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

[thomastansb]

Finally went down and found out from the agents there.

1st and 2nd buyers are the same. 23% nett. +/- 1% for those HDB address or ex-far east/fraser owners.

BUT there is a loophole. Not sure if it is legal though. 7% ABSD can be "transferred" to bank loan. Don't ask me how they do it. Go down and you will find out. I didn't buy so not sure if it really works but sounds workable to me.

For example, 1M property.

First buyer - Nett purchase price 770k. Loan 616k loan(assuming 80%)

Second buyer - 770k. 54k ABSD. 670k loan

So there is no extra discount for 2nd buyer.

[kane]

Second buyer - 770k. 54k ABSD. 670k loan

So they sell the unit to the second time buyer at 824k, so that they loan 80% on that base whilst giving them a rebating of 54k?? is that how it works?

sounds like a loophole to me.

[thomastansb]

Something along that line. But hear only lah. Not sure if agent got bullshit me or not. I didn't buy so maybe those who bought can comment? The agent was telling me got different "packages" to suit different buyers. Downside is 54k has interest chargeable.

So they sell the unit to the second time buyer at 824k, so that they loan 80% on that base whilst giving them a rebating of 54k?? is that how it works?

sounds like a loophole to me.

[kane]

Something along that line. But hear only lah. Not sure if agent got bullshit me or not. I didn't buy so maybe those who bought can comment? The agent was telling me got different "packages" to suit different buyers. Downside is 54k has interest chargeable.

the banks expect you to declare the final price you pay nett off all discounts rebate etc before the calculate the 80% of that nett price. I don't think it is workable. but if it is happening, then it might be a loophole somewhere.

if you can take a loan against ABSD, SSD or whatever stamp duty, then how can it still function as a cooling measure.

[RCT]

Finally went down and found out from the agents there.

1st and 2nd buyers are the same. 23% nett. +/- 1% for those HDB address or ex-far east/fraser owners.

BUT there is a loophole. Not sure if it is legal though. 7% ABSD can be "transferred" to bank loan. Don't ask me how they do it. Go down and you will find out. I didn't buy so not sure if it really works but sounds workable to me.

For example, 1M property.

First buyer - Nett purchase price 770k. Loan 616k loan(assuming 80%)

Second buyer - 770k. 54k ABSD. 670k loan

So there is no extra discount for 2nd buyer.

Can we take loan for ABSD?

[Tripp]

http://news.omy.sg/News/Local-News/G...ang-Gou-129199

公寓削价23％　600人挤爆抢购
18/01/2013 on 联合晚报


淡滨尼新私宅Q Bay Residences大削价，约600人今早挤爆示范单位，捕捉省钱“好康”。（摄影／庄耿闻）

房地产最新降温措施后首次登场，淡滨尼新私宅项目Q Bay Residences，大削价达23%促销，600人今早挤爆示范单位抢购。

上周五政府推出被称为“大海啸”的全面房地产降温措施，规定买第二套私宅或组屋提升者，须多付7%额外买方印花税。

此外，若未还清组屋贷款，最低首期付款需25%，房屋贷款顶限也从80％大幅降低至50％。

今早，降温措施后首个登场的淡滨尼1道新私宅项目Q Bay Residences开始预售，发展商先推出第一阶段350个单位，引来约600人抢购，场面热烈。

原来，发展商削价高达23%，包括7%印花税回扣、15%早买者回扣和1%组屋提升者回扣等。

换句话说，对本来就打算早买的人来说，降温前降温后，房价都没差。

- 新措施打击投资者　私宅成交量将减20%

完整报道请看18.01.2013的《联合晚报》。

[thomastansb]

I don't know how it is workable. If you all want to know, you have to ask the agents there. I was given the information but since I didn't buy, I won't know if it is workable or not. Oh, they have bankers there also. So can ask them all at one place. They have 2 types of pricing. One higher price with rebate and one lower price without rebate. The rebate is about 7% for ABSD but you have to get a higher loan since nett price is almost similar. That is all I know.

[kane]

I don't know how it is workable. If you all want to know, you have to ask the agents there. I was given the information but since I didn't buy, I won't know if it is workable or not. Oh, they have bankers there also. So can ask them all at one place. They have 2 types of pricing. One higher price with rebate and one lower price without rebate. The rebate is about 7% for ABSD but you have to get a higher loan since nett price is almost similar. That is all I know.

really champion to the max...

[azeoprop]

Can like that one meh?

Last time FEO gave 5% furniture vouchers upon top also must declare, end up I could only take loan with 5% less from the purchase price

[kane]

Can like that one meh?

Last time FEO gave 5% furniture vouchers upon top also must declare, end up I could only take loan with 5% less from the purchase price

that's the thing. you are meant to delcare all rebates and discounts.

