View Full Version : Hillford retirement resort - all 281 units - snapped up
Bt Timah project sold out in 5 hours, at an average of $1,100 psf
ALL 281 units at what is billed as Singapore's first retirement resort were snapped up within five hours yesterday. About 1,000 prospective buyers, who had earlier indicated their interest in the 60-year leasehold The Hillford, thronged the launch hoping to secure a unit.
Prospective buyers that BT spoke to cited affordability as the main driver for their decision to purchase a unit. Fifty-five year old Desmond Tan, who was the first in line to get a unit, opted for a pool-facing two-room unit (506 square feet). He paid $601,000 for his unit.
"The lease is only for 60 years, but the main consideration is affordability," said Mr Tan, who is self-employed. While his four children live with him, he hopes to live at The Hillford with his wife when his unit is ready. The project is expected to get its Temporary Occupation Permit in November 2017.
Units at The Hillford were sold at an average of $1,100 per square foot. The majority of the units - 186 - are in one-bedroom configurations (398-431 sq ft) and had a starting price of $388,000. The 52 two-bedroom units (506-560 sq ft) had starting prices of $498,000 and the remaining 40 two-bedroom dual key units (657 sq ft) had starting prices of $648,000.
The theme of affordability was echoed by another buyer who picked up a one-bedroom unit, stressing it was the price quantum, and not so much the facilities provided by The Hillford, that drew him to the project. A mix of middle-aged buyers as well as younger buyers in their 20s were seen at the showflat yesterday morning.
According to the developer, World Class Land, a substantial proportion of buyers were over 50 years of age. "We are very excited that The Hillford has sold out within the first day of sales," said Koh Wee Seng, chief executive officer of World Class Land. "The response to Singapore's first retirement resort has been spectacular, with many buyers responding very positively to The Hillford's wide range of elder-friendly features, services and facilities specially introduced to serve their needs."
The project promises elder-friendly features such as non-slip floor finishes, wider corridors and doorways for wheelchairs, and grab bars in common areas and in the units as an option. It also boasts a 24-hour concierge service and a dedicated, full-time resort manager to take care of residents' well-being. The Hillford is located on Jalan Jurong Kechil, in Bukit Timah.
Astronotus oscellatus
18-01-14, 08:42
Amongst the potential buyers were young PRs who face obstacles buying their first home, like a 29 yrs old Malaysian PR...hmmm...never too young to plan for "retirement" I guess...60 yrs lease should be enough unless longevity sabotages them.
matrix0405
18-01-14, 08:45
This blows away the 60 yr leased boggey man. Come TOP, only 55 years left.
So fully sold, next thing is for MND to tell us how many units were bought by people over 50 years old and meant for retiring? Otherwise it just doesn't make sense that MND/URA approve it as "retirement homes" full of MMs (bypassing previous no super small MM law) but yet this project can be full of MMs and bought by many younger people! Otherwise what is that "no MM" law for?! :tsk-tsk:
Bt Timah project sold out in 5 hours, at an average of $1,100 psf
ALL 281 units at what is billed as Singapore's first retirement resort were snapped up within five hours yesterday. About 1,000 prospective buyers, who had earlier indicated their interest in the 60-year leasehold The Hillford, thronged the launch hoping to secure a unit.
Prospective buyers that BT spoke to cited affordability as the main driver for their decision to purchase a unit. Fifty-five year old Desmond Tan, who was the first in line to get a unit, opted for a pool-facing two-room unit (506 square feet). He paid $601,000 for his unit.
"The lease is only for 60 years, but the main consideration is affordability," said Mr Tan, who is self-employed. While his four children live with him, he hopes to live at The Hillford with his wife when his unit is ready. The project is expected to get its Temporary Occupation Permit in November 2017.
Units at The Hillford were sold at an average of $1,100 per square foot. The majority of the units - 186 - are in one-bedroom configurations (398-431 sq ft) and had a starting price of $388,000. The 52 two-bedroom units (506-560 sq ft) had starting prices of $498,000 and the remaining 40 two-bedroom dual key units (657 sq ft) had starting prices of $648,000.
The theme of affordability was echoed by another buyer who picked up a one-bedroom unit, stressing it was the price quantum, and not so much the facilities provided by The Hillford, that drew him to the project. A mix of middle-aged buyers as well as younger buyers in their 20s were seen at the showflat yesterday morning.
According to the developer, World Class Land, a substantial proportion of buyers were over 50 years of age. "We are very excited that The Hillford has sold out within the first day of sales," said Koh Wee Seng, chief executive officer of World Class Land. "The response to Singapore's first retirement resort has been spectacular, with many buyers responding very positively to The Hillford's wide range of elder-friendly features, services and facilities specially introduced to serve their needs."
The project promises elder-friendly features such as non-slip floor finishes, wider corridors and doorways for wheelchairs, and grab bars in common areas and in the units as an option. It also boasts a 24-hour concierge service and a dedicated, full-time resort manager to take care of residents' well-being. The Hillford is located on Jalan Jurong Kechil, in Bukit Timah.
This blows away the 60 yr leased boggey man. Come TOP, only 55 years left.
In 40 years it will get en block anyway. Quantum is king now.
In 40 years it will get en block anyway. Quantum is king now.
Unlikely that it will get lease top up from SLA. This is not HDB flat.
quantum is indeed king.
anything between $450k-$600k can be sold out in 1 day ... huat ah!
$600k is indeed peanut in today property context!
In 40 years it will get en block anyway. Quantum is king now.
When property can be so cheap, you know they are of lousy value... :rolleyes:
Good things never will be cheap, ........................ :p
especially when there are already so many restrictions to discourage these people to buy but only this one exceptional still can build super small MMs, like 2bedrooms only 495 sqft! :banghead:
quantum is indeed king.
anything between $450k-$600k can be sold out in 1 day ... huat ah!
$600k is indeed peanut in today property context!
I am indeed humbled by the sale performance. My logical head tells me that any logical person will not buy this underdeveloped concept, over priced, under tenure development.
Indeed I'm proven wrong, but is this a viable investment? Only time will tell. :beats-me-man:
I think it's a good buy.
For 2 bedder cost 500k.
Rental 3k per year and for 20 years . It cost 600k.
That is to say for next 35 year you enjoy free rental. If construction time take 5 years to build.
