Parc Greenwich EC

[skpuppy]

What MRT line is this ?

Ok. Let us try to see with data:
(1) Since you drive.
Ola to Suntec - 18 min (KPE) vs Parc to Suntec - 19 min (CTE)
Ola to Orchard Gateway - 25 min vs 19 min to Parc
Ola to Changi Airport - 15 min vs 20 min for Parc
Ola to East Coast - 17 min vs 23 min for Parc
Ola to West Gate - 35 min vs 29 min for Parc
Ola to Woodlands checkpoint - 20 min vs 18 min for Parc
Ola and Parc to both VivoCity - 25 min

Actually not big difference one la. Don’t listen to the BS of property strategists. That is why many kana smoke. Wow! Parc u turn here TPE, turn there, CTE. Every driver know CTE is the place to avoid

For MRT, I don’t need to explain now. Future is future

(2) School I think on par. If you want to argue about Nan Chiau vs Rosyth, I think if u can’t get into one, u can’t get into the other. Rosyth got many alumnis who are doctors, lawyers etc…Strangely I saw master plan and the land around Ola is marked as education and the plot is huge. Not sure what is that

(3) For developer, Yes! Fraser have better track records. But all got chance of going bankrupt one huh. Don’t misunderstand track records for invincibility (although chances very remote). Evergrande the 2nd largest property developer in China is one example

(4) Surrounding. Quite subjective according to your argument. Rich ppl also go government hospital one. Singapore healthcare is ok one la. We r not staying in India. Why pay $300k when u can settle ur surgery with $30k? You didn’t consider the doctors working in hospitals also. They not really sick chicken. Landed property does not mean got no low class ppl also so I think bias to say hospital must be a lot of old and sickly. Rich, handsome and young don’t go hospital?

(5) TOP and future is subjective. For me, if you want to buy a new house, try not to go for properties that will take a long time to build. Covid19 may change a few things. First, labour cost will continue to increase (labour shortage also). Second, material cost may continue to increase also. Third, interest may also increase (before TOP cannot go fixed rate. If interest up then you die very ugly). It is not about whether resale or not. If you don’t mind old condo, I will really recommend old condo. Less uncertainty. Of course if you are comfortable about uncertainty, then no problem also. If covid19 gets worst and project continue to delay, you kpkb also no use. Renovation cost goes to the roof also need to renovate else how to stay? Of course there is also a possibility of raw materials crashing and you renovate cheaply but very remote chance. Every country is taking this opportunity to build infrastructure. I foresee price to go up in next few years before it dips again.

 

[Passerboy]

My conclusion after looking at Ola & Parc Greenwich.

Parc Greenwich if u drive, Ola if u don’t drive

Ola is not near to the mrt either, I thought both PG and Ola are pretty similar for non drivers. Non drivers can consider Provence instead perhaps?

 

[CaptainSGP]

Ola is not near to the mrt either, I thought both PG and Ola are pretty similar for non drivers. Non drivers can consider Provence instead perhaps?

It’s beside Cheng Lim LRT. Much harder to get around at PG without car. 1 point not often discussed is that the new North South expressway will reduce congestion at CTE, which will benefit PG.

I think the discussion is btw SengKang area ECs. Sembawang/Canberra is not really of interest to most here

 

[Passerboy]

It’s beside Cheng Lim LRT. Much harder to get around at PG without car. 1 point not often discussed is that the new North South expressway will reduce congestion at CTE, which will benefit PG.

I think the discussion is btw SengKang area ECs. Sembawang/Canberra is not really of interest to most here

Yeah somehow it seems no one like Sembawang haha.. Anw for that area can consider Piermont Grand too! But I think more or less finish selling.

 

[Senayan]

Reading from all these, you must be a buyer of Parc. Lol! Good for you

He bought there, that's the reason why you can tell from his assessment, his view is not as objective and fair like you. His assessment is trying to hard just to convince himself that he made the right choice. Usually this type of behaviour found in people who are insecure, maybe he a bit regret buying kena scammed by the busy noisy dusty road view

 

[Senayan]

This fluxos guy full of crap, can loan 75% of 1.8M which is 1.35M based on income? Buy condo maybe, ec confirm cannot

 

[fluxos]

This fluxos guy full of crap, can loan 75% of 1.8M which is 1.35M based on income? Buy condo maybe, ec confirm cannot

Senayan such a noob in property. Frog in a well mindset, thinks he is very knowledgable but infact empty vessel. Don't even know basic financing. Go figure it out yourself.