[kEN9170]

http://www.h88.com.sg/article/Q+Bay+...h+in+Tampines/

[timmy]

I tell you why people will still buy this.
Potential rental opp.
Foreign students studying at TP and UWC.
Families with extra cash in Tampines.
Foreign workers working opp the industrial plot.
Facing a quarry that has clear water. I used to call it the blue lagoon.
Despite sightings, bedok reservoir is still an attractive man made reservoir.
Downtown line not too far away but you still need to walk.
The roads along this plot however will continue to be heavily utilised. No doubts about it.

Nowadays suburb condos (new launches) below $1000 psf are getting rarer. So to me I was surprised of the deep discount given.

[gadiny]

Per Lianhe Zaobao, buyers's profile for the 210 units sold yesterday by 6pm:
- About 38% of buyers currently owned 1 property and
- About 8% currently owned >1 properties

[pentium]

Nowadays suburb condos (new launches) below $1000 psf are getting rarer. So to me I was surprised of the deep discount given.

Only 3 bedroom compacts are average $985.
The rest all $1050-1200.
All BS

[mcmlxxvi]

Can we take loan for ABSD?

Can. 大耳隆

...

[mcmlxxvi]

Kind word of advice to all.

Ignore what crap of discount +++++

Just ask the agent to give you the nett price.

it's all marketing gimmicks.

[McKinnon]

Long Q mr chestnut 😁

[buttercarp]

Agents have to park outside.... inside got ample space

[McKinnon]

Oic no wonder my side now quite jammed

[kane]

Per Lianhe Zaobao, buyers's profile for the 210 units sold yesterday by 6pm:
- About 38% of buyers currently owned 1 property and
- About 8% currently owned >1 properties

So 54% are first timers? Rain so shiok people also still wqnt to cheong showroom.

[phantom_opera]

although the location is not great, the layout, the site plan are very well designed ... this bay villa is supposed for owners to invite guests and haolian

[Laguna]

although the location is not great, the layout, the site plan are very well designed ... this bay villa is supposed for owners to invite guests and haolian

ya, 600+ units, with 52 weekends
u need to wait long long to have a booking

[phantom_opera]

ya, 600+ units, with 52 weekends
u need to wait long long to have a booking

does not matter, just invite guests and show them ... this is the shared hotel room ... next time you come and stay lah (but always give excuse cannot get booking)

but seriously, I think FEO is very creative, judging from success of QBay, this could be the "new normal" to have shared guess unit in condos in the future

[Rosy]

Not sure it is FEO idea as it is a joint venture.

[thomastansb]

Actually the sales has already slowed tremendously. Considering the "low" pricing. The profit margin for the developers is not so high so I think they will be more careful in bidding for lands. The margin is around 150 to 200 psf only which is low looking at past launches like eCO. Somemore, far east has always been able to attract more sales than other developers.

Let's wait for higher priced projects and see if the measures work. CM8 should be fairly easy for the Government also. Just increase 5% ABSD across the board.

Singaporean 12% for 2nd property
PR 10% for 1st
Foreigners 20% for 1st

[phantom_opera]

Actually the sales has already slowed tremendously. Considering the "low" pricing. The profit margin for the developers is not so high so I think they will be more careful in bidding for lands. The margin is around 150 to 200 psf only which is low looking at past launches like eCO. Somemore, far east has always been able to attract more sales than other developers.

Let's wait for higher priced projects and see if the measures work. CM8 should be fairly easy for the Government also. Just increase 5% ABSD across the board.

Singaporean 12% for 2nd property
PR 10% for 1st
Foreigners 20% for 1st

knowing FEO, they will reduce their discount after this weekend so they can still make higher profit margin ... or this time around FCP does the sales (then they have different style)

like dat you are pressuring SPRs, many SPRs working for a few years will panic buy

[henryhk]

Can we take loan for ABSD?

No lah, ABSD must pay cash......cannot loan ...,,,I just paid 3 % ABSD cash 3 months ago.

[azeoprop]

Book the villas and rent out as hotel rooms to tourists....

[bakasa2002]

Actually the sales has already slowed tremendously. Considering the "low" pricing. The profit margin for the developers is not so high so I think they will be more careful in bidding for lands. The margin is around 150 to 200 psf only which is low looking at past launches like eCO. Somemore, far east has always been able to attract more sales than other developers.

Let's wait for higher priced projects and see if the measures work. CM8 should be fairly easy for the Government also. Just increase 5% ABSD across the board.

Singaporean 12% for 2nd property
PR 10% for 1st
Foreigners 20% for 1st

Its a good thing the land was relatively cheap at 4xx ppr when they bidded. If it's like in the 600 region, It is going to be a hard sell no matter what ID, layout or villa they have.

[bakasa2002]

anyone can advice on the maintenance fee for this proj w the villa include?

From the floor plans, it looks like the common rooms in compact 3br only fit single beds. For premium, I am assuming can fit queen?