OLA EC @ Anchorvale

[K|muRa^84]

That's why i say the whole EC system is flawed. They restrict the income at 16k/mth but never question where the couple come up with the money to downpay for the 2+ million condo.

It is obviously parent's money, meaning this couple, even though they are earning at most 16k/mth, have more capital elsewhere which makes this 16k/mth gauge as a couple's wealth pointless.

not to mention MSR 30%

 

[shadow84]

That's why i say the whole EC system is flawed. They restrict the income at 16k/mth but never question where the couple come up with the money to downpay for the 2+ million condo.

It is obviously parent's money, meaning this couple, even though they are earning at most 16k/mth, have more capital elsewhere which makes this 16k/mth gauge as a couple's wealth pointless.

Maybe govt point is to only allow those who can afford it to get it? Its like a sandwich being limited by top and btm. Those that cant afford wun nt be able to go within this sandwich range.

 

[YHLiang]

Yea i am saying the land bids came in way before Government increase the income ceiling for ECs. So you cant say the developers bid like that because the income ceiling was raised.

Is there a reserve amount? I meant bid lower than a certain amount, government can dun sell the land?

 

[Passerboy]

Is there a reserve amount? I meant bid lower than a certain amount, government can dun sell the land?

Yup it happened before when UOL bid pretty low for a PLB site in 2011, believe this is the current PPR site, relaunched in 2015 won by Lendlease. Win win situation, since it was previously offered as a smaller plot, else the PLB today might not have taken shape.

https://singaporepropertyhighlights.wordpress.com/2011/11/05/sharp-reply-rejected-bidder-paya-lebar-site/

 

[YHLiang]

Yup it happened before when UOL bid pretty low for a PLB site in 2011, believe this is the current PPR site, relaunched in 2015 won by Lendlease. Win win situation, since it was previously offered as a smaller plot, else the PLB today might not have taken shape.

https://singaporepropertyhighlights.wordpress.com/2011/11/05/sharp-reply-rejected-bidder-paya-lebar-site/

Sighz, next next generation duno how.
one day might become HK. All private build liao

 

[saggice]

yeah it’s really quite obvious.
if income ceiling is 16K, how to afford it.

That's why i say the whole EC system is flawed. They restrict the income at 16k/mth but never question where the couple come up with the money to downpay for the 2+ million condo.

It is obviously parent's money, meaning this couple, even though they are earning at most 16k/mth, have more capital elsewhere which makes this 16k/mth gauge as a couple's wealth pointless.

 

[momoeagle]

That's why i say the whole EC system is flawed. They restrict the income at 16k/mth but never question where the couple come up with the money to downpay for the 2+ million condo.

It is obviously parent's money, meaning this couple, even though they are earning at most 16k/mth, have more capital elsewhere which makes this 16k/mth gauge as a couple's wealth pointless.

Not impossible. Have a friend who earned a few multiples of 6 figures from flipping industrial properties earlier.

And it really depends on how you go about the legal loopholes, that would make 12k~16k/mth a moot point. I will stop at here.

 

[Clazav]

Gov sets a few guidelines, like 16k ceiling, sell within 5 years, 30% msr, max 75% loan, resale levy for 2nd timer, all these are considered by developers when they bid for the land. So gov expects the developers have a sound mind and not over bid. On the other hand, developers are hoping that buyers do not have a sound mind.

That's why i say the whole EC system is flawed. They restrict the income at 16k/mth but never question where the couple come up with the money to downpay for the 2+ million condo.

It is obviously parent's money, meaning this couple, even though they are earning at most 16k/mth, have more capital elsewhere which makes this 16k/mth gauge as a couple's wealth pointless.

 

[holasingapura]

Not sure if mentioned before but just found out that Evia+Gamuda also developed GEM residence in Toa Payoh tgt. Now I recall the widespread adverts of GEM on radio too...

”Launched in 2016, this Green Mark-certified private condominium has a gross development value of S$690mil (RM2.086bil). It is located at the junction of Lorong 6 and Lorong 4 in Toa Payoh. The two towers, which are well into construction now, offer a total of 578 units with built-ups from 425sq ft to 2,045sq ft with selling prices from S$570,500 to S$2.1mil. There are nine layouts ranging from 1 to 5-bedroom units, duos (dual-key units), trios (triple-key units), a 4-bedroom penthouse and a 6-bedroom penthouse.”

GEM 2ksqft 6 bedder penthouse at Toa Payoh almost same price as OLA penthouse? Is OLA an EC? And I thought the 5 bedders usually lower psf for ordinary condos like OLA? Why 5bedder psf so high?

 

[holasingapura]

After having a quick look at listings of other penthouses/ 5 bedders in the area, I can safely say that the 3 buyers of OLA EC’s “penthouses” are real stupid/ newbies and got controlled by their emotions / conned by agents.

These 3 are better off forfeiting their option fee ASAP. Hope they are able to see my kind advice.

 

[windwaver]

Do you guys feel stressed???? Economy is in the dumps

If you're overly leveraged; yes.

 

[windwaver]

My exact thinking. Don't get me wrong, I think $1.2k psf for OLA is pretty astronomical for an EC, but when I was buying one few yrs back, there's also the usual doomsayers who go around shouting that $700/psf is murder pple kill fire, recession coming la, everybody gonna lose yr jobs la bla bla bla. Fast forward few yrs later, we have EC launching at $1.2k psf... Duno happy or sad haha..

Reminds me of Treasure Crest

 

[windwaver]

parents had to help with downpayment in return for staying with son and daughter in law

And quarrel daily until divorce rates go north?

 

[momoeagle]

After having a quick look at listings of other penthouses/ 5 bedders in the area, I can safely say that the 3 buyers of OLA EC’s “penthouses” are real stupid/ newbies and got controlled by their emotions / conned by agents.

These 3 are better off forfeiting their option fee ASAP. Hope they are able to see my kind advice.

Assuming no "honest mistakes" by developer.

Cant imagine 10 people forfeiting booking fee on the day itself. 177 vs 167

 

[zero_hero]

Assuming no "honest mistakes" by developer.

Cant imagine 10 people forfeiting booking fee on the day itself. 177 vs 167

No OTP = no forfeiture

 

[shadow84]

No OTP = no forfeiture

167 ppl logged into caveat means 167 ppl sign OTP liao.

 

[momoeagle]

After having a quick look at listings of other penthouses/ 5 bedders in the area, I can safely say that the 3 buyers of OLA EC’s “penthouses” are real stupid/ newbies and got controlled by their emotions / conned by agents.

These 3 are better off forfeiting their option fee ASAP. Hope they are able to see my kind advice.

it's called

"buy for own stay, happy most important. Money is secondary"

and

"everyone has their own circumstances, preferences and belief. It's only expensive if you think it is."

and finally

"statistics from URA and SRX shows that buy EC 100% earn. Data from URA ah gong, not from me hor"

Combo together to sell it

 

[momoeagle]

No OTP = no forfeiture

ok. So the figure of 177 posted by someone earlier must be fake then.

 

[Polar Bear King]

ok. So the figure of 177 posted by someone earlier must be fake then.

how to check if OTP officially signed?
does the developer have to scan and email URA records of the OTP and the cleared cheques?

otherwise developer can just paste sold sticker on random units and self-claimed "sold" X units wor

 

[reyorz]

I cant find OLA EC on URA caveat - only Ola residences.