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Thread: Melosa-Geylang Lorong 28 by Ecco Properties

  1. #31
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    Quote Originally Posted by mcmlxxvi
    How can you plonk down hard earned money without doing research??? Aiyo...

    Anyway since you bought liao Melosa is not a bad project la. It's the first Geylang project with sky pool woh....... good for bragging rights...
    yes, is true and i am a very "kang cheong" and also do not know who to ask. ... sad le ... sad ... if anything is not in prefect i will call the agent and scold her

  2. #32
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    Quote Originally Posted by cytan6613
    yes, is true and i am a very "kang cheong" and also do not know who to ask. ... sad le ... sad ... if anything is not in prefect i will call the agent and scold her
    good luck!

  3. #33
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    Default Melosa

    Oh, I have also bought the Melosa and already signed the sales & purchase agreement. A bit worry now, whether will I be able to sell or rent it out after the TOP. Should have known this forum earlier. The agent is such a good talker, no intention to buy in the 1st place but somehow don't know why end up with the purchase. Hope that everything turns out to be good as what the agent told me about the Paya Lebar Hub which will attract more people.

  4. #34
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    One word of advice. Never, ever buy mei mei units no matter what.

  5. #35
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    I think Melosa might has its potential, if not why are the big banks willing to grant the loan, like DBS, UOB, OCBC & Maybank. If you have no other outstanding property loan, they can grant you up to 80% except OCBC (70%) but if you request, there is a possibility that you can get up to 80% loan depending on your personal profile. I had called up the DBS bank to check on the loan. She told me that normally they don't grant the loan to those even number in Geylang up to Lorong 30 because of some sensitive issue, but when I told her that my property is Melosa, after checking, she said that this is one of the property in the list that they will grant the loan. So I really hope for the best.

  6. #36
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    Quote Originally Posted by irisng
    I think Melosa might has its potential, if not why are the big banks willing to grant the loan, like DBS, UOB, OCBC & Maybank. If you have no other outstanding property loan, they can grant you up to 80% except OCBC (70%) but if you request, there is a possibility that you can get up to 80% loan depending on your personal profile. I had called up the DBS bank to check on the loan. She told me that normally they don't grant the loan to those even number in Geylang up to Lorong 30 because of some sensitive issue, but when I told her that my property is Melosa, after checking, she said that this is one of the property in the list that they will grant the loan. So I really hope for the best.
    Bcos is new project, if banks don't provide the loan. developers can't sell.
    wait til ur melosa is older. then banks will treat it as a normal condos at lor 2-30. loans will be an issue. new projects are "special".
    * u can quote an existing condo in the vicinity for loan. to get a clearer picture. if loan is not a issue. I might haf alrdy own a few units there during the yr 2008-2009 purchases. but banks told me loan 60%, which means instead of buying 2units. I be buying only 1
    Last edited by jwong71; 17-04-11 at 16:13.

  7. #37
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    At that time, I had checked with the financial consultant why they agree to grant the loan to this project and she told me that most probably their bank had sent their internal control dept staff to check on this project.

  8. #38
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    Quote Originally Posted by irisng
    I think Melosa might has its potential, if not why are the big banks willing to grant the loan, like DBS, UOB, OCBC & Maybank. If you have no other outstanding property loan, they can grant you up to 80% except OCBC (70%) but if you request, there is a possibility that you can get up to 80% loan depending on your personal profile. I had called up the DBS bank to check on the loan. She told me that normally they don't grant the loan to those even number in Geylang up to Lorong 30 because of some sensitive issue, but when I told her that my property is Melosa, after checking, she said that this is one of the property in the list that they will grant the loan. So I really hope for the best.
    Melosa is good if there is no casa aerata, la brisa and la fleur around. But luckily u brought a 2 bedder, rental wise still a not bad return. Dun forget there are more and more new projects coming up, as long as ur top is earlier than them, rent it out is not an issue.

