Parc Greenwich EC

[skpuppy]

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

No cash flow then better don’t wear too big hat. Seriously for me, it is not about what pay shows etc…to me, having high pay with little cash flow is = problem also. Having financial muscle is about ur net worth and liquidity. Pay is only 1 part of it

 

[fluxos]

Just a little sharing beyond the conventional wisdom. Hope it helps somebody.

 

[fluxos]

No cash flow then better don’t wear too big hat. Seriously for me, it is not about what pay shows etc…to me, having high pay with little cash flow is = problem also. Having financial muscle is about ur net worth and liquidity. Pay is only 1 part of it

You’re spot on. Financial networth and liquidity are the most important when buying property, but it is not a restriction on ECs, that’s why all the 5 bedders / desirable high level 4 bedder PH/non-PH were first to be bought. We see this over and over again across many projects.

 

[unclebutcher]

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).

We also got a IPA for 75% of 1.6xx w MSR, also while being under the income cap, without showing any funds. so fluxos is right.

 

[Skywalker19777]

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.

1.8 m loan can be done with msr, bridging loan +lock fund+show fund +rich parent and all in.

 

[NiShiZhu]

Hehe, if one can go up to 1.8mil budget, if can show fund, rich parent, ready cash I still buy EC for what? Straight away Cheong condo liao. Still Kenna restricted by 5 years MOP ruling plus delay in construction like not very fun leh. Total takes up 10 years of my life.

Not forgetting the near 4000sqft city life EC penthouse case study that used to sell near 2mil is a joke. Some can afford because of rich parent. That’s y govt step in and limit the EC quantum and size.
Else totally distort the intent of EC which is meant as a subsidized housing for the middle income
Using tax payers’ money to subside EC penthouses buyers that can afford 2mil property? Hehe…doesn’t sounds right.

 

[Passerboy]

Hehe, can go up to 1.8mil budget, if can show fund, rich parent, ready cash I still buy EC for what? Straight away Cheong condo liao. Still Kenna restricted by 5 years MOP ruling plus delay in construction very fun meh

Not forgetting 4xxxsqft city life EC penthouse that used to sell near 2mil is a joke. Some can afford because of rich parent. That’s y govt step in and limit the EC quantum and size.
Else totally distort the intent of EC intent as a subsidized housing

I think recently PLB got one Citylife unit penthouse selling at $3.5m.. big Huat to first owner.

 

[NiShiZhu]

I think recently PLB got one Citylife unit penthouse selling at $3.5m.. big Huat to first owner.

Yea I’m referring to that one.

 

[skpuppy]

1.8 m loan can be done with msr, bridging loan +lock fund+show fund +rich parent and all in.

Cannot compare like that la. If u use that, then I can buy terrace house already. What is the point of bridging loan + mortgage your equities to the bank to do all these? Maybe it is just me. Property is not everything la. If today u have $2-3 mil in shares then ok to diverse into a $1-2 mil property. No point all in property and 0 investment. Doesn’t make sense also.

 

[Senayan]

You’re spot on. Financial networth and liquidity are the most important when buying property, but it is not a restriction on ECs, that’s why all the 5 bedders / desirable high level 4 bedder PH/non-PH were first to be bought. We see this over and over again across many projects.

Hahahaha why you want to shoot yourself in the foot. A while say developer make mistake, a while say its a trend over and over again across many project.
Yes! Over and over again inner view or pool view units are the highly desirable unit command higher price. Over and over again developer know that all the project will be 100% sold sooner or later. So they not worry the good unit are sold first or later. In fact according to one of the forummer for ola the premium inner facing unit the price are being block out as the developer not in hurry to sell those unit. They put out all the so called less premium view for sale first. So cheaper and road view unit over and over again it will sell first.

 

[fluxos]

Exactly, those self employed/business owner earning so much majority can't be bother to game the system just to buy Ec. When earning is that high they can easily afford bigger and better unit. Rather than some noisy road facing unit. The 1200sqft for a 4 bedder pathetically small. Atas ppl got class one don't squeeze into such a small unit. I think fluxos unit even worst, since he mentioned his one is the partially unblock road view unit, means unblock from all the noise and dirt **** dust. Probably a 3 or 3 plus 1. Lagi worst 1000sqft. "earn so much" until can take 75% of 1.8m loan and yet squeeze into such a small unit. Really no class

Senayan ah, Senayan. I have no desire to engage in arguement with strangers over the internet. I came into this thread because of my initial excitement in booking a unit.

