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Thread: Qbay @ Tampines - By FEO, FCL and Seikisui House LH99

  1. #751
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    Quote Originally Posted by phantom_opera
    although the location is not great, the layout, the site plan are very well designed ... this bay villa is supposed for owners to invite guests and haolian

    So my guests can stay over night in the bay villa? It looks rather "open" with glass walls and next to pool used by all residents. Will the guests be comfortable living there? Will it have a opposite effect implying to my guests my house too small cannot accomodate them?

    Will some business minded resident or tenants "rent" it out?

  2. #752
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    Quote Originally Posted by thomastansb
    I don't know how it is workable. If you all want to know, you have to ask the agents there. I was given the information but since I didn't buy, I won't know if it is workable or not. Oh, they have bankers there also. So can ask them all at one place. They have 2 types of pricing. One higher price with rebate and one lower price without rebate. The rebate is about 7% for ABSD but you have to get a higher loan since nett price is almost similar. That is all I know.
    U have to declare discount rebate voucher etc

  3. #753
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    Quote Originally Posted by Laguna
    ya, 600+ units, with 52 weekends
    u need to wait long long to have a booking
    5 yrs for a weekend booking.
    2 yrs if don't mind weekdays.

    Who will pay for housekeeping - linens & cleaning everyday?

  4. #754
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    Quote Originally Posted by wtpooh
    5 yrs for a weekend booking.
    2 yrs if don't mind weekdays.

    Who will pay for housekeeping - linens & cleaning everyday?
    of course, part of the maintenance unless the MCST decides to charge fee per use

  5. #755
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    but we can also imply that 54% are first timers, 38% are 2nd timers who may be selling their current residence upon the completion of this project so that they can get their 7% back. that could mean that, a potential 92% of buyers need not pay the ridiculous 7% stamp duty.

    Quote Originally Posted by gadiny
    Per Lianhe Zaobao, buyers's profile for the 210 units sold yesterday by 6pm:
    - About 38% of buyers currently owned 1 property and
    - About 8% currently owned >1 properties

  6. #756
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    the boy who cried wolf dead at 3rd time .. we have 7 times of CMs liao
    Ride at your own risk !!!

  7. #757
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    Quote Originally Posted by RCT
    But at least the number sold is really down.. The price went down too.. Only sold out 1/3 of the units..
    Can't really understand the maths in this, original price 1050psf, after 15% discount and 7% stamp duty, it is selling 985psf? Doesn't tally at all.


    Then at $985psf, the buyer need to pay 7% stamp duty, effectively the buyer still pay 1050psf, ha buyer still pay same amount loh, just tat developer earning less.

  8. #758
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    Went down to have a look taking the opportunity since it was raining heavily therefore less crowded than it should normally be.

    Very nice layout for the units. Bathrooms have windows (even the 1 BR). A lot of windows in all the units so they will be bright and airy. But none will have direct West sun (agent said unlike Waterview where the quarry view units will have West sun). Finishes decent - compressed marble for living/dining, timber strips for bedrooms, feature wall in bathroom is natural marble. The cupboards are well designed with decent storage space. Not sure about the folding doors in the walk in wardrobe for the master bedroom though - no experience of that kind of door. Agent claims the non-master bedrooms in the 3 bedders can all fit 2 single beds (though I have my doubts about this).

    The villas will have a fee per night for the rental - she quoted around $100 per night but this is not yet fixed. There are only 2 villas. I thought it is a good idea whoever thought up this idea deserves a lot of credit.

    Free shuttle bus to Tampinese MRT for 2 years after TOP.

    I love the layout of the Trio.....can see why the WV owner is considering moving across the road.

    For own stay and if you don't need the MRT to be within walking distance, this is very attractive.

  9. #759
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    15% discount was already there (typical far east). only 7% added becoz of CM7. oh, kind of slow, but just realised why its called CM7 now. hahahahahaha

    985 add 7% is 1054psf lor.

    this 985psf only benefits 1st timers and 2nd timers who subsequently sell their current residence within 6 months of TOP of this project. these are the people who gain a 7% advantage. everyone else is still paying the same price as before.

