Sky Habitat - Bishan

[stiook]

Are these new? Ans: No. Older condos have are much more spacious than the new ones, more usable space (means you pay even less $PSF if you consider only the usable space, not those planter areas you can't use and access, those big big air-con ledges for what?!, those big balconies for what when your rooms are big enough for dwarfs and hobbits?!)

The real reason why new launch are popular:
1) 4 years SSD will be over by the time the properties about to TOP.
2) Pay 20% option can buy a property, the rest of 20% cash can wait for up to 2 years (better leverage, circumvent the 60% LTV problem), don't have to take up loan and pay interest for next 60% loan.
3) Buyers limited cash, no cash to renovate, so can't buy resale that is 35%-50% cheaper than new launch, die die must pay 35-50% more for new launch!

Sorry but don't understand part 2... isn't the 40% to be paid upfront?

[devilplate]

So buy new one won't become run-down 5 years down the road?
Actually if scare estate run-down, buy resale safer because after 10 years if estate still well-maintained means they will continue to be well maintained. I have seen relatively new condos of 3 years old that look worse than >10 years old condos because of poor maintenance!

Whr got tink 5yrs down the road....

Spend money to upgrade ....must get new new.....2nd hand bey gian....bey high mah

China buyers worse hor......mostly die die want brandnew homes one hor...no 2nd hand

[chiaberry]

I think one significant factor pushing up new launches is better marketing and better concepts ie; spa pools, water features, lifestyle living viz soho, beach, reservoir, river, mall/mrt integrated. This new direction has made older properties look jaded and tired. To top all this, the quantum of mass property is not exactly out of reach either.

That's because the floor area has shrunk! Honey I shrunk the condo!!!

In order to live in the new condos, you have to be very minimalist. Not one little bit of clutter. Cannot store or hoard anything. There is so little space....every year must throw out the old clothes and books before buying new ones.

I can see huge potential in those storage places that rent out storage rooms. Those hobbits staying in the new MM (mass market/mickey mouse) will need somewhere to put their "junk".

[chiaberry]

Sorry but don't understand part 2... isn't the 40% to be paid upfront?

Aha! Didn't you know that you DON'T need to pay the 40% upfront? That's one of the major reasons why the new launches are selling like hot cakes.

[lufu]

Sorry but don't understand part 2... isn't the 40% to be paid upfront?

Progressive Payment scheme

[kane]

Aha! Didn't you know that you DON'T need to pay the 40% upfront? That's one of the major reasons why the new launches are selling like hot cakes.

But usually the whole 40% kicks in by the first 2 years. If they didn't have that kind of money to begin with, it's quite hard to save that much in such a short time.

[amk]

But usually the whole 40% kicks in by the first 2 years. If they didn't have that kind of money to begin with, it's quite hard to save that much in such a short time.

What about they have only the remaining 10% , and banking on saving the rest in the next 2yrs ?

Or they have the remaining 20% but not in cash but other assets, so they have 2 yrs to manage the cash flow ?

Or even bettter, has no 20%, but will be selling their existing HDB for good profit in the next 2yrs?

Look this 40% is a big barrier for resale. Without this 40% cash right now you simply cannot do resale at all. With new, you can.

One thing gov can do as a CM, is to require buyers to put up 40% upfront in an escrow account.

[stiook]

Aha! Didn't you know that you DON'T need to pay the 40% upfront? That's one of the major reasons why the new launches are selling like hot cakes.

Really didn't know... But then again... I don't look at new launches... They are overpriced. Have always been looking at resale.

[devilplate]

What about they have only the remaining 10% , and banking on saving the rest in the next 2yrs ?

Or they have the remaining 20% but not in cash but other assets, so they have 2 yrs to manage the cash flow ?

Or even bettter, has no 20%, but will be selling their existing HDB for good profit in the next 2yrs?

Look this 40% is a big barrier for resale. Without this 40% cash right now you simply cannot do resale at all. With new, you can.

One thing gov can do as a CM, is to require buyers to put up 40% upfront in an escrow account.

