Treasure at Tampines

[Pokémon]

Past transactions (which u can easily checked from online) have already shown many owners of less-than-perfect condos at less-than-perfect locations are quietly laughing their way to their banks.... while some upmarket condos at much better locations are stil losing money for their owners.

Immediately think of the recently TOP Kingsford Waterbay...

 

[iphone1s]

There’s no perfect condo in this world.

Which projects can boost to have all of the following?

- within 5-10min walk to mrt and tons of amenities
- not many units so less competition in terms of rental, sales & facilities usage
- cheap maintenance fees
- high rental demand & yield
- high capital appreciation
- very spacious, efficient layouts for all living, dining & bedrooms
- highest standard of premium fittings & finishing
- within 1km to prestige schools
- at a super convenient yet non-crowded location...

So on and so forth… u get my gist.

If heng heng there’s one, u’ll be assured developer will price it at much premium pricing to reflect its ‘perfectness’. They are in the business of making $$, not losing it.

E.g. If Tapestry is at a better location, CDL would have being selling it at higher prices, perhaps at least $200psf more

Hence, it all boils down to what u want, what is more important to u and how much u willing to pay for it.

Past transactions (which u can easily checked from online) have already shown many owners of less-than-perfect condos at less-than-perfect locations are quietly laughing their way to their banks.... while some upmarket condos at much better locations are stil losing money for their owners.

I like your train of thoughts.

However. we are dealing with disillusioned Singaporeans here who wishes to make a quick buck by having light ears to the market trends.

I (personally) always advocate that Singapore's golden years are 1990s to 2000s. We did not have ipads back then, life was much simpler and I was always looking forward to go home to watch TMNT.

Granted that some private home owners suffer the brunt of the cooling measures, but with the right perspective, this is to protect the property market, or Singaporeans at large. Please, I am not a government supporter nor basher.

My advise for those who are thinking of making some cash out of trends, then I would advise you to think again.

1. 20 years ago, ipad was almost non-existent (if you get what i mean) Can you bear the fluctuation with the test of time? Now, imagine if you have bought the "prime" unit in Sentosa, you are losing more than 40% of the initial price
2. Are you going to stay single and move around like nomads? How about your kids education? Are they going to school hop?
3 So you bought a condo at $850k, you sell it at $1.1M. Whats next? downgrade to HDB? Have you considered your renovation for the condo and the next unit you are moving in? You buy premium condo but sleep on tilam and eat maggie? Then downgrade to HDB? $1.1M - $850k = $250k. Is that the true amount after 5 years and deducting the reno and all?

What I noticed about prudent couples. Pain Pain one time, they buy a HDB/condo which they can afford. Most of them go for 5 room, or the biggest condo which they can afford. They pay off the loan. And do u notice there are more and more expensive cars in HDB carparks? Because most of them are debt free. They drive a nice car, live in a loan-free unit. renovate the house every 15 years.

Everything is in inverse relation. In Singapore, unless u are Peter Buffet Lim, you can't live a life of riley. Don't drive a big car, stay in a big house and eat maggie noodles and luncheon meat from 25 years onwards and then downgrade to a HDB after u cash in on your cheap trill.

This is wad we call giam cai mia.

 

[TeamUSA]

The mrt is too far for my liking. 2200 units a bit hard to rent out right for investment. The poor quality of wood in the showroom is a big concern for me. Especially the toilet one. Poor design for the toilet cabinet.

Look closer and you will find other things in the showroom that weren't promising:

1. the build and finish of the kitchen top is very bare and basic
2. the design of the balcony grill and paintwork is simply terrible, it looks like those poorly painted metal handrails you find in hdb common area stairwell.

 

[TeamUSA]

There’s no perfect condo in this world.

Which projects can boost to have all of the following?

- within 5-10min walk to mrt and tons of amenities
- not many units so less competition in terms of rental, sales & facilities usage
- cheap maintenance fees
- high rental demand & yield
- high capital appreciation
- very spacious, efficient layouts for all living, dining & bedrooms
- highest standard of premium fittings & finishing
- within 1km to prestige schools
- at a super convenient yet non-crowded location...