    The skyline of geylang will definitely change maybe after 10 years i think? If u can hold it longer definitely no problem to gain

  9. #39
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    Actually, I am thinking should I sell if off after the TOP or should I rent it out? Will there be any problem to sell at a certain profit margin?

  10. #40
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    Sorry, I should say Geylang properties have its potential and not just Melosa.

  11. #41
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    Quote Originally Posted by irisng
    Sorry, I should say Geylang properties have its potential and not just Melosa.
    hi kakilang ... next time we can go out drink drink lo, by the way u buy for investment or own stay?

  12. #42
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    I bought it for investment but my son likes the area not because of "those people", but because of the good food and locations (mins to town). Sometimes, he'll bring his girlfriend all the way from West to this place just to eat and go home, and sometimes with my brother/sister-in-law. He said if nobody wants to rent or buy, he'll rent or buy from us but you know, son and parents, very difficult lor.

    How about you, for investment or own stay?

  13. #43
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    Quote Originally Posted by irisng
    Actually, I am thinking should I sell if off after the TOP or should I rent it out? Will there be any problem to sell at a certain profit margin?
    Are u affected by the 16% Seller Stamp Duty? If not then u can try to sell it out before it is TOP, if not then u have to hold it for at least 4 years to avoid the SSD, meaning u need to hold it after it is TOPed.

    I have 1 unit to sell in geylang area as well, believe me, it is not easy to sell off, I oledi marketing it for more than 1 month, the response is bad. But I still can hold, hopefully can sell it asap to get out from geylang.

  14. #44
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    Centra heights so hot today! all sold out within an hour!

    Now can u see the sales difference between these 2 projects? although is not that far from each other?

  15. #45
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    Quote Originally Posted by kaizhe
    Are u affected by the 16% Seller Stamp Duty? If not then u can try to sell it out before it is TOP, if not then u have to hold it for at least 4 years to avoid the SSD, meaning u need to hold it after it is TOPed.

    I have 1 unit to sell in geylang area as well, believe me, it is not easy to sell off, I oledi marketing it for more than 1 month, the response is bad. But I still can hold, hopefully can sell it asap to get out from geylang.
    Ya, I'm affected by the 16% SSD. I need to wait for at least 4 years before I can sell away the apartment. Hope by the time, Paya Lebar Hub will able to help to change something. Do you mind to share which geylang area you have on hand now.

  16. #46
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    Quote Originally Posted by irisng
    I bought it for investment but my son likes the area not because of "those people", but because of the good food and locations (mins to town). Sometimes, he'll bring his girlfriend all the way from West to this place just to eat and go home, and sometimes with my brother/sister-in-law. He said if nobody wants to rent or buy, he'll rent or buy from us but you know, son and parents, very difficult lor.

    How about you, for investment or own stay?
    hi irisng,
    i buy for my own stay. is also very near to town again price are affordable (only 4 station to CH). hee hee ... my preference of my house is must near to town.

  17. #47
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    can anyone tell me? what is behind of melosa which No 5 geylang lorong 26...

  18. #48
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    Quote Originally Posted by cytan6613
    hi irisng,
    i buy for my own stay. is also very near to town again price are affordable (only 4 station to CH). hee hee ... my preference of my house is must near to town.
    ur wkends evening gona be vy happening

  19. #49
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    Quote Originally Posted by cytan6613
    hi irisng,
    i buy for my own stay. is also very near to town again price are affordable (only 4 station to CH). hee hee ... my preference of my house is must near to town.
    Do you have young or teenage children especially girl? Alot of people said is not meant for the family. Which side are you facing, East or West? One of the reasons for me to invest is also its affordable price.

