Pinetree Hill

[Nanonited]

Based on the Breakeven price for Pine grove condo(next door) failed enbloc years ago, the price wont say cheap, but its reasonable. And like you said, all the condos all lao kok kok, very limited comparison, so once cant definitively say 23xx 24xx is expensive.

Whether its cheap, i'd like to highlight, now the property market is white hot, no developer gonna be charitable and sell you "cheap", the prices are adjusted to move units, and yet make money.

as for your exit price, all depends on the surrounding 2 condos, one on your left(pandan) and one on your right (pinegrove), if some developer suka suka come in an swallow either of those gigantic things at a updated enbloc price, overnight you make money liao.

Thank you for sharing about the 25xx or even 24xx being cheap, its because of the comments above saying UOL prices their units reasonably and that if priced at 24xx will move more than 60% easily. I took those comments to mean that 24xx to 25xx for the area is reasonable/a good price despite RR pricing at 24xx…

due to my limited knowledge of the area, maybe 24xx to 25xx for this area is a good price which i may not be aware.

 

[Nanonited]

####

you are corrected.

these people telling you 24xx psf cheap are expecting 3xxx psf when they exit in 3~4 years.
you decide if you want to believe them

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3xxx is a lot man.. even those bought precovid also mostly is 4xx psf gain kind… 6xx gain is insane without another round of catalyst…

 

[durain]

Thank you for sharing about the 25xx or even 24xx being cheap, its because of the comments above saying UOL prices their units reasonably and that if priced at 24xx will move more than 60% easily. I took those comments to mean that 24xx to 25xx for the area is reasonable/a good price despite RR pricing at 24xx…

due to my limited knowledge of the area, maybe 24xx to 25xx for this area is a good price which i may not be aware.

Haha no worries bro. I think with any new launch, just be objective, and at the back of your mind, know whats the breakeven price of the developer, and add the 15% profit they look to make. Then you will have a clearer picture, especially when you're in the hot seat on launch day, the more you are prepared, the lesser chance of fomo making you end up being a carrot. Dont be the guy who bailed out a developer who overpaid, by overpaying. Real estate got so much potential everywhere , you just need to look and keep looking.

End of the day, developer dont price "cheap" or "expensive" , they price to make money. I'd say for RR its unique in a way that the developers bought the land at a bargain, and yet decided that they wanted to price to sell, rather than stage prices, so developer make money, consumer also happy cos they get a reasonably priced deal.

 

[ThinkCarefully]

3xxx is a lot man.. even those bought precovid also mostly is 4xx psf gain kind… 6xx gain is insane without another round of catalyst…

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from 25xx to 3000 is 4xx psf or about 20% gain.

like I explained, if gain is only 10%, after minus bsd, legal, agent, interest, time… really nothing to crow about.


#####

 

[petetherock]

25xx with two nearby top primary schools .. now that’s a winner
UOL build quality is usually pretty good
No train? That’s a minus but the schools are the main attraction
I’ll say it will be another busy weekend … good luck to all the buyers and like hunger games literally
May the odds be in your favor
Do post final prices

 

[Nanonited]

Haha no worries bro. I think with any new launch, just be objective, and at the back of your mind, know whats the breakeven price of the developer, and add the 15% profit they look to make. Then you will have a clearer picture, especially when you're in the hot seat on launch day, the more you are prepared, the lesser chance of fomo making you end up being a carrot. Dont be the guy who bailed out a developer who overpaid, by overpaying. Real estate got so much potential everywhere , you just need to look and keep looking.

End of the day, developer dont price "cheap" or "expensive" , they price to make money. I'd say for RR its unique in a way that the developers bought the land at a bargain, and yet decided that they wanted to price to sell, rather than stage prices, so developer make money, consumer also happy cos they get a reasonably priced deal.

Could i ask where do you see opportunities now? I realise people are willing to pay much more for slightly newer with better layout?

E.g is 2 units both same sqft but one has bay windows hence not as ideal and its 4 years older almost. However location more or less same and yet the newer one sell about 2xx to 300 psf higher almost. My agent tell me buyer has shifted to all want newer and willing to pay as long as quantum ok… however the difference is really big

 

[bluegt]

Today, you are the first time buyer purchasing the new launch.

Tomorrow (in 3 years, at TOP and after SSD period), your unit is considered "resale". Not so exciting for tomorrow's new launch buyer.

25xx new launch buyer must sell into resale market at $3,250 for 30% gain. Your tomorrow buyer would rather buy a new launch elsewhere for $3,250 with a more efficient layout rather than your old resale. So how?

But don't people make money on new launches? Yes, but the gap between resale and new launch wasn't always so large.

 

[bluegt]

Could i ask where do you see opportunities now? I realise people are willing to pay much more for slightly newer with better layout?

E.g is 2 units both same sqft but one has bay windows hence not as ideal and its 4 years older almost. However location more or less same and yet the newer one sell about 2xx to 300 psf higher almost. My agent tell me buyer has shifted to all want newer and willing to pay as long as quantum ok… however the difference is really big

Developers will make their 15% from you, agents will make their 3.5% (70K on a 2M purchase) from you. Both will smile and congratulate you for being kiasu. It feels nice, maybe you will get a card, flowers and box of chocolate upon delivering your cheque.

If buying for own stay, look at your requirements and purchase according to those. In the resale market you can easily get 30-40% more space, better location, can see before you buy.