So on and so forth… u get my gist.

If heng heng there’s one, u’ll be assured developer will price it at much premium pricing to reflect its ‘perfectness’. They are in the business of making $$, not losing it.

E.g. If Tapestry is at a better location, CDL would have being selling it at higher prices, perhaps at least $200psf more

Hence, it all boils down to what u want, what is more important to u and how much u willing to pay for it.

Past transactions (which u can easily checked from online) have already shown many owners of less-than-perfect condos at less-than-perfect locations are quietly laughing their way to their banks.... while some upmarket condos at much better locations are stil losing money for their owners.

No one is saying this project or any project has to have everything. There's however a large difference between buying for own stay and investment.

If you are buying for own stay and happy with the location, facilities, size of unit and layout, amenities nearby and price (or if you can live with the "weaknesses" of the property) then by all means go ahead.

For investment and/or rental the criteria should be much stricter for investors. With the current regulatory environment and political climate, do you think that the cooling measures will be removed anytime soon? I also don't think its appropriate to compare with gains investors made in a previous market cycle (ie they may have bought in around 2009/10) and/or prior to the 2 latest rounds of cooling measures.

 

[Clazav]

True that I also observe that there are more BMW, Mercedes, audi in hdb carpark. I'm thinking whether is it they can't buy additional or upgrade property, so they rather just buy an expensive car and live in a well renovated hdb.

 

[microtek]

Re: Expensive cars in HDB carparks. Maybe to some people an expensive car > expensive housing. To each his own. I personally rather stay in condo then take taxi or public transport to get around.

 

[Hyruga]

True that I also observe that there are more BMW, Mercedes, audi in hdb carpark. I'm thinking whether is it they can't buy additional or upgrade property, so they rather just buy an expensive car and live in a well renovated hdb.

Nowadays bmw is the new standard as COE price is low. And if they like Jap car, then lexus or large suv is the way.

 

[Clazav]

I thought coe high then we should get BMW? Because the percentage difference is less?

Nowadays bmw is the new standard as COE price is low. And if they like Jap car, then lexus or large suv is the way.

 

[fotoudavid]

Immediately think of the recently TOP Kingsford Waterbay...

They lose money or earn money? Thought this project is OK.

 

[NiShiZhu]

Tks bro for the advise. I was looking at the 5br to stay in but just worried might be congested. The 4BR at tapestry looks quite interesting with the dual key units. Yes priced increased Frm what I saw the first time. I thought the concierge for The Tapestry also v good. I’m such a sucker for service. Lol

For 2br investment I recently went to see Rezi 24. Like not bad and I feel gd cap and rental returns, gr8 entry price.. but no bullets. Need to focus on buying 1 for own stay.

Like u, I was looking for 4/5 bedder for self stay some times back. Was tempted to go for tapestry 4 bedder (1432sqft) selling at 1.7x mil but was turned off by its location. Then went riverfront, 5 bedder was quoted 2.06mil which to me was reasonable (due to generous space), however, I didn’t commit becos location wasn’t fantastic (though better than tapestry) plus over 1400 units. Finally I ended up getting a slightly smaller 4 bedder unit With mrt at door step, many eateries around, near shopping Malls which I feel it’s more convenient for my Aging parents. I also don’t like projects that has more than 1000 over units. Lack exclusivity and privacy.
Treasure 5 bedder in my opinion is the cheapest u can get in the current market (frm 1.87mil plus) but may not be conducive to stay with 2203 units around.

For investment condo, I usually look at RCR area with less than 500/600 units, proven rental yield around the area, preferably near office, shopping Malls, circle line etc. 2 bedder is a sweet spot if buy for investment. You tend to have larger tenant pool.

 

[Pokémon]

They lose money or earn money? Thought this project is OK.

Earn. My wife said ulu, so I had to buy another higher psf project instead.

