Treasure at Tampines

chopra

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I have heard this many many times.. but I did not keep track. Perhaps you can let us know next week?

Maybe they will raise for a few weeks then give discounts again. All sales tactics, don't get fooled.
haha ya!
On top of the odd layout, two other factors need to consider as well:
1) those facing Golf course view will have its lease ended in 2022 and the land will be slated for residential purpose. Meaning to say u will be facing the massive construction for the coming years.
2) someone shared online that a small two bedder unit monthly maintenance is already $500 plus. (This fee is based on year 2012 I read). If this is true, Can imagine how hefty is the maintenance fee for bigger units and also when this project gets older. The high maintenance fee for this project is due to too many landscaping features in this condo that needs to maintain.
is 500 above average? cant understand why they need so much $
 

NiShiZhu

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Reflections@Keppel Bay is a newer condo, TOP in 2013. Don’t confuse with Carribean TOP 2004. ;)

Reflection lease starts at 2005/2006. TOP around 2011/2012.
It’s a near 14 year old condo.

It’s like coco palm, lease starts at 2008 though it just recently TOP. 10 year lease gone.
Can u say coco palm is a 1 year condo? :D

gOGWNkK.png
 
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ThinkCarefully

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Really strange. Some Developers keep the land so Long and let the lease run before developing. Just like coco palm, TOP just not to Long ago but already run down more than 10 years of its 99 year lease. Buyers beware.


That is the problem. Many buyers are unaware or did not check the start of 99 year lease. Many just assume TOP date is close to start of lease.
 

NiShiZhu

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haha ya!

is 500 above average? cant understand why they need so much $

You should check it’s neighbour, the corals, maintenance fee even higher I heard :D

Why should we be surprise? Judging by its architectural design and landscaping, how can reflection @ Keppel maintenance be cheap? Even though there’s over 1100 units.
 
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NiShiZhu

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That is the problem. Many buyers are unaware or did not check the start of 99 year lease. Many just assume TOP date is close to start of lease.

My colleague told me proudly his parent just bought a brand new condo - coco palm.
I told him it’s not new because 10 years lease had passed. He facial expression is like he got a shock right through in a bolt of blue. :D

Yap, u will be surprised many still naively think the lease goes by TOP date. Lol.
 
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NiShiZhu

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an agent just told me that the developer is gonna raise the price this weekend and ask me to faster book now.. not sure if it's just one of their sales technique.. if sales really sluggish, dont understand why the developer wants to raise price.

Are you referring to this project?

EA0g3St.jpg
 
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NiShiZhu

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Just realized I forgot to specify in my earlier post, he was referring to treasure at tampines actually.

Buy treasure no need rush. Plenty of units.
But of cos if u had set your mind to buy this project, then do what u deem fit.
 
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starry9t

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I'm actually not keen on treasure at tampines, that's why agent keep trying to persuade me. Only have one bullet so want to think really carefully.. I've been looking at Rezi 24 recently, thinking that with a slightly higher quantum I'd be getting a unit in a more central location and freehold also.. any thoughts on this?

Buy treasure no need rush. Plenty of units.
But of cos if u had set your mind to buy this project, then do what u deem fit.
 

ThinkCarefully

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My colleague told me proudly his parent just bought a brand new condo - coco palm.
I told him it’s not new because 10 years lease had passed. He facial expression is like he got a shock right through in a bolt of blue. :D

Yap, u will be surprised many still naively think the lease goes by TOP date. Lol.

Such nativity will be exposed when it is time to sell.

5 to 7 years after TOP, the building may look relatively new, but lease wise may have already passed the twenty year mark.
Another time line is 15 to 20 year old building already passing the 30 year lease mark. Then future buyers difficult to take loan.

So, if you care what you buy with your money, check remaining lease for non FH projects.
 

kiatme

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I'm actually not keen on treasure at tampines, that's why agent keep trying to persuade me. Only have one bullet so want to think really carefully.. I've been looking at Rezi 24 recently, thinking that with a slightly higher quantum I'd be getting a unit in a more central location and freehold also.. any thoughts on this?
They are 2 different sites so its not an apple to apple comparison.
Take note bank loan quantum can be different for geylang properties, do check with your bankers.
 

NiShiZhu

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I'm actually not keen on treasure at tampines, that's why agent keep trying to persuade me. Only have one bullet so want to think really carefully.. I've been looking at Rezi 24 recently, thinking that with a slightly higher quantum I'd be getting a unit in a more central location and freehold also.. any thoughts on this?

Odd lanes at Geylang are generally safe in securing bank loan. (Especially lane 23 to 39)
Even lane starting from Lorong 24 onwards is generally safe as well in securing 75% bank loan.
Anything from Lorong 4-22 are considered red light district and u may not be able to secure full 75% bank loans (based on case by case basis, could be only 50% etc)

Rezi 24 thus falls somewhere between the safe and bolder line area.
So far, I’m not vested in Geylang condo before, so I may not be in the best position to advise u.
Maybe I still belongs to the old fashion type and always think it’s a taboo to have the Geylang address.

Maybe other bros here who have vested there can give u more constructive advice.
 

iCubes

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Odd lanes at Geylang are generally safe in securing bank loan. (Especially lane 23 to 39)
Even lane starting from Lorong 24 onwards is generally safe as well in securing 75% bank loan.
Anything from Lorong 4-22 are considered red light district and u may not be able to secure full 75% bank loans (based on case by case basis, could be only 50% etc)

Rezi 24 thus falls somewhere between the safe and bolder line area.
So far, I’m not vested in Geylang condo before, so I may not be in the best position to advise u.
Maybe I still belongs to the old fashion type and always think it’s a taboo to have the Geylang address.

