New! The Hillford (1st 60 years leasehold residential condo)

[Ringo33]

whats the maintenance fee for this project?

[sunboy77]

I kindof agree with him on the rental part.

But I opined that the Hillford owners can forget about re-selling. No savvy investor will want to buy a house that cannot take loan, cannot use CPF, because they will be thinking about how to re-sell too!

[Ringo33]

I kindof agree with him on the rental part.

But I opined that the Hillford owners can forget about re-selling. No savvy investor will want to buy a house that cannot take loan, cannot use CPF, because they will be thinking about how to re-sell too!

For someone with multiple property, to buy a MM unit you will need to set aside mini around $500-600K cash. So there should be many people who will be able to buy over with cash, without having to worry about bank loan or CPF. Just use this to generate rental income.

[sunboy77]

For someone with multiple property, to buy a MM unit you will need to set aside mini around $500-600K cash. So there should be many people who will be able to buy over with cash, without having to worry about bank loan or CPF. Just use this to generate rental income.

Good point.

[sunboy77]

I just did some simple math.

Even if you add in 13% stamp duties into the purchase price, plus the market not doing well and you rent out the 1BR at only $1500, the rental yield is still 4%!

Noting that one HDB master bedroom can be almost $1k rent in the market now...

[Ringo33]

I just did some simple math.

Even if you add in 13% stamp duties into the purchase price, plus the market not doing well and you rent out the 1BR at only $1500, the rental yield is still 4%!

Noting that one HDB master bedroom can be almost $1k rent in the market now...

if you buy it with cash, you dont even have to worry about interest rate.

I think this kind of project can make money, but quantum will be very small unless you go for multiple units.

Anyone know whats the maintenance fee?

[DC33_2008]

Do chk the maintenance as it will not be cheap.

I just did some simple math.

Even if you add in 13% stamp duties into the purchase price, plus the market not doing well and you rent out the 1BR at only $1500, the rental yield is still 4%!

Noting that one HDB master bedroom can be almost $1k rent in the market now...

[star]

We may see more 60, 70, 80 yrs leasehold units to cater to more people.

[Rosy]

My friend argued that if Suites de Laurel 1BR is renting out at least $2800 per month, then assuming Hillford 1BR is doing just $2k rental, that already translates to 8% yield!

Sounds logical. What do you guys think?

How do u get 8%?

Take 2k rental and 400k. Gross rental yield is 6%. Nett yield probably around 4-4.5% assuming no loan.

[Rosy]

The nearby good luck garden rental is about 2k plus for a nice 2 bedder twice the size over here.

There are also some other instances whereby a newly TOP 1bdr rental cost as much as a 5-10yo nearby 2bdr.

[sunboy77]

How do u get 8%?

Take 2k rental and 400k. Gross rental yield is 6%. Nett yield probably around 4-4.5% assuming no loan.

Sorry my bad.
Math not good.

[bargain hunter]

http://infopub.sgx.com/FileOpen/MR_H...&FileID=269815

Indicative prices* of units at The Hillford are set to start from an attractive
S$980psf – significantly below prices of brand new mass market condominium
projects in the Toh Tuck and Hillview districts. As such, units released at the
upcoming VIP Preview will start from S$388,000 for a 1-bedroom unit,
S$498,000 for 2-bedroom, and S$648,000 for 2-bedroom dual-key units.

[C&K]

S$980psf based on 60 years lease is similar to S$1,617psf based on 99 years lease.

How can this be considered to be lower than the psf of new mass market condos?

[iridrium]

S$980psf based on 60 years lease is similar to S$1,617psf based on 99 years lease.

How can this be considered to be lower than the psf of new mass market condos?

Lots of agent lurking here. So don't be too upset with all those motherhood statement made.

[C&K]

Lots of agent lurking here. So don't be too upset with all those motherhood statement made.

Thank you for your kind words.

I wrote to highlight that it translate to @S$1617 psf when compared to a new 99 years lease term.

[sunboy77]

S$980psf based on 60 years lease is similar to S$1,617psf based on 99 years lease.

How can this be considered to be lower than the psf of new mass market condos?

