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Thread: City fringe condos

  1. #241
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    There are a few plots of big land there, start from Neptune Court (Not fully privatised, and very difficult as well), Mandarin Garden (too huge), Laguna Park, Lagoon View, Bayshore Park, The Bayshore.

    The bit size and the number of units in Mandarin Garden, Bayshore Park and The Bayshore are too hugh and too many, thus make the collection of 80% painful. The risk to developers to pay ABSD is toooo high.

    Next Lagoon View (first attempt, Sales Committee appointed long ago), Laguna Park (just formed). Now, the future MRT station is just within minutes, and with Seaview, so, the SP would want very high asking, even more than EunosVille of $2.3m per unit as Eunos only has MRT but not seaview.

    So for LP, 527 units x 2.35m (say) = 1.2B and age of property is 99 yrs from 1978. ie 40 years....need a few hundred millions to top up..
    Same for LV, 480 units X 2.35 = 1.12B

    The project risk is really extremely high.

    If done at this price, the launch price with seaview may hit $1900 psf. So, is there a market ?

    Developers, most likely to take two small lands rather than just one huge one

  2. #242
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    guys, if bukit batok outskirts (not near the mrt) can be selling at 1280 psf, dont u think that D12/13 is severely underpriced?
    those in boon keng and potong pasir are just asking for 1300-1600 psf, and without doubt i think all would agree location-wise.. BB is incomparable. sometimes i dont know how the market works.

  3. #243
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    Quote Originally Posted by aspirations View Post
    guys, if bukit batok outskirts (not near the mrt) can be selling at 1280 psf, dont u think that D12/13 is severely underpriced?
    those in boon keng and potong pasir are just asking for 1300-1600 psf, and without doubt i think all would agree location-wise.. BB is incomparable. sometimes i dont know how the market works.
    oh definitely, BK and PP is just a few stops from town, that BB location don't even have MRT line nearby. especially PP it's gonna be hip in 5 years time. for eg, Shops at the Venue are starting to open. And Poiz and bidadari / sph woodleigh commercial, i could go on. Good place.

  4. #244
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    If sites with such attributes (basically unamenitised) are selling at 1280 psf, this will manifest strongly in next quarter's index. Unless they count their internal facilities (mixed development).

    Quote Originally Posted by aspirations View Post
    guys, if bukit batok outskirts (not near the mrt) can be selling at 1280 psf, dont u think that D12/13 is severely underpriced?
    those in boon keng and potong pasir are just asking for 1300-1600 psf, and without doubt i think all would agree location-wise.. BB is incomparable. sometimes i dont know how the market works.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  5. #245
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    Quote Originally Posted by Kelonguni View Post
    If sites with such attributes (basically unamenitised) are selling at 1280 psf, this will manifest strongly in next quarter's index. Unless they count their internal facilities (mixed development).
    Yes, definitely counted their own amenities.

    And, it's near the future "Second CBD"...

  6. #246
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    Quote Originally Posted by Laguna View Post
    So for LP, 527 units x 2.35m (say) = 1.2B and age of property is 99 yrs from 1978. ie 40 years....need a few hundred millions to top up..
    Same for LV, 480 units X 2.35 = 1.12B

    The project risk is really extremely high.

    If done at this price, the launch price with seaview may hit $1900 psf. So, is there a market ?

    Developers, most likely to take two small lands rather than just one huge one
    you're right on the bid size. But i got much higher than 1.12B.

    The plot is 670,000 sft, plot ratio is 2.8 at LP. Owners will want at least 800 psf ppr in this market. so 1.5B.

    Btw, is there a potential for Intensification of the plot to 3.5 to match seaview?

  7. #247
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    Quote Originally Posted by tonymontana View Post
    you're right on the bid size. But i got much higher than 1.12B.

    The plot is 670,000 sft, plot ratio is 2.8 at LP. Owners will want at least 800 psf ppr in this market. so 1.5B.

