#1 Loft, 80 units, Geylang

[rontan_83]

of course there are decent people staying there, but there is no gurantee that your neighbours won't sublet to okt right? of course is illegal, but doesn't mean people will dont do it right.

if there is no absd, i will definitely buy a few units there.

let's face the reality, geylang is a special place, there is no point closing both eye and say it is a normal place like tiong bahru or toa payoh. otherwise, bank loan would be very straight forward and ALL banks should offer loan.

This place is a good buy, be it for own stay (single) and for rental investment.

Mr Lee.....HONG LEONG , SINGAPURA FINANCE and UOB also offer me 80% bank loan....wont have big problem one la...u overreacted liao...my wife and i going to stay at one loft in 2015...

[star]

I can see no new condo in sg selling below $1k soon. Some suburban mm will reach $2k psf.

[leesg123]

Mr Lee.....HONG LEONG , SINGAPURA FINANCE and UOB also offer me 80% bank loan....wont have big problem one la...u overreacted liao...my wife and i going to stay at one loft in 2015...

Lor 24 is ok bah. Congrats on moving in!

[babyt]

Mr Lee.....HONG LEONG , SINGAPURA FINANCE and UOB also offer me 80% bank loan....wont have big problem one la...u overreacted liao...my wife and i going to stay at one loft in 2015...

he is just concerned for geylang buyers although i don't see how his comments will create any impact in property market.

well, for ppl who still think short and not far, then just buy ur pasir ris, woodlands, selatar condo lor...paying so much for condo standing side by side HDB, still have to drive or take public transport to town.

Geylang is No.1. not expensive like those condo in city area yet so near to city hall, take bus less than 10mins, can cycle to sport hub or MBS, can go cycle, park and then jogging along scenic Bay Garden East. A lot of food.

compare balestier and Geylang, both city fringe, i still go geylang lor.

w 4 condos along lor 24 in few yrs time...how can this lane not be cleaned? tell me la....if whore wants to sell, she will stand in front of condo and let the residents finger poke at them and laugh at them meh? the most they will gather at Adam's back lane...

[rontan_83]

he is just concerned for geylang buyers although i don't see how his comments will create any impact in property market.

well, for ppl who still think short and not far, then just buy ur pasir ris, woodlands, selatar condo lor...paying so much for condo standing side by side HDB, still have to drive or take public transport to town.

Geylang is No.1. not expensive like those condo in city area yet so near to city hall, take bus less than 10mins, can cycle to sport hub or MBS, can go cycle, park and then jogging along scenic Bay Garden East. A lot of food.

compare balestier and Geylang, both city fringe, i still go geylang lor.

MY cute BabyT,
I went to Geylang...all i saw...was 100% bangla, indian and PRC workers leh.....cannot find any singaporean there....BABYT~~~~~~~~~~~~~

[ernsttay]

baby T, if the bangla workers there molest ur gf....how are u going to react?

IRIS NG, i have check with agent there, specialist at rental@ geylang...for 560sqft one loft....minimum can rent $3000.....Maximum$4000....bank loan only $2000....so one loft is a good buy which can generate +ve cash flow...

Is rental really that good? Last time I heard its about 3k the most, hopefully will
go up to 3.5k when ready.

Its just like renting 2 rooms out. 1 at S$1.5k is on the high side to me. Also most single expat allowance is likely to be S$3.5k per month.

Hopefully, i can get 4k per month.

[ernsttay]

Found this, so I think #1 Loft is a confirmed BETTER buy then #1 Suites:
http://investingeylang.com/2011/04/2...-look-out-for/

Banks favour the ODD lanes, especially lanes starting from Lorong 23 onwards till Lorong 39, its safe to invest in. As mostly its residential properties area. All local banks support up to 80% financing.


