Treasure Crest

[sk0065]

I have a colleague that keeps reminding me that the prices of EC are going to increase over the years, if I am not getting one now, I will probably lose out. What do you think?

he can say whatever he wants.
cos he don't have invested interest - end of the day, say for fun only.

your $$, u ownself judge better.

 

[ysh1985]

You should buy only if you feel the price is right after doing your homework. This includes looking at the transacted price of nearby properties (with some discount/ adjustment based on location and age of the properties). In addition, you also have to consider issues that a resale buyer will consider if you intend to move out in the future, such as the facing of the property, the location, the surroundings etc.

In all honesty, your friend's advice is not a sound advice.

 

[ecobuyer]

Another EC to be launched in Sengkang

There is one more EC land parcel in Sengkang that is open for tender now.

According to the Straits Times article, this land parcel could be even cheaper.

http://www.straitstimes.com/busines...-site-up-for-tender-may-be-only-one-this-year

 

[celestialt05]

Hi ecobuyer

The problem is that I am not familiar with all this. I will try to check the URA website and see how the market is going forward.

 

[ecobuyer]

Another private condo land pacel next to High Park Residence

There is one more EC land parcel in Sengkang that is open for tender now.

According to the Straits Times article, this land parcel could be even cheaper.

http://www.straitstimes.com/busines...-site-up-for-tender-may-be-only-one-this-year

If you prefer private condo, there will be a land parcel next to High Park Residences that will be open for tender this Aug.

Like High Park Residences private condo, it is just next to a Sengkang LRT.

[For info, High Park Residences private condo sold more than 1,000 units on its launch last year as the developer priced most of the units quite competitively. The developer bought the land parcels at about $440 - $450 psf. The units start from around $850 psf for a private condo]

You can check out the upcoming Sengkang/ Fernvale Private Condo in URA website for the details.

https://www.ura.gov.sg/uol/media-room/news/2016/jun/pr16-36.aspx

 

[sk0065]

There is one more EC land parcel in Sengkang that is open for tender now.

According to the Straits Times article, this land parcel could be even cheaper.

http://www.straitstimes.com/busines...-site-up-for-tender-may-be-only-one-this-year

EC land sale is always publicly available information.

http://www.hdb.gov.sg/cs/infoweb/bu.../buying-land-land-sales/government-land-sales

 

[mortal_azazel]

Can email me too? Mortal_azazel@yahoo.com.sg

ysh1985, I can't pm you the price list in PDF. Do you want me to send it to your email add?

 

[Emo_Rhino]

There is one more EC land parcel in Sengkang that is open for tender now.

According to the Straits Times article, this land parcel could be even cheaper.

http://www.straitstimes.com/busines...-site-up-for-tender-may-be-only-one-this-year

cheaper no use one, will release same price as market, like our beloved TC developer

 

[ecobuyer]

I quite like this upcoming EC (land parcel now open for tender) as it is just next to a park connector and faces "Sungei Punggol"

Opposite this upcoming EC (separated by "Sungei Punggol" is the whole stretch of private condos [H20, Rivertree, Riverbank private condos]

Quite a scenic place.

 

[Kuinny]

a HDB 5 room - monthly conservancy fees btw $70-90
carpark - between 70-90 (gonna increase soon in Oct 2016, remember?)

say using 150-200 is the fixed cost anyway.....


using the pool /gym/function room
with 24 security guard for 100+ a month....
worth it or not? i think not bad.

Car park fees should not be counted as it is a variable cost. One can choose to give up car during bad times. However, once you buy a ec or pte condo, this maintenance fee is a fixed cost which you must pay regardless good or bad times. As for security fee, is this a necessity that one really must have? Is staying in HDB unsafe? Think again...

 

[Kuinny]

Personally, I wouldn't (I believe you are looking at those inward looking 3 Br P2, in NNW facing). Firstly, it is not that convenient (despite how they advertise it as walkable to LRT/ MRT). Secondly, I believe traffic may be quite bad once everything (i.e., schools, hospital, residential units) is up. Thirdly, the price difference between the inward looking units and the outlooking units belonging to the same block appears too wide to me (however, this could be justifiable on the fact that those outward looking units could be nosier since they are facing the expressway).

Agree that the location not ideal and might have noise pollution too cos near to hospital and schools. Imagine waking up to the ambulance siren during the wee hour of the night and also the school bell ringing in the early morning with screaming kids....But of course if lock windows then should be no issue assuming the units are sound proof.

