What price range ?

[wt_know]

hi all,

i'm a newbie in buying property. i welcome government property cooling measures and looking forward to find my dream condo.

each time when i check propertyguru.com or look at the ads, the condo prices are rather "very high" that ranges from $950K to $1M for a decent 2+1 or 3 bedrooms condo. i'm refering to TOP or new developments and not old condo.

during the recent cna talking points, the so called analyst said the psf close to $1K for outskirt condo or mass-market-condo is too high.

so, what is the acceptable price range? my intention is to buy and stay for minumum 5 years and then sell to make a profit assuming capital appreciation or probably not for sale for a long time.

thanks !

[taggy]

hi all,

i'm a newbie in buying property. i welcome government property cooling measures and looking forward to find my dream condo.

each time when i check propertyguru.com or look at the ads, the condo prices are rather "very high" that ranges from $950K to $1M for a decent 2+1 or 3 bedrooms condo. i'm refering to TOP or new developments and not old condo.

during the recent cna talking points, the so called analyst said the psf close to $1K for outskirt condo or mass-market-condo is too high.

so, what is the acceptable price range? my intention is to buy and stay for minumum 5 years and then sell to make a profit assuming capital appreciation or probably not for sale for a long time.

thanks !

i think the owners here will say 1.5kpsf is acceptable

[wt_know]

that's ok. i understand from a owner point of view rather than a buyer point of view.

i'm looking at new condo and want to buy from developer directly

i think the owners here will say 1.5kpsf is acceptable

[hopeful]

A) when economy crash, property is cheap, but banks unwilling to loan you.

B) when economy boom, property is expensive, but banks willing to loan you.

how much cash do you have?
Unless you are cash rich and take bank mortgage using Asset-based mortgages, I suggest you go for B).
So just do it.

Because when crash, and your property price drop, banks unlikely to ask you for top up if you service your loan on time.

[blackpepperj]

hi all,

i'm a newbie in buying property. i welcome government property cooling measures and looking forward to find my dream condo.

each time when i check propertyguru.com or look at the ads, the condo prices are rather "very high" that ranges from $950K to $1M for a decent 2+1 or 3 bedrooms condo. i'm refering to TOP or new developments and not old condo.

during the recent cna talking points, the so called analyst said the psf close to $1K for outskirt condo or mass-market-condo is too high.

so, what is the acceptable price range? my intention is to buy and stay for minumum 5 years and then sell to make a profit assuming capital appreciation or probably not for sale for a long time.

thanks !

How much are you willing to offer for the unit that you like? If the seller is not willing to sell you at that price and you believe the analyst, then you move on to the next units lor. That analyst prob missed the boat

[azeoprop]

I think for new launch or already launched mass market condo, the minimum pricing to buy from the developer for a 2+1 or 3 bedroom now is around 800psf.

[sh]

that's ok. i understand from a owner point of view rather than a buyer point of view.

i'm looking at new condo and want to buy from developer directly

But why do you want to buy new, from the developer? The premium you're paying for new is very high. Compare what you can get for new and slightly old, you'll get much better value. Can renovate to your taste with the price difference.

[kingkong1984]

I think for new launch or already launched mass market condo, the minimum pricing to buy from the developer for a 2+1 or 3 bedroom now is around 800psf.

rooms can be misleading. 2+1 can be >1000 sqf and 3 bedder can be smaller than <1000 sqf.

Did a quick analysis using Jan 2011 caveats for size 753 sqf to 797 sqf

720 psf = 1, Sherwood tower $566k 786 sized.

841 psf = 1, Hillview green $670k, 797 sized.

873 psf = 1, Waterview, $686k, 786 sized.

1077 psf = 1, Central green, $835k, 775 sized.

1187 psf = 1, Santuary green, $920k, 775 sized

1239 psf = 1, Santuary green, $960k, 775 sized

1329 psf = 1, D'Chateau@shelford , $1.03m, 775 sized

1460 psf = 1, Zedge, $1.10m, 753 sized

1476 psf = 1, The LevelZ, $1.16m, 786 sized

1569 psf = 1, Novena Suites, $1.25m, 797 sized

1710 psf = 1, Icon, $1.34m, 786 sized

1838 psf = 1, Zenith $1.385m, 753 sized

1845 psf = 1, The Clift, $1.43m, 775 sized

1878 psf = 1, The Pier at Robertson, $1.415m, 753 sized.

2508 psf = 1, Altez, $1.89m, 753 sized.

Total deals = 15

for new launch benchmark, wait for caveats to come in. Based on the above. Hillview Regency is really a good buy (price wise)

[devilplate]

that's ok. i understand from a owner point of view rather than a buyer point of view.

i'm looking at new condo and want to buy from developer directly

another eg of' want new and fresh' but at older resale price...

wait till next global recession bah...i guess next OCR trough(new project) shd be ard 800-850psf for those near MRT

[devilplate]

I think for new launch or already launched mass market condo, the minimum pricing to buy from the developer for a 2+1 or 3 bedroom now is around 800psf.

tats for sembawang and not near MRT

EC lor...still got plenty 650psf now...hehe

[Laguna]

hi all,

my intention is to buy and stay for minumum 5 years and then sell to make a profit assuming capital appreciation or probably not for sale for a long time.

thanks !

just a few words
1. all asset classes have cycle, so dun assume u will make monies all the time.
2. if u sell high, u always end up buying higher, and commit more. So many caught when they committed the most. It then becomes disaster.
3. i always share with the younger ones that to stay cheap if u dun hv the capacity or limited capacity, then use the extra to spin more monies. In other words, dun tie down all your capital in a place to stay.

