Qbay @ Tampines - By FEO, FCL and Seikisui House LH99

[cnud]

but but but...isn't that what the CM was meant to achieve? hee. so that first timers have an advantage over second timers?

ok. say i own a hdb flat and i buy a unit at q bay. that makes me a 2nd timer and i get a 7% discount. when q bay is completed, i sell my hdb flat within 6 months so that i do not need to pay the 7% stamp duty. so suddenly, the biggest beneficiary is those pple who own a hdb and upgrade to a condo and not 1st time home buyers? also cannot be right?

ABSD paid upfront rite?

[Sam88]

it won't happen to me. i've been to all types of showflats over the years until i m still suffering from showflat fatigue.

u are seasoned player. how many are not? now u know why so many sold.

[bargain hunter]

yes, but u can get a refund for 2nd time buyers who genuinely upgrade and sell their current residence.

ABSD paid upfront rite?

[Stevie]

ok. thanks for clarification.

Although the agent keep telling me the discount for today if i go down with cheque,, sat and sun cannot promise got discount.. .. i still insist on see look see look on weekend morning before proceeding to seastrand for Jap lunch

[myfirstpc]

From my agent, he told me that 7 % discount if purchase 2nd prop or 3rd prop.

What ever the discounts being dished out, when you select the unit, it will be the "already discounted price". E.g. price $1m, already discounted. We still need to fork out the cash for 7% on $1m (so call discounted selling price). And also, $1m will be the selling price for the unit. Not forgetting the cash of x% of $1m for DP on the OTP.

[phantom_opera]

yes, but u can get a refund for 2nd time buyers who genuinely upgrade and sell their current residence.

now it is really a mystery ... if 7% discount only given to 2nd timer (but not first timer) ... I think 2nd timers will chiong like no tomorrow also if their intention is purely to upgrade

now CM7 becomes HM7 (heating measure 7)

[Rosy]

Best is to go down and check out the nett discounts for 1st and 2nd timers.

It should be the same.

[Sam88]

but but but...isn't that what the CM was meant to achieve? hee. so that first timers have an advantage over second timers?

ok. say i own a hdb flat and i buy a unit at q bay. that makes me a 2nd timer and i get a 7% discount. when q bay is completed, i sell my hdb flat within 6 months so that i do not need to pay the 7% stamp duty. so suddenly, the biggest beneficiary is those pple who own a hdb and upgrade to a condo and not 1st time home buyers? also cannot be right?

can you imagine if upon top of qbay, your hdb increase say from 500k to 800k? now the cost to upgrade is only 200k. (assume everything is nice and dandy. it may be the other way). on top of that, you get back a refund of say 70k for your absd on a 1 mil condo. now cost of upgrade become 130k.

but if i have a hdb, i would forgo the refund of absd. subject to risk appetite and financial strength of the individual.

[bargain hunter]

i know. been getting to know of pple who fall for even worse marketing. pple who don't know how to interprete floor plans. i was even surprised by a relative who is highly educated and didn't know what to expect after buying a unit which had huge balcony, planter and bay windows. he described it as a horror house and ultimately sold it when he realised that what he got was not what he expected.

u are seasoned player. how many are not? now u know why so many sold.

[taggy]

for the same unit, if FEO really sell at different pricing base on 1st or 2nd prop ownership....

then cm8 confirm is "developer cannot price condo based on buyer ownership status"

[jandj]

What COOLING MEASURE? No power at all.

This 2nd time purchaser is full of cash....

We may need CM8 now, 60% cash for down payment, if govt is serious to cool the market.

can you imagine if upon top of qbay, your hdb increase say from 500k to 800k? now the cost to upgrade is only 200k. (assume everything is nice and dandy. it may be the other way). on top of that, you get back a refund of say 70k for your absd on a 1 mil condo. now cost of upgrade become 130k.

but if i have a hdb, i would forgo the refund of absd. subject to risk appetite and financial strength of the individual.

[bargain hunter]

i think this should be the way and 1st timers have a 7% advantage. which means, they r the ones who are chionging.

I visited a few showflats including Far East project prior to CM7. 1st and 2nd timer SC are having 3% absd advantage. Everybody are getting the same discount.

An agent said qbay offering similar level of nett discounts to everyone under different schemes only.

[Stevie]

What ever the discounts being dished out, when you select the unit, it will be the "already discounted price". E.g. price $1m, already discounted. We still need to fork out the cash for 7% on $1m (so call discounted selling price). And also, $1m will be the selling price for the unit. Not forgetting the cash of x% of $1m for DP on the OTP.