    Quote Originally Posted by Allthepies
    Can't really understand the maths in this, original price 1050psf, after 15% discount and 7% stamp duty, it is selling 985psf? Doesn't tally at all.


    Then at $985psf, the buyer need to pay 7% stamp duty, effectively the buyer still pay 1050psf, ha buyer still pay same amount loh, just tat developer earning less.

  10. #760
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    Default BT trying to make it sound like it has cooled hahaha

    PUBLISHED JANUARY 19, 2013

    They came, they saw, but only half signed up

    Thanks to cooling measures, only 214 close deal at preview launch of Q Bay Residences

    FOUR hundred out of the 500 people who had indicated interest in buying a unit in Q Bay Residences showed up for the preview launch yesterday - but only 214 of them signed on the dotted line to do so.

    Elson Poo, the general manager of marketing and sales at Frasers Centrepoint Homes, put their hesitation down to the effect of the government measures introduced to cool the property market.

    "If not for the cooling measures affecting the loans available to buyers, we would have sold 300 units," he said.

    Among the measures imposed last Friday was the one which lowered loan-to-value ratios from 60 per cent to 50 per cent for those taking up a second housing loan, and from 60 per cent to 40 per cent for those taking third or subsequent loans.

    The LTV is a lending-risk assessment ratio which banks look at when deciding whether to approve a mortgage.

    It is calculated by dividing the mortgage amount by the value of the property.
    Individuals applying for second or subsequent home mortgages now have to pay a bigger cash downpayment too - 25 per cent, up from 10 per cent.

    Mr Poo said, however, that those who did not make a purchase yesterday because of the new loan restrictions are likely to return to do so when they have worked out their financing issues.

    "We talked to some buyers who said they liked the product very much, but owing to problems with the upfront cash payment, they may take a little more time to consolidate their loans."

    Q Bay, which is in Tampines, is the first private condominium launched since the cooling measures were introduced. How well it sells is being closely watched for an indication of the property scene going forward.

    SLP International executive director Nicholas Mak said: "Developers are waiting to see what will happen, but the take-up rate of units at Q Bay shows continued demand, and that buyers are responding well to the promotions offered by developers."

    Property consultants BT spoke to predicted reduced demand for Q Bay's one to two-bedroom units, since such small units are typically bought for investment by second and third home buyers. These small units make up nearly half of Q Bay's 630 units.

    Among the units sold yesterday, however, 46 per cent were one and two-bedroom units.

    Mr Mak attributed the relatively strong demand for Q Bay to its Tampines location, which he described as an upgrader's market.

    Ong Teck Hui, the national director of research and consultancy at Jones Lang LaSalle, said no new private condominium has come up in Tampines for some time. With Q Bay going at the cost of under $1,000 per sq ft (psf) on average, buyers probably see it as being competitively priced.

    Mr Ong added: "Being an HDB heartland condominium, most of the buyers would be HDB upgraders who are first-time private home buyers less affected by the recent measures."

    The developers, a consortium of Frasers Centrepoint, Far East Organization and Sekisui House, launched the condominium at an average price of $985 psf yesterday, after dangling a 5 to 7 per cent discount on the stamp duty to cushion the impact of the additional buyer's stamp duty (ABSD) imposed on all buyers except Singaporeans buying their first home.

  11. #761
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    Quote Originally Posted by chiaberry
    Went down to have a look taking the opportunity since it was raining heavily therefore less crowded than it should normally be.

    Very nice layout for the units. Bathrooms have windows (even the 1 BR). A lot of windows in all the units so they will be bright and airy. But none will have direct West sun (agent said unlike Waterview where the quarry view units will have West sun). Finishes decent - compressed marble for living/dining, timber strips for bedrooms, feature wall in bathroom is natural marble. The cupboards are well designed with decent storage space. Not sure about the folding doors in the walk in wardrobe for the master bedroom though - no experience of that kind of door. Agent claims the non-master bedrooms in the 3 bedders can all fit 2 single beds (though I have my doubts about this).

