PARC ESTA - THREAD

[bjory]

Yea for resale wise, the price are cheaper than newly launch ones. Plus mine was a tenanted unit! I get the income property straightaway! Well, remaining two Months rents , not too bad too. Rental yield gross was 3.9% for mine.Plus the owner let go the unit fully furnish! I just move in with my luggage only lo. I bought for my own stay actually.

Yes, for new launch back then 1 bedder so fast sold out le. My last balloting was Twin Vew, walao only got 1 stack of one bedder. But that’s fine, in the end I got a good resale unit.

Can share or PM me which is the resale unit you bought?

 

[NiShiZhu]

Can share or PM me which is the resale unit you bought?

I Guess he bought Parc rosewood. Don’t forget, this project 1 bedder is an outlier case as it’s price only starts at 398k. (One of the cheapest in Singapore) So as a 2nd buyer, he still may have some profit margin to begin with. Not all resale Have such luck.

Many are holding on a resale unit that takes them a decade to repent.
Likewise for new launch, if buy at wrong price, same situation.

 

[1993newbie]

Yay! Good observation! Yea, love the north part of SG lah.

I frequent JB so it’s easier for me now. Either drive in or take direct bus from Rosewood bus stop to Woodlands Train station. My parents stays in Bukit Panjang. Easy bus ride to my place too.

Up north many halal foodies hence damn good for me and my family. They staycation over my place every weekend. Enjoying the 10 pools here.

Looking forward to the new Thomson line to open end of the year. Next year will open all the way to Caldecott station. The Woodlands new station entrance not too far from rosewood area too. 1 bus stop away from side gate of Casablanca condo Or a 5-7 mins walk to the new station entrance.

I was contemplating between flora area n Parc since both around same entry point. But gosh! I don’t even know where I am when I step foot into flora. I’m a west north kid all my life. East is a no no to me.

All and all, Woodlands not bad le. Can get seat in the morning on red line. Hahaha

I Guess he bought Parc rosewood. Don’t forget, this project 1 bedder is an outlier case as it’s price only starts at 398k. (One of the cheapest in Singapore) So as a 2nd buyer, he still may have some profit margin to begin with. Not all resale are the same.

 

[1993newbie]

Yea, first owner bought my unit at Low 400k. I bought it at Low 500k. Well, let’s see what the future will hold for Woodlands. Woodlands are not sought after by many tho. No one talk about up north properties.

I Guess he bought Parc rosewood. Don’t forget, this project 1 bedder is an outlier case as it’s price only starts at 398k. (One of the cheapest in Singapore) So as a 2nd buyer, he still may have some profit margin to begin with. Not all resale Have such luck.

Many are holding on a resale unit that takes them a decade to repent.
Likewise for new launch, if buy at wrong price, same situation.

 

[captain huat]

This part I don’t agree.
Park colonial has its own attributes and potential.
Next to mrt, 1 stop away to Serangoon central with mega mall, few stops to Dhoby Ghaut, next to a sizeable mall, next to international schools, and the environment there is quite pleasant to stay. There will also an underground bus interchange across the road. It’s a city fringe project with no lack of transport for good accessibility. What else more u can ask for? For that price of 17xxpsf, I feel is justifiable. Figures don’t lie, it is selling reasonably well due to various attributes.
If twin vew can sell at 15xxpsf, I don’t think park colonial price is ridiculous. I visited the SF and I must say the furnishing, location, layout is very efficient.

Woodleigh at 2xxxpsf people are still not ready to digest yet because there are better options elsewhere like park place residence at similar psf and is deem to have more potential compared to woodleigh. No need further elaboration on that.

I’m always open for buyers to look at resale instead of new launches (provide its worth it). Not every resale is good. After years of experience, I noticed there’s always a limitation in profit gain when the resale was passed on to 2nd buyer. Basically 3rd buyer for resale will suffer the most because they usually paid a higher price than previous owner but holding on a resale with a lease that left the lowest.

Let me quote an example.
Kovan melody 2 bedder was launched at 490k, my fren sold it at 1.08mil to 2nd buyer a few years ago. Look at the recent transaction, it barely cross 1.04mil after so many years. I pity the 2nd buyer.

I try to understand y the second buyer is willing to pay at 1.08mil for a Two bedder unit in Kovan melody. It is probably because stars of Kovan 2 bedder is priced around 1.2x mil at that time and it’s size is also smaller than Kovan melody. Thus, the buyer who paid 1.08mil may think he got himself a good deal by comparing to new launch like stars of Kovan.

If go by your logic, is the 2nd buyer better of in buying resale? With the stamp duty plus the price he paid, he is still holding a negative asset.

