The Visionaire EC

[grix17]

1) Thinking of upgrading
2) Yes if is for upgrading
3) Nobody know what will happen in 20 or 30 years down the road
4) Currently i can buy or not to buy.

1) Since i am a Singaporean
2) Near MRT

Looks like your reasons are similar to those of most EC buyers

The only hindrance is not wanting to move, and the advantage of not buying is having a lot of CPF savings.

If you have the interest and the means to do so but don't buy, will you regret later?

 

[asky2505]

1) Thinking of upgrading
2) Yes if is for upgrading
3) Nobody know what will happen in 20 or 30 years down the road
4) Currently i can buy or not to buy.

1) Since i am a Singaporean
2) Near MRT

If you are below 40yrs old. And comfortable with the monthly instalment, you should reward yourself after all the hard work.
If staying in a condo has always been your dream, go pursue it. So long u can afford it. Life is short. One will never know what will happen the next minute

Sent from sibeh sianz using GAGT

 

[mt]

If you brought a EC from the developer, is it a must that you must sell your existing flat through this developer?

 

[derong07]

If you brought a EC from the developer, is it a must that you must sell your existing flat through this developer?

dun have to. u can engage any agent u want to assist you in the sale of ur existing flat.

 

[Ehelpers]

You can choose any agent to market your Hdb.

Oh yes, I can get referral fee for new buyers who's interested to get Visionaire so if anyone interested, can pm me. We can split the amount

dun have to. u can engage any agent u want to assist you in the sale of ur existing flat.

 

[Pynchmail]

If you are below 40yrs old. And comfortable with the monthly instalment, you should reward yourself after all the hard work.
If staying in a condo has always been your dream, go pursue it. So long u can afford it. Life is short. One will never know what will happen the next minute

Sent from sibeh sianz using GAGT

I agree but are there any reasons why only if below 40 years old?

 

[grix17]

I agree but are there any reasons why only if below 40 years old?

Loan tenure, and possibly rules on use of CPF monies.

 

[asky2505]

Loan tenure, and possibly rules on use of CPF monies.

Bingo. When u rch 50/55, your OA contribution will drop.. Meaning u might need to pay cash. Your loan tenor also decreases with your age which in turn increases e installment

Sent from sibeh sianz using GAGT

 

[Pynchmail]

Bingo. When u rch 50/55, your OA contribution will drop.. Meaning u might need to pay cash. Your loan tenor also decreases with your age which in turn increases e installment

Sent from sibeh sianz using GAGT

That is true. I suppose if one is older but has almost paid off a HDB, it is still possible to upgrade by taking a smaller loan in view of the shorter loan tenure and lower CPF.

 

[asky2505]

That is true. I suppose if one is older but has almost paid off a HDB, it is still possible to upgrade by taking a smaller loan in view of the shorter loan tenure and lower CPF.

That depends on the value of his hdb and how many bedder he is looking at

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[DarkAlucard]

If you are below 40yrs old. And comfortable with the monthly instalment, you should reward yourself after all the hard work.
If staying in a condo has always been your dream, go pursue it. So long u can afford it. Life is short. One will never know what will happen the next minute

Sent from sibeh sianz using GAGT

I am in my early 30s 5 room flat. Planning to buy 4 beded to add 1 more room as many people staying with me.

 

[DarkAlucard]

Looks like your reasons are similar to those of most EC buyers

The only hindrance is not wanting to move, and the advantage of not buying is having a lot of CPF savings.

If you have the interest and the means to do so but don't buy, will you regret later?

I scare regret later and the price shot up in the future.

 

[grix17]

I am in my early 30s 5 room flat. Planning to buy 4 beded to add 1 more room as many people staying with me.

Most EC buyers are in this category - upgrade and/or upsize (increase number of rooms). That highlights the problem with HDB 5-rm in that there are only 3 bedrooms. So silly.

I scare regret later and the price shot up in the future.

I didn't get your point - price of what? Most HDB prices definitely won't rise further than last year's prices. EC is already discounted so that's the main selling point over PC.

 

[DarkAlucard]

I mean EC price will went up in the future. In the space of roughly 5 to 8 years EC price went up to at least $200 to $400k. I regret last time I no buy where $500k plus can get 3 beded Liao.

