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Passerboy 01-08-2020 12:40 AM

Which new launch would you buy and why
 
Letís take a poll on the upcoming new launches you would buy and why between Penrose, Forrett and Clavon. My estimate of the expected psf to serve as a guide below:

Penrose (16xxpsf)
Forrett (18xxpsf)
Calvon (16xxpsf)

Forever84 01-08-2020 07:20 AM

Clavon

Many many new HDB in Clementi waiting to MOP in next 5-10 years and will sell for good price :)

Condo stock around the mrt area is limited

Polar Bear King 01-08-2020 07:31 AM

If all not good can just wait again
No rush to buy

RyanJosie 01-08-2020 07:40 AM

Quote:

Originally Posted by Polar Bear King (Post 128829960)
If all not good can just wait again
No rush to buy

only when the mortgage payment deferment scheme runs out do you discover who's been swimming naked.

robydjrsg 01-08-2020 08:03 AM

Quote:

Originally Posted by RyanJosie (Post 128830016)
only when the mortgage payment deferment scheme runs out do you discover who's been swimming naked.

Not only that ... Do you know that mortgage deferment does NOT stop your interest charging ... deferment means you will pay more later ... :(

bolster 01-08-2020 09:08 AM

Quote:

Originally Posted by robydjrsg (Post 128830193)
Not only that ... Do you know that mortgage deferment does NOT stop your interest charging ... deferment means you will pay more later ... :(

Well, The cost is around 1% or less for the installment. It is negligible. It benefit those people whose property reaching 3yrs soon.

NiShiZhu 01-08-2020 09:11 AM

For discussion purpose:
1) I feel it’s hard to see many Swimming naked after 9 rounds of slew CMs. Most owners should have considerably good holding power. Plus interest rate now at all time Low.

2) even if there’s pple Swimming naked and unit kenna foreclosure, would bank auction these units at 30-50% cheaper than current market price? Any bros here come across such cases?

3) If those who r facing financial difficulty to service their mortgage due to retrenchment, what’s the chances they would panic sell and lower their selling price significantly and in the end incur more debts for themselves? (I.e they pay for a property at 1mil, loan 750k, would they sell it to u at 800k?) Assuming they use full cpf for down payment at 20% which is 200k, 5% cash at 50k.)
in this case, wouldn’t the owners incur more debts (in the form of cash) by selling u at 200k losses?

4) I know many people around me apply for defer mortgage not because they can’t service their loan, it’s because they want to accumulate more cash during covid. Anyway, interest rate so Low now, what’s the worry for the accumulated interest for defer payment?

Oh ya, I voted for clavon if quantum is significantly lower than the other 2. :D

robydjrsg 01-08-2020 09:16 AM

These are unreal prices ... You will never get this price back after 3 years
 
Penrose (16xxpsf)
Forrett (18xxpsf)
Calvon (16xxpsf)

These are unreal prices ... You will never get this price back after 3 years ... Price will drop after lock-in period ....


Clear signs :

03- June-2020 To beat ABSD, 38 Jervois developer launches fire sale to clear units


05 May 2020 - The Business Times SGP -
Half of developers likely to cut prices of Singapore new launches

robydjrsg 01-08-2020 09:25 AM

Quote:

Originally Posted by bolster (Post 128830852)
Well, The cost is around 1% or less for the installment. It is negligible. It benefit those people whose property reaching 3yrs soon.

Thanks for the reply.

But are you sure cost is 1%? I dont think so .., you will keep paying your own accumulated interest (what ever is that % and surely thats more than 1.5% or near around so )

NiShiZhu 01-08-2020 09:27 AM

Quote:

Originally Posted by robydjrsg (Post 128830970)
Penrose (16xxpsf)
Forrett (18xxpsf)
Calvon (16xxpsf)

These are unreal prices ... You will never get this price back after 3 years ... Price will drop after lock-in period ....


Clear signs :

03- June-2020 To beat ABSD, 38 Jervois developer launches fire sale to clear units


05 May 2020 - The Business Times SGP -
Half of developers likely to cut prices of Singapore new launches

Is 38 jervois (a boutique development with poor layout, limited condo facilities) after discount still sell u at 2kpsf at a location not even near mrt or amenities still consider cheap? Obviously the initial launch price for 38 jervois was seriously inflated and that’s y can’t move units. :D

Don’t be fooled by the so called “fire-sale” and rush in like the last 16 buyers thinking it’s a steal at 2kpsf for that kinda boutique unit at that kinda location. :D

robydjrsg 01-08-2020 09:45 AM

Yes, yes,I agree with you, these are gimics to attract customers.
 