So fully sold, next thing is for MND to tell us how many units were bought by people over 50 years old and meant for retiring? Otherwise it just doesn't make sense that MND/URA approve it as "retirement homes" full of MMs (bypassing previous no super small MM law) but yet this project can be full of MMs and bought by many younger people! Otherwise what is that "no MM" law for?! :tsk-tsk:
aiyo, why you like to kpkb about others are buying? Just because you cant afford it or dont like it, that doesnt mean it must be bad right?
Why you buy property? For consumption? If so, you may just buy those very old ones, with lease running down, much cheaper.
2bedders 495 sqft can rent $3k per month continuously for 20 years? I doubt it very much. And you forget to add in much higher maintenance fees (because of "retirement old people" features and services), property taxes, repairs and maintenance due to wear and tear etc if you own it (vs renting).
I think it's a good buy.
For 2 bedder cost 500k.
Rental 3k per year and for 20 years . It cost 600k.
That is to say for next 35 year you enjoy free rental. If construction time take 5 years to build.
Large units ccr cannot make money now. Every month large units in ccr price is dropping. MM is the king, quantum is the king.
This development is going to have the HIGHEST death rate as there are so many old folks staying there. Clubhouse can be used to host funeral or not?
I think it's a good buy.
For 2 bedder cost 500k.
Rental 3k per year and for 20 years . It cost 600k.
That is to say for next 35 year you enjoy free rental. If construction time take 5 years to build.
like that (assuming no interest as above and maintenance sinking fee assumeing fixed which is unlikely and that depend how many units in one estate..the more the lesser, the lesser the more to pay :D)Let say if an OCR at east 470sqft 99LH selling $4XXK, loan let say worst case, 30 yrs...3 yrs to build, enjoy free rental 66 yrs....further more capital appreciation not taken into account if let go after 5yrs...:p
This development is going to have the HIGHEST death rate as there are so many old folks staying there. Clubhouse can be used to host funeral or not?
That is a good question!
This development is going to have the HIGHEST death rate as there are so many old folks staying there. Clubhouse can be used to host funeral or not?
if can use.. just keep the funeral setting and use plastic flowers ... then pple just need to change photo... no need install dismantle install dismantle so mafan...
:D:D
AGM will be exciting and the composition of retirees and young owners will be interesting.
I think it's a good buy.
For 2 bedder cost 500k.
Rental 3k per year and for 20 years . It cost 600k.
That is to say for next 35 year you enjoy free rental. If construction time take 5 years to build.
Patrickstar
18-01-14, 13:41
I think developers love to hear that coz they make more money from people with such mentality :D
MM is the king, quantum is the king.
Who still think large size ccr can make money go ahead and buy. Stamp duty is a large sum. Large size ccr will only chiong when absd for foreigners r remove. But they won't do it because foreigners got to pay absd if not singaporeans will make noise.
Large units ccr cannot make money now. Every month large units in ccr price is dropping. MM is the king, quantum is the king.
missed the retirement boat? nvm, still got 玉格格 sanpan :ashamed1:
my offer to sell u my mm after 39yrs is still valid :D
Who still think large size ccr can make money go ahead and buy. Stamp duty is a large sum. Large size ccr will only chiong when absd for foreigners r remove. But they won't do it because foreigners got to pay absd if not singaporeans will make noise.
I am sure we all know who is the one in this forum who is desperately hoping that old CCR property in the wrong side of CCR will become star performance again.
Affordability is key now with all the restrictions. Guys i ve a brilliant plan. Lets pool our money together, bid for a 30 years lease estate, and sell 100 square feet "retirement homes" at $200k each!! Cheap cheap!!! Sure sell out within half an hour. :D
In 40 years it will get en block anyway. Quantum is king now.
I am not certain that in 40 years time, it will be enbloc. Old forks dun need the money, they will prefer the company.
Affordability is key now with all the restrictions. Guys i ve a brilliant plan. Lets pool our money together, bid for a 30 years lease estate, and sell 100 square feet "retirement homes" at $200k each!! Cheap cheap!!! Sure sell out within half an hour. :D
100sf is not a retirement home, but a hospital bed...
:D:D
Who still think large size ccr can make money go ahead and buy. Stamp duty is a large sum. Large size ccr will only chiong when absd for foreigners r remove. But they won't do it because foreigners got to pay absd if not singaporeans will make noise.
Hkg is the land of super MM, but big units command super high psf.... I dare say we will move towards that direction in due time
puffer_fish
18-01-14, 15:38
Personally, I wont buy ...........but if others see values and potential in it, who am I to comment:ashamed1:
perhaps, they might indeed be having the last laugh.
Affordability is key now with all the restrictions. Guys i ve a brilliant plan. Lets pool our money together, bid for a 30 years lease estate, and sell 100 square feet "retirement homes" at $200k each!! Cheap cheap!!! Sure sell out within half an hour. :D
Good idea leh let others go and buy and we just see, don't touch and earn their money...sama as industry..60 yrs price shoots up introduce 30 yrs ...companies ok just buy to do business still want them but heard from agents those who bought shorter LH just for investment only now want to let go very difficult...have to hold for good with rental or without rental..:p
office and commercial usually 99 yrs or FH or 999(esp upp Bukit timah near jurong kencil hor) ....again retirement village 60yrs first for commercial...??:p
personally it is an adoption of the same strategy from the industry area to residential area but with a more charitable name' retirement resort'...
I wonder will there be developer, holding a long term view of SG property market, start bidding for 99LH land then sell as 60LH? :D
I wonder will there be developer, holding a long term view of SG property market, start bidding for 99LH land then sell as 60LH? :D
to maximise the chopping carrot, 30 yrs LH chop 3 times... ma...
Singaporean making noise about Why PR can buy HDB but they still let them buy, so?
Who still think large size ccr can make money go ahead and buy. Stamp duty is a large sum. Large size ccr will only chiong when absd for foreigners r remove. But they won't do it because foreigners got to pay absd if not singaporeans will make noise.
Only if they can sell as MM?
I wonder will there be developer, holding a long term view of SG property market, start bidding for 99LH land then sell as 60LH? :D
Only if they can sell as MM?
