Rivercove Residences

[Clazav]

Based on the good sale for Parc botannia, how much do you the rivercove psf will be?

 

[jouhyo]

Logical thinking. Gf’s parents also tink not worth it, current ecs may seem to reap good returns, but savvy investors know past performance is not indicative of future value. EC unlikely to bring much returns after deducting monthly fees and charges, since there are simply so many ECs ard the area waiting to enter the market dilution situation. So they r telling us either dun yolo and do a 4-5rm bto, or yolo and get a freehold 2-3 bedrm unit, at least theres guaranteed value and appreciation in freehold at right times ��

You cant capitalise monthly fees and charges as part of yr resale price in future. These are utilised when u stay in the condo using the facilities. Even HDB also have conservatory and carpark charges.

If Parc Botannia is selling at an average of 1250psf, assuming 10 years down the road when RC privatized and price remain stagnant for PB, RC will most likely appreciate to at least 1100psf. There is always inflation and upward pressure over time. No one is willing to sell at a loss especially those who bought PB. Think again if u think RC is not worth.

 

[Thomcat818]

correct me if i'm wrong. I just see that EC monthly fees ($350 and increasing) are maybe thrice HDB’s? (assuming u get seasoned parking). And assuming u even use the facilities, for those months on hols or if u swim once a week, if u’re happy to use a treadmill or the pool for say $30-$60 each time ok good for u. It’s a good $20+k of ‘utilised charges’ by the time you are ready to sell to fellow buyers. In theory you don't capitalise monthly fees, but in practice these are costs that one has to fork up because it's a condo. For people who gym everyday then this is a good thing, but for usual lazy bums like me, I think not too suitable after all. But I'm very interested to know how RC's sales turn out.

You cant capitalise monthly fees and charges as part of yr resale price in future. These are utilised when u stay in the condo using the facilities. Even HDB also have conservatory and carpark charges.

If Parc Botannia is selling at an average of 1250psf, assuming 10 years down the road when RC privatized and price remain stagnant for PB, RC will most likely appreciate to at least 1100psf. There is always inflation and upward pressure over time. No one is willing to sell at a loss especially those who bought PB. Think again if u think RC is not worth.

 

[SBC]

Are EC buyers subject to MSR & TDSR?

 

[Zetrio2006]

correct me if i'm wrong. I just see that EC monthly fees ($350 and increasing) are maybe thrice HDB’s? (assuming u get seasoned parking). And assuming u even use the facilities, for those months on hols or if u swim once a week, if u’re happy to use a treadmill or the pool for say $30-$60 each time ok good for u. It’s a good $20+k of ‘utilised charges’ by the time you are ready to sell to fellow buyers. In theory you don't capitalise monthly fees, but in practice these are costs that one has to fork up because it's a condo. For people who gym everyday then this is a good thing, but for usual lazy bums like me, I think not too suitable after all. But I'm very interested to know how RC's sales turn out.

Hdb carpark rates is $80 surface to $110 (sheltered)

Service and conservancy charges about $70.

Ec maintenance about $220 to $300 depending on how big the unit is.

 

[Solid_snape]

You cant capitalise monthly fees and charges as part of yr resale price in future. These are utilised when u stay in the condo using the facilities. Even HDB also have conservatory and carpark charges.

If Parc Botannia is selling at an average of 1250psf, assuming 10 years down the road when RC privatized and price remain stagnant for PB, RC will most likely appreciate to at least 1100psf. There is always inflation and upward pressure over time. No one is willing to sell at a loss especially those who bought PB. Think again if u think RC is not worth.

But by this logic there are plenty of ECs in SK and PG that can undercut RC by as much as $100psf and still make profits and most have better or at least comparable locations (nearer to interchange etc)

So what kind of buyer would pay more for RC when looking at resale say 10 years from now?

I'm talking about properties such as the Vales, treasure crest, bellwaters, ecopolitan, Terrace etc etc all of which sold at lower average PSF than what we think RC will be launching at..

 

[Clazav]

You cant capitalise monthly fees and charges as part of yr resale price in future. These are utilised when u stay in the condo using the facilities. Even HDB also have conservatory and carpark charges.

If Parc Botannia is selling at an average of 1250psf, assuming 10 years down the road when RC privatized and price remain stagnant for PB, RC will most likely appreciate to at least 1100psf. There is always inflation and upward pressure over time. No one is willing to sell at a loss especially those who bought PB. Think again if u think RC is not worth.

I don't think ec will appreciate that much in area such as pg, sk. Too many of them. In that area, only Esparina, and hundred palm will appreciate more significant.