    The villas will have a fee per night for the rental - she quoted around $100 per night but this is not yet fixed. There are only 2 villas. I thought it is a good idea whoever thought up this idea deserves a lot of credit.

    Free shuttle bus to Tampinese MRT for 2 years after TOP.

    I love the layout of the Trio.....can see why the WV owner is considering moving across the road.

    For own stay and if you don't need the MRT to be within walking distance, this is very attractive.
    We share the same sentiments. I saw it, I love it, I think about it but decided not to buy it. Heheh. It's a fantastic development with newly injected ideas of a promised resort style home.

    If not for the waiting time, I would have jumped into this boat. It not marketing alone. A lot of effort has been put into developing this pure of land to a beautiful gem. I really like it so much. Each time I hear a mention of the alphabet Q, the butterflies in my timah flits to my heart. How I love this wonderful place!! The Trio is sweet.

  12. #762
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    same as La Fiesta... La Fiesta have all their 1-room sold out... But actually QBay did quite well to have sell 1/3 of their apartment.. I believe if you have money now, it is a good time to buy big apartments... hahaha

  13. #763
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    the pool coming right up to the PES on the ground floor unit reminds me of Caspian.

  14. #764
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    True. This is one of the loveliest ground floor unit. Straight to the pool but again can be noisy at times but I don't mind it at all. Very beautiful. Nice surroundings.

  15. #765
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    Quote Originally Posted by desquire
    True. This is one of the loveliest ground floor unit. Straight to the pool but again can be noisy at times but I don't mind it at all. Very beautiful. Nice surroundings.
    yes, it'll be quite noisy, being poolside at your patio can be very charming at night but in the day, the swimmers can look straight into your house.

  16. #766
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    waterfront key also have some ground floor units like that one.
    http://www.propertyguru.com.sg/listi...waterfront-key

  17. #767
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    so many agents at the showflat and many sold are one bedder.

    some more got sms from a bank offering sibor + 0.90%

  18. #768
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    Quote Originally Posted by monsieur2
    so many agents at the showflat and many sold are one bedder.

    some more got sms from a bank offering sibor + 0.90%
    bro... 25% cash downpayment.. That is the real thing that is going to stop people from buying. Singapore is different from other country like China but are like USA. We are buying using credit which means the country can easily control the numbers by adjusting the down payment in cash... If this CM7 is in China, I can tell you totally no effect at all.. The people will only laugh at the government... In Singapore, it seem to have some effect.

    For example, we take a 1 million property for example.

    Before CM7, cash = 100k and cpf = 300k plus ard BSD of ard 25k. So cash down payment will be 125k cash and 300k cpf.

    After CM7, cash = 250k and cpf = 250k plus ard ABSD of ard 95k. So cash down payment will be 345k cash and 250k cpf.

    We will need $220k in cash to buy the same property... So those who want to invest in 3 room, now have to settle for 1 room.. For those who want to invest in 2-room or below, really have to think how to get the cash.. But if I have $300k in cash, you can get quite good interest rate from banks.

    Another thing I cannot understand is why 1st timer don't go for HDB but go for PC?

  19. #769
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    Quote Originally Posted by RCT
    Another thing I cannot understand is why 1st timer don't go for HDB but go for PC?
    bro, 1) exceed income limit 2) prestige 3) perceived affordability due to low interest rate 4) have not experienced any property correction while having an outstanding mortgage

  20. #770
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    Quote Originally Posted by monsieur2
    bro, 1) exceed income limit 2) prestige 3) perceived affordability due to low interest rate 4) have not experienced any property correction while having an outstanding mortgage
    Point 1 : I agreed.
    Point 2 : If take loan to have prestige, I think it is a bit weird.
    Point 3 : Affordability.. In my eyes, affordability is when I want to buy $1 of goods and then I must have $1 of cash..
    Point 4 : I think so too.. But another thing is our interest rate is really too low.. hahhaah

  21. #771
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    Quote Originally Posted by RCT
    Point 1 : I agreed.
    Point 2 : If take loan to have prestige, I think it is a bit weird.
    Point 3 : Affordability.. In my eyes, affordability is when I want to buy $1 of goods and then I must have $1 of cash..
    Point 4 : I think so too.. But another thing is our interest rate is really too low.. hahhaah
    I can remember my rich friends using gold bar to buy property during the 2008 crisis... hahaha.. the price then is really cheap...