 

[rockmillion]

I am vested indeed. I got a unit with nearly unblocked views, you can see all the way to the CBD unblocked and even fireworks at marina bay. You can't compare that to hospital view or other condo/hdb view at Ola....

Also, for the person who keeps saying msr msr msr. I got AIP for 75% loan for 1.8million even with MSR.

**Not related with OLA vs PGw **

MSR is really issue maybe not for you but for the majority it is. If someone cash rich they can buy anything (landed, bungalow etc) depends on how cash rich they are. For normal folks arranging 25% +BSD is already a tough task for new launches forget about show funds. If you have done IPA for EC with show funds you may already know its almost $1 to $1 (depends on income level), so if the gap between approved loan and required loan is more than 200K-300K or higher how to arrange so much cash to keep in your account specially for new launch where the cash holding duration can be 6 month +

If someone take personal loans etc for show funds, banks have the right to reject home loan at the time of disbursement due to personal loan obligations. A normal folk is not comfortable to take that risk which is not in line with MAS and banks regulations .

In case of FD, not a good feeling to lock your cash with such pathetic FD rates. Then again if have surplus cash then can buy anything depends on cash amount someone have.

 

[rockmillion]

This fluxos guy full of crap, can loan 75% of 1.8M which is 1.35M based on income? Buy condo maybe, ec confirm cannot

There are ways with show funds, FD and maybe stocks.

But must be cash rich, or parents cash rich, or risk taker (Agains MAS rules) by getting personal loans from few banks to show funds.

 

[skpuppy]

This fluxos guy full of crap, can loan 75% of 1.8M which is 1.35M based on income? Buy condo maybe, ec confirm cannot

I won’t say totally impossible but maybe a fraction chance

(1) 1.8mil property which means $1.35mil
(2) Assuming income ceiling max and 30 years loan
(3) Maximum quantum is $1.05mil at most.

Well, unless your bonus is like 8-10 months a year. Maybe u can hit $1.35mil but I think super difficult also. Wont say 0% but very remote

 

[Entity]

There are ways with show funds, FD and maybe stocks.

But must be cash rich, or parents cash rich, or risk taker (Agains MAS rules) by getting personal loans from few banks to show funds.

the basic income limit MSR mortgage will be about 1M. maybe bonuses here and there will bump it up a little for norm couples, how much to show to get 1.8M? don’t sound realistic

anyway the other possibility i can think of is business owner drawing directorship fees, no basic. not sure how that works but definitely not norm

 

[Senayan]

Thanks for your assessment, not disagreeing with you here but everyone's assessment is different based on their personal needs and situation.

So here's mine biased view:
Location - Parc Greenwich wins, I drive - it is beside CTE and TPE, proximity is nearer to town as well. With North South Corridor coming, CTE is going to get much better, Ola's access to TPE is shared by Punggol and East SK, it is quite jammed up. Ola's LRT to a NE line is useful, but only useful I want to go to the stops on the NE line, which is rare for me. Most of my frequent places are on the red line instead. Anyway, I drive and the wife taxi every single time. I live on top of an MRT currently but the wife just taxi only.

Primary Schools - Parc Greenwich has 2 average primary school within 1KM, and 5 average schools with 1 very good (Rosyth) within 1-2KM. Ola's Nan Chiau is a double edged sword. It is so popular that getting in is super difficult... in 2019, balloting to get into the school were 235 applicants eyeing 61 slots, all within 1KM. 25% chance only...

Developer - Parc Wins with Fraser.

Surrounding - Parc Wins for sure, i love Seletar Mall and dislike Compass One. Parc low density area and surrounding is serene with many atas folks. Ola is beside the hospital with many old and sickly, It is a very high density estate.

TOP date - non-factor... if it really matters just go resale?

Future appreciation potential - Parc Wins. For Ola, there is a oversupply situation there in my opinion, less so for Parc Greenwich. Parc Greenwich has many plots of land surrounding it prime for development and when it MOP, ,there is likely a MRT almost ready nearby. If that happens then all buyers huat big time. The feasibility study of the MRT is meant to be concluded this year, so the announcement is coming soon....

