Spottiswoode 18 by RL Developments, Freehold, District 2

[amk]

60% LTV kills most HDB upgraders. I believe most of them have not cleared their loans and are assuming a high HDB resale price to finance the condo upgrade.

[teddybear]

How to avoid below mentioned?
Time to legislate smallest unit size >500sqft? Time to make start date of 4 years SSD of new launch start from TOP date and not purchase date? (Make sense this way because it doesn't make sense to lower LTV less than 60%, and it doesn't make sense that 60% LTV doesn't affect new launch since these buyers pay:
10% upon signing S&P
10% 6 months later
10% 6 months later
10% 6 months later
=> They only need to leverage using 10% !!! The other 30% cash does not need to come out until 1.5 years later! Furthermore, no loan & interest payable.
Meanwhile, resale property buyers straight away have to come out with 40% cash on completion of S&P and still pay interest on 60% loan.

What is the effect of latest property cooling measure?
Answer: Make MMs real hot!

Spottiswoode 18
Loft @ Steven
??????

All MMs can set like hot cake because even with 60% LTV still very low amount of cash required! The cooling measures got serious problem man! ECs in ulu places 1st day sell like hot cake, after cooling measure released become so cool that few want to buy!

[devilplate]

How to avoid below mentioned?
Time to legislate smallest unit size >500sqft? Time to make start date of 4 years SSD of new launch start from TOP date and not purchase date? (Make sense this way because it doesn't make sense to lower LTV less than 60%, and it doesn't make sense that 60% LTV doesn't affect new launch since these buyers pay:
10% upon signing S&P
10% 6 months later
10% 6 months later
10% 6 months later
=> They only need to leverage using 10% !!! The other 30% cash does not need to come out until 1.5 years later! Furthermore, no loan & interest payable.
Meanwhile, resale property buyers straight away have to come out with 40% cash on completion of S&P and still pay interest on 60% loan.

correction....its actually 20% upon signing S&P

[Regulators]

With 160 units silks at launch, how not to have another cooling measure

[richardsng_era]

Take note, price will be revised after Friday.

[devilplate]

With 160 units silks at launch, how not to have another cooling measure

ironically, most other showflats swatting flies....den how? another measures...all other non-MM developers eat grass? lol

[hyenergix]

ironically, most other showflats swatting flies....den how? another measures...all other non-MM developers eat grass? lol

Non-MM developers will have to lower their prices...just be patient for 1-2 quarters. These units are more value for $ compared to MM.

[noblebaby]

still got unit left?

Take note, price will be revised after Friday.

[devilplate]

Non-MM developers will have to lower their prices...just be patient for 1-2 quarters. These units are more value for $ compared to MM.

i begin to feel luxury segment is 'cheap'....

[Regulators]

How can you even consider spottis 18 as luxury? Rich people don't live in 3xxsf units?

i begin to feel luxury segment is 'cheap'....

[amk]

actually why is the gov babysitting these MM buyers ? let them buy all they want!

[scsc]

shut the loop holes on AC ledge
extra tax on dev for poor land usage... haha

[jitkiat]

actually why is the gov babysitting these MM buyers ? let them buy all they want!

When interest rate goes up or tides turn .. can they pay the banks .... gov concerned about banks, not MM owners.

[devilplate]

How can you even consider spottis 18 as luxury? Rich people don't live in 3xxsf units?

U got me wrong la.... I bio paterson area....cheap in comparison mah.. Highly reccomended by teddy

[devilplate]

When interest rate goes up or tides turn .. can they pay the banks .... gov concerned about banks, not MM owners.

40 pct down safety buffer set liao mah.... 750k 1bedder at spott18.... If firessle at 40pct less....450k only.... I will grab lor even though 3xxsqft is disgusting.... Haha

[kane]

60% LTV kills most HDB upgraders. I believe most of them have not cleared their loans and are assuming a high HDB resale price to finance the condo upgrade.

those who bought HDB in the last 5-10 years will have some difficulty uprading because their HDB value hasn't gone up by much to give them the platform for the 40% downpayment.

[teddybear]

And somebody said can buy a HDB flat at $200k previously that is now worth $600k? Really got HDB flat that can made 200% return? That guy is simply lying?

those who bought HDB in the last 5-10 years will have some difficulty uprading because their HDB value hasn't gone up by much to give them the platform for the 40% downpayment.

[bargain hunter]

this should do it. this should clear at least 90% by friday hahahahahahaha.

Take note, price will be revised after Friday.

[bargain hunter]

have. i have a friend who bot a 5 room flat in bukit batok in 2004 at 230k, prob worth 575k now. around 150% return lah. not 200% but still % wise, doesn't lose to some units at the sail.

And somebody said can buy a HDB flat at $200k previously that is now worth $600k? Really got HDB flat that can made 200% return? That guy is simply lying?

