Sengkang residences

[momoeagle]

http://www.ytreporp.com/rental_yield.php

The rental yield for that area no good lah.

Think they wait for capital appreciate before TOP and pass the ball to another person.

It's a musical chair whose music hasn't stopped

 

[NiShiZhu]

Well... I have an uncle who bought 3 condos back before the major boom in prices he paid on average about 600-700 psf and made a tidy profit. When I bought my first condo for 12xx he was saying wah siao so expensive, fast forward 5 years later, he bought a new one for 14xx. The market will take time to adjust to price, but whether it sustain at current level I feel is dependent on income growth. Although prices gone up quite a bit, you will probably see in the data that so did income level for top group, not necessarily at the same pace though.

I Guess I enter the market same era as your uncle. The only difference is I continue to stay vested till 2017. I have witnessed how my first property was bought at 500psf till my last property at near 2k psf. I am perfectly fine with price increasing over time and understand that there’s always a new price norm in every phase.
But if one wants to stay vested in every property cycle, you really need to compare all projects in relative, study surrounding rental and sales trend, and make informed decision based on upcoming growth through studying of masterplan.
Buying w/o doing due diligence, calculation and comparison with other projects is a dangerous thing and may end up setting the buyer to take at least 5-10 years to repent. Yes, market will eventually takes time to adjust itself but who wants to wait for 10 years or more to finally see meagre profit in their property? All that is lost is Not just the waiting time but also the opportunity cost to invest in other better projects that takes a Much shorter time to see capital appreciation.

 

[momoeagle]

I went to showflat on Thur evening
happened to encounter Propnex CEO talk
he said everything is in a chain
the quality of a flat leads to rental value leads to asset appreciation

I strongly doubt people buy such small units to live in unless for single or couple with 0/1 kid

Staying in a 5 rm flat, I really cannot imagine staying at a place 2x to 3x smaller, yet cost twice as much

 

[Clazav]

If just about size, it will never make sense. There are also people who buy hdb 3 room flat in bishan over hdb 5 room flat in yishun.

Staying in a 5 rm flat, I really cannot imagine staying at a place 2x to 3x smaller, yet cost twice as much

 

[Passerboy]

If just about size, it will never make sense. There are also people who buy hdb 3 room flat in bishan over hdb 5 room flat in yishun.

I for one speaking from personal experience, I would choose a 3 room flat Bishan over a 5 room Yishun. Convenience and time is what money cannot buy. 2 mrt lines are better than 1.

And bishan is uber central. If u say 3 room Bishan and 5 room AMK/Toapayoh then I might opt for 5 room AMK/Toapayoh.

 

[holasingapura]

I for one speaking from personal experience, I would choose a 3 room flat Bishan over a 5 room Yishun. Convenience and time is what money cannot buy. 2 mrt lines are better than 1.

And bishan is uber central. If u say 3 room Bishan and 5 room AMK/Toapayoh then I might opt for 5 room AMK/Toapayoh.

Then you would choose 5 room flat at serangoon over 2bedroom condo at sengkang!

or even 5 room pinnacle duxton for this matter

 

[windwaver]

Don't forget a couple of HDB 3rms TOPed nearby sold for 420~430K and 4rms (HDB) in that area is 550K on average .

I did say earlier in the thread that $1800 psf is very attractive and probably have a better understanding from ground sentiments.

They have to top up 1.1 million to buy back a 3 bedroom condo wor.. Unless of course they choose to squeeze in 2bedder and top up 700k.

Yup but most of the buyers on the ground use that as a baseline and don't forget, most families in that area are in their 30s or 40s which have a lot of buying power.

I used to be very conservative in my calculations but in the past decade, there is a shift in mindset.

A very good example is Punggol. There has been tons of bashing going on e.g. Pasir Gudang about how worthless it is to buy a property there. In fact, there is this person that stays all the way in Pioneer and talks like he/she know Punggol very well (look at Piermont Grand).

I'm not trying to sound offensive but do people really know the ground and the market these days? Frankly, even analysts in the sector can go wrong. What I do is give a frank assessment of the 'battlefield' and most of the time, it's quite realistic.

There are also quite a few like minded individuals who substantiate their claims by using facts which I appreciate. What can go really wrong are people who are out to distort the real situation with their baseless claims (e.g. fake news).

 

[RMCWMR]

Then you would choose 5 room flat at serangoon over 2bedroom condo at sengkang!

or even 5 room pinnacle duxton for this matter

But who are you to dictate what people will choose? Obviously he said bishan coz he likes bishan more. He may not like serangoon at all or even pinnacle. Not everyone wants to live in pinnacle even if they can afford it.