What’s the moral of the story? If u buy a new project at the right price, right location, u have the first buyer advantage. I have bought both resale and new project before, thus I am able to comment on this. Recently I just sold my terrace to my 3rd buyer, the last transaction done by another similar unit see a 200k drop. I’m worried for my buyer because I dunno how many years he would take to break even the price he paid for my unit.

ask u ar nishizhu.

what do you think of this transaction as below. do you think its a good or bad purchase from the buyer point of view.

HIGHLAND CONDOMINIUM HIGHLAND ROAD Condominium 19 OCR Freehold Resale 1 1,700,000 - 1,851 Strata - 918 Feb-19

highland condo and kovan melody is actually not very far apart. its a 10min walk.

but 918 per squarefeet for a freehold condo. of course quantum is a bit high thus the lower squarefeet.

but is it a good bargain from buyers side, or a good selling price from seller side.

 

[NiShiZhu]

Yea, first owner bought my unit at Low 400k. I bought it at Low 500k. Well, let’s see what the future will hold for Woodlands. Woodlands are not sought after by many tho. No one talk about up north properties.

Haha sometimes beginner’s luck is important.
Don’t worry, u got yourself a good deal for this resale unit. Congrats.
But not many resale buyers are lucky.

 

[NiShiZhu]

ask u ar nishizhu.

what do you think of this transaction as below. do you think its a good or bad purchase from the buyer point of view.

HIGHLAND CONDOMINIUM HIGHLAND ROAD Condominium 19 OCR Freehold Resale 1 1,700,000 - 1,851 Strata - 918 Feb-19

highland condo and kovan melody is actually not very far apart. its a 10min walk.

but 918 per squarefeet for a freehold condo. of course quantum is a bit high thus the lower squarefeet.

but is it a good bargain from buyers side, or a good selling price from seller side.

Before I take on your question, let me ask u.
From the past Two years till now, we only see one transaction.
Do u find it obscure? Ask yourself, is it no demand or is it no one wants to sell? It’s a small development anyway
This condo should be TOP in the 90s and it’s like near 30 years old)though FH status. U got check out the maintenance fee? Are u prepared to do a major makeover?
Pass years rental records shows $2900 for a 1.7mil property. Justifiable or not?
These are the question u should ask yourself.

I’m not familiar with this project though. Maybe annetyu can answer u better since she stayed that area before.
Kovan melody, Kovan residence was one of my house hunting option in 2005 so I’m more familiar with these projects.

 

[1993newbie]

Xie Xie ni!

So far only one unit at Parc Rosewood that has changed hand thrice. A 1 bedder PES unit. 506sqft.

1st owner> $482k , 2012
2nd owner> $588k , 2014
3rd owner> $650k , 2019

As of now, my unit valuation has went up by 5% within 5 months of purchase.

Haha sometimes beginner’s luck is important.
Don’t worry, u got yourself a good deal for this resale unit. Congrats.
But not many resale buyers are lucky.

 

[captain huat]

Before I take on your question, let me ask u.
From the past Two years till now, we only see one transaction.
Do u find it obscure? Ask yourself, is it no demand or is it no one wants to sell? It’s a small development anyway
This condo should be TOP in the 90s and it’s like near 30 years old)though FH status. U got check out the maintenance fee? Are u prepared to do a major makeover?
Pass years rental records shows $2900 for a 1.7mil property. Justifiable or not?
These are the question u should ask yourself.

I’m not familiar with this project though. Maybe annetyu can answer u better since she stayed that area before.
Kovan melody, Kovan residence was one of my house hunting option in 2005 so I’m more familiar with these projects.

lets say its for own stay la and not for rental.
minimum have to stay for 12years due kids primary school nearby.

if i chance upon a freehold old resale unit inside kovan landed at less than 1K psf, is it a good buy?

even for major revamp, at lets say 200K la, we are looking at 1100psf in total.

do you think at your opinion which is more worth while still.

buy a old resale with 200K reno budget to have a newly renovated freehold at (1100-1150psf) 10mins walking distance to kovan MRT?

or

buy a resale at kovan melody (not inclusive of reno budget yet) to have a non renovated 99 year old (1200psf) property but kovan mrt at your door step.

for argument sake,
a) lets put the monthly maintenance at 450 average for High land Condo and 200 for Kovan Melody.

b) I am buying from own stay and intend to stay at least 12 years minimum.

 

[Clazav]

Yes it depends on many things. But when I say this, I'm not saying in current market. It will take the gov some time to eventually launched the plot beside nex. At least after Kovan plot is launched.