    Btw, is there a potential for Intensification of the plot to 3.5 to match seaview?
    Even the nearby Costa Del Sol is at 3.6 plot ratio under GLS years ago, under the master plan, all the other big lands are still 2.8

  8. #248
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    hung out at Tiong Bahru tonight.. IMHO its better than redhill... theres a mall, mix of new condos, old low-rise HDBs.. market/ cafes.. the vibe is pretty good. no wonder Highline is that expensive. 2000 psf!!

  9. #249
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    hi all..

    so fast forward 2 years, im done paying off my $1.2m condo in D12 and have about 200k cash in the bank. after months and months of hard work. im turning 30 in a few months (finally hitting the big 3 and not really looking forward to it haha). I believe my condo is now worth slightly more, maybe $1.3m (probably rode on the recent sky high prices in woodleigh and potong pasir) and I am still collecting monthly rental of about 2.7% p.a.

    still toying with the idea of selling this condo and moving on with a bigger one, in a more atas location. havent found the guts to make the big move yet, still waiting for the right moment/ opportunity to present itself. asked my parents for advice, and they are asking to wait and see for the next 1-2 years, and hopefully sell my current condo and reinvest in something bigger and better.

    should i make the big move now and ride on the high of potong pasir and woodleigh? perhaps wait a bit more for woodleigh residences to launch at their purported $>2k psf?

  10. #250
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    Older condos’ size and lower psf price a draw in prime districts

    The latest property cooling measures could cause homebuyers to search for more affordable options in the resale market. “Older condos have larger unit sizes and a more spacious living area,” says Jacqueline Wong, Savills Singapore head of residential services and private office. “The downside is that these old units will be in need of renovations.”
    As it is, some people have started to look at the resale market in the prime districts. A recent sale was at The Tomlinson, a 29-unit freehold develop ment at the corner of Tomlinson and Cuscaden Roads in prime District 10. The 20-storey luxury condo was completed 16 years ago and developed by Wing Tai Holdings.
    On July 3, a five-bedroom unit on the 17th floor was sold for $7.2 million ($1,944 psf). The seller had purchased it for $5.5 million ($1,485 psf) in 2004.

    https://www.edgeprop.sg/property-new...rime-districts

  11. #251
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    Quote Originally Posted by aspirations View Post
    hi all..

    so fast forward 2 years, im done paying off my $1.2m condo in D12 and have about 200k cash in the bank. after months and months of hard work. im turning 30 in a few months (finally hitting the big 3 and not really looking forward to it haha). I believe my condo is now worth slightly more, maybe $1.3m (probably rode on the recent sky high prices in woodleigh and potong pasir) and I am still collecting monthly rental of about 2.7% p.a.

    still toying with the idea of selling this condo and moving on with a bigger one, in a more atas location. havent found the guts to make the big move yet, still waiting for the right moment/ opportunity to present itself. asked my parents for advice, and they are asking to wait and see for the next 1-2 years, and hopefully sell my current condo and reinvest in something bigger and better.

    should i make the big move now and ride on the high of potong pasir and woodleigh? perhaps wait a bit more for woodleigh residences to launch at their purported $>2k psf?
    Congratulations on paying off your loan. Well done!

    You could put it on the market to see if it can move or not. Then re invest in D9 or D10.
    However, buying into a more atas location means you may have to sacrifice on size for the same budget. Or take on a new loan.
    If you're happy with your current (enviable) position, why not just wait a few years and see?

    Personally, assuming I plan to continue my career, I would not sell the current one but look to buy another unit.
    Last edited by tonymontana; 20-08-18 at 10:39.

  12. #252
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    Quote Originally Posted by aspirations View Post
    hi all..

    so fast forward 2 years, im done paying off my $1.2m condo in D12 and have about 200k cash in the bank. after months and months of hard work. im turning 30 in a few months (finally hitting the big 3 and not really looking forward to it haha). I believe my condo is now worth slightly more, maybe $1.3m (probably rode on the recent sky high prices in woodleigh and potong pasir) and I am still collecting monthly rental of about 2.7% p.a.

    still toying with the idea of selling this condo and moving on with a bigger one, in a more atas location. havent found the guts to make the big move yet, still waiting for the right moment/ opportunity to present itself. asked my parents for advice, and they are asking to wait and see for the next 1-2 years, and hopefully sell my current condo and reinvest in something bigger and better.

    should i make the big move now and ride on the high of potong pasir and woodleigh? perhaps wait a bit more for woodleigh residences to launch at their purported $>2k psf?
    https://forms.uob.com.sg/property/valuation/

    Check your property value now, then wait and check again 2 years later to use as a guide.

