OLA EC @ Anchorvale

dragonbryan

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oh, u referring to resale ECs .. if resale ECs at 9xx psf vs New EC at 10xx psf, which one will u get ? who doesn't like new things? new car, new house.. new wife?? hahah, just kidding..

I'm getting the resale definitely. For a property, 5-6 years old is consider quite new le. To put it to perspective, can you imagine new BTO more expensive that resale BTO if location is similar? Lol
 

momoeagle

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I'm getting the resale definitely. For a property, 5-6 years old is consider quite new le. To put it to perspective, can you imagine new BTO more expensive that resale BTO if location is similar? Lol

My opinion, I will go for resale EC as well if it is me.
 

momoeagle

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Err.. if u are talking about new ECs, then confirm canot get at 9xxpsf.. cos the cheapest one at the moment oso 10xx psf le..

Being an EC, I think the psf is crazy regardless of what agents and developers are saying.

In fact, with the on-going virus, together with this crazy high price, I am thinking of not even going to visit the showflat at all since I will not be buying it.

Have to face the fact that I have no cash :sad::sad:
 

sgpropertyblog

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Being an EC, I think the psf is crazy regardless of what agents and developers are saying.

In fact, with the on-going virus, together with this crazy high price, I am thinking of not even going to visit the showflat at all since I will not be buying it.

Have to face the fact that I have no cash :sad::sad:

Sad to say that this are the current market pricing for new EC ady.. even if market crash, government will not release anymore land for sale until the market picks up.. ultimately, if the pricing doesnt hit the min reserve price, the land sales wont be triggered in the first place.. and if the developer’s land bank ady running low, then they will bid aggressively for land.. whether to wait further or to buy now, the decision is up to the buyers..
 

momoeagle

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Sad to say that this are the current market pricing for new EC ady.. even if market crash, government will not release anymore land for sale until the market picks up.. ultimately, if the pricing doesnt hit the min reserve price, the land sales wont be triggered in the first place.. and if the developer’s land bank ady running low, then they will bid aggressively for land.. whether to wait further or to buy now, the decision is up to the buyers..

It just means I won't be buying an EC anytime soon :s13:

If developers want to charge high high and there are buyers willing to bail them out by paying higher and higher, then let them lor. Willing buyer willing seller mah.

It does not mean I need to join in.

As what our PM already said regarding the economy:
"I can't say whether we will have a recession or not," said Mr Lee.
"It's possible, but definitely our economy will take a hit."
I probably need my cash now, if opportunity rises, to take advantage of situations.
 
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K|muRa^84

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Why so averse to taking a loan?

Being an EC, I think the psf is crazy regardless of what agents and developers are saying.

In fact, with the on-going virus, together with this crazy high price, I am thinking of not even going to visit the showflat at all since I will not be buying it.

Have to face the fact that I have no cash :sad::sad:
 

holasingapura

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Sad to say that this are the current market pricing for new EC ady.. even if market crash, government will not release anymore land for sale until the market picks up.. ultimately, if the pricing doesnt hit the min reserve price, the land sales wont be triggered in the first place.. and if the developer’s land bank ady running low, then they will bid aggressively for land.. whether to wait further or to buy now, the decision is up to the buyers..

No worries. Developers have been bidding way above the reserve price and the government has been laughing to the bank.

As said before, developers created this oversupplied and weak property market themselves, don't expect anyone to rescue them. SInkies pay lesser for properties and more on goods and services, government more than happy.
 

Clazav

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By right, new should be more expensive than old. Like new car more exp than old car. The hdb bto and resale price difference is twisted in my opinion. Now there is some correction.

I'm getting the resale definitely. For a property, 5-6 years old is consider quite new le. To put it to perspective, can you imagine new BTO more expensive that resale BTO if location is similar? Lol
 

Clazav

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I thought recently gov just helped some developers?

No worries. Developers have been bidding way above the reserve price and the government has been laughing to the bank.

As said before, developers created this oversupplied and weak property market themselves, don't expect anyone to rescue them. SInkies pay lesser for properties and more on goods and services, government more than happy.
 

momoeagle

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Why so averse to taking a loan?

When you are almost loan-free, with almost enough to fully retire before 40 (but I won't), the next thinking becomes... should I take up more loan or not :(

However, I'm not adverse to taking a loan, but I have two main concerns:

(1) I'm not planning to "downgrade" to a smaller unit, regardless EC or HDB or PC. Why cramp my family into a smaller unit?

