Treasure Crest

[mortal_azazel]

Thanks alot bro and sis for your valuable advice. It is really helpful as I wasn't considered this detail enough and missed out the remaining period of old condo, and unknown maintenance cost like we buy used car. Lots of risk involved and I gotta do more research.

 

[PostCountWarrior[+1]]

SK still has another ex EC, The Rivervale.
Now is having condo status. Go and check the price there

This is the best reference for EC investors.

Another fundamental aspect is supply and demand. Demand is slow but is always there, due to higher earning income for gen Y. Power of dua income for this group.

No of the supply & pending supply for Punggol, Seng Kang, Woodlands, Yishun & Sembawang are simply too much.

Check & see facts prior to your investment & not hear from agents itself.

http://www.propertyguru.com.sg/project-listings/the-rivervale-194?sort=psf&order=desc

wow full status condo going at around $700 psf only???

Knn, the agent tell me is 1000 psf, tell me sure make money one, and when leaving, he shake my hand congratulate me first for making easy money.

 

[MrFrankie]

WAHAHAHA. your agent power la. anyhow sell. EC will still remain an EC regardless even if after 10 years. possibly will rise a little, unless your location is bishan or ang mo kio.

Think about it, if you are buying a resale EC (even after 10 years), will you be stupid enough to pay a full condo price for it. And go look around at condos, almost all i seen so far has some unique feature that makes it more special and unique as compared to an EC.

 

[windwaver]

wow full status condo going at around $700 psf only???

Knn, the agent tell me is 1000 psf, tell me sure make money one, and when leaving, he shake my hand congratulate me first for making easy money.

A property agent is a sales person after all (their KPI is to earn $$ and hit target, can't blame them). Always do your homework before talking to any sales person. That's what I do for any product I am interested to buy, not just property.

 

[grix17]

Knn, the agent tell me is 1000 psf, tell me sure make money one, and when leaving, he shake my hand congratulate me first for making easy money.

The information is not wrong, but the agent may be trying to mislead you. Some plots can go as low as $700 psf, but some others in PC clusters can go for $900+ psf.

What they are telling the truth about is that ECs are subsidised so you will earn some money from the base price. How much you earn depends on economic and geographical factors.

 

[yeoster]

Went to TC showflat yesterday and submitted e-App.

Overall, I'm satisfied the layout and fittings. Only problem I have is the bathrooms. Hansgrohe taps but Rigel (local brand) WC and basins. The tiles in the master bedroom looks more dull than the common bathroom. Basically, the common bathroom feels more luxurious to me.

The open concept car park is not bothering me too much since drivers can still park right below their block. Although covered up like The Vales would be ideal. But, hey, no condo is perfect.

BTW, for the stacks 6 and 11 facing the roundabout, the future plan for the small plot on the right is for community institutions. Any idea what are these organisations? How high will they go?

 

[grix17]

Went to TC showflat yesterday and submitted e-App.

The open concept car park is not bothering me too much since drivers can still park right below their block. Although covered up like The Vales would be ideal. But, hey, no condo is perfect.

I think it's a clever way to save money on landscaping. Most condos use an elevated deck to integrate with level 1 so the carpark becomes basement 1.

 

[mortal_azazel]

Let's wait n see

 

[ChangWD]

Anybody took photos at the show flat? Can share?

 

[Peace08]

http://www.propertyguru.com.sg/project-listings/the-rivervale-194?sort=psf&order=desc

wow full status condo going at around $700 psf only???

Knn, the agent tell me is 1000 psf, tell me sure make money one, and when leaving, he shake my hand congratulate me first for making easy money.

Thanks for the link.
WOW... The EC price didn't really appreciate? Punggol cheaper than SK?
Then this TC is really not cheap!
Still dare to ask for 735-755psf

 

[mortal_azazel]

Totally agreed that most EC r overpriced and looking at those full condo only hit 700psf... How much more do we expect after it reach 5-10 years from current 780psf price

 

[ChangWD]

And the floor plan given to us is plain floor plan, can't really have a good gauge on the space without the furniture drawn... Looks like a HDB floor plan... ...

 

[Advancer]

Thanks for the link.
WOW... The EC price didn't really appreciate? Punggol cheaper than SK?
Then this TC is really not cheap!
Still dare to ask for 735-755psf

The rivervale was an EC launched more than 10 years ago.
Back then the price was prob only $300-400 psf.
Look at how it has appreciated over the years.

 

[mortal_azazel]

10 years ago got SARS, Lehman, USA downturn... And now Brexit but don't forget about cooling off measure, control of immigrants.

 

[PostCountWarrior[+1]]

The rivervale was an EC launched more than 10 years ago.
Back then the price was prob only $300-400 psf.
Look at how it has appreciated over the years.

https://www.icompareloan.com/resources/price-movements-of-ecs/

33% of rivervale units were sold at a loss.

I noticed the agents when talking about EC, keep talking about Bishan Loft. But how many ECs really in good area? Got many ECs shown in the list were sold at a loss, as high as 50% even. Also this study was done in 2013, at the market high, we are now at 2016 and the price is much lower, especially for those outside city fringe.

 

[ecobuyer]

To put things in perspective, property prices last peaked in 2013.

Not just rivervale, but other condos, HDB resale prices too have fallen after 2013.

A 3-bedroom resale rivervale unit was selling for $5XX,XXX to $6XX,XXX in 2009-2010.

The same 3-bedroom rivervale unit was selling for about $1mil in 2013 - 2014.

So if you bought a 3-bedroom resale unit in 2009-2010 and sell it in 2013-2014, you would have made almost 100% capital gain or about $100,000 per year.

Conversely, if you bought in 2013-2014 and sell now, you would have made a loss.

So, it depends on when did you buy and when do you sell.

We also have to ask what is the amount of gain/ loss over the time period analysed.

Is it fair to compare with the peak prices? What should be a more reasonable period? If you compare property prices in the last 8 years, property prices in general have increased 60% to 70%. If you compare property prices in the last 3 years, property prices have decreased 10%.

For those planning to buy a property now, this is a good news in the sense that you are buying about 10% cheaper than those who bought in 2013-2014.

 

[Pynchmail]

For $30 psf more (about 4%), would you rather have a brand new condo or a 15 year old unit? In 15 years time, when you sell, the now new condo will still have 80+ years remaining lease, while the 15 years old condo will be 30+ years old. Do you think the price difference then will still be just 4%?

 

[Arrowfish]

Thanks for the link.
WOW... The EC price didn't really appreciate? Punggol cheaper than SK?
Then this TC is really not cheap!
Still dare to ask for 735-755psf

You have to consider the age of the EC bro as well as the area. Also, the higher the sf, the psf tends to lower.

 

[celeste_blur]

but the agent hao siao me, tell me Seng Kang Condo sell at 1k PSF!!! tell me this is cheap!!!

pcw +1

Yes. La Fiesta directly opposite Sengkang Mrt there. Selling $1kpsf

Personally i will only commit to TC if its $680psf or lesser. Otherwise no way. Their land price is about $80psf cheaper than wandervale so i dont wanna be carrot head

 

[ecobuyer]

Yes. La Fiesta directly opposite Sengkang Mrt there. Selling $1kpsf

Personally i will only commit to TC if its $680psf or lesser. Otherwise no way.

According to URA records, there were 7 transactions for the latest month of June 2016 for La Fiesta.

The lowest psf was $1,091 psf for a Level 01 to 05 1,367 sq ft unit.

The highest psf was $1,309 psf for a Level 11 to 15 1,367 sq ft unit

Source: URA