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Yes understand that the interest rates will be higher for commercial bank loans and getting loan itself is also more difficult.
Most of ppl here use UOB's package?
Maybank's package seems not good for this UOC, as its interest starts date is 3 month after letter of offer, is it true? OCBC is similar except the number of months is 6.
What's your package, mind to show me via PM?
Quote:
Originally Posted by chrisop
Mine is on B1 too. :cheers4:Quote:
Originally Posted by Avant
I'm using ocbc. Not sure of other bank loan packages cos didn't do any comparison. :o Can probably share some details with you via pm.
Please let me have more details. To me, its Interest Commencement Date and Cancellation are not favorable over others.
Besides rates (I prefer fixed/float compared to sibor-pegged), below are the items most important (to me at least):
LTV (matters as I plan to buy condo 3 years or later)
Interest Commencement Date (determine the effective rate)
One Free Conversion (better than none)
Cancellation Fee (need to pay if not disbursed fully, even after lock in)
Legal Fee Subsidy (Clawback period)
Lock Years (think it is the min period we should stay in)
Quote:
Originally Posted by chrisop
Why are you surprised that I took ocbc loan? I like ocbc best among the local banks. :)Quote:
Originally Posted by Avant
Have pm you the details although there is not much value to compare further with the ocbc package since it's not that good. You should compare those offered by other banks.
Surprised because
(1) cancelation rate is high (2% vs 1.5% of other banks)- no problem if you plan to take 3 yr lock in
(2) interest start date is 6 months after LO.
I fogot the rate that my ocbc banker showed to me on his tablet, but it seems not to be very good either.
Finally found that there are not many choices, plan to take UOB instead of DBS (its 3 yrs fixed rate is quite low)
Quote:
Originally Posted by chrisop
Oh I see... Hehe just hope to faster repay the loan so it wouldn't matter that much.Quote:
Originally Posted by Avant
Why did you choose UOB instead of DBS even though the interest rates at DBS are lower?
next downpayment of the first condo that I plan (to stay in private is not easy nowadays for new comers)
Quote:
Originally Posted by chrisop
The price difference between the 1+S units quite substantial, maybe more than 10%, dependent on facing.Quote:
Originally Posted by serene33_cps
How's the sales progress? Any other PH available? Anyone knows? :rolleyes:
Good for you that you managed to get a good deal. :)Quote:
Originally Posted by Avant
Just visited. Still have selected premium stack PH and 1-bedder available. Some shops also, price seems reasonable.
Good quiet, landed living environment with parks and lots of amenities. Lots of potential. Confirmed that residential units have a carpark.
The only thing is reconcile will be how to smoothen traffic flow if businesses are doing excellently well here. Will the new Masterplan have changes to resolve this?
Very curious about the nature of businesses here. Any clues about the class of business, Avant and Chrisop?
I was there n e agent asked me to buy a tiny shop to sell confectionery n coffee. Hmm...:rolleyes:Quote:
Originally Posted by Kelonguni
Think there's a supermarket there. Haha as for the rest, it's a surprise! I also don't know what kind of business. Just have to wait for them to open then know. :pQuote:
Originally Posted by Kelonguni
If such a common and no brainer business also nobody doing yet, shudder to think all those who bought intend to open up what kind of trade...Quote:
Originally Posted by hyenergix
Hehe nothing to shudder about... The most no one patronised lor. If you are worried "that" kind of business will be set up, then the residents will have even more cause for worry. Do you think that will go unreported?Quote:
Originally Posted by carbuncle
well, one thing for sure, bro yours sure is proper decent business.... :)Quote:
Originally Posted by chrisop
Actually hard to say what might come, but there is a lot of similarities in concept to some of the mixed developments in the West. Some of them are doing very well (at least from what I see). Main thing is must maintain good traffic flow. It might benefit from the synergy of the surrounding wet markets, hawker centres and HDB as well. Very unusual spot to be at.Quote:
Originally Posted by carbuncle
Must punch calculators some more. But if got lots of spare moolah definitely good to buy a residential unit to retire and run a mini cafe downstairs. Everyday ask good friends to come la kopi.