(2) I cannot afford a larger unit. The next larger unit after my 111 sqm 5-rm flat is a 4 bedroom 1389 sqft unit. At $1.1k psf, it would be almost $1.62 mil inclusive of resale levy and stamp duty.

Excluding resale levy, which can come from the HDB, I would probably need to fork out $355k for downpayment and stamp duty.

It's not that we don't have that liquidity; we have that in cash already. We have more than that amount in stocks and corporate bonds as well giving a decent yield as some mimimal income, that we could sell and push into the property.

It just doesn't make sense to reset all hard work to zero for something that I think is way overpriced. Not just that, it would also mean sacrificing the comforts of our current lifestyle just for the property. It really doesn't make sense.

I will need at least double of what we have now to comfortably afford and enjoy what the property has to offer.

That's why I think the cash still not enough.
 

Clazav

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Being near hospital is not something only ola ec has. Properties near ttsh, sgh, ktph, and the one in jurong east (can't rem the name) still sell pretty well.

Entrance of showflat doesn't sell.
Spanish theme doesn't attract me.

The telehealth service is interesting, and I feel like it compliments being beside a hospital.

Now the problem comes.... With the virus on-going, and SKGH being like "ground zero" with an isolated patient, will there still be crowds at the showroom?

Then, the other concern is in the longer term... Let's say another epidemic occurs, would you dare to take the LRT that is just beside the hospital, with lots of patients bringing germs and viruses in and out of the hospital to the LRT station?

To me.... I want to study how Ola is going to be sold with the launch date just after the virus outbreak, if it is sold at a high psf. Good lesson on marketing.
 

momoeagle

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Being near hospital is not something only ola ec has. Properties near ttsh, sgh, ktph, and the one in jurong east (can't rem the name) still sell pretty well.

Well, same goes for Cigarettes. I avoid it because I know it does harm on the body, and I absolutely detest the smell.

But they still sell pretty well.

Does it mean I need to join in buying it?
 

Forever84

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When you are almost loan-free, with almost enough to fully retire before 40 (but I won't), the next thinking becomes... should I take up more loan or not :(

However, I'm not adverse to taking a loan, but I have two main concerns:

(1) I'm not planning to "downgrade" to a smaller unit, regardless EC or HDB or PC. Why cramp my family into a smaller unit?

(2) I cannot afford a larger unit. The next larger unit after my 111 sqm 5-rm flat is a 4 bedroom 1389 sqft unit. At $1.1k psf, it would be almost $1.62 mil inclusive of resale levy and stamp duty.

Excluding resale levy, which can come from the HDB, I would probably need to fork out $355k for downpayment and stamp duty.

It's not that we don't have that liquidity; we have that in cash already. We have more than that amount in stocks and corporate bonds as well giving a decent yield as some mimimal income, that we could sell and push into the property.

It just doesn't make sense to reset all hard work to zero for something that I think is way overpriced. Not just that, it would also mean sacrificing the comforts of our current lifestyle just for the property. It really doesn't make sense.

I will need at least double of what we have now to comfortably afford and enjoy what the property has to offer.

That's why I think the cash still not enough.

Very sensible post. End of day really boils down to your needs, wants and risk appetite.

For sure among the younger generation there is a want for something nice, I know at least one person who made the choice to buy a studio unit and after getting married, it becomes more a liability than an asset because they can't offload at the price they want and they don't have enough to buy another sizable PC

End of day, I think it's more important to visualise whether the unit u buying is a unit u can stay for next 10-20 years if needed
 

Eraval

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By right, new should be more expensive than old. Like new car more exp than old car. The hdb bto and resale price difference is twisted in my opinion. Now there is some correction.



Not really twisted though.


Govt should keep BTO prices down so that the mass can get them at affordable prices, they are supposed to be entry level homes. Yet why does resale HDB prices keep going up? Cause people peg them to the condo prices mah. Sky Habitat and Sky Vue at Bishan cost $1.2k-$1.6k. As long as the HDB blocks near there are below, it still makes sense to people wor. Like ok, I can't afford the 2mil for a 3 bedder at Sky Habitat, but 600k for a mansionette at a nearby location is doable wor. So I cough it up lor
 

1993newbie

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Canberra BTO is quite affordable. Look at 2015 vs 2020 price. Toa Payoh launch also quite affordable with 4 room starting from $395k.