Yes agreed. In most cases the " so call " discounts are already factored in..
seems quite common nowadays

[Sam88]

i know. been getting to know of pple who fall for even worse marketing. pple who don't know how to interprete floor plans. i was even surprised by a relative who is highly educated and didn't know what to expect after buying a unit which had huge balcony, planter and bay windows. he described it as a horror house and ultimately sold it when he realised that what he got was not what he expected.

they didnt teach you subjects like below in school
- buying properties and what to look for
- financial planning
- how to leverage to get maximum gain
- how to buy low and sell high

so what to expect. blind lead blind. the winner is always the one with the best marketing. not the superiority of the product. ipod got U2, creative got Paris Hilton. so who will win the mp3 market? who came out with mp3 - creative.

[Emma]

haha or another one - developer cannot sell any units for the next one year - that will cool things majorly !

What COOLING MEASURE? No power at all.

This 2nd time purchaser is full of cash....

We may need CM8 now, 60% cash for down payment, if govt is serious to cool the market.

[Armstrong]

Hahaha CM8!!! No use one lah, will only push the price even higher. All OCR project, as long is below 1400 PSF, must buy, CHEAP CHEAP CHEAP

Unless govt say all 1st five years of loan, interest rate must be fixed at 5% p.a.
If not, CM9, 10, 11,...... also no use lah, people will take it as reminder to buy. WUHAHAHA

What COOLING MEASURE? No power at all.

This 2nd time purchaser is full of cash....

We may need CM8 now, 60% cash for down payment, if govt is serious to cool the market.

[thechoi]

My sis , first property was given 23% discount like tge rest of the 2nd property buyer

[Sam88]

My sis , first property was given 23% discount like tge rest of the 2nd property buyer

Wa, those upgraders get additional 7% when they sell within 6 month after top. like this pricing quite good.

assume 1000 psf become 930 psf - cheap for upgrader

[jandj]

Btw heard interest rate may goes up soon, is this true?

Lately see quite a few FD promotion, offering rate above 1% which is hardly seem.

If loan interest rate also creeping up, then Good luck to all the latest buyer.

Hahaha CM8!!! No use one lah, will only push the price even higher. All OCR project, as long is below 1400 PSF, must buy, CHEAP CHEAP CHEAP

Unless govt say all 1st five years of loan, interest rate must be fixed at 5% p.a.
If not, CM9, 10, 11,...... also no use lah, people will take it as reminder to buy. WUHAHAHA

[RCT]

Wa, those upgraders get additional 7% when they sell within 6 month after top. like this pricing quite good.

assume 1000 psf become 930 psf - cheap for upgrader

Is the location very good that it is worth 930? Why not buy Riversails or Parc Olympia or others... Cheaper

[RCT]

Btw heard interest rate may goes up soon, is this true?

Lately see quite a few FD promotion, offering rate above 1% which is hardly seem.

If loan interest rate also creeping up, then Good luck to all the latest buyer.

Yes.. Interest Rate is going up.. Like OCBC bonus account, effective interest rate went up to 0.87% last time only 0.6 or 0.7

[cnud]

Also cannot refinance due to CM6.

So LL bank win again.

[Inn0cent]

Sorry for the late reply. The price offered is already after the 23 percent discount. Second property buyer will have to fork out additional 7 percent.

[Laguna]

Also cannot refinance due to CM6.

So LL bank win again.

yes, still can refinance, it counts on the date of purchase

[RCT]

yes, still can refinance, it counts on the date of purchase

Is it? I though have the limitation on age and years?

[bargain hunter]

so to sum it up, 1st timers and GENUINE upgraders benefit from the 7% advantage. note that upgraders cannot buy any other ppty until they sell their hdb and move into this when it TOPs. otherwise, the 7% advantage is gone.

Wa, those upgraders get additional 7% when they sell within 6 month after top. like this pricing quite good.

assume 1000 psf become 930 psf - cheap for upgrader

[RCT]

so to sum it up, 1st timers and GENUINE upgraders benefit from the 7% advantage. note that upgraders cannot buy any other ppty until they sell their hdb and move into this when it TOPs. otherwise, the 7% advantage is gone.

How many unit is coming first? I think the percentage sold out will be high again..

[Armstrong]

When a lot people rushing to buy, is time to sit down and rest, let them buy.
When no one is buying, is time for you to take action, let them rest.

Just like share market.

[phantom_opera]

so to sum it up, 1st timers and GENUINE upgraders benefit from the 7% advantage. note that upgraders cannot buy any other ppty until they sell their hdb and move into this when it TOPs. otherwise, the 7% advantage is gone.

really scary ... now developers marketing trick will be to tell 1st timer / upgraders that they have 7% advantage

[bargain hunter]

i think its ok wat. not a trick. its factual. and they are indeed getting a lower price!

really scary ... now developers marketing trick will be to tell 1st timer / upgraders that they have 7% advantage