I suppose even if not MM, 60LH still will be cheaper than 99LH in terms of quantum....
bigger guy like feo, maybe can sell at very low margin, but holding the extra 39yrs lease.... longevity in business :D
I suppose even if not MM, 60LH still will be cheaper than 99LH in terms of quantum....
bigger guy like feo, maybe can sell at very low margin, but holding the extra 39yrs lease.... longevity in business :D
Developers sells MM good for them what, tua tua tan tan(earn money)...low quantum overall to attract buyers at this moment of time(TDSR) but command high psf and maybe can squeeze more units out... like retirement resort...:D
Affordability is key now with all the restrictions. Guys i ve a brilliant plan. Lets pool our money together, bid for a 30 years lease estate, and sell 100 square feet "retirement homes" at $200k each!! Cheap cheap!!! Sure sell out within half an hour. :D
u tink chin cai lang got lui nia suka suka can be developer? I tink better for us to pool our $ tgt, set up a finance coy to lend ppl $ :D
Busy body yesterday me, went to the showroom on the day of balloting. saw some buyers congratulating themselves "heng ah" "heng ha" managed to get a unit or two never mind the units were not their first choice units because the units were being snapped up fast and furious. I wonder how many will regret and upset later when they find out that there a lot of returned units are available a month or 2 from now? 100% sold, let's wait and check to see how many caveats actually lodged or OTP, S&P exercised...only time will tell if half of the buyers are phantom buyers.
I rather sell my freehold condo, take the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away. Renovate it with elder-friendly features, still have extra cash to go holiday and spend in my golden years. It is as good as a so-called "retirement home" less the frills of a 24 hrs concierge (pay monthly fee) and restaurant (what if the food suck? where do u go if there is no food court nearby?). What a retiree needs is not paying for a 24 hrs concierge but 24 hrs access to doctor and clinic hotline at a press of a button for emergency.
Make sense hah, instead of 24 hrs concierge, they should have a 24 hrs clinic man by a nurse and doctor in Hillford! They should also have alarm linked to the 24 hrs clinic! Otherwise how to cater to retirees? :rolleyes:
Frankly speaking, no age limit to buying, does it mean that they don't really only aim for retirees only?
Busy body yesterday, went to the showroom on the day of balloting. some buyers congratulating themselves "heng ah heng ha" managed to get a unit or two never mind the units were not their first choice units because the units were being snapped up fast and fury. I wonder how many will regret and upset later when they found out that returned units available a month or 2 from now? 100% sold, let's wait and check to see how many caveats actually lodge or OTP, S&P exercised...only time will tell of half of the buyers are phantom buyers.
I rather sell my freehold condo, the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away. Renovate it with elder-friendly features, still have extra cash to travel and spend in my golden years. It is as good as a so-called "retirement home" less the frills of a 24 hrs concierge (pay monthly fee) and restaurant (what if the food suck? where do u go if there is no food court nearby?). What a retiree needs is not paying for a 24 hrs concierge but 24 hrs access to doctor and clinic hotline at a press of a button for emergency.
Make sense hah, instead of 24 hrs concierge, they should have a 24 hrs clinic man by a nurse and doctor in Hillford! They should also have alarm linked to the 24 hrs clinic! Otherwise how to cater to retirees? :rolleyes:
Frankly speaking, no age limit to buying, does it mean that they don't really only aim for retirees only?
It is just a MM with 60 year leasehold.. Nothing to do with retirement.. Retirement Village is the just for marketing. The MM is for the low quantum.
If this is not retirement village, then it doesn't make sense that URA/MND allow Hillford to bypass recently passed law that states that a condo estate cannot have average size per unit <70 sqm!!! URA/MND should clarify on this! :banghead:
It is just a MM with 60 year leasehold.. Nothing to do with retirement.. Retirement Village is the just for marketing. The MM is for the low quantum.
Retirement Resort is for those who use their eye to see, cheap MM is for those who use their money to buy.
You need to get people to be excited and than slowly you start to sell 60 years leasehold and lot of people will be very happy.
Busy body yesterday me, went to the showroom on the day of balloting. saw some buyers congratulating themselves "heng ah" "heng ha" managed to get a unit or two never mind the units were not their first choice units because the units were being snapped up fast and furious. I wonder how many will regret and upset later when they find out that there a lot of returned units are available a month or 2 from now? 100% sold, let's wait and check to see how many caveats actually lodged or OTP, S&P exercised...only time will tell if half of the buyers are phantom buyers.
I rather sell my freehold condo, take the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away. Renovate it with elder-friendly features, still have extra cash to go holiday and spend in my golden years. It is as good as a so-called "retirement home" less the frills of a 24 hrs concierge (pay monthly fee) and restaurant (what if the food suck? where do u go if there is no food court nearby?). What a retiree needs is not paying for a 24 hrs concierge but 24 hrs access to doctor and clinic hotline at a press of a button for emergency.
I find it your thinking is make sense and more practical.
Actually Hillford sold out news make me want to smile.I was buying 1238 sqf Condo on 2012 which is have 84 years lease left. And I only pay for 785k. If people paying 600k today for almost halve size and get 55 Years Lease Left. this is show that either my Condo is under value or The Hillford is Over value.
Busy body yesterday me, went to the showroom on the day of balloting. saw some buyers congratulating themselves "heng ah" "heng ha" managed to get a unit or two never mind the units were not their first choice units because the units were being snapped up fast and furious. I wonder how many will regret and upset later when they find out that there a lot of returned units are available a month or 2 from now? 100% sold, let's wait and check to see how many caveats actually lodged or OTP, S&P exercised...only time will tell if half of the buyers are phantom buyers.
I rather sell my freehold condo, take the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away. Renovate it with elder-friendly features, still have extra cash to go holiday and spend in my golden years. It is as good as a so-called "retirement home" less the frills of a 24 hrs concierge (pay monthly fee) and restaurant (what if the food suck? where do u go if there is no food court nearby?). What a retiree needs is not paying for a 24 hrs concierge but 24 hrs access to doctor and clinic hotline at a press of a button for emergency.
Not too long ago, many people are saying that people buying MM will regret when their project TOP as the unit size are not livable or cannot find tenant to pay this kind of ridicules rent.
Fast forward 5 years, MM units are still selling like hot cake and commanding decent rental yield.
What you are saying about selling old development to buy HDB is a theoretically and financially wise move, only IF are you welling to down grade and forgo your condo lifestyle and move into HDB living among people with much lower income and social status.
However I am sure many people who grew up in condo will still treasure their lifestyle instead of thinking of living in HDB. Hence instead of downgrade they downsize. As many will say, life is short why dont spend the remaining of my retirement life in a place which I feel comfortable.