Back when Caldecott BtO was first launch in 2012, the 4 room starts from $428k.

wh2TeR7.jpg


Not really twisted though.


Govt should keep BTO prices down so that the mass can get them at affordable prices, they are supposed to be entry level homes. Yet why does resale HDB prices keep going up? Cause people peg them to the condo prices mah. Sky Habitat and Sky Vue at Bishan cost $1.2k-$1.6k. As long as the HDB blocks near there are below, it still makes sense to people wor. Like ok, I can't afford the 2mil for a 3 bedder at Sky Habitat, but 600k for a mansionette at a nearby location is doable wor. So I cough it up lor
 

Eraval

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Canberra BTO is quite affordable. Look at 2015 vs 2020 price. Toa Payoh launch also quite affordable with 4 room starting from $395k.

Back when Caldecott BtO was first launch in 2012, the 4 room starts from $428k.

wh2TeR7.jpg



All BTOs are affordable, if I could I would have taken a new 5 bedroom HDB, nearer to MRT some more. But unfortunately, cannot. Really sucks to be at the gap there. Neither here nor there. At mercy of developers.
 

Clazav

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Yes, bto is for commoners and so should always remain affordable. Subsidies is provided in the form of cpf grant instead of lowering the bto price.

Resale is more exp generally because sellers hope to earn. In most of our mind, we are wired in such a way that we think properties can only profit and not lose. More so for hdb.

Not really twisted though.


Govt should keep BTO prices down so that the mass can get them at affordable prices, they are supposed to be entry level homes. Yet why does resale HDB prices keep going up? Cause people peg them to the condo prices mah. Sky Habitat and Sky Vue at Bishan cost $1.2k-$1.6k. As long as the HDB blocks near there are below, it still makes sense to people wor. Like ok, I can't afford the 2mil for a 3 bedder at Sky Habitat, but 600k for a mansionette at a nearby location is doable wor. So I cough it up lor
 

Clazav

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Ya la, so it is personal preference. But over here we are talking about property not just for own stay but also for investment. I also don't like cigarettes but that doesn't mean I can't be an employee in a cigarette company. Public sentiment is more important than individual opinion, at least for me.

If u ask me, is it worth to pay several hundred psf to stay in the town, I'll say siao la. I don't go to town that often, and even if I do so, I drive and park there and pass through the erp at peak hours, I don't think the amount paid for many years will exceed few hundred thousands. But then if general sentiment prefers that, then I'll say it is worth buying still. If general sentiment accept living near hospitals then I'll think it is still fine to get.


Well, same goes for Cigarettes. I avoid it because I know it does harm on the body, and I absolutely detest the smell.

But they still sell pretty well.

Does it mean I need to join in buying it?
 

momoeagle

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Ya la, so it is personal preference. But over here we are talking about property not just for own stay but also for investment. I also don't like cigarettes but that doesn't mean I can't be an employee in a cigarette company. Public sentiment is more important than individual opinion, at least for me.

If u ask me, is it worth to pay several hundred psf to stay in the town, I'll say siao la. I don't go to town that often, and even if I do so, I drive and park there and pass through the erp at peak hours, I don't think the amount paid for many years will exceed few hundred thousands. But then if general sentiment prefers that, then I'll say it is worth buying still. If general sentiment accept living near hospitals then I'll think it is still fine to get.

Conversely I think is ok to live on top of land that were previously cemeteries. 😂

Yes personal preferences, which is why I don't plan on Ola now.
 

momoeagle

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Very sensible post. End of day really boils down to your needs, wants and risk appetite.

For sure among the younger generation there is a want for something nice, I know at least one person who made the choice to buy a studio unit and after getting married, it becomes more a liability than an asset because they can't offload at the price they want and they don't have enough to buy another sizable PC

End of day, I think it's more important to visualise whether the unit u buying is a unit u can stay for next 10-20 years if needed

I'm looking for a new place, part of the reason is because I want to right some wrongs that I did when I first got the property, if you know what I mean.

There were some things I should have done but didn't because family dynamics were different then. A lot of things I did not foresee because kids were not around then.

So either I need to spend money to renovate a little here and there within the current house, or get a new place with proper planning and reno done once and for all.

Like you say, a unit that the family can stay for the next 10-20 years.

Decisions decisions decisions...
 
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