The Century 21 boss earlier even intrapolated it as $1800psf on the news! And he commented it is "VERY pricey".

[chestnut]

The Century 21 boss earlier even intrapolated it as $1800psf on the news! And he commented it is "VERY pricey".

So how does one interpolate a 99 year leashold with a 999 leasehold???? Interesting...I would be interested in any interpolation theory....

[sunboy77]

So how does one interpolate a 99 year leashold with a 999 leasehold???? Interesting...I would be interested in any interpolation theory....

Hahaha not too sure about that. But you made a good point too!

[sunboy77]

I think he might not have been using interpolating method. Think he was referring to topping up of the lease to 99 years. But not too sure how that works though.

[star]

Sherwood towers nearby is about $750psf to $850psf so a brand new condo Hillford is about $980psf. Btw Sherwood towers is very old and most are big quantum since units are big.

[lionhill]

Sherwood towers nearby is about $750psf to $850psf so a brand new condo Hillford is about $980psf. Btw Sherwood towers is very old and most are big quantum since units are big.

If Sherwood is enbloced, its lease will be extended to another 99 years.

How about this retirement village? is there a probability that its lease be exteded to another 99 years thirty years later?

[sunboy77]

Sherwood is MUCH closer to amenities but has no condo facilities.

Its studios (albeit big sizes) are doing rentals of $1.9k to $2.9k. So I guess it's not difficult to get $2k rent on The Hillford 1BR unit afterall.

[Photogguy]

Sherwood is MUCH closer to amenities but has no condo facilities.

Its studios (albeit big sizes) are doing rentals of $1.9k to $2.9k. So I guess it's not difficult to get $2k rent on The Hillford 1BR unit afterall.

.....rental should be better once MRT is running for his area, by the way Sherwood do have a pool actually...

[delirious]

2k rental or even slightly is achievable if not easily, given that one bedrooms in the completed developments nearby range from 2.5-2.9k

This will also have dedicated retail/restaurants below, adding on another perk for rentals

Given the current rental pricing in the area and factoring any "concerns" on the development, even if we price at the low end of the scale, look at the yields!

[Trigger]

What's the point of looking at yields if you can't get your principal back?

[eng81157]

2k rental or even slightly is achievable if not easily, given that one bedrooms in the completed developments nearby range from 2.5-2.9k

This will also have dedicated retail/restaurants below, adding on another perk for rentals

Given the current rental pricing in the area and factoring any "concerns" on the development, even if we price at the low end of the scale, look at the yields!

i don't buy the story on yield.

firstly, this project is targeting elder folks, not a MM meant for yuppies or well-to-do singles.

secondly, $1800 monthly rental is pretty steep for a retired folk. assuming that an elder folk has a fully paid-up HDB or apartment, why should they give up the shelter over their head and rent a unit here?

[iridrium]

i don't buy the story on yield.

firstly, this project is targeting elder folks, not a MM meant for yuppies or well-to-do singles.

secondly, $1800 monthly rental is pretty steep for a retired folk. assuming that an elder folk has a fully paid-up HDB or apartment, why should they give up the shelter over their head and rent a unit here?

Either do I. From people around that I spoken to, apparently, no many thinks it is good either as a investment nor own retirement needs.

So why are there 400 cheques? I suspect it is marketing gimmick more than actual demand. Let's see if how many of these cheques translate to sales.

[Ringo33]

i don't buy the story on yield.

firstly, this project is targeting elder folks, not a MM meant for yuppies or well-to-do singles.

secondly, $1800 monthly rental is pretty steep for a retired folk. assuming that an elder folk has a fully paid-up HDB or apartment, why should they give up the shelter over their head and rent a unit here?

Since when did the developer say that this project is for retirees only and what is restricting investors from renting out their apartment to young and able?

[mcmlxxvi]

Buy here to die here.

Its a nice place to retire.

But please dont bank on cap gain.

Next buyer may not get enough loan.

[onglai]

Buy here to die here.

Its a nice place to retire.

But please dont bank on cap gain.

Next buyer may not get enough loan.

like dat 30years lease enough.