I suppose what you are saying about cash out move to HDB and go for holiday is a reflection of your current financial standing and that to me is irrelevant to the selling proposition of hillford because i am sure many of those who bought Hillford can easily afford for holidays without having to move into a 200K HDB flat. In fact to them everyday living at retirement village should be like having holiday and thats exactly why people are paying a premium for the amenities and services
Amazing results...a bit scary though
If the target segment is indeed retirement aged group and well to do to rent or buy such a shoebox unit, they may probably are rich anyway.
Not only getting smaller, it is 60 yrs leasehold...and at the point where interest rate is about to rise.:tsk-tsk:
Bt Timah project sold out in 5 hours, at an average of $1,100 psf
ALL 281 units at what is billed as Singapore's first retirement resort were snapped up within five hours yesterday. About 1,000 prospective buyers, who had earlier indicated their interest in the 60-year leasehold The Hillford, thronged the launch hoping to secure a unit.
Prospective buyers that BT spoke to cited affordability as the main driver for their decision to purchase a unit. Fifty-five year old Desmond Tan, who was the first in line to get a unit, opted for a pool-facing two-room unit (506 square feet). He paid $601,000 for his unit.
"The lease is only for 60 years, but the main consideration is affordability," said Mr Tan, who is self-employed. While his four children live with him, he hopes to live at The Hillford with his wife when his unit is ready. The project is expected to get its Temporary Occupation Permit in November 2017.
Units at The Hillford were sold at an average of $1,100 per square foot. The majority of the units - 186 - are in one-bedroom configurations (398-431 sq ft) and had a starting price of $388,000. The 52 two-bedroom units (506-560 sq ft) had starting prices of $498,000 and the remaining 40 two-bedroom dual key units (657 sq ft) had starting prices of $648,000.
The theme of affordability was echoed by another buyer who picked up a one-bedroom unit, stressing it was the price quantum, and not so much the facilities provided by The Hillford, that drew him to the project. A mix of middle-aged buyers as well as younger buyers in their 20s were seen at the showflat yesterday morning.
According to the developer, World Class Land, a substantial proportion of buyers were over 50 years of age. "We are very excited that The Hillford has sold out within the first day of sales," said Koh Wee Seng, chief executive officer of World Class Land. "The response to Singapore's first retirement resort has been spectacular, with many buyers responding very positively to The Hillford's wide range of elder-friendly features, services and facilities specially introduced to serve their needs."
The project promises elder-friendly features such as non-slip floor finishes, wider corridors and doorways for wheelchairs, and grab bars in common areas and in the units as an option. It also boasts a 24-hour concierge service and a dedicated, full-time resort manager to take care of residents' well-being. The Hillford is located on Jalan Jurong Kechil, in Bukit Timah.
I find it your thinking is make sense and more practical.
Actually Hillford sold out news make me want to smile.I was buying 1238 sqf Condo on 2012 which is have 84 years lease left. And I only pay for 785k. If people paying 600k today for almost halve size and get 55 Years Lease Left. this is show that either my Condo is under value or The Hillford is Over value.
The difference between your 1238sqf condo at the retirement village is that the latter can build 100% MM units with size ranges from 3xx to 6xx sqft. All other development outside Central Area will need to have an average size of 700sqft.
So do not think that just 60 years = $1100psf, then you project should worth more unless you are convince URA to rezone your condo site into a retirement home.
Amazing results...a bit scary though
If the target segment is indeed retirement aged group and well to do to rent or buy such a shoebox unit, they may probably are rich anyway.
Not only getting smaller, it is 60 yrs leasehold...and at the point where interest rate is about to rise.:tsk-tsk:
This only goes to show that there are many investors on the side line who has been marginalized by the recent cooling measures, particularly TDSR
When you have a few hundred thousand dollar sitting in the banks, you will sure want to look for a better way to generate better long term returns. While for those retirees they wont mine buying a retirement home in cash so they need not have to worry about month mortgage etc.
So to them Hillford is just the answer even if its only 60 years lease.
Totally agreed....:D
Plus the rising interest rate to be anticipated in later 2014. How can average retiree afford such rental and how will the retired rich man stay in such a small unit.
2BR for 600+ sqft? amazing...:rolleyes:
I am indeed humbled by the sale performance. My logical head tells me that any logical person will not buy this underdeveloped concept, over priced, under tenure development.
Indeed I'm proven wrong, but is this a viable investment? Only time will tell. :beats-me-man:
Totally agreed....:D
Plus the rising interest rate to be anticipated in later 2014. How can average retiree afford such rental and how will the retired rich man stay in such a small unit.
2BR for 600+ sqft? amazing...:rolleyes:
interest rate will have very minimal impact on such small quantum property and I wont be surprise that many buyers will take zero loan.
I also don't know how! :banghead:
In my mind, a 2bedroom unit has to be least 900 sqft to be liveable (and this is only considering the old design with no useless BIG BIG 10% balcony space taken up + another 5+% in BIG BIG air-con ledge)! Think new 2BRs need to be >1030 sqft (factoring in 15% space in balcony & air-con ledges) to be liveable! :rolleyes:
Totally agreed....:D
Plus the rising interest rate to be anticipated in later 2014. How can average retiree afford such rental and how will the retired rich man stay in such a small unit.
2BR for 600+ sqft? amazing...:rolleyes:
interest rate will have very minimal impact on such small quantum property and I wont be surprise that many buyers will take zero loan.
Do you really think that people with 600k sleep in their bank account will be happy with leaving in that small place for their retirement.
Do you really think that people with 600k sleep in their bank account will be happy with leaving in that small place for their retirement.
The size of the home doesnt determine the happiness of the occupants and if there are people buying, I am sure there must be people who are willing to live in them, or else why would they buy it in the first place.
Just because you dont like it, that doesnt mean everyone else dont.
The size of the home doesnt determine the happiness of the occupants and if there are people buying, I am sure there must be people who are willing to live in them, or else why would they buy it in the first place.
Just because you dont like it, that doesnt mean everyone else dont.
Of course if the question "exist" or "not exist" the answer will be exist. When talk about this kind of think it should be from "general" poit of view. I am not saying that "every one will be not happy stay in small place". I am saying in general "people with more option" will choose not to stay in small place.
u tink chin cai lang got lui nia suka suka can be developer? I tink better for us to pool our $ tgt, set up a finance coy to lend ppl $ :D
lend money default still must chase leh. I rather sell retirement holes, sorry i mean retirement homes 1 time whack big big more shiok. After that still can deliver units that are less than 3% smaller still within guidelines. Heads i win, tails i win. :D
Busy body yesterday me, went to the showroom on the day of balloting. saw some buyers congratulating themselves "heng ah" "heng ha" managed to get a unit or two never mind the units were not their first choice units because the units were being snapped up fast and furious. I wonder how many will regret and upset later when they find out that there a lot of returned units are available a month or 2 from now? 100% sold, let's wait and check to see how many caveats actually lodged or OTP, S&P exercised...only time will tell if half of the buyers are phantom buyers.