  22. #772
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    Before cm7, when you needed 40% downpayment, a good chunk of those buyers already have more than 25% cash I suspect. Its not that easy to raise more than the 15% in CPF when they are actively using it for a current mortgage that they have.

  23. #773
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    Quote Originally Posted by bargain hunter
    15% discount was already there (typical far east). only 7% added becoz of CM7. oh, kind of slow, but just realised why its called CM7 now. hahahahahaha

    985 add 7% is 1054psf lor.

    this 985psf only benefits 1st timers and 2nd timers who subsequently sell their current residence within 6 months of TOP of this project. these are the people who gain a 7% advantage. everyone else is still paying the same price as before.
    Hi just a quick check with the experts here.
    So in essence, for the purpose of calculating ura property price index, prices are deemed to have dropped given the discounts? (Of course still need to factor in prices for other projects)

  24. #774
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    resale prices won't drop so fast. and for new launches, it always does not really impact the ura index rite? since most of the projects are still benchmark psfs and even 985psf for Q bay is still a record for the area isn't it? i think there is more impact if there are many projects which are already launched and start cutting prices by 7% or more.



    Quote Originally Posted by timmy
    Hi just a quick check with the experts here.
    So in essence, for the purpose of calculating ura property price index, prices are deemed to have dropped given the discounts? (Of course still need to factor in prices for other projects)

  25. #775
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    also have to take note that 2nd property purchase does not equate 2nd mortgage since 1st ppty, be it hdb or pte may be fully paid up.

    so the 38% of buyers who already own 1 property may have that ppty fully paid up, thus, can still put just 20% down for this one.

    2) there are many pple who take loan to have prestige, be it cars or ppties.

    3) agree personally but cannot say the same for other pple.



    Quote Originally Posted by RCT
    Point 1 : I agreed.
    Point 2 : If take loan to have prestige, I think it is a bit weird.
    Point 3 : Affordability.. In my eyes, affordability is when I want to buy $1 of goods and then I must have $1 of cash..
    Point 4 : I think so too.. But another thing is our interest rate is really too low.. hahhaah

  26. #776
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    Quote Originally Posted by RCT
    But if I have $300k in cash, you can get quite good interest rate from banks.
    Any product/bank recommendation for good returns that is relatively safe?

  27. #777
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    Quote Originally Posted by bakasa2002
    Any product/bank recommendation for good returns that is relatively safe?
    Bro good returns and relatively safe products used in the same breath is just like the mystical unicorn, non existence or very very rare.However index tracking (STI) products may be worth considering

  28. #778
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    Quote Originally Posted by kane
    the banks expect you to declare the final price you pay nett off all discounts rebate etc before the calculate the 80% of that nett price. I don't think it is workable. but if it is happening, then it might be a loophole somewhere.

    if you can take a loan against ABSD, SSD or whatever stamp duty, then how can it still function as a cooling measure.

    COE is suppost to be a cooling measure for car ownership, but it can be loaned as well. t the end of the day $ collected more impt to the ministars.

    Gov is more concern of the back dating of options where $ is lost.

  29. #779
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    Quote Originally Posted by bakasa2002
    Any product/bank recommendation for good returns that is relatively safe?
    A lot of people asking me the same question.
    The answer is : do your work!

    There are still a good numbers of good picks in the share market.

  30. #780
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    Safe and good returns differ from person to person. Specify a specific number in terms of percentage returns and the amount of volatility you can accept before you consult your advisor where to park your funds.

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