 

[Clazav]

correct me if i'm wrong. I just see that EC monthly fees ($350 and increasing) are maybe thrice HDB’s? (assuming u get seasoned parking). And assuming u even use the facilities, for those months on hols or if u swim once a week, if u’re happy to use a treadmill or the pool for say $30-$60 each time ok good for u. It’s a good $20+k of ‘utilised charges’ by the time you are ready to sell to fellow buyers. In theory you don't capitalise monthly fees, but in practice these are costs that one has to fork up because it's a condo. For people who gym everyday then this is a good thing, but for usual lazy bums like me, I think not too suitable after all. But I'm very interested to know how RC's sales turn out.

Then you shouldn't aim for EC and pc. Choose either hdb or landed.

 

[flashover]

Mine is $240. Additional $60 for gym, pool and security.

Some of my neighbours got 2 cars so more worth it for them.

Hdb carpark rates is $80 surface to $110 (sheltered)

Service and conservancy charges about $70.

Ec maintenance about $220 to $300 depending on how big the unit is.

 

[Thomcat818]

How come pool n security separate.. thought security is for everyone?

I tink some ecs are qt strict one lot per household.

Mine is $240. Additional $60 for gym, pool and security.

Some of my neighbours got 2 cars so more worth it for them.

 

[iceraider]

Think flashover mean additional $60 on top of what u need to pay for HDB (i.e $180) and u can get gym, pool and security..

How come pool n security separate.. thought security is for everyone?

I tink some ecs are qt strict one lot per household.

 

[Thomcat818]

Oic thanks!!

Think flashover mean additional $60 on top of what u need to pay for HDB (i.e $180) and u can get gym, pool and security..

 

[flashover]

Yup correct

Think flashover mean additional $60 on top of what u need to pay for HDB (i.e $180) and u can get gym, pool and security..

 

[flashover]

Mine ec still not 100% occupied so still not so strict on the parking situation.

How come pool n security separate.. thought security is for everyone?

I tink some ecs are qt strict one lot per household.

 

[Pengyu.song@gmail.com]

How much appreciation is expected from EC nowadays? How about 5-year down the road after MOP?

 

[SBC]

How much appreciation is expected from EC nowadays? How about 5-year down the road after MOP?

200k easily.

 

[fotoudavid]

200k easily.

Reasons behind the 200k?

 

[SBC]

Early batch of Seng Kang BTO have made 200k.
My friend is 1 of them.

Easy to make close to $200 psf. With EC 3BR of average 1100 sq, profit of 200k could be expected.

Buyers of nearby Highland Park is another example. Average developer price of $1000 psf. Recent nearby PC launch at average close to $1300 psf. PC could make more than EC, if you are lucky.

Other nearby PC eg H2O, Raintree Residence will benefit too.

 

[Eighty7]

Early batch of Seng Kang BTO have made 200k.
My friend is 1 of them.

Easy to make close to $200 psf. With EC 3BR of average 1100 sq, profit of 200k could be expected.

Buyers of nearby Highland Park is another example. Average developer price of $1000 psf. Recent nearby PC launch at average close to $1300 psf. PC could make more than EC, if you are lucky.

Other nearby PC eg H2O, Raintree Residence will benefit too.

Personally I think yes if that is in the earlier days but in today context at RC it’s saturated and I don’t think profit will be that high. I just sold my SK flat for 200k profit . But that was before SK before saturated . Now a brand new flat would have factored in all the nearby amenities in their selling price .

When I bought my SK flat there was no news for a hospital etc , Rivervale Plaza was like in a state of mess . Then by a twist of fate all these changed , New Hospitals , 24hr mac , 24 hour ntuc opened opposite my house as a result So resale value increases greatly.

 

[jouhyo]

But by this logic there are plenty of ECs in SK and PG that can undercut RC by as much as $100psf and still make profits and most have better or at least comparable locations (nearer to interchange etc)

So what kind of buyer would pay more for RC when looking at resale say 10 years from now?

I'm talking about properties such as the Vales, treasure crest, bellwaters, ecopolitan, Terrace etc etc all of which sold at lower average PSF than what we think RC will be launching at..

I am assuming if PB price is stagnant. 5 mins away is RC, so you are saying it cant sell for a price slightly lower than Parc Botanic when it privatized, with both of similar lease age and facilities? No one will mind to fork out 100psf less to get the same property of the same location with the same facilities.

There is always a misconception that if there are many condo around, it will depress the sale price of condo. Then how come no one apply this logic for HDB. So many HDB around, sure will depress each other price right?