I rather sell my freehold condo, take the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away. Renovate it with elder-friendly features, still have extra cash to go holiday and spend in my golden years. It is as good as a so-called "retirement home" less the frills of a 24 hrs concierge (pay monthly fee) and restaurant (what if the food suck? where do u go if there is no food court nearby?). What a retiree needs is not paying for a 24 hrs concierge but 24 hrs access to doctor and clinic hotline at a press of a button for emergency.
24 hrs concierge of course got use. If old man fall on his backside middle of the night.
old man drags himself to the phone in pain (because no emergency button at mm retirement resort): "hullo concierge i fall on my backside. backside very pain. need help."
concierge: "ok sir, no problem i call doctor."
5 mins later
Concierge: "sir most of the clinics closed. i will continue calling. get already will call you."
old man: "ok"
20 mins later
concierge:" sir i finally decide to call hospital. got ambulance. will come in 15 minutes."
old man: "my backside self heal already"
Of course if the question "exist" or "not exist" the answer will be exist. When talk about this kind of think it should be from "general" poit of view. I am not saying that "every one will be not happy stay in small place". I am saying in general "people with more option" will choose not to stay in small place.
Whether they like it or not, its not for us to comments. Its their money, their choice. But if there are 1000 cheque going for 281 units, that can only be positive because demand exceeding supply.
Whether they like it or not, its not for us to comments. Its their money, their choice. But if there are 1000 cheque going for 281 units, that can only be positive because demand exceeding supply.
Of course it's their money. They have all the right to do that. That is way I say that I only want to smile. nothing less nothing more.
What you are saying about selling old development to buy HDB is a theoretically and financially wise move, only IF are you welling to down grade and forgo your condo lifestyle and move into HDB living among people with much lower income and social status.
flaw in your assumption. you are assuming that all HDB dwellers are cash poor and of lower social status, all those living in condo are cash rich and debt free, they bought Hillford with cash? Only deluded people think this way.
However I am sure many people who grew up in condo will still treasure their lifestyle instead of thinking of living in HDB. Hence instead of downgrade they downsize. As many will say, life is short why dont spend the remaining of my retirement life in a place which I feel comfortable.
Even if one doesn't want to downgrade to HDB, and they can effort to downgrade to a smaller condo, there are other better condo options to downgrade to then going for Hillford.
you assuming that all Hillford buyers are cash rich, they bought Hillford without taking a bank loan. The rich will not consider a 60 leasehold if they intend to pass their wealth and asset to their children.
Hillford's proposition is that it is a low quantumn amount to attach the less well off to buy even though psf is not cheap.
i am sure many of those who bought Hillford can easily afford for holidays without having to move into a 200K HDB flat. In fact to them everyday living at retirement village should be like having holiday and thats exactly why people are paying a premium for the amenities and services
Again your assumptions are flaw.
living in a condo is like having holiday everyday then you miss the meaning of what holiday is, it is to experience and sight see another places, food and cultures. Your definition of holiday is a place with swimming pool and a gym.
The size of the home doesnt determine the happiness of the occupants and if there are people buying, I am sure there must be people who are willing to live in them, or else why would they buy it in the first place.
Just because you dont like it, that doesnt mean everyone else dont.
Buying property is an emotional things, often people let their kaisuism get the better of them at property launch only to regret later on but too late.
Whether they like it or not, its not for us to comments. Its their money, their choice. But if there are 1000 cheque going for 281 units, that can only be positive because demand exceeding supply.
1000 cheques collected, 100% sold on day 1.
How did they achieve this or staged this?
Have secret phantom buyers on day 1 launch buying up multiple units creating the impression that demands are high and units are being sold fast.
This causes genuine buyers to panic in case they missed out on owning a piece of this hype up development so they will settle for the remaining not so good units. Once this hysteria is over with most of the less desirable units pushed out, these phantom buyers return the units back to the developer. The developer then re-release these good units for a x% mark up price. This is often the gimmic deployed to push out all the less desirable units first and drive up sell. That's why we see people like Ringo in this forum drumming up and promoting Hillford as a good buy. Fools are born every minutes.
flaw in your assumption. you are assuming that all HDB dwellers are cash poor and of lower social status, all those living in condo are cash rich and debt free, they bought Hillford with cash? Only deluded people think this way.
You were saying that moving from FH Condo to a SMALL resale HDB flat that is $200 to 300K. You might want to do a HDB search based on that criteria and then tell me if my assumption is flaw. And there is no need to make an assumption over what I said because I clear didnt mention ALL
Even if one doesn't want to downgrade to HDB, and they can effort to downgrade to a smaller condo, there are other better condo options to downgrade to then going for Hillford.
Find us a condo that is $500K and then we will discuss if it is better.
you assuming that all Hillford buyers are cash rich, they bought Hillford without taking a bank loan. The rich will not consider a 60 leasehold if they intend to pass their wealth and asset to their children.
Anybody who can afford to buy investment property today are cash rich, especially if they are retiree or senior citizen. With no income and TDSR, there is no way you can take bank loan..
Again your assumptions are flaw.
living in a condo is like having holiday everyday then you miss the meaning of what holiday is, it is to experience and sight see another places, food and cultures. Your definition of holiday is a place with swimming pool and a gym.
Please do not paraphrase what I said.
I said should be like a holiday, I didnt say it is a holiday. And holiday doesnt always mean sight seeing, it could mean relaxing and socializing.
i am sure many of those who bought Hillford can easily afford for holidays without having to move into a 200K HDB flat. In fact to them everyday living at retirement village should be like having holiday and thats exactly why people are paying a premium for the amenities and services
1000 cheques collected, 100% sold on day 1.
How did they achieve this or staged this?
Have secret phantom buyers on day 1 launch buying up multiple units creating the impression that demands are high and units are being sold fast.
This causes genuine buyers to panic in case they missed out on owning a piece of this hype up development so they will settle for the remaining not so good units. Once this hysteria is over with most of the less desirable units pushed out, these phantom buyers return the units back to the developer. The developer then re-release these good units for a x% mark up price. This is often the gimmic deployed to push out all the less desirable units first and drive up sell. That's why we see people like Ringo in this forum drumming up and promoting Hillford as a good buy. Fools are born every minutes.
someone said that same thing about J Gateway, I am not sure it you are related to that someone, or perhaps the same person in disguise.