Fluxos you are trying too hard,

Talking about location for majority ola is already win hands down. Its nearer to mrt Station. Location location location. For the same distance you walk to Seletar mall. Its only a mall. Walking the same distance from ola you can reach a mall and a mrt station(be it red purple green line) near mrt will command higher price. And of course the nearer the better and higher value eg esparina

Surrounding by atas ppl make you atas? Money can't buy you class.
Don't look down on old and sick people. One day you will be there. Sometime 5 mins can be a matter of lives or death. Don't look down on hospital. When you sick try to walk around the atas people landed enclave seen whether you can get better or not? Maybe you will lol

Low density doesn't mean it will be less congested. Not every condo or hdb owner will own a car, but landed property owner most of the time will have at least 1, sometime 2 or 3 cars, it might be more congested given the fact location is further from mrt, more homeowner there (hdb/ec/condo/landed) will be enticed to buy car. Traffic could be worse

 

[rockmillion]

the basic income limit MSR mortgage will be about 1M. maybe bonuses here and there will bump it up a little for norm couples, how much to show to get 1.8M? don’t sound realistic

anyway the other possibility i can think of is business owner drawing directorship fees, no basic. not sure how that works but definitely not norm

Yes i discussed before in this thread. SME owners can even buy BTO with >300K annual income but basics just show below 4K enough already. All other income just get as director fee.

HDB allow them to buy BTO based on basic salary but no grant based on NOA.

Bank consider 70% NOA amount for loan calculations and don't consider basic salary for this group.

 

[Senayan]

Senayan such a noob in property. Frog in a well mindset, thinks he is very knowledgable but infact empty vessel. Don't even know basic financing. Go figure it out yourself.

That's why I said based on income it's. Impossible. Unless show funds or fixed deposit. Like many mentioned here. How many can do that. That's precisely the reason why PGW sales is better, the unit is smaller and majority of the units are selling below 1.45M. This one just nice to fit majority of the potential buyer within income ceiling and no help from parents. Not like some spoilt brat who just anyhow shoot his mouth

 

[skpuppy]

It’s beside Cheng Lim LRT. Much harder to get around at PG without car. 1 point not often discussed is that the new North South expressway will reduce congestion at CTE, which will benefit PG.

I think the discussion is btw SengKang area ECs. Sembawang/Canberra is not really of interest to most here

I am thinking north south expressway is not exclusive to Parc Greenwich right? Means Topiary, Ola, Piermont, Treasure Crest resident cannot drive on it?
If you read a press release by SLA, the north south expressway gives you a gain of 4-5 min on average. It is not like 40-50 min machiam you drive in USA. Some ppl may tell me! Wa kao! With North South Expressway, your drive from Parc Greenwich to Orchard Gateway from 19 min improve to 15 min. It is a 20% increase in productivity….Yeah yeah yeah! But they forgot sometimes you wait for your spouse to get ready, doing make up, this 4-5 min of absolute time is nothing one la

 

[skpuppy]

Yes i discussed before in this thread. SME owners can even buy BTO with >300K annual income but basics just show below 4K enough already. All other income just get as director fee.

HDB allow them to buy BTO based on basic salary but no grant based on NOA.

Bank consider 70% NOA amount for loan calculations and don't consider basic salary for this group.

Seriously why would someone earning $300k stay in EC? You either go condo or HDB la. Not say cannot happen but very rare chance

 

[skpuppy]

Yes i discussed before in this thread. SME owners can even buy BTO with >300K annual income but basics just show below 4K enough already. All other income just get as director fee.

HDB allow them to buy BTO based on basic salary but no grant based on NOA.

Bank consider 70% NOA amount for loan calculations and don't consider basic salary for this group.

HDB got so kumgong or not? Everyone like Steve jobs ah. Salary $1, then bonus $1mil?

 

[fluxos]

That's why I said based on income it's. Impossible. Unless show funds or fixed deposit. Like many mentioned here. How many can do that. That's precisely the reason why PGW sales is better, the unit is smaller and majority of the units are selling below 1.45M. This one just nice to fit majority of the potential buyer within income ceiling and no help from parents. Not like some spoilt brat who just anyhow shoot his mouth

I counted at least 5 ways discussed here already, there are many more ways, you just need to meet one. So don’t shoot your mouth about confirm this, confirm that, if you know nuts all.

Talking about income, even with people with 20k+ monthly Income may qualify for EC (not Director bonus).

 

[skpuppy]

I counted at least 5 ways discussed here already, there are many more ways, you just need to meet one. So don’t shoot your mouth about confirm this, confirm that, if you know nuts all.

Talking about income, even with people with 20k+ monthly Income may qualify for EC (not Director bonus).

$20k per month can apply for EC. $2mil per month also can apply. Just rejected only

 

[rockmillion]

Seriously why would someone earning $300k stay in EC? You either go condo or HDB la. Not say cannot happen but very rare chance

This is an example of high earners still can qualify BTO/EC and access to higher loan at the same time.

Also showing NOA 300K+ doesn't always mean you have that cash. business owners know this