The Sheng Siong deal for Promenade already gone. Those units already opened up for individual sales leQuote:
Originally Posted by chrisop
oh no!! good luck to the entire development then. most of these shops are 1xxsqft only big enough for mama shops/ handphone booth. Now that sheng shiong has pulled out there isnt much the other commercial units can bring.Quote:
Originally Posted by ZeeWee
that is bad news... Need anchor tenant to run the show somehow.Quote:
Originally Posted by ZeeWee
yes, with 270 tiny mama shops it will become a forgotten land.Quote:
Originally Posted by rattydrama
Will become those whichever mrt underground Xchange or mall extension style or far east plaza concept at best, or 女人街 @ pearl ctr at worst...Quote:
Originally Posted by price
I dunno abt it, somehow i have a not there feel abt the commercial potential of this place. It is a sleepy laidback town and thats the beauty of the area. To mall-ize it would be so wrong. If its a few laidback enclave of shops like vegan burg at eunos, frankel different taste stretch, even big ben at siglap, that may work. I feel strongly that e moment the shops outnumber the resi by so much, the foundation already wrong big time. I dont have confidence in the commercial aspect of this project, sorry to those vested, but thats how strongly i feel it wnt work out.Quote:
Originally Posted by Kelonguni
I do agree with you 100% on this. This entire project was en-bloc for oxley to cash in. Since singaporeans are crazy over "mixed projects" this 1 is mixed + Freehold! sure sellout. These investors are probably non businessmen themselves hence they dont understand the importance of location. yes 7mins to MRT but the human traffic is quite dead here. Turning a place filled with workshops and hardware shops to a 270 min shopping mall is a great challenge.Quote:
Originally Posted by carbuncle
Moreover, not sure if you've been to the showflat, the units' walkway/corridor (residential and commercial) inside the building (those facing each other) are not sheltered. Shops facing these directions be ready to expect floods during a thunderstorm (don't forget this project is at the foot of a mini "hill"). :2cents:
Congestion... Unkempt surroundings... Crowding... Noise.... Smells.... Will be order of the day .... IF the comm really takes off... Which i doubt so.Quote:
Originally Posted by price
So more like ghost town on grnd flr and basement... Which is gd in a way for the resi can come down for free aircon.... And patronise the ice cream and bubble tea parlours esp on hot days. Food, convenience, snack shops kiosk style should do reasonably well here. But they cannot b kfc or mac kind as the traffic will not sustain the rent.
Just take a visit to Thomson V Two.... Recently top i think. Tell me if the shops are doing brisk biz...? I mean i really dunno.. Too inconvenient location to check out.
theres no aircon bro. open conceptQuote:
Originally Posted by carbuncle
Hurrhhhh...... Doomed to fail liao lor like the early days Bugis Junction open airQuote:
Originally Posted by price
they say similar to greenwich?Quote:
Originally Posted by carbuncle
Wow. Thanks for the opinions on this for consideration.
The B2 shops may be good for vehicle maintenance / grooming etc, where the carparks are. B1 and level 1 are really anybody's guesses. IMO, they should have considered what was lacking in the vicinity and created a niche based on that. Maybe like educational and enrichment hub (taking advantage of the landed, attas area) for a UE-square kind of building - that kind of thing seems lacking in Northeast area. Or vehicle accessories building like Sunshine Plaza, sports apparel and shoes like Queensway shopping centre.
Leaving it open-ended leaves too many questions - might turn out like current Bukit Timah / Beauty World shopping centre at worst.
Yah need some kind of anchor tenant like NTUC, Sheng Siong, Shop n Save at least.
The shop owners should sit down and discuss what they want this to be. Lots of potential, but there are also possibilities to be untapped potential at worst.:scared-2:
Actually also depends on facing. Some facing might do well, hence the difference in prices between similar sized units is quite marked.
Maybe the developer has already recouped and earned on the residential?
residence is above workshop, you can imagine the tenant profile.
I imagine having rows of hair dressing saloons to service the residences there. This kind of business could substain or pizza takeaway.
If SS also fears to venture, it prob is too dangerous.