Perhaps you might want to tell us why the same "staging" are not replicated at every property launch?
I am pretty sure you cant answer this question without sounding silly
Cyberknight
18-01-14, 23:58
Hi ppl, wonder u all read straits time paper today on hillford?
They interviewed 1 young couple who are malaysians and newly PRS, they bought bec quantum is LOWEST in today new condo's px n cant buy resale HDB for 1st 3 yrs.
Another buyer is 50s, retired nurse who bought using cash bec to live in and when passed on, the hse can be passed to children to earn rental.
My qn is ....are they wrong? Who knows. YES. There are better choices but maybe they wan NEW condo. Or personal reasons. Make peace. No right or wrong. We all agreed to disagree. Cheers. Night.
Well, my first private was a 926 sqft, 2BR in 2002. It is very small to me. How i know? i lived in such property before. 380-600sqft....? this is not a retirement lifestyle that i want....at least for me.
and also savvy investors will never want to throw all their money and not getting any loan at this time to buy those shoebox units. :tsk-tsk:
someone said that same thing about J Gateway, I am not sure it you are related to that someone, or perhaps the same person in disguise.
Perhaps you might want to tell us why the same "staging" are not replicated at every property launch?
I am pretty sure you cant answer this question without sounding silly
No I am not the same person who commented on J Gateway but I am not surprised there are people out there who think likewise.
How do you know other launches are have not deployed this tactic either? sometime this gimmick work and sometime it does not resulted in "100%" sold.
Hillford was 100% sold out so by logic therefore we should not see any more unit available a month or 2 from now right? so let's see 1 or 2 months from now and see how many caveats actually lodged.
No I am not the same person who commented on J Gateway but I am not surprised there are people out there who think likewise.
How do you know other launches are have not deployed this tactic either? sometime this gimmick work and sometime it does not resulted in "100%" sold.
Hillford was 100% sold out so by logic therefore we should not see any more unit available a month or 2 from now right? so let's see 1 or 2 months from now and see how many caveats actually lodged.
I am starting to see some childishness in your argument and I noticed you are trying very hard to invent some kind of illogical theory on how property launches are being conducted these days.
a) Like in any property new launches, there will always be some buyer who change their mind after they bought it or some who cannot qualify for loan. The same apply to car industry, where some will drop out due to loan issue.
b) Using J Gateway as an example, out of 738 units sold, only 17 units where return and then resold immediately to buyers on the waiting list.
So are you going to argue that there are 17 fake buyers/agent who created the buzz so that over 700 units were sold? Even then, how are you going to explain how these 17 return units are being sold subsequently is its a over-hyped project? more gimmick?
1000 cheques collected, 100% sold on day 1.
Have secret phantom buyers on day 1 launch buying up multiple units creating the impression that demands are high and units are being sold fast.
This causes genuine buyers to panic in case they missed out on owning a piece of this hype up development so they will settle for the remaining not so good units. Once this hysteria is over with most of the less desirable units pushed out, these phantom buyers return the units back to the developer. The developer then re-release these good units for a x% mark up price.
Is this Legal in Singapore?
If some developer really do this kind of practice The consumer association or what ever it is should file complain to Gov Body
No I am not the same person who commented on J Gateway but I am not surprised there are people out there who think likewise.
How do you know other launches are have not deployed this tactic either? sometime this gimmick work and sometime it does not resulted in "100%" sold.
Hillford was 100% sold out so by logic therefore we should not see any more unit available a month or 2 from now right? so let's see 1 or 2 months from now and see how many caveats actually lodged.
Hi bossa,
No one knows what additional special tactic may have been used to achieve 100% sale.
Just to share something with you... A friend bought a project and 1 month later decided to change to another unit. Because the OTP had already be signed, the developer had to inform URA (I think) to cancel that OTP cos every one is serialised. This approach will create unnecessary delay for developer for selling the returned unit.
And if the units are faked to have been sold, then the numbers of OTP registered will not be 100% and URA will certainly be aware of this esp with the high profile achieved.
There are other ways of increasing the % but doubt this is one of them nor necessary ... esp when there was overwhelming response in the first place.
The questions I have are :
1. How many commercial units were sold? Price?
2. What if these are not taken up esp medical?
How to run the retirement village then?
Cheers.
NorthernStar
19-01-14, 09:38
I knew some projects using sticker game.. they give ppl the fake impression that many units sold.. but unlikely for 100% sold on day1 project.
Just to share something with you... A friend bought a project and 1 month later decided to change to another unit. Because the OTP had already be signed, the developer had to inform URA (I think) to cancel that OTP cos every one is serialised. This approach will create unnecessary delay for developer for selling the returned unit.
Thanks lifeline for sharing.
I thought it is only when the S&P is signed that it's considered a transaction which need to report/lodge with URA but I don't think signing OTP will need to report to URA, OTP is not an official transaction. Do you recall ever lodging with URA when you sign the OTP in your past selling or buying of a property? You may want to check on that. :)
b) Using J Gateway as an example, out of 738 units sold, only 17 units where return and then resold immediately to buyers on the waiting list.
So are you going to argue that there are 17 fake buyers/agent who created the buzz so that over 700 units were sold? Even then, how are you going to explain how these 17 return units are being sold subsequently is its a over-hyped project? more gimmick?
No doubt there will always be some genuine buyers who have a changed of mind after they realised they got carried away with all hyped or whatever reasons.
I must qualified and give credit to some projects that are genuinely a good buy, perhaps J Gateway could be one of them as I didn't follow that project but Hillford is definitely NOT one of them as what you have made it out to be in this forum. I thought the intend of this forum is for buyers to share objective view so that potential genuine buyers can make an informed decision. Not for people to promote and provide bias view.
No doubt there will always be some genuine buyers who have a changed of mind after they realised they got carried away with all hyped or whatever reasons.
I must qualified and give credit to some projects that are genuinely a good buy, perhaps J Gateway could be one of them as I didn't follow that project but Hillford is definitely NOT one of them as what you have made it out to be in this forum. I thought the intend of this forum is for buyers to share objective view so that potential genuine buyers can make an informed decision. Not for people to promote and provide bias view.
You might want to tell us why you think this is not a good buy for those who cant afford anything of higher quantum?
