that quite dangerous as the monthly payments very high. I use the dbs calculator both 21 years old, maximum income 7k each, no car loan etc can loan $840000 about. I don't know how calculate liao but loan so high very stress for me at least. Cannot accept high stress level lol... Cannot sleep well :s13:
 

Pokémon

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I don't know how calculate liao but loan so high very stress for me at least. Cannot accept high stress level lol... Cannot sleep well :s13:

When the combined income is $14K, you do not just look at the amount you are paying anymore. After CPF deductions left with $11.6K of net income, $3.4K (estimated based on current interest rate) for the loan repayment is nothing... You will still have $8.2K to spend.
 

windwaver

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Interesting EC, the launch should be first quarter of 2018. Base on EC price on the west, i guess this PSF should be around $750 plus minus. Got agent told me sure hit $800... i was like:eek:

If $800 PSF, i was think how to afford for income ceiling $14000.... :s11:

Can, cash is king :s13:
 

kiatme

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I'm guessing minimally 850 PSF
Reason?
1: in 2018 there will only be 1 EC launched (sumang walk after rivercove)
2: most of the left over ECs will be sold out by then
3: looking at new launches around sk/punggol, parc botannia is like 1150psf ++ onwards!?! They'll drive the price up
4: from 2018 onwards, the 'more affordable' new launches will be in yishun and tamp ave10 which will cost $1250 psf onwards
5: hoi hup bought HPR for 331psf, sold at median 850psf... rivercove is 355psf.. go figure
6: there aren't much condos around sk/punggol left upcoming within one-two years, have to wait for government land sales, the next GLS is buangkok land next month, which will cost a bomb(talking about NE region) (there are those serangoon north condos and enblocs which will start selling from 1500psf onwards)
7: they can afford to sell high and wait, there aren't any known government policies to control the price, even if they sell 900psf, who is there to stop them, eventually there will be suckers like us who want to buy because there aren't cheaper ones out there already, unless you take up resale

I myself am a sucker, i want to aim for rivercove but just imagining the ballot queue.. most likely it will be like HPR (prepare to bring a fan, in case air con breakdown again) but I'm already calculating my finanaces for parc botania

If there are any buyers who needs a home like me, can pm me and give me your thoughts ?? What willl you do haha
 

birmingham123

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Exactly, it's this ganjiong spirit will help boost the psf la! But I understand. Guessing you were unsuccessful with HPR? hope you get it this time! TBH I don't see much difference between RC and HDB since it's just next to the Sengkang HUGE swimming complex lol.

Actually fernavale has many bto launch right ? Nov should have 1, near to seletar mall and i think should be only 300k for 4room hdb only... if ec cost 3x the price, how will it be worth ???
 

Clazav

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I'm guessing minimally 850 PSF
Reason?
1: in 2018 there will only be 1 EC launched (sumang walk after rivercove)
2: most of the left over ECs will be sold out by then
3: looking at new launches around sk/punggol, parc botannia is like 1150psf ++ onwards!?! They'll drive the price up
4: from 2018 onwards, the 'more affordable' new launches will be in yishun and tamp ave10 which will cost $1250 psf onwards
5: hoi hup bought HPR for 331psf, sold at median 850psf... rivercove is 355psf.. go figure
6: there aren't much condos around sk/punggol left upcoming within one-two years, have to wait for government land sales, the next GLS is buangkok land next month, which will cost a bomb(talking about NE region) (there are those serangoon north condos and enblocs which will start selling from 1500psf onwards)
7: they can afford to sell high and wait, there aren't any known government policies to control the price, even if they sell 900psf, who is there to stop them, eventually there will be suckers like us who want to buy because there aren't cheaper ones out there already, unless you take up resale

I myself am a sucker, i want to aim for rivercove but just imagining the ballot queue.. most likely it will be like HPR (prepare to bring a fan, in case air con breakdown again) but I'm already calculating my finanaces for parc botania

If there are any buyers who needs a home like me, can pm me and give me your thoughts ?? What willl you do haha

Average psf for Parc botannia is 1250. Rc will price in such a manner that is 20% lower, perhaps 1000psf is also reasonable. But Rc developer needs to see the sale of Parc botannia first to see the popularity of this part of Sengkang. My guess for Rc is 900 psf.
 

bojangle

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u r spot on. i popped by the other day, lotsa new btos ard there, one building right next to the RC plot.. was so sure I wanted ec for the past 3 years, now I'm seeing the beauty of btos, esp if I don't drive. no point paying all that monthly fees when I can just walk over to the public sports complex with 2 clean, big pools and kids splash pools.i'll rather get a nice 5 rm and use all that leftover to renovate nicely, with all the ecs in the market it really seems unlikely to be commanding a full condo price in future so one less reason for me to bank on.

not only that, if for own stay is still ok. If those thinking to sell and gain in future, well there's too many competitions surrounding you from H2O to The Vales, easily 7 or 8 projects competing each other.
If I'm a buyer intend to stay there in future, I will be spoilt with choice with minimum 100 units for resale viewing and try my luck to low ball too. :s13:
 

Clazav

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My guess is between $820 to $850 psf.

Hundred palm priced at 850psf and sold within 7hr. The developer would probably regret pricing it so 'low'. If give the developer another chance, I think they will price 920psf or so. Since rivercove is poorer, 900psf seems ok. My opinion.
 

dleodleo

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Hundred palm priced at 850psf and sold within 7hr. The developer would probably regret pricing it so 'low'. If give the developer another chance, I think they will price 920psf or so. Since rivercove is poorer, 900psf seems ok. My opinion.

I also think so.

Moreover RC bidding price is higher than HP. I am considering RC project.

Being a 2nd timer, I need to pay S$45,000 resale levy. If the price is high, I'll drop the idea and look for resale condo instead. Esparina & Prive are 5 years old next year.
 
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