Govt shd just do it.....to prove u wrong....

[felicia_sg]

All the China's Chinese I know that buy for own stay buy resale instead! I ask them I thought you people like to buy new? The reply I get is that "only China speculators & idiots buy new & pay >30% premium!"!

Whr got tink 5yrs down the road....

Spend money to upgrade ....must get new new.....2nd hand bey gian....bey high mah

China buyers worse hor......mostly die die want brandnew homes one hor...no 2nd hand

[felicia_sg]

Why you think the average middle income working class buying OCR properties willing to pay >30% premium for new launch? Won't the new property be old once they take possession to live in? Is it not like they are so rich that they so happy to burn money just to want new things?

Govt shd just do it.....to prove u wrong....

[kane]

What about they have only the remaining 10% , and banking on saving the rest in the next 2yrs ?

Or they have the remaining 20% but not in cash but other assets, so they have 2 yrs to manage the cash flow ?

Or even bettter, has no 20%, but will be selling their existing HDB for good profit in the next 2yrs?

Look this 40% is a big barrier for resale. Without this 40% cash right now you simply cannot do resale at all. With new, you can.

One thing gov can do as a CM, is to require buyers to put up 40% upfront in an escrow account.

They are running a tight ship if they were trying to raise 20% in those 2 years by selling stuff.

[devilplate]

All the China's Chinese I know that buy for own stay buy resale instead! I ask them I thought you people like to buy new? The reply I get is that "only China speculators & idiots buy new & pay >30% premium!"!

oooo i dun hf any close china chinese frens wor

wat i gather is from FEO agts.....alot of their carrot projects r bot by china buyers hor......

[devilplate]

Why you think the average middle income working class buying OCR properties willing to pay >30% premium for new launch? Won't the new property be old once they take possession to live in? Is it not like they are so rich that they so happy to burn money just to want new things?

u misunderstood me la

wat i mean was: i do not believe many buyers bot into new launches without ready 40% cash/cpf.....i wud believe they r just the minority......wif 4yrs SSD....cannot flip/subsale......only brainless hero buy without ready cash/cpf of 40%

[teddybear]

Devil, in contrary to your believe, I believed that the majority buyers bot new launches without really 40%cash/CPF. I believed that they are buying the time now to get funds for these 40% cash/CPF. Why with 4 SSD cannot flip/subsale? These people believed that the property price will always be up and believed that they still can flip when they had served 4 y ssd even before they take loan for the remaining 60% .... From initial buying new launches to paying full 40% , it is going to take more than 3 years for most if not all new launches and I know some even take 5 years (last time).

Even upon TOP, you just need to pay up to 85%, the rest are after CIC which is 1 yr later.

Here you are for progressive payment:
Progress Payment (New Condo)

Standard Payment Scheme

No Existing Mortgage Loans (80% Bank Loan)StagePayment ( % of purchase price )Upon the grant of Option to Purchase (Booking fee)5% - 10%(Cash only)Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date20% less booking fee(CPF)Completion of foundation work (Start of loan payments)10%Completion of reinforced concrete framework of unit10%Completion of brick walls of unit5%Completion of roofing/ceiling of unit5%Completion of electrical wiring, internal plastering, plumbing and installation of door and window frames of unit5%Completion of car park, roads and drains serving the housing project5%Notice of Vacant Possession25%On Completion Date15%




Until now, I still have not heard your concreate view about why new launches fare 30% more than the resale? Is it just as simple as all buyers want new thing/house?

u misunderstood me la

wat i mean was: i do not believe many buyers bot into new launches without ready 40% cash/cpf.....i wud believe they r just the minority......wif 4yrs SSD....cannot flip/subsale......only brainless hero buy without ready cash/cpf of 40%

[devilplate]

tats y i said....

govt shd just impose the cm suggested by amk and see whether ocr new launches still remain hot or cool down

[devilplate]

Until now, I still have not heard your concreate view about why new launches fare 30% more than the resale? Is it just as simple as all buyers want new thing/house?

how to haf concrete views rite?

or lets go and interview or check those buyers who bot watertown to see whether they haf ready 40% cpf/cash for those taking 60% ltv loan?