Honestly, No one knows.
If two years ago, I came here and tell everyone that woodleigh residence site is going to launch 2xxxpsf in near future, Im sure everyone here will mock at my stupidity.
If In the near future Serangoon central site really launch at 2kpsf, don’t u think affinity buyers will be laughing all the way to the bank?

U see, even those buyers who adopt the wait and see attitude sometimes doesn’t benefitted much from the waiting. Who would expect the latest CMs also target the first time buyers and Kenna punished by reducing from 80%LTV teduced to 75%LTV. This 5% difference is a substantial amount for first time buyer.

I’m neither a bull or a bear, I like to study past history and trends, I like to learn from mistakes so I won’t repeat them again.
Property investment is basically summarized in 3 words, 天时(timing) 地理 (location) 人和 (buying sentiments/market force)

 

[NiShiZhu]

lets say its for own stay la and not for rental.
minimum have to stay for 12years due kids primary school nearby.

if i chance upon a freehold old resale unit inside kovan landed at less than 1K psf, is it a good buy?

even for major revamp, at lets say 200K la, we are looking at 1100psf in total.

do you think at your opinion which is more worth while still.

buy a old resale with 200K reno budget to have a newly renovated freehold at (1100-1150psf) 10mins walking distance to kovan MRT?

or

buy a resale at kovan melody (not inclusive of reno budget yet) to have a non renovated 99 year old (1200psf) property but kovan mrt at your door step.

for argument sake,
a) lets put the monthly maintenance at 450 average for High land Condo and 200 for Kovan Melody.

b) I am buying from own stay and intend to stay at least 12 years minimum.

Yo bro, let me clarify myself first, I’m not a Property Agent so I may not be very well informed of all projects hor. Its just that recently I quite free so come here and talk cock sing song only. I will go back as a silent reader once my work starts to get me busy.

Can ask u the following qns first?

1) roughly what size/how many bedders u r looking at?
2) what’s your Budget?
3) u die die want FH or u r open to LH also can?
4) new launch or resale doesn’t matters to u right?
5) are u looking for capital gain after 12 years or u dun mind even price remain flat after 12 years?

Ok just to share one of my very bad experience when I accompany my Brother in law for house hunting at one of the freehold apartment 12 years ago (Kovan area). He also like u, die die want FH Kovan area condo cos he has been staying in Hougang ave 8 for many years.
Because the incident was so Long already, I really couldn’t even remember the condo name.

It was a evening house visit to a 3 bedder FH old condo at Kovan area. It’s a small development like highland condo.
When first walk in, first thing we saw is a small pool with lots of algae residing at the side of the Swimming pool. The pillars and walls have paints all peeling off. Taking the lift up to the unit, the lift got a foul smell. When reach the unit, to my shock, the condition was worse than a 30 year old HDB. As it was at Kovan/Simon road camp that area, there’s basically no nice view to talk about. In front there’s a big tree blocking it’s view. The house condition was bad. Less than 5 minutes, we decided to walk out immediately.

Imagine, if your highland condo has reached its 30 years lease this year and u gonna stay for another 12 years, that would mean your condo is a 42 year old condo. U think what are the chances pple will buy from u despite its FH status? I’m more convern u may have difficulty selling in future. So even this kind of project want to sell my bro in law for 900psf, I think he also sian 1/2.

Actually I’m not inclined to give u any specific recommendation or suggestions here because this is a forum afterall and it’s too much of a responsibility for someone whom u dunno in forum to give u any advice. Seriously, u have to do your due diligence and make comparison.
U must always put yourself in the shoe of your next buyer, will he buy from u or not?

 

[captain huat]

Yo bro, let me clarify myself first, I’m not a Property Agent so I may not be very well informed of all projects hor. Its just that recently I quite free so come here and talk cock sing song only. I will go back as a silent reader once my work starts to get me busy.

Can ask u the following qns first?

1) roughly what size/how many bedders u r looking at?
2) what’s your Budget?
3) u die die want FH or u r open to LH also can?
4) new launch or resale doesn’t matters to u right?
5) are u looking for capital gain after 12 years or u dun mind even price is flat after 12 years?

Ok just to share one of my very bad experience when I accompany my Brother in law for house hunting at one of the freehold apartment 12 years ago (Kovan area). He also like u, die die want FH Kovan area condo cos he has been staying in Hougang ave 8 for many years.
Because the time was so Long already, I really couldn’t even remember the condo name.