[bargain hunter]

i think you are referring to those who bot in 2000 & 2001 as well as 2006 to 2011?

those who bought HDB in the last 5-10 years will have some difficulty uprading because their HDB value hasn't gone up by much to give them the platform for the 40% downpayment.

[devilplate]

And somebody said can buy a HDB flat at $200k previously that is now worth $600k? Really got HDB flat that can made 200% return? That guy is simply lying?

Quite close if bot from BTO.... 1st phase pinnacle at duxton 4rm flat ard 220k nia.... I believe 600k++ when MOP over

[kane]

And somebody said can buy a HDB flat at $200k previously that is now worth $600k? Really got HDB flat that can made 200% return? That guy is simply lying?

the max i heard is from 180 to about just over 500 now. as close as you can get to 200%, largely a function of it's lower base. pinnacle doesn't really count. cos MOP not over. by the time MOP is over, they could be further from an upgrade.

[amk]

have. i have a friend who bot a 5 room flat in bukit batok in 2004 at 230k, prob worth 575k now. around 150% return lah. not 200% but still % wise, doesn't lose to some units at the sail.

Even in ur friend's case, in order to avoid the 60% LTV, he has to pay off the 230k 1st right ? Then the downpayment for a cheap 1.2M 3bd (at current launch price is cheap already ), plus stamp duty etc he needs total abt 500k plus. He needs to save abt 80k a year for 6 to 7 yrs. For a household income of say 7k per month, how easy is that ? Before the LTV change, he save 200k cash , and since he can sell his flat at 575k later, he can easily upgrade. Now he just sits on paper profit cannot realize.

That's why in my opinion, genuine upgraders are affected by the LTV change.

[devilplate]

Even in ur friend's case, in order to avoid the 60% LTV, he has to pay off the 230k 1st right ? Then the downpayment for a cheap 1.2M 3bd (at current launch price is cheap already ), plus stamp duty etc he needs total abt 500k plus. He needs to save abt 80k a year for 6 to 7 yrs. For a household income of say 7k per month, how easy is that ? Before the LTV change, he save 200k cash , and since he can sell his flat at 575k later, he can easily upgrade. Now he just sits on paper profit cannot realize.

That's why in my opinion, genuine upgraders are affected by the LTV change.

Now goto sell hdb den buy resale condo....still 80 pct.... Got one stage 90pct...
In a way, more hdb resale n less hdb kept for rental

[bargain hunter]

i agree. but for his case, hdb loan would be 184k and he prob repaid some over the last 5 years MOP? if he pays off loan he will still need to fork out 240k down. so total maybe 400k down including cpf right? he is living way below (his salary alone, excluding spouse is more than 10k now) his means so no issue for him of course. but for others, i think there is an issue. confirm cannot get bridging loan?

Even in ur friend's case, in order to avoid the 60% LTV, he has to pay off the 230k 1st right ? Then the downpayment for a cheap 1.2M 3bd (at current launch price is cheap already ), plus stamp duty etc he needs total abt 500k plus. He needs to save abt 80k a year for 6 to 7 yrs. For a household income of say 7k per month, how easy is that ? Before the LTV change, he save 200k cash , and since he can sell his flat at 575k later, he can easily upgrade. Now he just sits on paper profit cannot realize.

That's why in my opinion, genuine upgraders are affected by the LTV change.

[amk]

Ur friend is not the average upgrader is he the one buying a sentosa house with the hdb address?

Bridging loan, very very seldom pl do one lah. The more common one I think is sell 1st then rent a while then buy.

[teddybear]

You remember correctly or not? My friend bought sengkang 5 rm new flat still pay $240k around 2004 & bukit batok cheaper than sengkang? Doesn't seem likely.

have. i have a friend who bot a 5 room flat in bukit batok in 2004 at 230k, prob worth 575k now. around 150% return lah. not 200% but still % wise, doesn't lose to some units at the sail.

[teddybear]

You are just guessing the price 4 yrs down the road. We are talking what had already happened. Its heaven & earth of a difference. Furthermore, that guy said is a 5 rm flat, not 4 rm!

Quite close if bot from BTO.... 1st phase pinnacle at duxton 4rm flat ard 220k nia.... I believe 600k++ when MOP over

[kane]

The buangkok area in senkang was really that cheap in 2003-4.

[jitkiat]

You remember correctly or not? My friend bought sengkang 5 rm new flat still pay $240k around 2004 & bukit batok cheaper than sengkang? Doesn't seem likely.

At that time 5r Yew Tee far from MRT already $240k, Bukit Batok if close to MRT high floor probably 300k.

Anyway, those who bought Pinnacle @ Duxton first phase are the most lucky family ... no doubt about that.