Treasure at Tampines

[NiShiZhu]

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..

I would suggest since u r still saving up for 1 bedder investment, why not take it slow until u have enough bullet to pay in full, then use your spouse/parent name to buy the property to avoid ABSD. Make sure your spouse/parent has no existing property on hand.

Of cos, I’m not sure about your financial status. Usually for Low quantum property, I will try pay in full and not buy under my name. Another way is u can find like minded pple that are close to u to invest together for a start. (Just in case u saw a project worth buying)

 

[starry9t]

I've been thinking of using spouse name, but my spouse doesn't have job and cannot get mortgage, and you're right, I would need to make full payment then. It will take years for me to save up the remaining amount (which is 75% of the sales value) and I'm worried property price will go up by a lot by then and there could be other cooling measures in place and further delay my plan.. there's also lost potential rental income within these years... I'm just really worried that if I don't buy as early as I can afford, I will never have the chance to get a second property at all..

I would suggest since u r still saving up for 1 bedder investment, why not take it slow until u have enough bullet to pay in full, then use your spouse/parent name to buy the property to avoid ABSD. Make sure your spouse/parent has no existing property on hand.

Of cos, I’m not sure about your financial status. Usually for Low quantum property, I will try pay in full and not buy under my name. Another way is u can find like minded pple that are close to u to invest together for a start. (Just in case u saw a project worth buying)

 

[NiShiZhu]

I've been thinking of using spouse name, but my spouse doesn't have job and cannot get mortgage, and you're right, I would need to make full payment then. It will take years for me to save up the remaining amount (which is 75% of the sales value) and I'm worried property price will go up by a lot by then and there could be other cooling measures in place and further delay my plan.. there's also lost potential rental income within these years... I'm just really worried that if I don't buy as early as I can afford, I will never have the chance to get a second property at all..

A few impt rules before u invest 2nd prop:
1) u must make sure your current house outstanding loan must be taken care of. (Eg, fully paid, or with saving that can last u for at least 2 years, in case touch wood, u are unemployed for a Long period of time).
2) if pt 1 is taken care of, while u set aside a sum for rainy days, u can then set aside a sum that are available for prop investment. If ur sum set aside for prop investment is not enough, u can find like minded siblings/someone close to u to co-invest together. This is how I started off. Bear in mind, u should not exhaust all your saving just for the sake of buying 2nd prop. Very dangerous. U never know when u need cash.

For example, I share with my Cousin to invest in prop, then years later, usually, I will pick the right time to sell off at a decent profit, then keep repeating a few times. Holding power is impt because it allows you to have control and decide the best time to sell. U need to have a clear enter and exit plan.
Also, try to explore ways to avoid or minimise ABSD.

Until when my funds became sufficient, I can now do it alone w/o the need to co-invest with her anymore.

Of course, need to do lotsa lotsa research to identify property that has good potential for capital gain. (Eg try to read widely, study trend, make comparison between different projects, study masterplan, pay attention to Govt policy and future plans etc)

This is easier in the past but getting tougher now (with more CMs). You can’t rush things. But when opportunity came, don’t procrastinate.
A lot of beginners die die must buy FH prop. FH prop not necessary always good. U buy the wrong FH also will loss money, likewise, not all LH prop are bad. Always Keep an open mind.

My only advantage is both me and my wife’s income are pretty stable and thus, loan approval is usually not an issue. In your case, since u are the sole breadwinner. So gotta be extra careful.

 

[1993newbie]

https://www.todayonline.com/singapo...ond-most-expensive-housing-market-cbre-report


Wewwwwwww. Singapore is world’s second-most expensive housing market.

 

[NiShiZhu]

https://www.todayonline.com/singapo...ond-most-expensive-housing-market-cbre-report


Wewwwwwww. Singapore ranked second most expensive city to buy a home.

Not forgetting, our property price increase rate is pale in comparison compared to other countries. We are ranked 27th place. With Average price growth only 1.1%.
This ain’t surprising while Singapore remains as an attractive country for business/financial hub, good infrastructure, politically stable and secured country, we also need to thank the govt for our effective CMs.

https://forums.condosingapore.com/s...d-s-2nd-priciest-private-property-market-CBRE

 

[1993newbie]

Ohh yes ,up moderately still okay de. Let me take a breather and save up again. Maybe another 1 bedder before I turn 30?