 

[ChangWD]

http://www.simlian.com.sg/wp-content/uploads/2016/06/Term-and-Condition.pdf

U all can read this for info, it got mentioned on the resale levy also... Inside mentioned to pay the resale levy at the HDB branch then bring along the receipt of payment to book the unit...

 

[celeste_blur]

Maybe Luxurie could be a fairer comparison?

Those are pte condos whereby you can sell anytime you want. ECs are different. You will be "stuck" with it for 2+5 years = 7 years. If i wanna compare i will compare Compass Heights with La Fiesta but Compass Heights win on location alreadh. If you factor in that it is 12 years older than La fiesta then how much rental can you earn from it over 12 years after removing ppty tax, maintenance fees, maintaining the unit etc. Even if i deduct all these i would think Compass Heights is more worthwhile than La Fiesta. Location wise win hands down as it is right on top of the mrt/shopping mall, bus interchange.

 

[Urahara86]

he can say whatever he wants.
cos he don't have invested interest - end of the day, say for fun only.

your $$, u ownself judge better.

totally agree! individual family has its own level of commitment!
buy with the best interest and do not overstretch!

singapore is already stressful enough!

anyway the poolview stack 30 pricing is turning me off..may not go for balloting..

 

[celeste_blur]

I have a colleague that keeps reminding me that the prices of EC are going to increase over the years, if I am not getting one now, I will probably lose out. What do you think?

Nowadays the EC locations are not great hence price appreciation definitely cant be great. They like to keep using Bishan Loft, Nuovo all these to compare but they forgotten that these ECs are in a mich better location.

 

[Urahara86]

Agree that the location not ideal and might have noise pollution too cos near to hospital and schools. Imagine waking up to the ambulance siren during the wee hour of the night and also the school bell ringing in the early morning with screaming kids....But of course if lock windows then should be no issue assuming the units are sound proof.

i believe that most of us should be at work but it should be more peaceful at night with the school ending its day too!

for the ambulance siren, that one no choice, at least on a more positive side, we know one life is being attended to and chances of surviving is there!

 

[Kuinny]

I have a colleague that keeps reminding me that the prices of EC are going to increase over the years, if I am not getting one now, I will probably lose out. What do you think?

Actually this is what my property agent been telling me that I will "lose out" if I don't buy now. Anyway, I take it with a pinch of salt as agents got their own interest to fulfil that is making you buy that property and earning your commission. Whether or not you encounter any problems in the future is not their business. But you are the one facing the music when things go wrong.

So it depends on which position you are taking depending on your financial standing. You buy now is with the assumption that in 8-10yrs time property prices will appreciate more than your purchase price including extra cost incurred (resale levy for 2nd timer, reno cost, loan interest) assuming you have the holding power. You don't buy now is because you believe property prices will continue to go down further in the next few years and you are waiting for the right time to hoot as you want to get the best value for your $.

On a different perspective, even if you don't buy and supposedly miss out the opportunity, what is so bad about holding on to your hard earn cash/cpf? With cash, you can have more flexibility of putting it into FD, bond, shares etc depending on your risk appetite to grow ur $$. With CPF, you can have risk free interest earning at least 2.5% in your OA and more $$ for your retirement (CPF Life).

Make your own call bah

 

[Arrowfish]

Actually this is what my property agent been telling me that I will "lose out" if I don't buy now. Anyway, I take it with a pinch of salt as agents got their own interest to fulfil that is making you buy that property and earning your commission. Whether or not you encounter any problems in the future is not their business. But you are the one facing the music when things go wrong.

So it depends on which position you are taking depending on your financial standing. You buy now is with the assumption that in 8-10yrs time property prices will appreciate more than your purchase price including extra cost incurred (resale levy for 2nd timer, reno cost, loan interest) assuming you have the holding power. You don't buy now is because you believe property prices will continue to go down further in the next few years and you are waiting for the right time to hoot as you want to get the best value for your $.

On a different perspective, even if you don't buy and supposedly miss out the opportunity, what is so bad about holding on to your hard earn cash/cpf? With cash, you can have more flexibility of putting it into FD, bond, shares etc depending on your risk appetite to grow ur $$. With CPF, you can have risk free interest earning at least 2.5% in your OA and more $$ for your retirement (CPF Life).

Make your own call bah

Well.. one can wait for 3-5 years to drop... but if you are starting a family or upgrading due to bigger family... time is not by your side.

If the unit is what you wanted or intend to have, go for it.

All is not about money.....

If you wait for 30 years , I'm sure any flats that you see will probably drop..