 

[samliucs]

I mean EC price will went up in the future. In the space of roughly 5 to 8 years EC price went up to at least $200 to $400k. I regret last time I no buy where $500k plus can get 3 beded Liao.

Totally agreed I also missed that boat

 

[grix17]

I mean EC price will went up in the future. In the space of roughly 5 to 8 years EC price went up to at least $200 to $400k. I regret last time I no buy where $500k plus can get 3 beded Liao.

I first looked at ECs in the early 2000s and I agree that they were so cheap compared to now, cheaper than many 5-rm HDBs are being sold for. I blame the private property market for this because of all the foreign investors and speculation. With all the extra measures the EC prices will not go up as much.

Let me give you an example:

Before 2010, the last EC plot in 2004 was sold for a mere $150psf (La Casa).
In 2010, EC plots were sold at an average of close to $300 psf.

That extra money paid by the developers that goes to YOU-KNOW-WHO comes from OUR pockets.

Subsequently, the numerous EC plots sold in the last few years have been sold around $300-380 psf, except for the last two (Treasure Crest and Northwave) which might have dropped due to demand and/or location.

IMO, the prices for new ECs are likely to have peaked and will not go beyond the current prices.

 

[grix17]

Totally agreed I also missed that boat

I guess this only applies to first-timers. If you sold your HDB then, it would be sold for a low price as well.

Those who gained just caught the boat before the property market went crazy.

 

[asky2505]

Totally agreed I also missed that boat

Then there was no ec available. Only after we have signed the S&P that gov relaunched ec

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[grix17]

From my Excel calculations, these are the estimated land bid PSF prices from most recent down to the first EC (reverse chronological order).

These are the figures used in property markets based on the formula: (Land Bid Price) divided by (Land Area) divided by (Plot Ratio)

From 2010 to date:
Price Project Name
$331 Not available (YCK Rd)
$295 Not available (CCK)
$278 Northwave
$280 Treasure Crest
$353 The Visionaire
$361 Wandervale
$320 Parc Life
$330 The Criterion
$335 Signature at Yishun
$375 Sol Acres
$339 Sol Acres
$367 The Vales
$350 The Brownstone
$382 Westwood Residences
$419 Lake Life
$355 The Terrace
$356 The Amore
$331 Bellewaters
$341 Bellewoods
$324 SkyPark Residences
$351 Waterwoods
$331 Sea Horizon
$296 Lush Acres
$302 Twin Fountains
$314 Ecopolitan
$373 CityLife@Tampines
$318 Forestville
$296 The Topiary
$320 Waterbay
$303 Heron Bay
$293 OneCanberra
$291 Watercolours
$270 Twin Waterfalls
$392 The Tampines Trilliant
$321 The Rainforest
$271 Blossom Residences
$302 Arc @Tampines
$263 Belysa
$237 RiverParc Residence
$308 Prive
$321 Austville Residences
$281 The Canopy
$315 Esparina Residences

No plots released between 2005 to 2009

1997 to 2004:
Price Project Name
$150 La Casa
$160 The Quintet
$139 Whitewater
$135 The Esparis
$160 Nuovo
$149 The Dew
$212 Bishan Loft
$160 The Eden
$138 Lilydale
$199 The Florida
$156 The Floravale
$181 Northoaks
$220 Summerdale
$192 Woodsvale

 

[SKWSMC]

I guess this only applies to first-timers. If you sold your HDB then, it would be sold for a low price as well.

Those who gained just caught the boat before the property market went crazy.

EC is to buy to stay. For those whose main aim is to buy and sell to earn a huge profit, you might be disappointed.

The recent cap for buying EC is $14k which is why a lot of people can start buying compare to the $10k many years back. Although i don't have the data on hand, how many SG couples actually earn more than $14k? And why will those earn less than $14k want to buy the EC from you when they can buy the new EC at a discounted price? Don't take me wrong, I am not saying there won't be but the question is how many?

Sell to the foreigner? Remember the intake of FT is going to stay low or growth at a slower rate when comparing to the last 20 years.

Also now SG is a developed country. Unlike in the past when GDP growth by double digit, currently the GDP growth less than 2%. Hitting a GDP growth rate at 5% in normal time seems difficult liao.

So don't look at EC as a tool to earn big money. Just be happy and stay in it.