I wish you all the best in finding your dream home for your family that is within your affordability.

My last post in this thread until perhaps a major announcement (MRT?). Any residents who wish to contact me can reach out to me in our verified residents telegram group. Have a good weekend all.

 

[NiShiZhu]

Honestly, I have no desire to comment whether ola or PGW which one is a better buy. But MSR really plays a part in some buyer’s decision whether to buy an brand new EC or resale. Because of MSR and substantial amount of downpayment required, one of my fren has to give up the idea of buying piermont grand and settle for resale condo.
Just sharing a common case study
Again, congrats to those who took the plunge.

 

[skpuppy]

Can someone share where is the future mrt station?
https://www.ura.gov.sg/maps/?service=MP

 

[Passerboy]

Senayan ah, Senayan. I have no desire to engage in arguement with strangers over the internet. I came into this thread because of my initial excitement in booking a unit.

I wish you all the best in finding your dream home for your family that is within your affordability.

My last post in this thread until perhaps a major announcement (MRT?). Any residents who wish to contact me can reach out to me in our verified residents telegram group. Have a good weekend all.

Don’t worry, the major positives is EC usually see positive sales upon MOP. Parc Greenwich is also by reputable developer Frasers, should be nice. Enjoy ur stay there

 

[rockmillion]

Honestly, I have no desire to comment whether ola or PGW which one is a better buy. But MSR really plays a part in some buyer’s decision whether to buy an brand new EC or resale. Because of MSR and substantial amount of downpayment required, one of my fren has to give up the idea of buying piermont grand and settle for resale condo.
Just sharing a common case study
Again, congrats to those who took the plunge.

If i sense an argument can start i just stop replying but i dont stop myself posting in the forum haha

dont have energy like you to keep on writing lol

 

[NiShiZhu]

If i sense an argument can start i just stop replying but i dont stop myself posting in the forum haha

dont have energy like you to keep on writing lol

Haha becoz u r a nice guy whereas I’m a bad guy mah.
But same as u, nothing prevent me from posting and speaking the truth.
Honestly, ola or PGW, to me both sama sama lah
Location I will choose PGW, layout I will choose Ola.

 

[NiShiZhu]

Don’t worry, the major positives is EC usually see positive sales upon MOP. Parc Greenwich is also by reputable developer Frasers, should be nice. Enjoy ur stay there

Ya, so far I haven’t seen any EC losing money yet. Have u?

 

[Passerboy]

Ya, so far I haven’t seen any EC losing money yet. Have u?

Think never, even those im very ulu location to me like Blossom, Bellewoods also see positive sales.

 

[rockmillion]

Haha becoz u r a nice guy whereas I’m a bad guy mah.
But same as u, nothing prevent me from posting and speaking the truth.
Honestly, ola or PGW, to me both sama sama lah
Location I will choose PGW, layout I will choose Ola.

Yeah sometime buyers can be sensitive to unbiased comparisons and then it all need to start. I always keep this in mind and understand buyer's' state of mind also.

Personally i also like PGw location because i drive but OLA layouts are better for 4 br.

Just few months ago OLA was selling 1389 sqft 4br between 1.4xx to 1.5xx mil and now suddenly the market has changed alot after PR8 and Lentor site saga. Whoever bought OLA 4br before this recent jump are in good position.

Anyway its EC, both projects will sure huat and buyers should be happy for their choices

 

[rockmillion]

Haha becoz u r a nice guy whereas I’m a bad guy mah.
But same as u, nothing prevent me from posting and speaking the truth.
Honestly, ola or PGW, to me both sama sama lah
Location I will choose PGW, layout I will choose Ola.

wonder if there is any option for SIRI or hey google which can write on behalf of us and we can eat pocorn watch movie and post lengthy posts haha