For now, save save save. CM lifted or not, only time will tell.

Not forgetting, our property price increase rate is pale in comparison compared to other countries. We are ranked 27th place.
Thanks to our effective CMs.

https://forums.condosingapore.com/s...d-s-2nd-priciest-private-property-market-CBRE

 

[NiShiZhu]

Ohh yes ,up moderately still okay de. Let me take a breather and save up again. Maybe another 1 bedder before I turn 30?

For now, save save save. CM lifted or not, only time will tell.

Trust me, CM won’t be lifted.
If this happens, all hell cfm breaks loose.

 

[1993newbie]

Aite aite. Only way is to save save save. Before 30 that’s the target.

Trust me, CM won’t be lifted.
If this happens, all hell cfm breaks loose.

 

[SBC]

A few impt rules before u invest 2nd prop:
1) u must make sure your current house outstanding loan must be taken care of. (Eg, fully paid, or with saving that can last u for at least 2 years, in case touch wood, u are unemployed for a Long period of time).
2) if pt 1 is taken care of, while u set aside a sum for rainy days, u can then set aside a sum that are available for prop investment. If ur sum set aside for prop investment is not enough, u can find like minded siblings/someone close to u to co-invest together. This is how I started off. Bear in mind, u should not exhaust all your saving just for the sake of buying 2nd prop. Very dangerous. U never know when u need cash.

For example, I share with my Cousin to invest in prop, then years later, usually, I will pick the right time to sell off at a decent profit, then keep repeating a few times. Holding power is impt because it allows you to have control and decide the best time to sell. U need to have a clear enter and exit plan.
Also, try to explore ways to avoid or minimise ABSD.

Until when my funds became sufficient, I can now do it alone w/o the need to co-invest with her anymore.

Of course, need to do lotsa lotsa research to identify property that has good potential for capital gain. (Eg try to read widely, study trend, make comparison between different projects, study masterplan, pay attention to Govt policy and future plans etc)

This is easier in the past but getting tougher now (with more CMs). You can’t rush things. But when opportunity came, don’t procrastinate.
A lot of beginners die die must buy FH prop. FH prop not necessary always good. U buy the wrong FH also will loss money, likewise, not all LH prop are bad. Always Keep an open mind.

My only advantage is both me and my wife’s income are pretty stable and thus, loan approval is usually not an issue. In your case, since u are the sole breadwinner. So gotta be extra careful.

I had spent lots of time and much patience to hunt for the correct FH property and completed my decoupling successfully to skip the ABSD.

The result is rather sweetening. Managed to save the previous 7% ABSD.

Cannot really imagine guys willingness to pay 12% now.

 

[ThinkCarefully]

A few impt rules before u invest 2nd prop:
1) u must make sure your current house outstanding loan must be taken care of. (Eg, fully paid, or with saving that can last u for at least 2 years, in case touch wood, u are unemployed for a Long period of time).
2) if pt 1 is taken care of, while u set aside a sum for rainy days, u can then set aside a sum that are available for prop investment. If ur sum set aside for prop investment is not enough, u can find like minded siblings/someone close to u to co-invest together. This is how I started off. Bear in mind, u should not exhaust all your saving just for the sake of buying 2nd prop. Very dangerous. U never know when u need cash.

For example, I share with my Cousin to invest in prop, then years later, usually, I will pick the right time to sell off at a decent profit, then keep repeating a few times. Holding power is impt because it allows you to have control and decide the best time to sell. U need to have a clear enter and exit plan.
Also, try to explore ways to avoid or minimise ABSD.

Until when my funds became sufficient, I can now do it alone w/o the need to co-invest with her anymore.

Of course, need to do lotsa lotsa research to identify property that has good potential for capital gain. (Eg try to read widely, study trend, make comparison between different projects, study masterplan, pay attention to Govt policy and future plans etc)

This is easier in the past but getting tougher now (with more CMs). You can’t rush things. But when opportunity came, don’t procrastinate.
A lot of beginners die die must buy FH prop. FH prop not necessary always good. U buy the wrong FH also will loss money, likewise, not all LH prop are bad. Always Keep an open mind.

My only advantage is both me and my wife’s income are pretty stable and thus, loan approval is usually not an issue. In your case, since u are the sole breadwinner. So gotta be extra careful.