 

[ecobuyer]

totally agree! individual family has its own level of commitment!
buy with the best interest and do not overstretch!

singapore is already stressful enough!

anyway the poolview stack 30 pricing is turning me off..may not go for balloting..

Buying within one means is only part of the consideration.

I'm reading today Straits Times and it saddens me that we are seeing more divorces and less marriages.

Last year, we have 7,522 divorces and annulments (Pg B3 of The Straits Times).

No one expect the marriage not to work out.

Suppose that one can longer form a family nucleus eg due to divorce in the next 8 years, one has to "surrender" the new EC.

Do consider this carefully in deciding whether to buy a new EC and ensure your marriage really work in the next 8 years.

Last thing you want to pay is termination fees after you "surrender" your EC.

 

[PostCountWarrior[+1]]

Frankly speaking, spending so much money like $800k-$1m++ on a ec/condo for a 99yr development in current economic situation is just way too high. Don't forget the monthly maintenance fee of $300++ just for using some recreational facilities like swimming pool, gym and etc is really not worth it.

You can just take a LRT to Farmway for the Anchorvale CC which has feature pool and a nice gym which only cost you at most $2.50/adult for a weekend use. Even if you include return LRT fares make it another $2 for easy calculation, it's only at most $4.50+- for a visit to Anchorvale CC from other parts of Sengkang. Comparing the $300++ maintenance fees which you would probably only go once a week to utilize the condo facilities, it is really a hefty premium you are paying!

But of course if you have loads of cash with an iron rice bowl then why not? Too much $$ also need to be spend somewhere and EC is still cheaper than a pte condo. But for those with not much cash position and need to take up a high loan amount to service monthly installment for the next 20-30 years, think thrice.

The current unclear economic situation with increasingly higher number of layoffs are some of the tell tale signs. it will be painful and stressful if you lost your rice bowl yet still have to continue servicing your high loan installment and interest to the bank every month.

Don't forget this is EC, need to hold at least 5 years upon TOP before selling off to fellow SG citizens/PR and 10 years to be able to sell to foreigners.

So that means, if something goes wrong and you need to sell it, you cannot sell it readily in the open market. You need to make sure you have enough position to service your instalment and hold for the next 8 years minimally (including the time to complete building assuming 3 yrs + 5 yrs MOP) as contingency.

I won't be surprise when the whole lot of recent EC launches reaches its 5 years MOP, there might be lots of desperate ec sellers....

Actually this is what my property agent been telling me that I will "lose out" if I don't buy now. Anyway, I take it with a pinch of salt as agents got their own interest to fulfil that is making you buy that property and earning your commission. Whether or not you encounter any problems in the future is not their business. But you are the one facing the music when things go wrong.

So it depends on which position you are taking depending on your financial standing. You buy now is with the assumption that in 8-10yrs time property prices will appreciate more than your purchase price including extra cost incurred (resale levy for 2nd timer, reno cost, loan interest) assuming you have the holding power. You don't buy now is because you believe property prices will continue to go down further in the next few years and you are waiting for the right time to hoot as you want to get the best value for your $.

On a different perspective, even if you don't buy and supposedly miss out the opportunity, what is so bad about holding on to your hard earn cash/cpf? With cash, you can have more flexibility of putting it into FD, bond, shares etc depending on your risk appetite to grow ur $$. With CPF, you can have risk free interest earning at least 2.5% in your OA and more $$ for your retirement (CPF Life).

Make your own call bah

To add on, consider your alternative, say a BTO or resale which cost much lesser. Unless you already have a large pile of cash lying somewhere, chances are you are going to pay using your monthly salary, with the cap at 14k, lets assume you need to pay around 2k to 3k monthly and assume you and wife both make 7k each. if one gets fired, 3k is nearly half ur monthly income, and worst is if one partner earns proportionally more, say 10k+4k, and the 10k one gets fired, things will be really tight for the 4k one.

honestly i think there is capital appreciation to EC, but there are many other ways to make money too. if u buy city fringe resale, the time u spent traveling up and down can be put to other money uses, like able to work overtime. The money u saved by paying lower mortgages can be used to invest in other ways. Also ask yourself u buy this EC, will you be able to sleep better and not worry everyday whether your or ur partner gets fired?

And to be honest, earning up to 14k is peanuts in today's Singapore. The cap used to be lower, I really find it hard to see how people earning below 10k can buy a 1mil EC. Also ask urself why those earning below 12k are going for BTOs instead of rushing for ECs if EC is so easy to make money as claimed by various sources?