Property agent pays $808,080 for Tampines flat

**buttercarp** · 03-09-12, 09:17

http://www.tnp.sg/content/property-a...-tampines-flat

By:
Benson Ang

TNP PHOTO: Choo Chwee Hua

Just how much are people willing to pay for an HDB flat?

Mr Freddy Choo paid $808,080 for his executive maisonette in Tampines.

Worth every cent, he said.

The price includes a whopping $168,080 in cash over valuation (COV).

That’s among the largest COVs paid since the financial crisis in 2008, said real estate agents.

Read the full report in The New Paper on Monday (Sept 03).

**phantom_opera** · 03-09-12, 09:20

COV is 168, txn price is 808 .... Huat 8X

But next time Tampines will have 3 MRT lines ... it could prove to be the #1 regional centre

**carbuncle** · 03-09-12, 10:39

686868 might have been a more auspicious and reasonable sum

**phantom_opera** · 03-09-12, 10:47

Originally Posted by carbuncle

686868 might have been a more auspicious and reasonable sum

Next time when DTL3 is up, this guy may be able to sell 988,888 or 1,088,888

Especially when QE3 is open-ended and interest rate to stay low till 2020

**Regulators** · 03-09-12, 11:09

I thought property agents should have more sense than to pay such high covs for hdb flats. I remember purchasing my hdb flat from the open market years back below valuation.

**phantom_opera** · 03-09-12, 11:12

Very soon, EMs near MRT will hit 1m due to limited supplies

Again, this will pull up big 5r HDB (3+S type 1313sqft) resale prices ... slowly but surely

sh · 03-09-12, 11:14

Originally Posted by Regulators

I thought property agents should have more sense than to pay such high covs for hdb flats. I remember purchasing my hdb flat from the open market years back below valuation.

see.. agents are too well paid!

**phantom_opera** · 03-09-12, 11:24

couldn't find the transaction yet in HDB website ... none is above 800k so far

226 Simei St 4 01 to 05 154.00
Maisonette 1988 $728,888.00 Aug 2012

856C Tampines St 82 11 to 15 151.00
Apartment 1995 $773,000.00 Aug 2012

808k assume 150sqm is about 500psf, still not very high in terms of psf

Certainly no match for these:

91 Tanglin Halt Rd 31 to 35 110.00
Improved 2008 $890,000.00 Aug 2012

2D Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $897,000.00 Apr 2012

**buttercarp** · 03-09-12, 11:42

I wonder why must he boast about his buy?
Was it The Newpaper who approached him, or he volunteered the info to the press?

I suppose his flat is right in front of Tampines Mall and century square.

**may2012** · 03-09-12, 12:13

Wow! its a good buy!

But comes 2015 -50% becomes $400K??

**ikan bilis** · 03-09-12, 12:22

Originally Posted by phantom_opera

couldn't find the transaction yet in HDB website ... none is above 800k so far

226 Simei St 4 01 to 05 154.00
Maisonette 1988 $728,888.00 Aug 2012

856C Tampines St 82 11 to 15 151.00
Apartment 1995 $773,000.00 Aug 2012

808k assume 150sqm is about 500psf, still not very high in terms of psf

Certainly no match for these:

91 Tanglin Halt Rd 31 to 35 110.00
Improved 2008 $890,000.00 Aug 2012

2D Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $897,000.00 Apr 2012

got $864psf.... 40yr old 3rm flat....
53 Stirling Rd 01 to 05 81.00 Terrace 1968 $752,800.00 Jul 2012

**radha08** · 03-09-12, 12:23

Originally Posted by buttercarp

I wonder why must he boast about his buy?
Was it The Newpaper who approached him, or he volunteered the info to the press?

I suppose his flat is right in front of Tampines Mall and century square.

enjoy the traffic...both human and cars...

**carbuncle** · 03-09-12, 12:30

ah this hdb terrace... very the unique. can't compare this way

**ikan bilis** · 03-09-12, 12:30

that guy's professional as property agent mah... need the more 曝光 in the news to get more deals/biz...