    Never use the X for selling, market lowest valuation.

  13. #253
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    Quote Originally Posted by aspirations View Post
    hi all..

    so fast forward 2 years, im done paying off my $1.2m condo in D12 and have about 200k cash in the bank. after months and months of hard work. im turning 30 in a few months (finally hitting the big 3 and not really looking forward to it haha). I believe my condo is now worth slightly more, maybe $1.3m (probably rode on the recent sky high prices in woodleigh and potong pasir) and I am still collecting monthly rental of about 2.7% p.a.

    still toying with the idea of selling this condo and moving on with a bigger one, in a more atas location. havent found the guts to make the big move yet, still waiting for the right moment/ opportunity to present itself. asked my parents for advice, and they are asking to wait and see for the next 1-2 years, and hopefully sell my current condo and reinvest in something bigger and better.

    should i make the big move now and ride on the high of potong pasir and woodleigh? perhaps wait a bit more for woodleigh residences to launch at their purported $>2k psf?
    u r at the age where the current policies are most favourable to u.
    anytime before 35, u can still max out 30 year loan. assuming u sell this current property, u will still be able to borrow 75% and pay no absd. judging from your ability to pay off the 1.2m before 30, i think u will easily pass the tdsr for whatever u r aiming for. in short, u have the option to still leverage up for that bigger property.

    the effect of gahmen policy is that it flattens prices and reduces volatility. u should be doing your research now to look for anomalies to the otherwise stable prices. u can look out for mortgagee sales to get an estimate of what u can buy at what bargain price.

  14. #254
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    This forum do have all sorts of investors and buying power. I have never met anyone who can pay off their million dollar loans before age 30. Indeed, there is still plenty of options out there but do not take too long. Time is the fairest of all.

  15. #255
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    Quote Originally Posted by PropVestor View Post
    This forum do have all sorts of investors and buying power. I have never met anyone who can pay off their million dollar loans before age 30. Indeed, there is still plenty of options out there but do not take too long. Time is the fairest of all.
    Mentioned parents guidance. Most likely parental support as well.

    But good position to be in.

    I will try to be such a parent in the future.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  16. #256
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    Ever considered Mount Sofia area?

    https://www.edgeprop.sg/property-new...-future-launch

  17. #257
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    I use a different approach. Instead of paying off the loan, i use the fund to buy another condo and lease out the current one where the rental is sufficient to service the instalment. i always think that you must have more than 1 property to play in the market. If you only have one, you will have to sell high buy high... then it is meaningless...

  18. #258
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    hi all, yes ive considered buying a 2nd property since ive paid off the first one. but the ABSD is really a turn off and i dont feel it makes sense to pay so much more just to own a 2nd property. will continue to work hard for now an accumulate for $ for now

  19. #259
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    Honestly some very beautiful, impressive city fringe condos listed here if you'd like. >>

    5 ECO-FRIENDLY SINGAPORE CONDOS TO LIVE IN:
    https://www.edgeprop.sg/property-new...re-condos-live

  20. #260
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    And this one. Click the link to see pictures. https://www.edgeprop.sg/property-new...ose-heart-city

    JADESCAPE: A unique living experience close to the heart of the city

    WHEN Qingjian Group bought the Shunfu Ville en bloc in 2016, it marked the first purchase of a collective sale site in Singapore by the Hong Kong-listed construction and real estate player. Qingjian was ahead of the collective sale wave that took off last year.
    The new, well-located and much-anticipated project to be built on the former Shunfu Ville private HUDC estate is called JadeScape, and is the largest residential project in Qingjian’s Singapore portfolio so far. The project has 1,206 residential units sitting on a 398,114 sq ft plot. The project is designed by award-winning architectural firm Tange Associates, which is headed by celebrated Harvard-trained Paul Tange, son of the legendary Kenzo Tange, who founded Kenzo Tange Studios in 1946.

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