Your agent will discourage, tell you about inefficiencies, bad layouts, the risks of resale, leaks, cracks - it will give you nightmares. You will ask them for resale options and they will not smile, they will not encourage, they will give you a disappointing look as if you just got a bad PSLE result.

If you go through with a resale, your agent will congratulate you and then drive away cursing you under their breath. But why, you gave them business? Because they only made 20K commission instead of 70K, you crushed their dreams.

Do you really want to crush your trusted agent's dreams? Of course not, so go buy a new launch. They will thank you and make sure you feel happy with your purchase.

 

[petetherock]

Don’t just look at profit
Look at your needs
This place appeals to those who want the 1km
However there are potentially two more plots to compete with.. so don’t overspend

 

[ThinkCarefully]

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Like many has shared this is for own stay needs...not really investor

next time also sell back to own stay need..

can buy or not, think carefully your objective of buying

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[petetherock]

It depends.. desperate families who want a place in the schools will buy / rent a one bed if needed.
But for those who are looking to sell to those who want to stay, then a minimum of 2 beds is needed and even that is not huge...
Let's see how the floors plans are

 

[marshmallow96]

25xx with two nearby top primary schools .. now that’s a winner
UOL build quality is usually pretty good
No train? That’s a minus but the schools are the main attraction
I’ll say it will be another busy weekend … good luck to all the buyers and like hunger games literally
May the odds be in your favor
Do post final prices

Within 1km, only one top school which is Henry Park. The other school within 1km is Pei Tong, not a bad school but just very average, no need to ballot, stay in JB also can get in, every year got spare seats for Phase 3 foreigners.

However in the 1-2km range, got Nanhua, MGS, and Pei Hwa. Should be good enough for the alumni to get in.

 

[Nanonited]

Within 1km, only one top school which is Henry Park. The other school within 1km is Pei Tong, not a bad school but just very average, no need to ballot, stay in JB also can get in, every year got spare seats for Phase 3 foreigners.

However in the 1-2km range, got Nanhua, MGS, and Pei Hwa. Should be good enough for the alumni to get in.

Will you be considering this?

 

[Rxgn]

Just to ask… 24xx is considered cheap for this area? I see the old condos nearby close to 30 years old going for 13xx to 14xx range.

to profit must sell at 27xx to 28xx?

not say too cheap cant say its too ex too. botany already above 20xx psf. we really cant predict the future but in the last 5 years, sg properties have been super green. most likely it will be green for next 5 years, rather than red.

i believe it will make money but im not buying due to quantum. cant afford it.

for me if 2nd property as investment, i will get 3br ocr under 1.6m for RENT / CA / enbloc reasons.

 

[marshmallow96]

Will you be considering this?

It’s a nice area but my hub rejected immediately cos doesn’t have the MRT, food and convenience that he needs

 

[Rxgn]

It depends.. desperate families who want a place in the schools will buy / rent a one bed if needed.
But for those who are looking to sell to those who want to stay, then a minimum of 2 beds is needed and even that is not huge...
Let's see how the floors plans are

Floor plans are out, agent sent me. But i still cant find any floor plans being upload on those advertisment website yet.

Smallest is 1br +study at 538sqft
3br compact 969sqft have a small crooked wasted walkway at main door

All 2br except type 2BP4 have a table and chair at the living room, i suppose it is a study

 

[Nanonited]

not say too cheap cant say its too ex too. botany already above 20xx psf. we really cant predict the future but in the last 5 years, sg properties have been super green. most likely it will be green for next 5 years, rather than red.

i believe it will make money but im not buying due to quantum. cant afford it.

for me if 2nd property as investment, i will get 3br ocr under 1.6m for RENT / CA / enbloc reasons.

Dropped you a PM!

 

[Nanonited]

It’s a nice area but my hub rejected immediately cos doesn’t have the MRT, food and convenience that he needs

Are you guys staying beside mrt now?

 

[Ocolocorch]

Could i ask where do you see opportunities now? I realise people are willing to pay much more for slightly newer with better layout?

E.g is 2 units both same sqft but one has bay windows hence not as ideal and its 4 years older almost. However location more or less same and yet the newer one sell about 2xx to 300 psf higher almost. My agent tell me buyer has shifted to all want newer and willing to pay as long as quantum ok… however the difference is really big

Think buying for own stay buyers mentality, reasons for wanting new as long as one can afford the money + the time to wait. Profit is not an issue since it is for own stay and not for flipping. List of reasons i could think of would be:
-Brand new 1st hand owner
-All residents paying the same $$$ at launch so you actually paid a fair price for the project with your neighbours. Won't lose out if enbloc in future
-Latest smart home technology
-Progressive payment
-Any defects etc covered in warranty
- minimal reno cost
- Some due to "face" reason. Imagine you bought resale at 2k psf. Your new friends or acquaintances saw your address just assumed you bought at 1k psf last time, v lugi

Anymore possible reasons?

 

[petetherock]

Within 1km, only one top school which is Henry Park. The other school within 1km is Pei Tong, not a bad school but just very average, no need to ballot, stay in JB also can get in, every year got spare seats for Phase 3 foreigners.

However in the 1-2km range, got Nanhua, MGS, and Pei Hwa. Should be good enough for the alumni to get in.

2km and MGS ?
Nah.. you won’t want to buy something so expensive only to fail when all those at The Reserve and Linq take all the available slots