Quote:

Originally Posted by NiShiZhu (Post 128831132)
Is 38 jervois (a boutique development with poor layout, limited condo facilities) after discount still sell u at 2kpsf at a location not even near mrt or amenities still consider cheap? Obviously the initial launch price for 38 jervois was seriously inflated and thatís y canít move units. :D

Donít be fooled by the so called ďfire-saleĒ and rush in like the last 16 buyers thinking itís a steal at 2kpsf for that kinda boutique unit at that kinda location. :D


Yes, yes,I agree with you, these are gimics to attract customers. But with so many issues in the market and so much of disruption, I think those PSFs are non-recoverable in future at the time of resale ...


Some of the statistics below ( cant post the exact links but you can get just by googling these )

New roles for laid-off Singapore workers may not be perfect fit. PMET jobs, for example, tend to be quite specialised and need training first; other jobs may not be appealing enough, say observers :


Singapore property investment sales fall 45% in first half of 2020:


Singaporeís economic slump may have bottomed out but job losses, wage cuts likely to continue: Economists


About 3,800 companies closed down in April; expect uptick in coming months: Chee Hong Tat


SAT, JUL 18, 2020 : Where are the jobs?


JUL 15, 2020 : Singapore enters recession with record 12.6% GDP fall in Q2


JUL 14, 2020 : CNA : Singapore in technical recession after GDP shrinks 41.2% in Q2 from preceding quarter due to COVID-19

holasingapura 01-08-2020 09:51 AM

Quote:

Originally Posted by robydjrsg (Post 128830970)
Penrose (16xxpsf)
Forrett (18xxpsf)
Calvon (16xxpsf)

These are unreal prices ... You will never get this price back after 3 years ... Price will drop after lock-in period ....


Clear signs :

03- June-2020 To beat ABSD, 38 Jervois developer launches fire sale to clear units


05 May 2020 - The Business Times SGP -
Half of developers likely to cut prices of Singapore new launches

"Rich" buyers will make the prices become "real".

NiShiZhu 01-08-2020 09:56 AM

Quote:

Originally Posted by robydjrsg (Post 128831431)
Yes, yes,I agree with you, these are gimics to attract customers. But with so many issues in the market and so much of disruption, I think those PSFs are non-recoverable in future at the time of resale ...


Some of the statistics below ( cant post the exact links but you can get just by googling these )

New roles for laid-off Singapore workers may not be perfect fit. PMET jobs, for example, tend to be quite specialised and need training first; other jobs may not be appealing enough, say observers :


Singapore property investment sales fall 45% in first half of 2020:


Singapore’s economic slump may have bottomed out but job losses, wage cuts likely to continue: Economists


About 3,800 companies closed down in April; expect uptick in coming months: Chee Hong Tat


SAT, JUL 18, 2020 : Where are the jobs?


JUL 15, 2020 : Singapore enters recession with record 12.6% GDP fall in Q2


JUL 14, 2020 : CNA : Singapore in technical recession after GDP shrinks 41.2% in Q2 from preceding quarter due to COVID-19

Hehe I also don’t have the answer why 250 slots were fully taken for viewing at Forett showflat. If I’m not serious in buying, would I even bother to book an appointment with my agent, fill up forms, submit blank Cheque just to go for showflat viewings? :D

I also don’t have the answer y penrose is rumoured to price at 1700psf when the breakeven cost is only 12xxpsf. :D

koster 01-08-2020 09:58 AM

Quote:

Originally Posted by NiShiZhu (Post 128831563)
Hehe I also donít have the answer why 250 slots were fully taken for viewing at Forett showflat. If Iím not serious in buying, would I even bother to book an appointment with my agent, fill up forms, submit blank Cheque just to go for showflat viewings? :D
I also donít have the answer y penrose is rumoured to price at 1700psf when the breakeven cost is only 12xxpsf. :D

Went to view forett. No need to fill in blank cheque.

bolster 01-08-2020 09:59 AM

Quote:

Originally Posted by robydjrsg (Post 128831088)
Thanks for the reply.

But are you sure cost is 1%? I dont think so .., you will keep paying your own accumulated interest (what ever is that % and surely thats more than 1.5% or near around so )

Well, if your loan tenure is shorter, it should be more than 1% of the loan installment.

Well, even if it is 2%, it is still negligible. isn't it?
:D


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