It was a evening house visit tona 3 bedder FH old condo at Kovan area. It’s a small development like highland condo.
When first walk in, first thing we saw is a small pool with lots of algae residing at the side of the Swimming pool. The pillars and walls have paints all peeling off. Taking the lift up to the unit, the lift got a foul smell. When reach the unit, to my shock, the condition was worse than a 30 year old HDB. As it was at Kovan/Simon road camp that area, there’s basically no nice view to talk about. In front there’s a big tree block it’s view. Last than 5 minutes, we decided to walk out immediately.

Imagine, if your highland condo has reached its 30 years lease this year and u gonna stay for another 12 years, that would mean your condo is a 42 year old condo. U think what are the chances pple will buy from u despite its FH status? I’m more worried u have difficult selling in future.

Haha u have ur point too la.

But if i stay in the house for 30 years or pass to my kids when i passed on 50-60years down the road.

My buying price of a freehold at 950psf vs current pple who purchase 99year old kovan melody at 1200psf.


Who is in a better position in yr opinion to sell leh?

Anyway, for me, i really like small boutique low rise condo. So i can really imagine mtself staying at such old condos. Less pple and very quiet.

Not all old condos are that bad la. For the matter, highland condo exterior is not that bad also as i just played poker in there recently.

Which comes to another debatable topic. 99 year vs freehold.

Sorry ar. I see u very knowledgeable.
Want to learn from u.

Dun mind i just want more constructive views from pple like u.

U can dun entertain me if u find me annoying

 

[NiShiZhu]

Haha u have ur point too la.

But if i stay in the house for 30 years or pass to my kids when i passed on 50-60years down the road.

My buying price of a freehold at 950psf vs current pple who purchase 99year old kovan melody at 1200psf.


Who is in a better position in yr opinion to sell leh?

Anyway, for me, i really like small boutique low rise condo. So i can really imagine mtself staying at such old condos. Less pple and very quiet.

Not all old condos are that bad la. For the matter, highland condo exterior is not that bad also as i just played poker in there recently.

Which comes to another debatable topic. 99 year vs freehold.

Sorry ar. I see u very knowledgeable.
Want to learn from u.

Dun mind i just want more constructive views from pple like u.

U can dun entertain me if u find me annoying

Haha don’t worry la bro, u r not annoying la, just that buying house is a big commitment and I scared I gave u wrong advice since I dunno the project well. If I dunno something, I don’t like to act and pretend as if I know.
Furthermore different pple different strategy. Different enter and exit plan.

Singapore is still a relatively young nation. I have no historical data or reference point to predict what will happen 50-60 years down the road.

If only one transaction seen in highland condo after a GAP of so many years, I probably won’t touch this project.

Kovan melody was launch ard 5xxpsf back in 2005 and is now reaching 1200psf. I think it’s about time this condo has reached its cap Liao. It’s a 15 year condo afterall. In years to come, the lease left will be lower.
Unless Kovan area has any major rejuvenation plan in the coming years. Then it’s another story.

Of cos if u really like highland condo, go for it since it satisfy most of your needs. On the bright side, Kovan has many nice good food and Heartland Mall and next to mrt.
Of cos, FH condo retains value better than LH in the Long run. But u also need to factor in other cost like maintenance fee, major make over, repair work etc.
My prediction is price will remain flat for this project as it may be challenging to find buyers who don’t mind a 42 year condo (assuming u r staying for the next 12 to 15 years).
And not forgetting there are many condos (including FH ones) around Kovan areas.
Just my two cents.

U can wait for annetyu to advice u, I’m sure she knows that area better than me.

Wish u luck bro.

 

[captain huat]

Haha don’t worry la bro, u r not annoying la, just that buying house is a big commitment and I scared I gave u wrong advice since I dunno the project well. If I dunno something, I don’t like to act and pretend as if I know.
Furthermore different pple different strategy. Different enter and exit plan.

Singapore is still a relatively young nation. I have no historical data or reference point to predict what will happen 50-60 years down the road.

If only one transaction seen in highland condo after a GAP of so many years, I probably won’t touch this project.

Kovan melody was launch ard 5xxpsf back in 2005 and is now reaching 1200psf. I think it’s about time this condo has reached its cap Liao. It’s a 15 year condo afterall. In years to come, the lease left will be lower.
Unless Kovan area has any major rejuvenation plan in the coming years. Then it’s another story.

Of cos if u really like highland condo, go for it since it satisfy most of your needs. On the bright side, Kovan has many nice good food and Heartland Mall and next to mrt.
Of cos, FH condo retains value better than LH in the Long run. But u also need to factor in other cost like maintenance fee, major make over, repair work etc.
My prediction is price will remain flat for this project as it may be challenging to find buyers who don’t mind a 42 year condo (assuming u r staying for the next 12 to 15 years).
And not forgetting there are many condos (including FH ones) around Kovan areas.
Just my two cents.