For EVEN lanes, properties located from Lorong 24 onwards is generally safe.Lorong 4 to Lorong 22 is classified as the RED LIGHT DISTRICT.
Financing in this area(Lor 4-22) will be difficult in a sense that only Maybank and Hong Leong Finance can loan depending on case by case basis. The percentage of the loan amount will differ as well. (Mostly up to 50% to 70% financing here by Maybank and Hong Leong)


Lorong 24 onwards will be slightly less stringent. However, local banks like UOB, DBS and OCBC are quite conservative about this lanes as well. Thus loans also is on a case by case basis.
As for Lorong 40 and Lorong 42 thou on EVEN lanes, its a all clear zone, all banks support financing for this lane. (3 Popular major developments lies here, Waterina, Sunny Spring and Aston Mansion)
However, with the recent new launches(Mickey Mouse units) banks are opening up to loans in even lanes.

The realistic truth is that most banks still don't offer loan for Lorong 24.

[ernsttay]

Mr Lee.....HONG LEONG , SINGAPURA FINANCE and UOB also offer me 80% bank loan....wont have big problem one la...u overreacted liao...my wife and i going to stay at one loft in 2015...

UOB offered? When was it? They rejected me 2 months ago even when they call me a priority client.

[babyt]

i also took loan from UOB leh. but only take 60% loan.

It was approved at end of Feb.

[leesg123]

The realistic truth is that most banks still don't offer loan for Lorong 24.

perhaps you have indicated as for investment? bank are more willing to loan if indicated as own stay, like babyt.

[babyt]

maybe because its my first property and i only asked for 60%

[jwong71]

3k is possible. i already said in earlier post. it will be a very attractive place for OKT to rent and house their girls. one girl 1 room. one upstair, one downstair. each girl $1500 rental only. per day $30! where to find! nearby hotel hourly already $20+ That is why this is a good buy for rental. no offense, speaking from an investor point of view.

where got such good life for gals under OKT, be fortunate for 2-3 of bunk beds

[babyt]

where got such good life for gals under OKT, be fortunate for 2-3 of bunk beds

maybe High class chickens.

but high class one no need stand at geylang mah. just need to engage pimp, do online, visit clients like banker, principal etc in hotels.....

I think high class one also prefer to stay in more posh place, not to be seen w other low class chickens right?

[rontan_83]

maybe High class chickens.

but high class one no need stand at geylang mah. just need to engage pimp, do online, visit clients like banker, principal etc in hotels.....

I think high class one also prefer to stay in more posh place, not to be seen w other low class chickens right?

BABYT is cute.............he dont mind stay with bangla workers

[babyt]

BABYT is cute.............he dont mind stay with bangla workers

1loft got banga workers meh?

u mean those hanging outside? aiya see how it goes after TOP..still like2-3 yrs to go..maybe situation will change?

i still want to vote for WP for east coast grc in 2016.

[babyt]

apparently, u can get actual dimension of the project by paying money to BCA for the blueprint. U can see how long is the swimming pool, height of balcony wall etc

From BCA, and here's the website :
http://www.bca.gov.sg/legalsearch/LegalSearchapp.aspx

1. Submit your request online which will cost you S$20 for BCA to search their database. No refund even if BCA fails to find the drawings which you looking for.

2. BCA will send you an email informing you whether the search is success or not. I received mine after 3 working days.

3. If success, you then go to BCA counter at MND building to view and select your drawings on a HP touch screen computer. All floor plans are in AutoCAD format and structural drawings are in PDF format. You then decide which are the drawings you want to print. Each set will cost you S$25 (not per drawing but per set of drawings).

4. Then the printing vendor who is just next to the BCA counter, will print out your preferred size (A1=S$6, A2=S$4). You can even request the staff at the printing room to zoom into any specific area for the print out.

Note:
- You have to be the property's owner to view or print the drawings. You will need to submit a copy of your "Certificate of Stamp Duty" as proof during your visit to the BCA counter.
- You will not be given the soft copy, only can print out in hardcopy.