 

[RMCWMR]

Staying in a 5 rm flat, I really cannot imagine staying at a place 2x to 3x smaller, yet cost twice as much

Yeah but there is a mindset shift now. Its already proven. While you may not be part of this mindset shift, others are.

 

[Passerboy]

Yeah but there is a mindset shift now. Its already proven. While you may not be part of this mindset shift, others are.

The mindset shift is pretty evident, since there are more families staying in a 2 bedroom condo now, as pointed previously I know of a family of 3 bought a 2 bed 1 bath condo at clement canopy at after selling their 3 bedroom EC.

 

[1993newbie]

I’ve seen tons of neighbours in my complex with 3/4 pax staying in one bedders.

My neighbour 2 doors away have 2 teenage kids and all of them squeeze in one bedder.

The mindset shift is pretty evident, since there are more families staying in a 2 bedroom condo now, as pointed previously I know of a family of 3 bought a 2 bed 1 bath condo at clement canopy at after selling their 3 bedroom EC.

 

[pippo20]

From my understanding, majority are buying for own stay instead of rent for SKG. A lot of these ppl are staying nearby Buangkok, SK or even Punggol area, and have sold their flats that reached MOP for profit. They are also comfortable with staying within this area rather than town because in laws residing around there. Those agents that reach out to the bulk of ppl residing here would probably get some leads.

They likely also chose SKG over Woodleigh Residences for the same above reasons. Sometimes, sentimental value of staying within an area is a key factor, I believe it’s the same for those buying Northpark, they are also staying ard Yishun, Khatib area.

Did u even see the saleschart? Buy for own stay?? 85% are 1 or 2bedders? Good for DINK only.

 

[Forever84]

I Guess I enter the market same era as your uncle. The only difference is I continue to stay vested till 2017. I have witnessed how my first property was bought at 500psf till my last property at near 2k psf. I am perfectly fine with price increasing over time and understand that there’s always a new price norm in every phase.
But if one wants to stay vested in every property cycle, you really need to compare all projects in relative, study surrounding rental and sales trend, and make informed decision based on upcoming growth through studying of masterplan.
Buying w/o doing due diligence, calculation and comparison with other projects is a dangerous thing and may end up setting the buyer to take at least 5-10 years to repent. Yes, market will eventually takes time to adjust itself but who wants to wait for 10 years or more to finally see meagre profit in their property? All that is lost is Not just the waiting time but also the opportunity cost to invest in other better projects that takes a Much shorter time to see capital appreciation.

It really depends on what you want ba... Not everyone buys a condo for investment purpose. I mean I see my place as a home and not necessarily a 30% appreciation over 10 years kind of thing.

 

[NiShiZhu]

It really depends on what you want ba... Not everyone buys a condo for investment purpose. I mean I see my place as a home and not necessarily a 30% appreciation over 10 years kind of thing.

Even buying for self stay, no one wants their asset to see no price appreciation or just meagre profit over Long term.
I’m pretty sure SKG at 17xxpsf won’t see much potential upside not only in the near future, but in Long term perhaps. There are many similarly priced projects at RCR that is much better than SKG in terms of location and amenities. I could be wrong but I trust my judgement as it seldom fails me.

 

[Passerboy]

Did u even see the saleschart? Buy for own stay?? 85% are 1 or 2bedders? Good for DINK only.

Yup its likely for DINK or one kid.

The 1 bedder are likely those who are singles and want their own abode but have grew up in SK, Punggol area.

 

[Clazav]

There is no such thing as for pure living. Because no matter how you look at, for own stay only, you only have hdb to look at, unless you are foreigners. Deep in everyone's mind, they hope for some sort of appreciation.

It really depends on what you want ba... Not everyone buys a condo for investment purpose. I mean I see my place as a home and not necessarily a 30% appreciation over 10 years kind of thing.

 

[Polar Bear King]

it saddens me to see the sales chart and what it implies
so many couples with 0/1 kid

 

[Polar Bear King]

There is no such thing as for pure living. Because no matter how you look at, for own stay only, you only have hdb to look at, unless you are foreigners. Deep in everyone's mind, they hope for some sort of appreciation.

actually I don't want leh
I just want a flat big enough to stay in comfortably and conveniently

 

[Forever84]

There is no such thing as for pure living. Because no matter how you look at, for own stay only, you only have hdb to look at, unless you are foreigners. Deep in everyone's mind, they hope for some sort of appreciation.

Well... I can't buy a BTO or EC, so what choice do I have again?

If it appreciate, that's great, but by then if I sell, the market price for a replacement unit will also be high, so what's the difference??

There are people who buy for own stay. Of course those will be slightly bigger units. That said I have also seen families sqeeuze into a 2 bedroom. Which I mean is their choice la, I don't judge.

 

[1993newbie]

On a side note, saw this ad on IG. Similar to Parc Riviera, one price for all level.