Bro, very sound advice

 

[starry9t]

I had spent lots of time and much patience to hunt for the correct FH property and completed my decoupling successfully to skip the ABSD.

The result is rather sweetening. Managed to save the previous 7% ABSD.

Cannot really imagine guys willingness to pay 12% now.

no choice, 12% also must bite the bullet. i cant think of any other investment that will hedge against inflation when i retire (other than having kids maybe? but both my spouse and i decided not to go down this path). with a 2nd property, at least if inflation goes up like hell, one chicken rice $30, rental will also go up like $20k for a one bedder per month. if buy endowment plan, even if i pay a lot of premium now, 50 years later if only 2k payout per month, cannot even afford 3 chicken rice per day le.

and thinking about it, $30 per plate of chicken rice in 50 years time is probably being very optimistic..

 

[annetyu]

Trust me, CM won’t be lifted.
If this happens, all hell cfm breaks loose.

One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble

 

[ThinkCarefully]

Bro, I have a gut feel I will enter the market again looking at the future land bid price. But I need to wait for most mega project to clear first. It’s gonna be a long wait I Guess.
Now like déjà vu, I feel like I’m now in the 2013 cycle, the aftermath when TDSR and ABSD was implemented. (The tug of war era betw buyers and Developers)

It would become clearer in 9 to 18 months time because:

1) These new launches from higher land prices would be left with many unsold units e.g. Treasure still would have at least 1,500 units (my Guess) after one year (only sold about 200 units out of 22xx so far). You still have those in d19 and d13, plus many more.

2) those new land bid would start to launch. If the new plot at sims launch at 1,350 psf or below, it means market has not moved much (in fact fallen) and this Indicates that prices are on a clear down trend. If market is good and pick up, developers are smart enough to price for maximum profit.
For example, CDL admitted that they launched Whistler Grand at single digit margin (My guess is 7 to 9%) indicating that times are not so good and their bid was too euphoric . Else they would happily do 25 to 30% margin.
Treasure is launched at about 15% margin, which IMHO was not aggressive enough given 22xx units, but who knows they may do something later.
(Margin estimate : https://www.thetreasureattampines-official.com/price/)

3) macro economics, IMF says dark days ahead, so does our finance minister, so let the story unfold. ...

 

[SBC]

no choice, 12% also must bite the bullet. i cant think of any other investment that will hedge against inflation when i retire (other than having kids maybe? but both my spouse and i decided not to go down this path). with a 2nd property, at least if inflation goes up like hell, one chicken rice $30, rental will also go up like $20k for a one bedder per month. if buy endowment plan, even if i pay a lot of premium now, 50 years later if only 2k payout per month, cannot even afford 3 chicken rice per day le.

and thinking about it, $30 per plate of chicken rice in 50 years time is probably being very optimistic..

No kids now? Driver should not to have tax incentive.

I am having a few kids. Quite siong for family expenses!

 

[NiShiZhu]

One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble

Yes,
let me help everyone to recall.
Those who bought during the 2003 to 2006 era know best, we have been paying between 3.5% to 4% interest rate. I remember most of my monthly payment goes into paying the interest rather than the principal amount.
Between 2009 to 2015, we are in the era of 1% plus interest rate, I quickly call up my bank to shorten my tenure and clear as much loan as possible.

 

[NiShiZhu]

I had spent lots of time and much patience to hunt for the correct FH property and completed my decoupling successfully to skip the ABSD.

The result is rather sweetening. Managed to save the previous 7% ABSD.

Cannot really imagine guys willingness to pay 12% now.

Congrats bro! I also don’t believe in paying ABSD.
That’s y every time I chub a lot of pattern to avoid/minimise ABSD.

 

[matcha18]

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?

Ah, thanks for the correction. I thought you're referring to TOP year.

 

[blacklightthy]

Have you checked out Treasures? I heard it is the cheapest in the new launch market this year eh. Saw this that day thetreasureattampines-official.com

 

[zinedine]

One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble

I remembered reading a front page article of the local newspaper, can't remember was it in late 1990s or early 2000s.

A couple bought a condo for 600k+. There was an economic downturn and the price dropped to about 400k+. Bank asked them to cough up the difference. Of course they couldn't. Bank took their condo and they were saddled with a 200k debt and husband and wife have to slowly pay back the bank d 200k debt and at d same time no more condo...

 

[Broadwalk]

I want buy landed.