So assuming A has got $500k park in the bank, while B use the money an bought a $500k apartment a Hillford.
In 30 years time, who do you think will be better off?
Hi ppl, wonder u all read straits time paper today on hillford?
They interviewed 1 young couple who are malaysians and newly PRS, they bought bec quantum is LOWEST in today new condo's px n cant buy resale HDB for 1st 3 yrs.
Another buyer is 50s, retired nurse who bought using cash bec to live in and when passed on, the hse can be passed to children to earn rental.
My qn is ....are they wrong? Who knows. YES. There are better choices but maybe they wan NEW condo. Or personal reasons. Make peace. No right or wrong. We all agreed to disagree. Cheers. Night.
I received adv info on OCR outskirts Condo LH 99 fernv...something ...470sqft around $4XXk....but now 60yrs hilford at this price I think are they gg to sell this OCR condo at the adv price?...:D
anyway, buying this retirement resort machiam want to buy 99 yrs LH at this location but cannot buy due to high quantum so buy low quantum at the expense of shorter lease...different group of buyers which don't mind 60 yrs LH......
eg ,cannot buy this brand car buy another brand but still a car:D
so I think the couple who give the reason either not well informed or Their real reason behind is infact they want THIS location and don't mind 60 yrs staying there..
eg ,cannot buy this brand car buy another brand but still a car:D
most like cannot afford buy new car then buy used car with shorter COE
most like cannot afford buy new car then buy used car with shorter COE
this is new ccar but with COE 6.5 yrs COE :D I use car as eg as car is depreciating asset which 55 LH has a risk of gg that direction with no capital appreciation but I maybe wrong who knows unless 30yrs LH comes out...LOL
Thanks lifeline for sharing.
I thought it is only when the S&P is signed that it's considered a transaction which need to report/lodge with URA but I don't think signing OTP will need to report to URA, OTP is not an official transaction. Do you recall ever lodging with URA when you sign the OTP in your past selling or buying of a property? You may want to check on that. :)
That time, friend signed and exercised otp already and yet developer (via head marketing) was willing to change subject to ura approval. I had real time updates from him at each step. After otp is signed, and cancelled, he was told that it would be very involving and cause delay to resell that unit.
Anyway otp is also important legally for government in terms of date for the cooling measures. And it's also legally binding once the seller signs it... No retracting unless buyer dun exercise.
Just fyi.
We can have our hypotheses re any scenarios which may or may not be true. It's a good exercise. Regardless there is however no need to spend too much unproductive time on it... cos the market will show it's own true direction eventually. One only needs to decide if one wants to participate or not.
Last time I like to analyse the possible reasons why certain transactions happen the way they do. My guru says there are so many possible reasons... no point guessing... just decide your stance, how you think the market will move, and whether you want to go in and are able to hold on for the projected period with of course reviews along the way.
Cheers.
You might want to tell us why you think this is not a good buy for those who cant afford anything of higher quantum?
So assuming A has got $500k park in the bank, while B use the money an bought a $500k apartment a Hillford.
In 30 years time, who do you think will be better off?
In 30 years' time, I wonder how much can the unit fetch, considering that it has less than 30 years of lease remaining. Potential new buyer may have problem taking bank loan.
In 30 years' time, I wonder how much can the unit fetch, considering that it has less than 30 years of lease remaining. Potential new buyer may have problem taking bank loan.
But in 30yrs time $400k will be peanuts. :)
those who bought for own stay just stay there and retire lor...not bad ma peaceful place and stay with seniors is good too in the way they can be caring and concerned with community, thus making the place more friendly and more warm to stay. imagine every morning, can see people play taichi...greeting each other with warm smile...very nice scenario...
As others mentioned, 400K is peanut already in 30 yrs times ...based on that, 800K is also only 2 peanuts only....:D
If i am going to retire at older age, i may not go for such concept. There will be so many elderly people also staying there. they come and go. a bit pressuring though got elder friendly facilities. i might change mind at that age later. :o
phantom_opera
20-01-14, 05:59
hmm ... Singaporeans BOLEH ... China 70LH up up up 20% yoy, Singapore 60LH sure pasar malam liao lah :scared-5:
would Khaw do the unimaginable by having first 60LH HDB?
hmm ... Singaporeans BOLEH ... China 70LH up up up 20% yoy, Singapore 60LH sure pasar malam liao lah :scared-5:
would Khaw do the unimaginable by having first 60LH HDB?
60LH are only suited for senior citizen and cowboy not our typical Singaporeans newly wed. Imaging getting your BTO at 25yrs old, by the time you hit 85, you will be left with no home.
This is a to test the response of the market. I am not surprise if HDB adopts 70LH in future to so call make it affordable. :)
hmm ... Singaporeans BOLEH ... China 70LH up up up 20% yoy, Singapore 60LH sure pasar malam liao lah :scared-5:
would Khaw do the unimaginable by having first 60LH HDB?
those who bought for own stay just stay there and retire lor...not bad ma peaceful place and stay with seniors is good too in the way they can be caring and concerned with community, thus making the place more friendly and more warm to stay. imagine every morning, can see people play taichi...greeting each other with warm smile...very nice scenario...
As others mentioned, 400K is peanut already in 30 yrs times ...based on that, 800K is also only 2 peanuts only....:D
This developer tends to build less carparks than units. 281 units only 100 odd carparks. Maybe only suitable for those who do not drive.
If i am going to retire at older age, i may not go for such concept. There will be so many elderly people also staying there. they come and go. a bit pressuring though got elder friendly facilities. i might change mind at that age later. :o
yalor, yalor ... even if I LKK I oso dun wan to live wif all the old ppl :p
Glad u get my point. Actually, it was my elder mother in law who made the earlier comment first. Reading the news, some of the elder people bought the units are meant for investing for their children. For actual living in area like 394sqft, it is going to be hmm....a bit depressing
yalor, yalor ... even if I LKK I oso dun wan to live wif all the old ppl :p
Perhaps you prefer to LKK by yourself loh
Or do you think that when you are in your 60s you still can hang out at clark quay gyrating your hip through the night?
Or maybe just hang out in the virtual world like condosingapore.com and pretend to be young?
I rather sell my freehold condo, take the money and buy a small $200K to $300K HDB unit where is there is a clinic, provision stores, void deck food court, community center and MRT station a stone's throw away.
Where in Sg can you find such a HDB that cost only $200K to $300K? Please do tell me.
Perhaps you prefer to LKK by yourself loh
Or do you think that when you are in your 60s you still can hang out at clark quay gyrating your hip through the night?
