Is Parc Riviera a good choice for investment/ own stay?

gyh725

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Hi guys, we are looking at 4 bedder units for a resale condo. Currently shortlisted a few units from Parc Riveria, the asking price is around 1.6M for 1152sqft which is slightly cheaper than the nearby newer developments like Twin Vew and GW. Do you think that’s a good buy?

We are planning to give up the BTO 5 room unit opposite Tampines west MRT (at 510k) due to the long delay till 2024.

Honestly, we are not sure if it is a wise choice to buy a resale condo at this time.

Appreciateany advice or guidance here.
 

Pokémon

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Honestly, we are not sure if it is a wise choice to buy a resale condo at this time.

Appreciateany advice or guidance here.
So, why not a resale HDB, why condo?

You need to ask yourself what your primary purpose is. What do you mean by 'wise choice', from what perspective are you looking at?
 

1993newbie

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A lot of 4 bedders transacted this year... Healthy resale transaction in PR

Now both blocks are within 1Km to Nan Hua
 

rockmillion

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Hi guys, we are looking at 4 bedder units for a resale condo. Currently shortlisted a few units from Parc Riveria, the asking price is around 1.6M for 1152sqft which is slightly cheaper than the nearby newer developments like Twin Vew and GW. Do you think that’s a good buy?

We are planning to give up the BTO 5 room unit opposite Tampines west MRT (at 510k) due to the long delay till 2024.

Honestly, we are not sure if it is a wise choice to buy a resale condo at this time.

Appreciateany advice or guidance here.

if going for resale with 1.6 mil budget and requirement is 4br, better look for at least 1250 sqft ++ size unit. You may need to change location but a good size 4br will have more chances to appreciate and you will enjoy the bigger space for self stay also. 1152 sqft is too small for 4br and will be hard to sell to future upgraders.

From 510K BTO to 1.6mil condo is a big jump in terms of budget. i hope you have done your maths properly for affordability. If your financials allow then enter the private property earlier is better.
 

CaptainSGP

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Hi guys, we are looking at 4 bedder units for a resale condo. Currently shortlisted a few units from Parc Riveria, the asking price is around 1.6M for 1152sqft which is slightly cheaper than the nearby newer developments like Twin Vew and GW. Do you think that’s a good buy?

We are planning to give up the BTO 5 room unit opposite Tampines west MRT (at 510k) due to the long delay till 2024.

Honestly, we are not sure if it is a wise choice to buy a resale condo at this time.

Appreciateany advice or guidance here.
Imo, i think giving up a 5room BTO is a bad choice. You will be better off renting till 2024. You are giving up easily 200k - 300k of capital gains on your Tampines West BTO.

Parc Riveria will likely always be cheaper than Twin Vew & Whistler Grand given that it is older.

Where do u work & where do your parents live ?
 

CaptainSGP

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if going for resale with 1.6 mil budget and requirement is 4br, better look for at least 1250 sqft ++ size unit. You may need to change location but a good size 4br will have more chances to appreciate and you will enjoy the bigger space for self stay also. 1152 sqft is too small for 4br and will be hard to sell to future upgraders.

From 510K BTO to 1.6mil condo is a big jump in terms of budget. i hope you have done your maths properly for affordability. If your financials allow then enter the private property earlier is better.
I disagree that 1152 sqft is too small. This PR 4b layout is very efficient, minimal wasted space & no huge aircon ledge. Master bedroom can fit King size bed, all other bedrooms can fit queen size. Living room & dining space is pretty decent also. Kitchen is smaller than usual, but most ppl dont cook much or require huge kitchen space nowadays.

Reason why it is not 1250 sqft is because of the absence of yard, no bay windows (useless space), reasonably small aircon ledge space .

