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Old 13-06-2019, 06:44 PM   #121
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How is it possible to buy one of these flats without hitting MSR with 14k income cap? (Assuming with car loan)
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Old 13-06-2019, 08:03 PM   #122
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How is it possible to buy one of these flats without hitting MSR with 14k income cap? (Assuming with car loan)
Msr don't look at car loan
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Old 13-06-2019, 09:17 PM   #123
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How is it possible to buy one of these flats without hitting MSR with 14k income cap? (Assuming with car loan)
This

Buyer staying together with parents and slidings.
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Old 13-06-2019, 09:52 PM   #124
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Some first timers get too excited to stay in condo.

Others die die want to stay in penthouse.

End up regretting squeezing in pigeonhole with small living and bedrooms, and realise the inconvenience of staying with too many people (siblings/parents).
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Old 14-06-2019, 10:40 AM   #125
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I never believe that EC got good capital appreciation because location is a major factor and EC all have bad location
[IMG] upload[/IMG]

not sure if can see the screenshot..the past 20 transactions above, the min capital appreciation of $194k.. and as high as $480k profit( vs their entry price at $899k, more than 50% profit).. I agree that most EC doesn't have good location, but there are some exceptions, like Esparina Residences and Prive.. both are walking distance to MRT.. got no comments for others though.. but considering the lower entry price, cant complain ady..
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Old 14-06-2019, 10:45 AM   #126
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[IMG] upload[/IMG]

not sure if can see the screenshot..the past 20 transactions above, the min capital appreciation of $194k.. and as high as $480k profit( vs their entry price at $899k, more than 50% profit).. I agree that most EC doesn't have good location, but there are some exceptions, like Esparina Residences and Prive.. both are walking distance to MRT.. got no comments for others though.. but considering the lower entry price, cant complain ady..
When you are paying a price close to private condo, is there still room for appreciation?

I am so used to agents telling very biased stories and presenting only information that helps their sales.
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Old 14-06-2019, 10:51 AM   #127
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Thanks, 20% percent is the killer
the breakdown and timeline for EC


5% - upon booking (cash only)
15% within 9 weeks ( cash / cpf )
5% - earmark for foundation completion (cash / cpf)

downpayment 25% + max loan 75%

Also got Deferred Payment Scheme for EC

25% downpayment( as above ) and the balance 75% upon TOP
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Old 14-06-2019, 10:59 AM   #128
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Talking

When you are paying a price close to private condo, is there still room for appreciation?

I am so used to agents telling very biased stories and presenting only information that helps their sales.

Currently there are no new private condo launches in the same area, so canot comment wat would be the new launches pricing.. wont be so fair if compare to Parc Botannia ( the closest new launch to here) as they were launched 2 years back.. but imagine if Piermont Grand is not an EC, what would be the developer's launching price ? Definitely not at $1150psf .. There is another empty plot of land near to Townhub slated for private condo, don't think the price will be anywhere close to $1150psf..
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Old 14-06-2019, 11:20 AM   #129
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Currently there are no new private condo launches in the same area, so canot comment wat would be the new launches pricing.. wont be so fair if compare to Parc Botannia ( the closest new launch to here) as they were launched 2 years back.. but imagine if Piermont Grand is not an EC, what would be the developer's launching price ? Definitely not at $1150psf .. There is another empty plot of land near to Townhub slated for private condo, don't think the price will be anywhere close to $1150psf..
Just look at all the punggol/SK resales including those newer ones, prices are still hovering around $1050psf. Does buying piermont executive condominium (subsidized housing) at $1150 still make sense to you. Of course, you have to force yourself to make sense of it with illogical reasoning since you are agent.

If piermont is not EC, I would say it will (try to) sell for $1,250 psf. With today's market, it may not even be 20% sold at launch. Dont tell me you are expecting this sort of location (the outskirts of the island) and surrounded by HDB at all 4 sides to sell for $1,400psf..

Tampines may not be an accurate comparison but it is considered a matured estate and historically command a higher price than Punggol. Should private at punggol go above $1280psf then, bearing in mind that tampines is not selling very well and may cut prices lower.

Wish you luck on piermont launch weekend. Take some photos of the 3-bedder 839sqft showflat for us..

Last edited by annetyu; 14-06-2019 at 11:22 AM..
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Old 14-06-2019, 11:36 AM   #130
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Just look at all the punggol/SK resales including those newer ones, prices are still hovering around $1050psf. Does buying piermont executive condominium (subsidized housing) at $1150 still make sense to you. Of course, you have to force yourself to make sense of it with illogical reasoning since you are agent.

If piermont is not EC, I would say it will (try to) sell for $1,250 psf. With today's market, it may not even be 20% sold at launch. Dont tell me you are expecting this sort of location (the outskirts of the island) and surrounded by HDB at all 4 sides to sell for $1,400psf..

