Watertown : Punggol Waterfront Living

[minority]

I believe many are buying into new 99LH launches with the intention to flip once 4yr SSD over. Small quantum does the trick as well. But buying smallish apartments in faraway location is really taking a big bet. Even singles buying for own stay may want to stay closer to the buzzling city

paying the highest PSF in the area i doubt there is much upside to flip. upside only for agent and developers.

[Rosy]

Frankly the rental will be cap buy the EC ard the area as well as the HDB in the area.. imagine can rent a HDB for 2000-2600pm 5 bed room would u prefer to pay 4K for a 570sqf in ulu poungol?

so at most 2.5K for a studio rental there.. coz look at the EC in the area florida, rio vista, park green? 3500pm get u a full 1300sqf apt.

2.5k for a studio in WT is considered very high. i was thinking of 2k.

I have explored some MMs in little india area and the angmors are paying 2.5-2.8k

[yowetan]

What marvels me is the Singaporean risk profile, they seems to be very adventurous? Perhaps, they are earning good and younger than me.

[Rosy]

What marvels me is the Singaporean risk profile, they seems to be very adventurous? Perhaps, they are earning good and younger than me.

it was mentioned that 2/3 of the buyers holding HDB address in the vicinity. Perhaps their flats have appreciated more than doubled and they feel confident about investing in another one. Quantum does the trick as well. 600k budget really got very limited choice.

Personally feel that 3/4bedder is a safer bet for such location. However, the quantum and psf is comparable to FH and city fringe ones.

I will not commit to a property due to the quantum alone.

[yowetan]

it was mentioned that 2/3 of the buyers holding HDB address in the vicinity. Perhaps their flats have appreciated more than doubled and they feel confident about investing in another one. Quantum does the trick as well. 600k budget really got very limited choice.

Personally feel that 3/4bedder is a safer bet for such location. However, the quantum and psf is comparable to FH and city fringe ones.

I will not commit to a property due to the quantum alone.

I must admit FEO does a good advertisment promo, and I am abit old fashioned and shocked when I see the ads in TV music with lyrics to sing along to promote lifestyle in Water Town and Hillier; lyrics to complement and justify the quality lifestyle which FEO promises and advocate.

I am very much convinced that Singaporean are really motivated to buy, however do we Singaporean have the deep pockets to buy while holding onto the HDB flat? Do we really have the population to support the housing demands and rental needs?

I am perplexed and confuse again.

[buttercarp]

it was mentioned that 2/3 of the buyers holding HDB address in the vicinity. Perhaps their flats have appreciated more than doubled and they feel confident about investing in another one. Quantum does the trick as well. 600k budget really got very limited choice.

Personally feel that 3/4bedder is a safer bet for such location. However, the quantum and psf is comparable to FH and city fringe ones.

I will not commit to a property due to the quantum alone.

The majority seems to be HDB upgraders.
They are confident that their flat will appreciate when the condo TOPs.
But what if it were otherwise.
Perhaps they are young as yowetan has mentioned, so they are confident that when the time comes, they would be even more financially sound.

[buttercarp]

I must admit FEO does a good advertisment promo, and I am abit old fashioned and shocked when I see the ads in TV music with lyrics to sing along to promote lifestyle in Water Town and Hillier; lyrics to complement and justify the quality lifestyle which FEO promises and advocate........

I am perplexed and confuse again.

I am equally amazed...... it seems so grand to stay in Punggol!

[phantom_opera]

It is getting harder to secure a 2nd home in Singapore. Assuming a starting family income of 6k and reaches 12k in 10y time on average (exclude high flyers), with today's high inflation / car prices / 1% FD rate and lower total cpf contribution (36% vs 40% last time), you can barely save 30k per year even if your family income is around 10k. 10 year max you can save is 250k ...

With 60% LTV ratio, it is even harder to get a 2nd home ...


18.0% of all households has income >= 12k per month
top 10% of households earn > 18k per month

from the above, those who can only afford 600-700k 1br most likely belong to the family income group of 12k-18k which is about 8% of all tax paying households

the next 5% of households can most likely afford anything below 2 million or 2 X 1 million

[Rosy]

The majority seems to be HDB upgraders.
They are confident that their flat will appreciate when the condo TOPs.
But what if it were otherwise.
Perhaps they are young as yowetan has mentioned, so they are confident that when the time comes, they would be even more financially sound.

from my observation, WT comprises mainly smallish units. So mostly bought for investment and I do not think they are thinking of selling their flats to move into WT.

[Rosy]

I am very much convinced that Singaporean are really motivated to buy, however do we Singaporean have the deep pockets to buy while holding onto the HDB flat? Do we really have the population to support the housing demands and rental needs?