Or maybe just hang out in the virtual world like condosingapore.com and pretend to be young?
u seem to hv issue wif me preferring to live wif younger ppl.
I can get along well wif younger ppl as opposed to older ones.
u got issues? :47:
u seem to hv issue wif me preferring to live wif younger ppl.
I can get along well wif younger ppl as opposed to older ones.
u got issues? :47:
Its not about you getting along with younger people, but whether younger people enjoy hanging out with you when you are old. :)
If you ask any ah peh on the street if they are willing to go to a movie with a 25 year old women, chances are 90% will say yes.
If you ask any 30 years man if they want to go to the movie with a 60 years old women, chances are you will get kick in the groin. :D
Its not about you getting along with younger people, but whether younger people enjoy hanging out with you when you are old. :)
If you ask any ah peh on the street if they are willing to go to a movie with a 25 year old women, chances are 90% will say yes.
If you ask any 30 years man if they want to go to the movie with a 60 years old women, chances are you will get kick in the groin. :D
sorry to disappoint u, I happened to be the type which attract younger ppl, tested n proven .... hahaha :D
sorry to disappoint u, I happened to be the type which attract younger ppl, tested n proven .... hahaha :D
any ah lao walk into KTV also become very handsome and strong..
http://www.businesstimes.com.sg/archive/saturday/premium/top-stories/hillford-retirement-resort-all-281-units-snapped-20140118
Published January 18, 2014
Hillford retirement resort - all 281 units - snapped up
Bt Timah project sold out in 5 hours, at an average of $1,100 psf
By Mindy Tan
[email protected]
ALL 281 units at what is billed as Singapore's first retirement resort were snapped up within five hours yesterday. About 1,000 prospective buyers, who had earlier indicated their interest in the 60-year leasehold The Hillford, thronged the launch hoping to secure a unit.
Prospective buyers that BT spoke to cited affordability as the main driver for their decision to purchase a unit. Fifty-five year old Desmond Tan, who was the first in line to get a unit, opted for a pool-facing two-room unit (506 square feet). He paid $601,000 for his unit.
"The lease is only for 60 years, but the main consideration is affordability," said Mr Tan, who is self-employed. While his four children live with him, he hopes to live at The Hillford with his wife when his unit is ready. The project is expected to get its Temporary Occupation Permit in November 2017.
Units at The Hillford were sold at an average of $1,100 per square foot. The majority of the units - 186 - are in one-bedroom configurations (398-431 sq ft) and had a starting price of $388,000. The 52 two-bedroom units (506-560 sq ft) had starting prices of $498,000 and the remaining 40 two-bedroom dual key units (657 sq ft) had starting prices of $648,000.
The theme of affordability was echoed by another buyer who picked up a one-bedroom unit, stressing it was the price quantum, and not so much the facilities provided by The Hillford, that drew him to the project. A mix of middle-aged buyers as well as younger buyers in their 20s were seen at the showflat yesterday morning.
According to the developer, World Class Land, a substantial proportion of buyers were over 50 years of age. "We are very excited that The Hillford has sold out within the first day of sales," said Koh Wee Seng, chief executive officer of World Class Land. "The response to Singapore's first retirement resort has been spectacular, with many buyers responding very positively to The Hillford's wide range of elder-friendly features, services and facilities specially introduced to serve their needs."
The project promises elder-friendly features such as non-slip floor finishes, wider corridors and doorways for wheelchairs, and grab bars in common areas and in the units as an option. It also boasts a 24-hour concierge service and a dedicated, full-time resort manager to take care of residents' well-being. The Hillford is located on Jalan Jurong Kechil, in Bukit Timah.
http://www.straitstimes.com/archive/saturday/premium/top-the-news/story/all-281-units-retirement-resort-sold-out-within-hours-20140118
All 281 units of retirement resort sold out within hours
Published on Jan 18, 2014
By Cheryl Ong
ALL 281 units at the first housing project here aimed at retirees sold out just hours after its launch yesterday as 1,000 hopeful buyers thronged the showflat.
Many were older home seekers, but plenty of younger buyers were also drawn by the relatively affordable prices at The Hillford, a mixed development marketed as a "retirement resort" by its developer, World Class Land.
By 4.30pm, all units at the project had been sold, at an average of $1,100 per sq ft (psf). Units range from 398 sq ft to 675 sq ft.
The developer could not give figures on the proportion of older and younger buyers by press time.
But when The Straits Times visited the showroom in Jalan Jurong Kechil in the morning, there was a a mix of buyers in their 20s and 30s, as well as those over 50.
When the Urban Redevelopment Authority (URA) tendered out the site for what is said to be Singapore's first "private retirement housing product", it had certain conditions.
While there are no age restrictions on buyers, it recommended providing space for elder-friendly services such as medical clinics, as well as shorter leases for the project.
The Hillford's 60-year lease - the first for a residential development - has allowed the developer to price units more cheaply, attracting younger buyers with shallower pockets.
Marketing executive Stephanie Keh, 29, and her husband, both Malaysian permanent residents (PRs), came looking for their first home. But they failed to secure a two-bedder of 506 sq ft, priced at about $560,000, in the ballot. "The key point is the price, it's relatively cheaper than other condos," Ms Keh said.
She added that PRs now have to wait three years before buying a resale Housing Board flat, and that The Hillford was the only private housing project they could afford in the current market. Units at the Creek @ Bukit nearby, for instance, were sold for $1,637 psf on average in November.
Ms Alice Tan, research head of property firm Knight Frank, noted: "PRs who want to satisfy their immediate aspirations of owning a home here could be attracted to this project."
Though the prices of units were cheaper than private properties with a longer lease, Madam Rita Gan, 61, a nurse, said the project was expensive in psf terms. "But I intend to live in it. I'm coming to an age where I just want to retire, so it doesn't matter to me."
But Madam Kong Chuy Ming, 74, had more than retirement on her mind. The retiree, who turned up with her husband, said they bought a two-bedder for about $525,000 so their children can lease it out after their passing.
"It's for us to live in, but it can also be an investment for my children," she said in Mandarin.
[email protected]
Confirmed to be the best time for a coffee and do nothing now....
DuaNehNehChioBu
19-02-14, 12:01
sorry to disappoint u, I happened to be the type which attract younger ppl, tested n proven .... hahaha :D
Oh i see...You attract chao ah gua...LOL..
Is your job a GIGOLO ? :rolleyes:
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