Stack 8 is quite good. The balcony is facing the landed. Which floor to be above the height of landed property?
Stack 8 is quite good. The balcony is facing the landed. Which floor to be above the height of landed property?
But honestly, even at the price now, property is NOT expensive/ not unattainable in SG because I will consider me and my hubby as "the man in the street". Our peers earn way higher than us and we are considered the lower combine income bracket group compared to our peers and siblings. If we can easily afford a 1 mil property, many can. They just choose to wait for price to drop. I believed that many forumers and experts here are very rich people hence they din know that the poor now can actually afford a 1 mil property already..Originally Posted by med80009
better to examine carefully..pty not so liquid...espec if desire to fetch higher price for profit within 1-3 years down the road..
afford has diff meaning to diff pplOriginally Posted by ocoloco79
to me affordability means my resources are able to pay off at least half of my outstanding mortgage at any time
I did a quick exercise, putting some numbers into the property guru salary.com.sg calculator with some interesting results after reading your post.Originally Posted by ocoloco79
1. A 1 million property with 80% loan (800k) for 30 years with an interest rate of 1.29% would add up to a monthly instalment of SGD 2682.
2. If 30% of monthly salary is used for mortgage servicing, a household income of SGD 107290 per year would be required
3. Putting this value into the annual income comparison calculator would show I quote : "Your annual income of $107,280 is higher than 80.3% of all resident taxpayers."
(http://www.salary.sg/2010/compare-yo...l-income-2010/)
Now, I don't know whether the distribution of annual income in S'pore is parametric or non-parametric (bell shape curve or not), and whether this comparison was with the mean or median income but i would respectfully disagree that a 1 million property is within reach of the majority of residents.
Last edited by med80009; 21-12-10 at 09:50.
HI, But you are comparing annual income of one person, not household... It is different.
Originally Posted by med80009
Fair enough, agreed it is different. I guess not choice that every household should have dual income. Work till you drop..Originally Posted by ocoloco79
How many percent sold?
it is stated household income lehOriginally Posted by ocoloco79
No, stated annual income only. Household income category is for monthly, not annual, different wor..Originally Posted by august
sis, this is not correct. 1) your hubby and u are civil servants. your jobs are comparatively secured, so u know in the worst scenario u just continue to work and pay down the loan. 2) Your peer comparison group are your GRADUATE friends. there are many others who are not and do not earn as much as u. so if u compare by age, please be aware that u r one of the more fortunate ones, most definitely not "man on the street". 3) some of the experts/rich here have ever bought 1m properties and seen them depreciate to 600k before seeing the value regain 1m. it is not that they dun know that the "poor" now can afford but rather they hope not to see your so-called "poor" go through what they have been through from 1997 to 2005.
Originally Posted by ocoloco79
not bad price at $1250+ psf considering that MM units have to pay a higher psf...Originally Posted by bullman
Not that fantastic either. With a 1.8 k rental, yield is still only slightly below 4%. You can easily get better than that in CBD. This project still have to wait 3 years plus, how much rental would you have collected in the meantime if you have bought into a completed project ?Originally Posted by spikey69
Also, not much capital gain to speak of for MM unit. In my dream, when that area hit $1500 psf, the gain is but $250 psf and quantum around $85k nett.
In a nut shell, its not really a smart move to buy into new MM launches at record prices now. Just bought it to balance my portfolio.
Last edited by bullman; 21-12-10 at 21:42.
rental not so low...Originally Posted by bullman
2.3k is achievable now...but 3yrs later
that's true...but MMs right on top on MRT stations near town will always have value. But I must thank all the people who bought into nin residences at 1000+psf for raising the value of the yet to TOP condo that I got recently around the area for 920 psf...Originally Posted by bullman
haha...there's "wood" in the name!Originally Posted by sleek
so will the value rise to more than 1000psf if the man in white comes in?Originally Posted by spikey69
hungry eat sleepy sleep
man in white + white men (american school).Originally Posted by acidic.straw
oh ya..forgot abt the white men part...who will then make the woodleigh station open sesame? ..like that win liao ...maybe at least 1500 psf ?Originally Posted by spikey69
hungry eat sleepy sleep
I find many people has very risky idea. Sure, many can afford a million dollar condo given a 30 year loan. Very critical is to consider your ability to tahan 1) interest increase 2) mortgage payment buffer when out of jobOriginally Posted by ocoloco79
Many has problem with both in the past and forced to sell during worst time. $aving totally wiped out.
regards
When the party is over, we will be able to see who has been on drugs...
Originally Posted by repanse71
Official website is up:
http://www.cnqc.com.sg/nin_residence/
1st glance & I spot a funny liner "3 mins drive to future SAIS"Originally Posted by azeoprop
omg... need to budget time for car warm-up & waiting time at traffic junction...
The Nin Residences showflat appears to be ready. I saw a lot of cars parked outside this evening. Is it opened to the public already?
hungry eat sleepy sleep
spotted a small ad in the papers saying showflat only open on weekends, looks like the developer is not aiming for a sell-out but to maximise selling prices.
Was at Nin just now.The low floor 3 br is selling at approximately 1.5mil!
I wasn't impressed by the kitchen at all. It was too narrow and the dry kitchen is just not practical. Only saving grace is that the fittings are better than 8@w.
Although the unit size is a good 15sqm bigger, I think most of it went to the 2 balconies in the master bedroom and living room, and the 2 zircon ledges.
But I must say the master bedroom's walk in wardrobe and shower fittings are nice. Only thing is the glass wall of the bathroom is still an issue for me. Imagine having to frost the glass or install blinds just so that you can feel at ease when sitting on the throne.