I am perplexed and confuse again.

When I buy into properties, I do not worry too much over things that is beyond my control. The same goes to other decision making in our lives.

[yowetan]

I am equally amazed...... it seems so grand to stay in Punggol!

The profile of the Punggol residents are young and aspiring executives to managers. Their earning capability could be better than mine, since there are people claiming the average household income is to be >8kSGD these days.

I have several schoolmates and friends who stay in Punggol and Sengkang, and they used to be from old neighbourhoods like Serangoon, Ang Mo Kio and Hougang respectively. They feedback that the place is getting hyped and alot of initiatives are in place to spur and motivate younger generation to build their family there.

Besides, the township is steer by DPM Teo; I think the minister did a great job by transforming Lorong Halus area into a promising land. It is hard to think that things will go wrong there.

[yowetan]

When I buy into properties, I do not worry too much over things that is beyond my control. The same goes to other decision making in our lives.

Wouldn't that makes a bad investment without proper planning? Or I should say you are not investing but speculating instead.

[phantom_opera]

2.5k for a studio in WT is considered very high. i was thinking of 2k.

I have explored some MMs in little india area and the angmors are paying 2.5-2.8k

Those super-old 3r HDBs near Bedok Residences rental is 2k and above hoh Only 2 bedrooms with no facilities ... you can imagine what Bedok Residences 1+S rental is 3.Xk?

Punggol 1br for 2.5k a few years down the road? With continued inflow of foreign talent / GDP growth.. always possible

[Rosy]

Wouldn't that makes a bad investment without proper planning? Or I should say you are not investing but speculating instead.

I do not understand your comment.

I will be speculating if i am trying to predict those variables that is not within my control right?

[Rosy]

Those super-old 3r HDBs near Bedok Residences rental is 2k and above hoh Only 2 bedrooms with no facilities ... you can imagine what Bedok Residences 1+S rental is 3.Xk?

Punggol 1br for 2.5k a few years down the road? With continued inflow of foreign talent / GDP growth.. always possible

Ic.

I find 2k more suitable in today's market more realistic due to my own findings that city fringe MMs are commanding 2.5-2.8k.

When we buy property, we should use current rental and not future rental as a consideration since we are buying at today's price and not few years later.

[TMATT]

Maybe can work...u can write at KBW Facebook,who
Know suggestion maybe use??

As long 20% like us don't affect 80% lifestyle & comfort,
Think Government will listen & use it.

Please do not get my suggestion wrong; I am refering to one criteria is for own stay ONLY for public housing. No sub-let is allow unless one can prove his and/or her income (household income) is lower than the national average. Then they are allow to sub-let based on such criteria; this will ensure public housing is meant for Singaporean ONLY and not for profit churning and profiteering from rental income etc.

[yowetan]

Maybe can work...u can write at KBW Facebook,who
Know suggestion maybe use??

As long 20% like us don't affect 80% lifestyle & comfort,
Think Government will listen & use it.

Pareto way of working may not be Khaw style.

Anyway, I do not engage with politics and policies with Facebook. Facebook destroys privacy.

[rattydrama]

Those super-old 3r HDBs near Bedok Residences rental is 2k and above hoh Only 2 bedrooms with no facilities ... you can imagine what Bedok Residences 1+S rental is 3.Xk?

Punggol 1br for 2.5k a few years down the road? With continued inflow of foreign talent / GDP growth.. always possible

try to toss a coin in JDL projects better luck. LOL.

[Rosy]

try to toss a coin in JDL projects better luck. LOL.

You mean JLD?

I would have bought one earlier on if there is any FH properties over there worth considering.

I believe JLD will take many years to transform into a successful HUB or whatever you call it.

[rattydrama]

The majority seems to be HDB upgraders.
They are confident that their flat will appreciate when the condo TOPs.
But what if it were otherwise.
Perhaps they are young as yowetan has mentioned, so they are confident that when the time comes, they would be even more financially sound.

anyone realised that more and more older flats snapped up by PRs and new citizens?

My sister was telling me she gets more curry smell and noise after 11pm. She is now tempted to upgrade to a new HDB flat.

I guess this would be a trend going forward.

More local-born-singaporeans now upgrade to new flat or dbss or ec for some obvious reasons.

[yowetan]

anyone realised that more and more older flats snapped up by PRs and new citizens?

My sister was telling me she gets more curry smell and noise after 11pm. She is now tempted to upgrade to a new HDB flat.

I guess this would be a trend going forward.

More local-born-singaporeans now upgrade to new flat or dbss or ec for some obvious reasons.