  20. #50
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    Quote Originally Posted by devilplate
    ur wkends evening gona be vy happening
    ha ha ... life still go on

  21. #51
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    Quote Originally Posted by irisng
    Do you have young or teenage children especially girl? Alot of people said is not meant for the family. Which side are you facing, East or West? One of the reasons for me to invest is also its affordable price.
    yes yes, i not main for family

    mind is facing lorong 26 (west) have afternoon sun

    my agent has told me melosa is sold out. is true?

  22. #52
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    Same, same, mine also facing west. One of the agents also told me that Melosa has sold out, not very sure. By chance, I saw an advertisement with lots of property and those that was sold out has the words printed on it including La Feur but Melosa doesn't have, maybe not updated yet.

  23. #53
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    Quote Originally Posted by cytan6613
    yes yes, i not main for family

    mind is facing lorong 26 (west) have afternoon sun

    my agent has told me melosa is sold out. is true?
    Most of the geylang property are west facing due to the lorong orientaion..

  24. #54
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    Quote Originally Posted by fafalulu
    Most of the geylang property are west facing due to the lorong orientaion..
    not really most la.....50-50% lor....hehe

    i understand y centra sold out in one day liao.....will be easier to rent out den those in the even lorongs

  25. #55
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    Quote Originally Posted by devilplate
    not really most la.....50-50% lor....hehe

    i understand y centra sold out in one day liao.....will be easier to rent out den those in the even lorongs
    fair enough.. i only visited the even lower lorongs Lor 14-26

  26. #56
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    Quote Originally Posted by irisng
    Same, same, mine also facing west. One of the agents also told me that Melosa has sold out, not very sure. By chance, I saw an advertisement with lots of property and those that was sold out has the words printed on it including La Feur but Melosa doesn't have, maybe not updated yet.
    hee hee ... hope everything go oN ......................

  27. #57
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    When (and not if) the market crashes, are you sure the crash will at most be just 5% or 10% meh?

    Let me give an example. In 1996-7 (approx), geylang properties were at their all time highs. E.g. Lor 14 Wing Fong Mansions / Wing Fong Court transactions were around $630k to $660k for 3 bedders, Lor 6 Torieville transactions were transacted around $640k for 3 bedders. The market went south after that and in 14 Nov 2007, Lor 14 Wing Fong Mansions was transacted at a mere $300k for a 3 bedroom unit 1200sqft+!

    Lagi worse was Lor 6 Torieville which in 2 Oct 2006 was transacted for a 3 bedder for just $280k. You can check out the caveats as proof!

    So almost 40% to 50% down from the peak.
    Last edited by Geylang OKT; 22-04-11 at 00:26.

  28. #58
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    Quote Originally Posted by Geylang OKT
    When (and not if) the market crashes, are you sure the crash will at most be just 5% or 10% meh?

    Let me give an example. In 1996-7 (approx), geylang properties were at their all time highs. E.g. Lor 14 Wing Fong Mansions / Wing Fong Court transactions were around $630k to $660k for 3 bedders, Lor 6 Torieville transactions were transacted around $640k for 3 bedders. The market went south after that and in 2004, Lor 14 Wing Fong Mansions / Wing Fong Court were transacted at a mere $380k for a 3 bedroom unit 1200sqft+!

    Lagi worse was Lor 6 Torieville which in 2 Oct 2006 was transacted for a 3 bedder for just $280k. You can check out the caveats as proof!

    So almost 40% to 50% down from the peak.
    any gd examples in 09 crash for geylang ?

  29. #59
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    Quote Originally Posted by devilplate
    any gd examples in 09 crash for geylang ?
    Bro, donch have "09 crashes" at all lah in many places. Geylang is no exception!

    Properties have been steadfastly rising since 2006 with no pause

  30. #60
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    Quote Originally Posted by Geylang OKT
    Bro, donch have "09 crashes" at all lah in many places. Geylang is no exception!
    got leh but not like 40-50% la....ard 20-30% got....or u not actively looking to buy during tat time? only got about 3-4mths golden window period though....vy competitive.....stressful but rewarding

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