U can wait for annetyu to advice u, I’m sure she knows that area better than me.

Wish u luck bro.

Noted bro.

Mlmlwml on annetyu.

I feel her views are very prejudiced. Not objective enough.

No offense hor grandma annetyu.

But u everyday shout crash crash crash. Wish all good luck.

I very scared of u liao grandma annetyu.

Cheers

 

[annetyu]

Noted bro.

Mlmlwml on annetyu.

I feel her views are very prejudiced. Not objective enough.

No offense hor grandma annetyu.

But u everyday shout crash crash crash. Wish all good luck.

I very scared of u liao grandma annetyu.

Cheers

I have never wanted the market to crash. All I have said, in summary, is that new launch prices are unreasonable. Does not represent a gradual appreciation based on economic fundamentals at all. My views can be accurately summed up by MAS MD Ravi Menon - https://www.straitstimes.com/business/economy/euphoria-in-singapore-property-market-calls-for-caution-mas-chief If you don't trust grandma, at least listen to Mr Menon.

Not sure why all of you are against poor grandma when I am being so objective. Just take a look at new launch prices in 2016/7 and compare it with 2018 and observe the 20-40% difference then you will understand what grandma has been saying so many times.

Regarding Kovan melody, I purchased a 3 bedder during launch and have made a handsome profit selling 2 years ago. Unblocked view of swimming pool, heartland mall and far distance. Back then, it was marketed towards HDB upgraders. Maintenance was $270 per month. I like the area a lot, being on the private side of Kovan mrt. However, I have shifted to Serangoon because the property is aging and really looks dated. It is one of the last few condos to have bay windows. Regarding your freehold recommendation, perhaps it will get en bloc in the next cycle. Good luck.

 

[NiShiZhu]

I have never wanted the market to crash. All I have said, in summary, is that new launch prices are unreasonable. Does not represent a gradual appreciation based on economic fundamentals at all. My views can be accurately summed up by MAS MD Ravi Menon - https://www.straitstimes.com/business/economy/euphoria-in-singapore-property-market-calls-for-caution-mas-chief If you don't trust grandma, at least listen to Mr Menon.

Not sure why all of you are against poor grandma when I am being so objective. Just take a look at new launch prices in 2016/7 and compare it with 2018 and observe the 20-40% difference then you will understand what grandma has been saying so many times.

Regarding Kovan melody, I purchased a 3 bedder during launch and have made a handsome profit selling 2 years ago. Unblocked view of swimming pool, heartland mall and far distance. Back then, it was marketed towards HDB upgraders. Maintenance was $270 per month. I like the area a lot, being on the private side of Kovan mrt. However, I have shifted to Serangoon because the property is aging and really looks dated. It is one of the last few condos to have bay windows. Regarding your freehold recommendation, perhaps it will get en bloc in the next cycle. Good luck.

In 2005, 3 bedder Kovan melody was launched around 650k, really miss those days.

 

[Clazav]

This also depends on the floor plan of Highland condo. Whether is there a lot of waste space. If there are many bedrooms and the area is effective, we also need to see whether many years down the road, will anyone prefer to buy such a big house? But of course if you are aiming to en bloc, that will be quite attractive too.

ask u ar nishizhu.

what do you think of this transaction as below. do you think its a good or bad purchase from the buyer point of view.

HIGHLAND CONDOMINIUM HIGHLAND ROAD Condominium 19 OCR Freehold Resale 1 1,700,000 - 1,851 Strata - 918 Feb-19

highland condo and kovan melody is actually not very far apart. its a 10min walk.

but 918 per squarefeet for a freehold condo. of course quantum is a bit high thus the lower squarefeet.

but is it a good bargain from buyers side, or a good selling price from seller side.

 

[desboo]

This Parc Esta thread is so quiet....

Any feedback on this developer’s track record in terms of build quality and defect rate?

 

[Passerboy]

This Parc Esta thread is so quiet....

Any feedback on this developer’s track record in terms of build quality and defect rate?

The quality of the project seems very grand; given the specifications used. The full height glass window looks awesome imo. The location also seems ideal (just across Eunos MRT) and is one mrt stop away from Paya Lebar regeneration plan, and pretty close to Katong and East Coast.

 

[zinedine]

This Parc Esta thread is so quiet....

Any feedback on this developer’s track record in terms of build quality and defect rate?

If they lower their price, this thread will be alive!

I am keen in Parc Esta but I am not keen to pay $1800psf for it...