 

1993newbie

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Imo, i think giving up a 5room BTO is a bad choice. You will be better off renting till 2024. You are giving up easily 200k - 300k of capital gains on your Tampines West BTO.
2021-2024 > Cost of rental, adding on rental is on the uptrend.
2024-2029 > Fulfilling MOP

2021 to 2029, 8 years wait to gain that $200-300k.....hmmmmmmmmm

 

Passerboy

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2021-2024 > Cost of rental, adding on rental is on the uptrend.
2024-2029 > Fulfilling MOP

2021 to 2029, 8 years wait to gain that $200-300k.....hmmmmmmmmm

If he had bought a four bedder at Parc Riveria at launch previously as Low as $12xxpsf, no need wait 8 years already can gain 200-300k..
 

1993newbie

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In 2021, only DBSS Centrale has hit $800k mark for Tampines 5-room resale.

Come 2029, a few THOUSANDS BTOs in Tampines West and Tampines North will hit MOP....
Will market accept $800k in Tampines for newly MOP 5-room? Time will tell..
 
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1993newbie

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If he had bought a four bedder at Parc Riveria at launch previously as Low as $12xxpsf, no need wait 8 years already can gain 200-300k..
To be fair, Parc Riviera was launch in 2016, timeline might be different back then.
Probably TS was still young or have yet to find the other half..

E.g. 2016 I just finish NS, just entered workforce few months nia. Can't get bank loan too. So 2018, i went for Twin Vew.. but no get la
 

CaptainSGP

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2021-2024 > Cost of rental, adding on rental is on the uptrend.
2024-2029 > Fulfilling MOP

2021 to 2029, 8 years wait to gain that $200-300k.....hmmmmmmmmm

Hmm.. I think a lot will also depend on where he/she works & parents' addresses & whether staying with parents is feasible.

I would have had the same thoughts 1 year ago, where PR prices are much lower. Its not easy to get a Tampines West or near MRT 5 room HDB. Nowadays, all near MRT sites do not have 5 room. Why give up a 'lottery' ?

I cant see the PR unit making >300k in 8 years given the huge levels of supply around the area. Plus there's 999 year condos there.

Can Tampines West 5 Room opp MRT hit 800k in 8 years ? I think so. Near MRT, freahly MOP-ed. I would be inclined to think that a buyer would prefer this over DBSS Centrale. If both are at the same price, I would prefer this over DBSS Centrale 5 room. Another comparison is DBSS Belvia where many 5 room has hit $800k.
 

1993newbie

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Parc Riviera has come a long way. They launch with single tier pricing for level 2-15....

Now Huat Huat!
 

CaptainSGP

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To be fair, Parc Riviera was launch in 2016, timeline might be different back then.
Probably TS was still young or have yet to find the other half..

E.g. 2016 I just finish NS, just entered workforce few months nia. Can't get bank loan too. So 2018, i went for Twin Vew.. but no get la
Wow, u managed to buy TV just 2 years in workforce. Congrats !!
 

rockmillion

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2021-2024 > Cost of rental, adding on rental is on the uptrend.
2024-2029 > Fulfilling MOP

2021 to 2029, 8 years wait to gain that $200-300k.....hmmmmmmmmm


Yes it's not easy to break the waiting game and private property prices are increasing at a much faster pace compared to HDB.

If TS finances allow then why not buy a resale condo (Newly TOP) today to end this waiting game and enjoy condo facilities and safeguard yourself from being priced out from the private property. After 8 years what will be the price of new TOP codno? definitely not 1300-1400psf and 200-300K profit from bto will not be able to cover to buy new TOP condo after 8 years.

If finances allow one should buy private property earlier unless one wants to stay in HDB for a very long term.
 

rockmillion

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I disagree that 1152 sqft is too small. This PR 4b layout is very efficient, minimal wasted space & no huge aircon ledge. Master bedroom can fit King size bed, all other bedrooms can fit queen size. Living room & dining space is pretty decent also. Kitchen is smaller than usual, but most ppl dont cook much or require huge kitchen space nowadays.

Reason why it is not 1250 sqft is because of the absence of yard, no bay windows (useless space), reasonably small aircon ledge space .


This can be subjective and depend on individual preferences for the size of the living room, kitchen, and yard availability. if TS finds this size and layout suitable for his family then should be ok.
 
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