**ikan bilis** · 03-09-12, 12:32

Originally Posted by carbuncle

ah this hdb terrace... very the unique. can't compare this way

true... but dun know if 81sqm is with "PES" included...

**radha08** · 03-09-12, 12:33

Originally Posted by ikan bilis

that guy's professional as property agent mah... need the more 曝光 in the news to get more deals/biz...

willing seller willing buyer...so now valuation will go up and price will go up....how to drop 50% in 2015...maybe this agent huat x3 sold all his private property now stay at HDB EM..enjoy good life..

**radha08** · 03-09-12, 12:34

Originally Posted by ikan bilis

got $864psf.... 40yr old 3rm flat....
53 Stirling Rd 01 to 05 81.00 Terrace 1968 $752,800.00 Jul 2012

stirling road is a SCARING

area..a lot of drug addict and gangster...

**Rysk** · 03-09-12, 12:37

Maybe seller insist COV $68k only.
But buyer very superstitous think "68" will HUAT slower.. so he willing to offer "168".. cos "168" is more powerful than "68"

**radha08** · 03-09-12, 12:38

Originally Posted by Rysk

Maybe seller insist COV $68k only.
But buyer very superstitous think "68" will HUAT slower.. so he willing to offer "168".. cos "168" is more powerful than "68"

so this one how to OFFER...

http://www.propertyguru.com.sg/listi...eet-11-8498128

agent a bit CUCKOO like that indian lawyer M Ravi

**radha08** · 03-09-12, 12:40

Originally Posted by radha08

so this one how to OFFER...

http://www.propertyguru.com.sg/listi...eet-11-8498128

agent a bit CUCKOO like that indian lawyer M Ravi

someone should report him in his advert he say suitable to RENT to pilot/stewardess

**ikan bilis** · 03-09-12, 12:41

Originally Posted by Rysk

Maybe seller insist COV $68k only.
But buyer very superstitous think "68" will HUAT slower.. so he willing to offer "168".. cos "168" is more powerful than "68"

ya hor.... may be he pays $168 cov and collects $100K back under table... like that then can get printed on news paper... else who cares about news of 700K hdb in tampines....

**radha08** · 03-09-12, 12:45

Originally Posted by ikan bilis

ya hor.... may be he pays $168 cov and collects $100K back under table... like that then can get printed on news paper... else who cares about news of 700K hdb in tampines....

hurry up send in the cpib...

**carbuncle** · 03-09-12, 12:57

regardless, where to find terrace for 750k these days

**radha08** · 03-09-12, 13:04

Originally Posted by carbuncle

regardless, where to find terrace for 750k these days

so nice...

http://www.propertyguru.com.sg/listi...-road-10592917

**eng81157** · 03-09-12, 13:13

Originally Posted by radha08

so nice...

http://www.propertyguru.com.sg/listi...-road-10592917

buy at your own risk

**ikan bilis** · 03-09-12, 13:15

Originally Posted by radha08

so nice...

http://www.propertyguru.com.sg/listi...-road-10592917

haha... i tot you like ground flr and pes... now available at 1/2 price...

but hor, you cannot keep your 4rm flat liow...

**radha08** · 03-09-12, 13:56

Originally Posted by ikan bilis

haha... i tot you like ground flr and pes... now available at 1/2 price...

but hor, you cannot keep your 4rm flat liow...

yup so many restristions...sianzzzz

**radha08** · 03-09-12, 13:58

in all honesty i think an EM at 800K in such a location is worth more and a BETTER investment than a PC in in ULU location...but of course buying a HDB got certain restricstions like MOP etc....but as usual i always have my 2

opinions...

**carbuncle** · 03-09-12, 14:10

but hdb terrace is MM terrace!! plus layout usually is elongated

**radha08** · 03-09-12, 16:35

Originally Posted by carbuncle

but hdb terrace is MM terrace!! plus layout usually is elongated

nevermind the layout what about the neighbours...

...mr and mrs Ah...LONG

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