 

[pippo20]

Earn. My wife said ulu, so I had to buy another higher psf project instead.

Earn on paper nia. Buyers who sell now in this market and SSD is loss.

 

[Pokémon]

Earn on paper nia. Buyers who sell now in this market and SSD is loss.

Lets see in April when more owners cross the holding period.

 

[aphel14]

No one is saying this project or any project has to have everything. There's however a large difference between buying for own stay and investment.

If you are buying for own stay and happy with the location, facilities, size of unit and layout, amenities nearby and price (or if you can live with the "weaknesses" of the property) then by all means go ahead.

For investment and/or rental the criteria should be much stricter for investors. With the current regulatory environment and political climate, do you think that the cooling measures will be removed anytime soon? I also don't think its appropriate to compare with gains investors made in a previous market cycle (ie they may have bought in around 2009/10) and/or prior to the 2 latest rounds of cooling measures.

1st round of cooling measures was implemented back in Feb 2010 and last year’s 5th July one was the 8th round.

But how have the prices been going?

See below chart (the part labelled 'Feb 2010' onwards) to form your own judgement as facts & figures don’t lie.

Its precisely the unique situation of Singapore that is conducive & attractive for property investments for locals & foreigners...

- Political stability (not a govt supporter, just calling a spade a spade)
- Economic stability
- Measures to keep market stable
- Tight quality control
- Limited land
- Population growth
- GDP growth etc

See: https://www.99.co/blog/singapore/singapore-property-market-safe-haven/

Would you prefer a property market with more stable, sustainable growth / capital appreciation.... or a steep rollercoaster up & down, bubble forming & bursting, huge-risk, market-crashing type of environment?

Yes, might be a multi-millionaire in double quick time but can also be a bankrupt many times over.

How many can stomach this kind of gamble besides those who already having deep pockets to start with?

Hence, local properties are for those looking for a real physical asset (which can live in) to invest in that not only provide stable returns, but also beats inflation and having one of the lowest risk an investment can get.

If looking at higher returns (with higher risk of cos), better off to invest in stock & shares, options, trading, foreign currencies etc.

 

[NiShiZhu]

Lets see in April when more owners cross the holding period.

I thought this project took quite some time to TOP (due to some BCA safety issues) and should have crossed the SSD period? (More than 3 yrs)

 

[NiShiZhu]

Earn on paper nia. Buyers who sell now in this market and SSD is loss.

How to lose money when this project is bought at 11xxpsf during launch.
Now Chao Chao 13xxpsf on average. (Based on URA recent caveat lodge)
Unless buyer faced finically difficulty and desperate to sell.
But this project got delayed becos of BCA safety issue.

 

[Pokémon]

I thought this project took quite some time to TOP (due to some BCA safety issues) and should have crossed the SSD period? (More than 3 yrs)

Those who purchased the properties prior to 11 March 2017, would be subjected to 4 years of holding period to avoid SSD.

Those who purchased after, would be subjected to 3 years only.

 

[microtek]

Now with 12% ABSD on second property purchase I doubt you can make any money upon TOP if you're looking to invest.

 

[NiShiZhu]

Earn. My wife said ulu, so I had to buy another higher psf project instead.

Alamak, if u sell now and if u buy new project means u gotta wait for another 3-4 years to TOP?
Unless u looking for resale or u currently have a place to stay.

I’m also waiting for my project to TOP.

 

[microtek]

How to lose money when this project is bought at 11xxpsf during launch.
Now Chao Chao 13xxpsf on average. (Based on URA recent caveat lodge)
Unless buyer faced finically difficulty and desperate to sell.
But this project got delayed becos of BCA safety issue.

I did some digging and yes, it launched at $1,050 to $1,180psf
https://www.businesstimes.com.sg/real-estate/140-kingsford-waterbay-units-go-in-one-weekend-amended

No clue why people are buying at 1,3XXpsf for that kind of ulu location. Around it got so many condos competing for tenants & buyers also.