Curry smell with entertainment sound after 11pm - A reflection of Singapore of yesterdays': 1970s-1980s.

[rattydrama]

You mean JLD?

I would have bought one earlier on if there is any FH properties over there worth considering.

I believe JLD will take many years to transform into a successful HUB or whatever you call it.

sorry JLD. I dont think it will take very long, perhaps another 10 years we will see some good results. It may take 15 years but from Y10 to Y14, we should be able to see more price hikes.

From what I can recall, there is no FH in this area. Anyway, rent out for 20 years is enough to cover yr cost. FH is not everything or a must have in Singapore. Malaysia perhaps.

those big players are in JLD so better to follow the big players, we will nvr go very wrong.

Let FEO continues to drum up the price here. For self stay and if you are already staying in punggol you will not want to give up this place. FEO knows exactly how pple behaves.

[rattydrama]

Curry smell with entertainment sound after 11pm - A reflection of Singapore of yesterdays': 1970s-1980s.

really? too young to reaslised that. There is no resale market during those days right? LOL


I think they are too loud for us. Can you imagine those chinese speaking loudly and you are just at the other side of the concrete wall? the wall is not thick enough to shield off the noise.

[Rosy]

sorry JLD. I dont think it will take very long, perhaps another 10 years we will see some good results. It may take 15 years but from Y10 to Y14, we should be able to see more price hikes.

From what I can recall, there is no FH in this area. Anyway, rent out for 20 years is enough to cover yr cost. FH is not everything or a must have in Singapore. Malaysia perhaps..

Singapore is still very new. We do not know what will happen when 99LH lease ends especially for private properties. There are some 99LH pte landed houses in geylang areas losing their values as their days are numbered.

Just for sharing, I was told that it is a given for HK government allowing top up of lease for their properties.

those big players are in JLD so better to follow the big players, we will nvr go very wrong.

Let FEO continues to drum up the price here. For self stay and if you are already staying in punggol you will not want to give up this place. FEO knows exactly how pple behaves.

I do not stay in punggol and do not intend to buy one over there too.

[yowetan]

really? too young to reaslised that. There is no resale market during those days right? LOL


I think they are too loud for us. Can you imagine those chinese speaking loudly and you are just at the other side of the concrete wall? the wall is not thick enough to shield off the noise.

I can feel for you. My current place is also full of new PRs and citizens.

Curry smell and loud conversation(s) are the norm if not frequent. Interestingly, I have some Bak Kwa smell these days too. Varieties add in my neighbourhood, it's all about self-tolerance and management.

As of now, I am unsure what's our immigration policy. If the population is not growing as what it used to be drumming past few years, the scenario would be many empty units in the market when all flats and private apartments TOP in 4 years time.

Then, I believe your sister would feel her neighbourhood would be very serene and peaceful!

[buttercarp]

My SIL place in Pasir Ris also got curry smell next door, but she is ok with it.
What is upsetting is that the neighbour dries their laundry in the corridor.
Really lots of laundry..... like they are running a laundry business..... dhoby ghaut?

[Allthepies]

but what if the stock plunge?

one is at all time low; the other is at all time high; u decide which has higher chance to plunge

one even price rise cannot sell becos of SSD; the other price rise can sell straight away; u decide which is a better investment

one everybody is rushing to buy (watertown new launch); the other nobody want to buy; u decide which is a better buy

one even a slight rise, government will launch further CM; the other no government intervention; u decide which one can rise

[Eastboy]

One man's meat is another man's poison. There are markets for all lid of housing up there and not everyone makes the same decision. It might seem rational to rent a 4rm HDB for $3000 vs a 570sqft studio, but ultimately it is about STATUS symbols. Like why drive a Ferrari when a BMW has more space for the family?
Whatever it is, I believe Punggol has lots and lots of potential, will prob overtake bishan/amk prices in the future. It's like how china overtakes US etc. every town takes turn to shine. (btw I am not vested in punggol)

[coolchoc]

PM-ed u bro

It depend u asking for suits,SOHO,Condo or Patio?
Want price list pm me,can send to u.

Actually those who visit the showroom can just pick up total 20+ pages for prices for differ type of unit. Tks

[Xan]

one is at all time low; the other is at all time high; u decide which has higher chance to plunge

one even price rise cannot sell becos of SSD; the other price rise can sell straight away; u decide which is a better investment

one everybody is rushing to buy (watertown new launch); the other nobody want to buy; u decide which is a better buy

one even a slight rise, government will launch further CM; the other no government intervention; u decide which one can rise

Property if price dip at most I hold lor,
Shares plunge I still gotta top up.
Had a sec sch fren went bankrupt becos of shares and stock.
Any form of investment comes with certain risk.