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Thread: laguna park, neptune court, lagoon view condos...

  1. #1

    Default laguna park, neptune court, lagoon view condos...

    hi ppl.
    am looking at laguna park, neptune court and lagoon view unit as they are facing seaview and bigger in size compared to newer project.
    only flip side is that they are old and not as well eqquiped as newer projects.
    but can any kind soul pls advice me which of the 3 is a better buy of the 3? currently saw a hdb in marine parade with full seaview high floor unit already asking 700k.
    have read so much about neptune courtl, agoon view, and laguna park being enbloc. is it possible still?
    and can anyone advice me if the land the project sit on belong to ministry of finance or singapore land authority, will there be any different when going enbloc? and where can i find out this information. i read that neptune court belong to mof and if wanna go enbloc, may have to pay a hefty sum to mof. reason?
    saw a 1620sqft unit at neptune court with seaview asking 900k. most units going from 500psf to 700psf for the 3 projects from ura website
    can any advice the cons of living in a 30over property?
    and will getting a unit above 30years be harder to secure loan?
    also if near to the highway, is the noise level bearable? now staying in a quiet estate so dunno if my torlerance level is how much...
    thanks...

  2. #2

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    Hi deljunk,

    I think we are in the same position. Am also looking for sea view unit and also viewed the $700k HDB flat (at blk 14 right? ). Was close to buying it, then went to check out the HDB resale flat price index, and seems silly to buy now cos it is as high as 1996 when the HDB resale market was red-hot. Also have the problem of reselling it later, I think... who will buy or be able to get a loan for a 50 year old flat?

    Anyway, I also went to view mandarin garden. Have not viewed any at Lagoon View or Neptune court cos no time... but I personally feel that these developments are too far from the marine Parade central. So now looking around at the condos ard St Patrick. Closer to Marine Parade central and many freehold... wait for prices to fall more first...

    Wanted a HDB cos for own stay, and thought can free up $$ for investment elsewhere... but the price difference between HDB and private aren't that much in the area... so personally think getting condo more worth while for mp... though the view sucks... no sea view!

  3. #3

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    I would like to offer my views and I hope you will find them helpful, but please dont hold me to it.

    Laguna Park (LP) already privatised and secured 80% to embark on the trail of going en bloc. Now, the residents will wait to see if any developers will "bite" .

    Both Neptune Court (NC) and Lagoon View (LV) both yet to be privatised. NC, as you may have read in the papers, the common areas and car park space belong to MOF and during the run up to enbloc, a sum of $144m was quoted to privatise the estate. Apparently this figure has been been slashed drastically recently. There is a committee that has been tasked to negotiate further with SLA in regards to this matter. LV, as far as I know, apparently the privatisation sum is "less than" as compared to NC based on per foot basis, I dont know why there is a difference really.

    I personally prefer NC amongst the 3. The schools and HDB amentities are much nearer to NC, more buses ply along Marine Parade Road than the other 2 and what I like most is that there is a "private" exit for NC via Marine Vista..

    Just my 2 cents' worth..Happy Hunting...

  4. #4
    Join Date
    Jan 2009
    Posts
    286

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    personally, i find that older developments means more renovation works involved. particularly for very old ones, because you need to rewire the whole hse to prevent short circuits. recently a unit at neptune court (dec 08) caught fire due to that reason. so just be prepared to fork out this money.

    I believe these properties u mention are all leasehold property, and it will be difficult for propesctive buyers to get cheap financing since they are quite old development. It will be a good investment if there is a prospect of enbloc sale in later years.

  5. #5
    Join Date
    May 2006
    Posts
    8,129

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    http://www.straitstimes.com/Prime%2B...ry_366705.html

    April 22, 2009 Wednesday

    Ex-condo chief scoffs at fine for mischief

    I can afford $1,200 fine, he says. He stuck glue in keyholes of two units

    By Elena Chong & Kimberly Spykerman


    FOR his acts of mischief in Laguna Park condominium, Lee Kok Leong, 62, former chairman of its management committee, was fined $1,200.

    Arms folded as he sat in the dock yesterday, he told reporters: 'Fine, then fine lah. After all, I can afford it. I can spend $4,000 in one night on karaoke.'

    The general manager of a shipping company was so sure he would not be jailed that he had made plans to go to his office in Bukit Merah later in the day.

    Earlier, he had pleaded guilty to inserting super glue into the keyholes of the padlock, front and rear gates of Mr Yap Cher Sim's flat at Block 5000E on Aug 25 last year. For that, he was fined $800.

    That same day, he did the same thing to another flat in the same block, belonging to Ms Alice Elizabeth Rappa. That resulted in another $400 fine.

    Lee could also have been jailed up to a year for the offences, on top of being fined.

    The Community Court heard that he had been caught in the act by the closed-circuit television camera installed by Mr Yap along the common corridor.

    Lee later told police he had bought two tubes of super glue a day earlier with the aim of damaging Mr Yap's unit. Someone had done the same super glue stunt to his own letterbox earlier, he claimed.

    The acts of vandalism in the Marine Parade condominium came to light last July amid a row which erupted among residents over whether the condominium should be sold en bloc.

    Among those who opposed the sale were Mr Yap and Ms Rappa. At that time, a regular apartment in the 530-unit condominium could have fetched more than $2.1 million in a collective sale. A penthouse owner could have received almost $4 million.

    Proponents had included Lee, a 1998 Public Service Medal recipient who has lived there for the past 30 years.

    His lawyer, Mr Ramesh Tiwary, said his client wanted a nest egg for his retirement and was unhappy at attempts to derail the collective sale process.