[penguin]

just a few words
1. all asset classes have cycle, so dun assume u will make monies all the time.
2. if u sell high, u always end up buying higher, and commit more. So many caught when they committed the most. It then becomes disaster.
3. i always share with the younger ones that to stay cheap if u dun hv the capacity or limited capacity, then use the extra to spin more monies. In other words, dun tie down all your capital in a place to stay.

Hi Laguna,

Yes this is very good advice as it's very true, esp #2.
As for #3, what you suggest in this current market? - to use all ur monies to fully pay up ur place to stay (and then when ppty market cycle is down then take equity loan to invest again), or to keep some monies aside now for potential investment-grade pptys...which we may not find in the near future, and taking into account rising interest rates this yr.

[devilplate]

Hi Laguna,

Yes this is very good advice as it's very true, esp #2.
As for #3, what you suggest in this current market? - to use all ur monies to fully pay up ur place to stay (and then when ppty market cycle is down then take equity loan to invest again), or to keep some monies aside now for potential investment-grade pptys...which we may not find in the near future, and taking into account rising interest rates this yr.

kapo again...haha

since oredi got a ppty...just keep spare cash on hand....be it for rainy days or future opportunities....

however if got spare cash but no ppty at all now....vy tough choice....i wud recommend to buy a smaller or cheaper location or even HDB and save some cash on hand

[land118]

just a few words
1. all asset classes have cycle, so dun assume u will make monies all the time.
2. if u sell high, u always end up buying higher, and commit more. So many caught when they committed the most. It then becomes disaster.
3. i always share with the younger ones that to stay cheap if u dun hv the capacity or limited capacity, then use the extra to spin more monies. In other words, dun tie down all your capital in a place to stay.

good advice, actually most of us know what to do, but majority of us lack the financial discipline. We know need to keep some liquid assets or cash to have spare bullet$ when opportunity presents, but most of the time we tend to follow and herd like the rest.

[hopeful]

Hi Laguna,

Yes this is very good advice as it's very true, esp #2.
As for #3, what you suggest in this current market? - to use all ur monies to fully pay up ur place to stay (and then when ppty market cycle is down then take equity loan to invest again), or to keep some monies aside now for potential investment-grade pptys...which we may not find in the near future, and taking into account rising interest rates this yr.

when economy down, property market down, how much do you think your property is worth then?
when economy down, banks have higher lending requirements.
this 2008 crisis is odd in that it results in very low interest rates, usually when crisis happens, interest rates shoot up.

[hyenergix]

hi all,

i'm a newbie in buying property. i welcome government property cooling measures and looking forward to find my dream condo.

each time when i check propertyguru.com or look at the ads, the condo prices are rather "very high" that ranges from $950K to $1M for a decent 2+1 or 3 bedrooms condo. i'm refering to TOP or new developments and not old condo.

during the recent cna talking points, the so called analyst said the psf close to $1K for outskirt condo or mass-market-condo is too high.

so, what is the acceptable price range? my intention is to buy and stay for minumum 5 years and then sell to make a profit assuming capital appreciation or probably not for sale for a long time.

thanks !

For 3-bedder, $1 mil is acceptable if it is new FH/999, and $850k is acceptable if 99LH. But they are harder to find these days. I doubt you can sell for a profit in 5 years' time because many people will be trying to sub-sale their new condo. Yours will be considered an old condo by then.

[kingkong1984]

For 3-bedder, $1 mil is acceptable if it is new FH/999, and $850k is acceptable if 99LH. But they are harder to find these days. I doubt you can sell for a profit in 5 years' time because many people will be trying to sub-sale their new condo. Yours will be considered an old condo by then.

Well... bedders are very misleading. I think this criteria is better. by Size!

1000 to 1250 sqf = $ 850K - $900k
750 to 1000 sqf = $750K - $800k

FH, add 10% to 20%

EC, minus 10% to 20%

Near MRT, add 5% to 10%

New, add 5% to 10% more

CCR multiply by 3x
RCR multiply by 2x
OCR mulitiply by 1x

Wait for the launch price of H 2 O (Have to OWE - not fully paid or Have to OWN, fully paid). But you could market it as Have 2 0 = OO, which is 8 sleeping.

[kingkong1984]

older must discount

1 to 3 years = 1% to 5%
3 to 5 years = 5% to 10%
5 to 10 years = 10% to 15%

rough guide only.

[silver023]

But why do you want to buy new, from the developer? The premium you're paying for new is very high. Compare what you can get for new and slightly old, you'll get much better value. Can renovate to your taste with the price difference.