[teddybear]

I challenge the govt to introduce the following & prove us wrong:
1) 40% cash must be paid upfront (can be in escrow with govt or law society) & 60% loan must be secured before people can buy new launch.
2) 4-years SSD start from date that 100% of property price has been paid just like resale properties & before that is 16%.
3) Transparency of valuations from banks because there are just too many cases where their valuation Cannot match selling price of resale but yet they can match selling price of developers' new launch at price >30% premium of the resale!

tats y i said....

govt shd just impose the cm suggested by amk and see whether ocr new launches still remain hot or cool down

[devilplate]

I challenge the govt to introduce the following & prove us wrong:
1) 40% cash must be paid upfront (can be in escrow with govt or law society) & 60% loan must be secured before people can buy new launch.
2) 4-years SSD start from date that 100% of property price has been paid just like resale properties & before that is 16%.
3) Transparency of valuations from banks because there are just too many cases where their valuation Cannot match selling price of resale but yet they can match selling price of developers' new launch at price >30% premium of the resale!

only point number 1 is needed to prove ur theory of new launch buyers 'buying' time

[sh]

I challenge the govt to introduce the following & prove us wrong:
1) 40% cash must be paid upfront (can be in escrow with govt or law society) & 60% loan must be secured before people can buy new launch.
2) 4-years SSD start from date that 100% of property price has been paid just like resale properties & before that is 16%.
3) Transparency of valuations from banks because there are just too many cases where their valuation Cannot match selling price of resale but yet they can match selling price of developers' new launch at price >30% premium of the resale!

I support

[teddybear]

I'm saying your view. you mean you have no view?

how to haf concrete views rite?

or lets go and interview or check those buyers who bot watertown to see whether they haf ready 40% cpf/cash for those taking 60% ltv loan?

[teddybear]

I am tailoring for a whole package of my view about why new launches are higher than resale by > 30%.

Buying time is just a factor, SSD is also another factor. Very often, the same buyer cannot secure a loan from the bank for the resale but they can get the loan for buying new launches at sky high price (higher than resale price). What say you? so, securing a loan is also another factor.

only point number 1 is needed to prove ur theory of new launch buyers 'buying' time

[stiook]

We are all assuming that a lot of the upgraders have outstanding loans. But perhaps a lot already paid off their HDB loan so very comfortable with the 20% downpayment.

[devilplate]

I'm saying your view. you mean you have no view?

Last time we debate b4 liao....dunwan repeat....sian oredi

[DC33_2008]

Some said that the next CM will be for the commercial and industrial buildings.

I challenge the govt to introduce the following & prove us wrong:
1) 40% cash must be paid upfront (can be in escrow with govt or law society) & 60% loan must be secured before people can buy new launch.
2) 4-years SSD start from date that 100% of property price has been paid just like resale properties & before that is 16%.
3) Transparency of valuations from banks because there are just too many cases where their valuation Cannot match selling price of resale but yet they can match selling price of developers' new launch at price >30% premium of the resale!

[devilplate]

I am tailoring for a whole package of my view about why new launches are higher than resale by > 30%.

Buying time is just a factor, SSD is also another factor. Very often, the same buyer cannot secure a loan from the bank for the resale but they can get the loan for buying new launches at sky high price (higher than resale price). What say you? so, securing a loan is also another factor.

I din disagree wif u on securing loan...i questioned last time b4 tat y banks always able to match developer asking px

[devilplate]

Some said that the next CM will be for the commercial and industrial buildings.

Today got some new rules about shophouses....

[price]

Today got some new rules about shophouses....

Only for serangoon gardens right

[DC33_2008]

C200 minus the tax as a MM2H resident is about $80,000. Not bad.

Today got some new rules about shophouses....

[DC33_2008]

I am referring to B1, B2 type of commercial units. Some unit are suppose to be light industry.

Today got some new rules about shophouses....