    He was so upset that he suffered a relapse of a psychiatric condition which he had been diagnosed with since 1998, Mr Tiwary told Community Court judge Soh Tze Bian yesterday.

    Dr Ung Eng Khean, a senior consultant psychiatrist and psychotherapist, confirmed this in his medical report, saying that Lee had a relapse of 'moderate to severe depression' last June.

    The court case is not the end of the mischief that has plagued Laguna Park residents. Mr Larry Chan, 51, filed a police report after he found his mailbox forced open, its metal flap bent, and all the mail removed two weeks ago.

    Residents told The Straits Times that the lift button for the ninth floor, where Mr Yap and Ms Rappa live, has been burnt three times. The last time was two months ago.

    Lee has paid for the damage he caused to his neighbours' property, amounting to about $600.

    But no, he had not apologised to them, he told reporters. And no, he had no regrets about what he had done.

    'What's there to regret? What's done is done. I am not remorseful.'

    Asked if he knew about the recent vandalism acts in his condominium, he shrugged his shoulders and said: 'Yes I heard about it. But it's none of my business.'

    elena@sph.com.sg

    kimspyke@sph.com.sg

  6. #6
    Join Date
    Dec 2008
    Posts
    3,719

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    get this type of neighbours also ...

  7. #7

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    Quote Originally Posted by iemuhs
    Hi deljunk,

    I think we are in the same position. Am also looking for sea view unit and also viewed the $700k HDB flat (at blk 14 right? ). Was close to buying it, then went to check out the HDB resale flat price index, and seems silly to buy now cos it is as high as 1996 when the HDB resale market was red-hot. Also have the problem of reselling it later, I think... who will buy or be able to get a loan for a 50 year old flat?

    Anyway, I also went to view mandarin garden. Have not viewed any at Lagoon View or Neptune court cos no time... but I personally feel that these developments are too far from the marine Parade central. So now looking around at the condos ard St Patrick. Closer to Marine Parade central and many freehold... wait for prices to fall more first...

    Wanted a HDB cos for own stay, and thought can free up $$ for investment elsewhere... but the price difference between HDB and private aren't that much in the area... so personally think getting condo more worth while for mp... though the view sucks... no sea view!
    hi,
    have called the agent for blk 14 also but have not view the unit yet. but i believe the view should be fanstatic. but dunno the noise level will be bearable or not.
    wat you think of the unit?
    am looking at laguna as the price between this blk 14 and laguna is not too much difference. thats why in a delima... but i believe prices will drop further down the road so not really in a hurry to commit unless a good deal come also...

  8. #8

    Default

    Quote Originally Posted by tkc2263
    I would like to offer my views and I hope you will find them helpful, but please dont hold me to it.

    Laguna Park (LP) already privatised and secured 80% to embark on the trail of going en bloc. Now, the residents will wait to see if any developers will "bite" .

    Both Neptune Court (NC) and Lagoon View (LV) both yet to be privatised. NC, as you may have read in the papers, the common areas and car park space belong to MOF and during the run up to enbloc, a sum of $144m was quoted to privatise the estate. Apparently this figure has been been slashed drastically recently. There is a committee that has been tasked to negotiate further with SLA in regards to this matter. LV, as far as I know, apparently the privatisation sum is "less than" as compared to NC based on per foot basis, I dont know why there is a difference really.

    I personally prefer NC amongst the 3. The schools and HDB amentities are much nearer to NC, more buses ply along Marine Parade Road than the other 2 and what I like most is that there is a "private" exit for NC via Marine Vista..

    Just my 2 cents' worth..Happy Hunting...
    hi,
    ya nc have better location as compared to the other 2 project. but i believe the view are not as directly seaview from the blocks layout.
    will carry on looking for the best possible unit...
    thanks

  9. #9

    Default

    Quote Originally Posted by shespawn
    personally, i find that older developments means more renovation works involved. particularly for very old ones, because you need to rewire the whole hse to prevent short circuits. recently a unit at neptune court (dec 08) caught fire due to that reason. so just be prepared to fork out this money.

    I believe these properties u mention are all leasehold property, and it will be difficult for propesctive buyers to get cheap financing since they are quite old development. It will be a good investment if there is a prospect of enbloc sale in later years.
    actually i am looking a this few projects as they are mostly bigger in size as compared to newer project in this area. but being old, loan dunno will be an issue or not. as if few years down the road no enbloc, and i wanna sell, may be difficult for new buyer to get loan.
    as they have full seaview units. so most prob is buying for own stay and if in future enbloc, then will be heng heng tio jackpot...
    cheers

  10. #10

    Default

    I guessed if you are looking to buy a unit from either of the 3, you must be prepared to spend some moolah for renovations, that means not only rewiring but also re-piping and the such. What I like about these developments is that the layout is not odd, but boxy and rectangular and also boast high ceiling.

    It took me about 2 months back in 1999 before I bought a good facing unit in NC. My balcony faces Mandarin Gardens and has a fairly commanding seaview although it is just below 11th floor. If you buy any units in blocks 1, 2 and 3, I am afraid to say that you will be very near the ECP, (prefably blk 4 and 5, if you can) but as time goes on, you will get used to the noise/sound from the ECP. Also if you have the patience, try not to buy those balconies facing VJC, otherwise you will have to face the hot blistering sun in the afternoon..and mind you its damn hot.

    Even if these developments dont go en bloc, I can assure you that the living environment is indeed pleasant. NC is very well kept and maintained till these days., I believe LV and LP are too..

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