Maybe other bros here who have vested there can give u more constructive advice.

I think Geylang mostly suitable for singles or investors only. People who want to raise a family will not consider that area, who wants their children to grow up in that kind of neighbourhood?
 

starry9t

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I am worried about bank loan and the area too. Have consulted a banker from ocbc and was told only lor 30 onwards can get full financing of 75%, so am a bit skeptical when agent told me they have ocbc bankers working with them that can give 75% financing.

I'm looking at one bedder for investment purpose, as cannot afford bigger units due to absd. Was thinking at geylang area might be easier to rent out as compared to treasure at tampines.

Would prefer somewhere other than geylang if have enough bullet, but apparently there are not many options for FH condo under 700k available in the market, and Rezi 24 seems to have the most central location/nearest to mrt..


Odd lanes at Geylang are generally safe in securing bank loan. (Especially lane 23 to 39)
Even lane starting from Lorong 24 onwards is generally safe as well in securing 75% bank loan.
Anything from Lorong 4-22 are considered red light district and u may not be able to secure full 75% bank loans (based on case by case basis, could be only 50% etc)

Rezi 24 thus falls somewhere between the safe and bolder line area.
So far, I’m not vested in Geylang condo before, so I may not be in the best position to advise u.
Maybe I still belongs to the old fashion type and always think it’s a taboo to have the Geylang address.

Maybe other bros here who have vested there can give u more constructive advice.
 

NiShiZhu

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Actually bro icube and starry has addressed similar concerns I had regarding Geylang property.
Not forgetting there are more and more small development sprung around that area in the recent years.

Of cos compared to treasure, rentability at Geylang would be higher due to proximity to lotsa amenities and nearer to central. But just need to be careful, buy the right Lorong.

On the bright side, the news of Re-zoning Lorong 4-22 (from residential use to commercial use) can be a good news for the property price there to rise in near future.
 
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NiShiZhu

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I am worried about bank loan and the area too. Have consulted a banker from ocbc and was told only lor 30 onwards can get full financing of 75%, so am a bit skeptical when agent told me they have ocbc bankers working with them that can give 75% financing.

I'm looking at one bedder for investment purpose, as cannot afford bigger units due to absd. Was thinking at geylang area might be easier to rent out as compared to treasure at tampines.

Would prefer somewhere other than geylang if have enough bullet, but apparently there are not many options for FH condo under 700k available in the market, and Rezi 24 seems to have the most central location/nearest to mrt..

U may want to try Maybank

https://www.google.com.sg/amp/s/inv...nvesting-in-geylang-what-to-look-out-for/amp/
 

starry9t

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Thank you NSZ for the link and suggestion.

I have previously checked with cimb, and found out that they don't finance shoebox units (<500 sqft). The banker suggested me to go with one of the local banks if want to get mortgage for shoebox units. Not sure if it's the same case with maybank, but would be worth finding out.

The link you shared is very helpful. I think I need to think more carefully, just hope that the property price won't keep going up while I'm still trying to decide, and also the govt won't be introducing more cooling measures in the meanwhile also...

 
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I'm actually not keen on treasure at tampines, that's why agent keep trying to persuade me. Only have one bullet so want to think really carefully.. I've been looking at Rezi 24 recently, thinking that with a slightly higher quantum I'd be getting a unit in a more central location and freehold also.. any thoughts on this?

Geylang properties in fact are the best for rental yield almost always when you do apple to apple comparison.

Pros
FH properties
High rental yields, lower quantum

Cons
High chance of attracting the wrong kind of tenants, take a look at some of the floor plans, esp the loft projects, feels like it's more targeted as higher class dormitory/vice-activity grounds
Definitely not for expats family
Messy area. Even the govt acknowledged that it's the most dangerous neighbourhood in Singapore
Limited bank loan choices. Maybank and Singapura finance i think.
Boutique condos, typically lack of security
Higher maintenance fee

As for appreciation, it's sort of the same as other OCR areas. You'd need to wait for concrete news about moving the red light district out. News has been there for at least a decade, but personally i dont see it happening anytime in the next two decades, it's too complex a decision, govt tend to take a back seat in this sort of social issues. So neither a pro nor con.

Perhaps take a better look at the area if you like it, investment wise is a good choice.
 

kiatme

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If you want to consider geylang properties, i would suggest considering on resale vs the new launch there. Most of the resales along that stretch are fairly new, so why pay 20% most for a new launch considering the size of project/proximity of each other/facilities are almost similar, the only difference is probably 3-10 years age difference (most of them are freehold as well) and the layouts (some with lofts).

I would suggest taking a look at the resale listings there, go for some viewings and have an actual feel of things, try some small talk with the agent and owner and find out how long do they actually take to rent out the unit and the maintenance fees there, from there you can probably have a gauge on how your profit margin should you decide to invest in the new launch.

https://www.squarefoot.com.sg/market-watch/shoebox-units <-- can go there and see all the 1 bedders in the area around rezi, take note of their names and search on guru / srx for the listings/transaction value
 

starry9t

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Hi coolstrawberry and kiatme, thank you both for your valuable insights.

I've been looking at resale FH units in geylang area too, not much option due to very limited cash on hand. Will keep looking and saving up at same time..
 
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