Tampines may not be an accurate comparison but it is considered a matured estate and historically command a higher price than Punggol. Should private at punggol go above $1280psf then, bearing in mind that tampines is not selling very well and may cut prices lower.

Wish you luck on piermont launch weekend. Take some photos of the 3-bedder 839sqft showflat for us..

Watertown launching price 7 yrs back was already $12xxpsf average.. and that time there wasn't any shopping mall / amenities around when they launch.. is it possible for the next new launch prices to be lower than this? ( side track, the next plot of land is also mixed development).. I may be wrong, but those that are monitoring the Sg's property market would know tat chances are very slim.. totally agree Punggol is a 'place where birds oso don't lay eggs' location .. that was probably 10-15yrs ago ?an important point to note is the transformation that government have for this place.. that will determine the growth.. that's the first-movers advantage.. rather than entering the market when it's already 'mature estate' ..

[IMG] upload[/IMG]
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Old 14-06-2019, 11:40 AM   #131
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according to the masterplan , Punggol Digital District is slated to be completed in 2023 with integrated MRT station & new Singapore Institute of Technology campus, which will have approx. 12,000 students and JTC business park, which will generate approx. 28,000 job opportunities.. think of Silicon Valley .. PDD is gonna be Singapore's mini Silicon Valley ..

not sure if this makes any sense or sounds illogical to most buyers.. but pretty sure will have buyers that would able to see the potential in this area

Last edited by sgpropertyblog; 14-06-2019 at 11:45 AM..
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Old 14-06-2019, 11:49 AM   #132
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Watertown launching price 7 yrs back was already $12xxpsf average.. and that time there wasn't any shopping mall / amenities around when they launch.. is it possible for the next new launch prices to be lower than this? ( side track, the next plot of land is also mixed development).. I may be wrong, but those that are monitoring the Sg's property market would know tat chances are very slim.. totally agree Punggol is a 'place where birds oso don't lay eggs' location .. that was probably 10-15yrs ago ?an important point to note is the transformation that government have for this place.. that will determine the growth.. that's the first-movers advantage.. rather than entering the market when it's already 'mature estate' ..
Watertown is the flagship development of punggol and resale prices are now aro $1,300psf after pricing in the crazy developer bids and resulting absurd new launch prices. No other developments in punggol can possibly be better than watertown so it should be considered the upper bound.

By the time punggol is mature, the other towns will be super-mature. Anyway, nothing to do with "maturity", it is the location. Punggol, like Woodlands and Jurong West will always be the cheapest towns on the island because of their location on the outskirts...

You should advise your clients to invest in Tengah then..
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Old 14-06-2019, 11:52 AM   #133
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according to the masterplan , Punggol Digital District is slated to be completed in 2023 with integrated MRT station & new Singapore Institute of Technology campus, which will have approx. 12,000 students and JTC business park, which will generate approx. 28,000 job opportunities.. think of Silicon Valley .. PDD is gonna be Singapore's mini Silicon Valley ..

not sure if this makes any sense or sounds illogical to most buyers.. but pretty sure will have buyers that would able to see the potential in this area
Wow, that is a very prestigious university.

"Mini silicon valley", "second CBD", "waterfront living", I heard it many times over.
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Old 14-06-2019, 12:04 PM   #134
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the breakdown and timeline for EC


5% - upon booking (cash only)
15% within 9 weeks ( cash / cpf )
5% - earmark for foundation completion (cash / cpf)

downpayment 25% + max loan 75%

Also got Deferred Payment Scheme for EC

25% downpayment( as above ) and the balance 75% upon TOP
think for EC, banks will never max 75% loan. correct me if I'm wrong.

also, stamp duty, ABSD for existing HDB upgrader if still holding the flat, and levy (50k for 5rm flat owner) too.

the upfront is just too huge for upgraders which doesn't make sense comparing buying a private. That's what I came across during hundred palms.

At $1150psf, 50k levy added in might as well buy private and can get full 75% loan as well.
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Old 14-06-2019, 12:38 PM   #135
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think for EC, banks will never max 75% loan. correct me if I'm wrong.

also, stamp duty, ABSD for existing HDB upgrader if still holding the flat, and levy (50k for 5rm flat owner) too.

the upfront is just too huge for upgraders which doesn't make sense comparing buying a private. That's what I came across during hundred palms.

At $1150psf, 50k levy added in might as well buy private and can get full 75% loan as well.

the max 75% loan is based on your affordability and income..and not because its EC that's why you cant get max 75% loan.. even for private condo, if your income canot support, you also cant get 75% loan ya.. .

For EC, there is NO ASBD required even though you are still holding on to your current HDB.. this is the only exception as you are required to sign an undertaking letter to sell your HDB within 6 mths upon TOP..

and also for EC, your bank loan still eligible for 75% as its counted as '1st property' even though your current HDB has outstanding loan ( 2nd bank loan in Sg only can loan up to max 45% )

lastly, the resale levy canot run .. pay to government.. bo pien..
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