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Old 28-07-2019, 09:35 AM   #1516
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It was 5% last time
Wow! Didn't know that. Can see the 2nd timers are doing the heavy lifting for Piermont Grand's sales figures!
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Old 28-07-2019, 09:43 AM   #1517
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Wow! Didn't know that. Can see the 2nd timers are doing the heavy lifting for Piermont Grand's sales figures!
It is very tough for them to sell the remaining to first timers I think.

Let's assume the first timers are somehow at the $14k salary mark at their young young age.

They can at most service a $4.2k loan. Max Loan amount maybe $1.1mil assuming no car loans.

Somehow they need to fork out at least $400k by cash/CPF for the $1.5mil properties. And they need to ensure both of them continue having jobs for the next 29 years at minimum of that pay.
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Old 28-07-2019, 11:04 AM   #1518
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Yes u r spot on bro

Today's highs is gona b tmr's lowest

Buy now or regret later

EC sure huat one no need think

Cos pte condo will sure adjust pricing to match ec



So some of these people who have never take action yet will become one of the bear's league and always talk down the property market.
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Old 28-07-2019, 11:06 AM   #1519
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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k

It is very tough for them to sell the remaining to first timers I think.

Let's assume the first timers are somehow at the $14k salary mark at their young young age.

They can at most service a $4.2k loan. Max Loan amount maybe $1.1mil assuming no car loans.

Somehow they need to fork out at least $400k by cash/CPF for the $1.5mil properties. And they need to ensure both of them continue having jobs for the next 29 years at minimum of that pay.
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Old 28-07-2019, 11:12 AM   #1520
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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k
This is true, a lot of young people (bro: canít use labelling, not just limited to grads haha) are financially shrewd and make a lot of investments early. A couple who start young can easily save up for the down payment for a 1.5m EC by 35 (since ppl marry later).
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Old 28-07-2019, 11:22 AM   #1521
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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k
Have not included loan interest and stamp duties and minor renovation costs.

Need 500k at least

And this is assuming these financially savvy youngsters are ok to have near zero savings right after that.

Last edited by momoeagle; 28-07-2019 at 11:31 AM..
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Old 28-07-2019, 11:24 AM   #1522
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This is true, a lot of young people (bro: canít use labelling, not just limited to grads haha) are financially shrewd and make a lot of investments early. A couple who start young can easily save up for the down payment for a 1.5m EC by 35 (since ppl marry later).
No wonder developers want to squeeze all their money away. What better time to squeeze these rich young couples and make them slaves of their properties for the next 29 years right?
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Old 28-07-2019, 11:34 AM   #1523
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No wonder developers want to squeeze all their money away. What better time to squeeze these rich young couples and make them slaves of their properties for the next 29 years right?
The problem is we are all slaves to our properties, cars and credit card debts. The only thing is if these assets that we are slaves to can become a servant to us in time to comeó and the most probable prospect is that of a property. So young individuals who are financially savvy are more willing to be slaves to property and shares than any others.

Oh ya, for discussion: a lot of ppl will rather splurge on a house than a car now, given the convenience of our transport node so they save a lot in that aspect.

Last edited by Passerboy; 28-07-2019 at 11:38 AM..
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Old 28-07-2019, 11:36 AM   #1524
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Those are not the biggest concerns for the future residents of Piermont Grand! As compared to the mega foreign workers dormitories just 500 meters north-west of Piermont Grand EC. They even have their own Golden Village cinemas (run by S11 under the carnival branding)!
https://www.straitstimes.com/singapo...t-workers-dorm

Toxic fumes that can cause cancer, brain damage and breathing problems are the gravest concerns.

Mosquitoes infestation is the second gravest concern.

Followed by time wasted living far north in Singapore.

Of course, there may be safety concerns due to foreign workers dormitory although I am trying not to over generalise them.
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Old 28-07-2019, 11:53 AM   #1525
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My flat is next to Buangkok MRT and just opposite the upcoming Sengkang central mall/residences. If this new condo is selling at such prices, it makes keeping my flat a lot more attractive. This EC would be a location downgrade for me.
U mean this ec right?
HDB to ec to DBsS to pc to me a
Is never a downgrade

Of coz the upcoming Sengkang central residence launch price shall decide the winner for Sengkang Punggol and not to forget its sales closure
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Old 28-07-2019, 11:55 AM   #1526
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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k
I am very sure fresh grad itself wonít have 6figure
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Old 28-07-2019, 11:58 AM   #1527
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Wow! Didn't know that. Can see the 2nd timers are doing the heavy lifting for Piermont Grand's sales figures!
2nd timers mostly still holding on their bto
We shall see their selling price in few years time
If 4 room still can maintain selling price above $420k in 2022-2023, Singapore is doing good.

More ft becoming pr and citizens then
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Old 28-07-2019, 12:07 PM   #1528
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I am very sure fresh grad itself wonít have 6figure
I only hit my first 100k savings 2 years after grad. Not fresh grad but possible.
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Old 28-07-2019, 12:12 PM   #1529
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The problem is we are all slaves to our properties, cars and credit card debts. The only thing is if these assets that we are slaves to can become a servant to us in time to comeó and the most probable prospect is that of a property. So young individuals who are financially savvy are more willing to be slaves to property and shares than any others.

Oh ya, for discussion: a lot of ppl will rather splurge on a house than a car now, given the convenience of our transport node so they save a lot in that aspect.
Cannot generalise like that.

I have no other loans except for housing. And that's because housing loan interest is extremely low interest. Car loan already fully paid.

I'm only slaves to my children.

I'm also not willing to be too much of a slave to property. That's why my max budget is 1.5m property, which will yield me a loan which can be cleared within 5 years to 10 years of TOP.

But being mid 30s, maybe I'm not the young and financially savvy group you are referring to, so probably I won't understand.
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Old 28-07-2019, 12:19 PM   #1530
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This is true, a lot of young people (bro: canít use labelling, not just limited to grads haha) are financially shrewd and make a lot of investments early. A couple who start young can easily save up for the down payment for a 1.5m EC by 35 (since ppl marry later).
Let me provide some numbers. 30% of a cohort will be graduates. The median salary for graduates is $3,500. If an avg uni grad couple saves their entire salary (which is unlikely) then they will be able to save 400k in 5 years.

Unfortunately those impressive graduates who come out with 6-digit savings right after graduation (that made ahboy82 jealous) are probably those with rich parents and limited to less than 5% of uni grads. Those who make early investments are also the minority.

These privileged young graduates are also unlikely to eye ec like sumang. They can easily afford RCR private condo projects which enables them to commute easily to the financial districts.

Looks like a certain ahboy here is trying to talk up the market. Unfortunately it seems his resale unit prices are stagnant.
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