[optimus135]

Anyone has any idea on the mechanical carpark noise? I understand some of these can be quite noisy. Dont really see much condo's with these but it is a unique factor i guess. Does #1 suite have a mechanical carpark?

[rontan_83]

Anyone has any idea on the mechanical carpark noise? I understand some of these can be quite noisy. Dont really see much condo's with these but it is a unique factor i guess. Does #1 suite have a mechanical carpark?

i think have

[rontan_83]

1loft got banga workers meh?

u mean those hanging outside? aiya see how it goes after TOP..still like2-3 yrs to go..maybe situation will change?

i still want to vote for WP for east coast grc in 2016.

...ya...many bangla hanging outside......

[babyt]

Anyone has any idea on the mechanical carpark noise? I understand some of these can be quite noisy. Dont really see much condo's with these but it is a unique factor i guess. Does #1 suite have a mechanical carpark?

some said if the motor is under or beside ur unit, then u can hear a faint gentle machine sound.

some said mechanical not good cos when the system is down, ur car is stucked until technician comes and fix it.

there are 80units but only 64 lots available...but i may not drive by then.

[rontan_83]

some said if the motor is under or beside ur unit, then u can hear a faint gentle machine sound.

some said mechanical not good cos when the system is down, ur car is stucked until technician comes and fix it.

there are 80units but only 64 lots available...but i may not drive by then.

Sis Iris Ng

The term "Completion on Foundation Works" shown in the progressive payment schedule, does it mean the completion of pilling works? If yes, what is the time frame required to complete the pilling works then?

[irisng]

Anyone has any idea on the mechanical carpark noise? I understand some of these can be quite noisy. Dont really see much condo's with these but it is a unique factor i guess. Does #1 suite have a mechanical carpark?

I think there are quite a few in Geylang apartments.

[irisng]

Sis Iris Ng

The term "Completion on Foundation Works" shown in the progressive payment schedule, does it mean the completion of pilling works? If yes, what is the time frame required to complete the pilling works then?

I think this question (time frame) has to leave it to the expert to answer you. I'm only "half past six".

Foundation work should be equal to piling work . I bought my unit in Mar 2011 and the foundation work was completed in Feb 2012. According to my agent at the time of purchase, he said that the foundation work for my project would be started only six months later, so in my case, it took about 5-6 months to complete. After piling, they still have to test the ground, so that's why foundation work takes longer time.

My TOP is supposed to be in Dec 2015 but it seems that it is about 1-2 years ahead of it.

[rontan_83]

I think this question (time frame) has to leave it to the expert to answer you. I'm only "half past six".

Foundation work should be equal to piling work . I bought my unit in Mar 2011 and the foundation work was completed in Feb 2012. According to my agent at the time of purchase, he said that the foundation work for my project would be started only six months later, so in my case, it took about 5-6 months to complete. After piling, they still have to test the ground, so that's why foundation work takes longer time.

My TOP is supposed to be in Dec 2015 but it seems that it is about 1-2 years ahead of it.

When is your TOP date?

[babyt]

iris, what is your project name? till now i dunno which condo u stayin.

[irisng]

When is your TOP date?

Not known yet but the internal plastering, doors and windows are in position already. Now left the installation of the electrical plant etc inside the house + car parks, roads and drains, so I guess it would be either end of this year or early next year.

[babyt]

my lawyer fee costs me $6k+ and another $700+ for CPF solicitors.

[irisng]

my lawyer fee costs me $6k+ and another $700+ for CPF solicitors.

I need not pay the lawyer fees as it is part of my loan package.

[babyt]

i think the new cooling measure means have to fork out laywer fee ourselves right?

[ernsttay]

perhaps you have indicated as for investment? bank are more willing to loan if indicated as own stay, like babyt.

That's what the bank told me too. Unfortunately, I already has a HDB so was not advisable to place it as own stay. (grey to me)

The place is too small for a young family with kids to stay. (unless its the 3 rooms one)