Agree - don't assume developer gives the best price. They do raise their prices according to market sentiment, and they are sometimes the ones who lead the price increase. I'd rather go for those properties that are almost TOP or just TOP. Best to see the rooms for yourself, too many complaints about small sizes when owners get keys.

[wt_know]

any recommendation

1000 to 1250 sqf = $ 850K - $900k

Well... bedders are very misleading. I think this criteria is better. by Size!

1000 to 1250 sqf = $ 850K - $900k
750 to 1000 sqf = $750K - $800k

FH, add 10% to 20%

EC, minus 10% to 20%

Near MRT, add 5% to 10%

New, add 5% to 10% more

CCR multiply by 3x
RCR multiply by 2x
OCR mulitiply by 1x

Wait for the launch price of H 2 O (Have to OWE - not fully paid or Have to OWN, fully paid). But you could market it as Have 2 0 = OO, which is 8 sleeping.

[wt_know]

yeah. $850K for a 99LH 3-bedder is indeed very hard to find
the suggestion of selling in 5 years time is very premature. like i said, most likely not going to sell as this will be my dream home for my family

For 3-bedder, $1 mil is acceptable if it is new FH/999, and $850k is acceptable if 99LH. But they are harder to find these days. I doubt you can sell for a profit in 5 years' time because many people will be trying to sub-sale their new condo. Yours will be considered an old condo by then.

[wt_know]

thanks for your advice.

1. property to me is for long term. by mean of long term is to stay for years and sell if only there is considerable profit. if not, continue to stay or rent out.

2. that's what i'm afraid to end up. buy high. colleague advise that even you buy high, since you are not flipping the property then just stay la. 10 years down the road, property price will still go up due to tiny singapore and population grow. but, why should i buy high and service high loan, right ?

just a few words
1. all asset classes have cycle, so dun assume u will make monies all the time.
2. if u sell high, u always end up buying higher, and commit more. So many caught when they committed the most. It then becomes disaster.
3. i always share with the younger ones that to stay cheap if u dun hv the capacity or limited capacity, then use the extra to spin more monies. In other words, dun tie down all your capital in a place to stay.

[wt_know]

if cannot get new and fresh at older resale price but 'corrected' price okie ? isn't 2010 price is highly speculated ?

another eg of' want new and fresh' but at older resale price...

wait till next global recession bah...i guess next OCR trough(new project) shd be ard 800-850psf for those near MRT

[mantrix]

if cannot get new and fresh at older resale price but 'corrected' price okie ? isn't 2010 price is highly speculated ?

If you think 2010 was bad 2011's gonna be worse....

[Laguna]

Hi Laguna,

Yes this is very good advice as it's very true, esp #2.
As for #3, what you suggest in this current market? - to use all ur monies to fully pay up ur place to stay (and then when ppty market cycle is down then take equity loan to invest again), or to keep some monies aside now for potential investment-grade pptys...which we may not find in the near future, and taking into account rising interest rates this yr.

my 2 cts thoughts

1. equity loan is not that easy to get and costly. I was looking around lately for equity loans, using my fully paid properties as collateral, to finance property purchase, the deal was not that great.

2. asset mgt : suggest to have some forms of assets in very liquid form, and with good yield, ie,. higher than the mortgage rate, then it will make sense. Property is the worst in term of liquidity, especially so if it is a buyers' market.

3. If ur not able to invest with good yield and capital appreication, then u can consider to fully pay up your property. Personally, I dun encourage.

So fundamentally, u need to equip good investment knowledge and action. Property is not the only means to make monies.

[kingkong1984]

any recommendation

1000 to 1250 sqf = $ 850K - $900k

I believe u know where to find.

What is your need? Is it a need or want.

If need, think long term, buy now if not price go higher. It's only natural for properties to go up. Not easy for it to go down.

Which area r u looking at? I might be able to share my views. Any district in mind?

[wt_know]

ok. i thought the cooling measure will at least correct property price (not crash). if property price continue to spike then i should

If you think 2010 was bad 2011's gonna be worse....

[wt_know]

i'm living in choa chu kang and till now i still prefer to stay in the west. but, i don't think there is a barrier to move to other sides if the property is good (ie: near mrt, amenities, expressway, etc)

I believe u know where to find.

What is your need? Is it a need or want.

If need, think long term, buy now if not price go higher. It's only natural for properties to go up. Not easy for it to go down.

Which area r u looking at? I might be able to share my views. Any district in mind?

[fooblackie]

i'm living in choa chu kang and till now i still prefer to stay in the west. but, i don't think there is a barrier to move to other sides if the property is good (ie: near mrt, amenities, expressway, etc)

since you are familiar in CCK, why dun you wait for the EC launch besides Mi Casa? It will be brand new and should be ard $700psf thereabouts? It is near MRT amenities.

I am assuming you meet the requirements and salary ceiling...

[wt_know]

can't get EC. exceed ceiling already

since you are familiar in CCK, why dun you wait for the EC launch besides Mi Casa? It will be brand new and should be ard $700psf thereabouts? It is near MRT amenities.

I am assuming you meet the requirements and salary ceiling...