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Thread: #1 Loft, 80 units, Geylang

  1. #61
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    Quote Originally Posted by buttercarp
    Agent say no discount.
    But developer help u pay the 10%.
    So he says it is legal.
    It is as though u buy a house n a fren help u pay.
    I doubt it is legal.. any authorities we can check with?

  2. #62
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    Quote Originally Posted by mcmlxxvi
    It's not meant for him only... is for anyone who say 'must only say nice things' in a forum.
    if he want to comment anything about 1 loft, so be it but not when i contributed to the thread and he accused me of being an agent. accusation of me being agent , what does it got to do w saying nice things or not?

  3. #63
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    Quote Originally Posted by price
    I doubt it is legal.. any authorities we can check with?
    Where's our resident whistle-blower?

  4. #64
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    Quote Originally Posted by price
    I doubt it is legal.. any authorities we can check with?
    Perhaps this is a loophole.

    If the developer did not give the buyer a discount, then the LTV will be based on the buying price.
    However, if you are given a discount on the buying price and did not declare it, then it is illegal.

    Later as the progressive payment begins, as long as you have the means to pay, the payment can be from yourself, your friend or other sources, as long as it meets the current criteria.

    This is how I interpret it.
    Better to check with the relevant authority.

  5. #65
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    Quote Originally Posted by buttercarp
    Perhaps this is a loophole.

    If the developer did not give the buyer a discount, then the LTV will be based on the buying price.
    However, if you are given a discount on the buying price and did not declare it, then it is illegal.

    Later as the progressive payment begins, as long as you have the means to pay, the payment can be from yourself, your friend or other sources, as long as it meets the current criteria.

    This is how I interpret it.
    Better to check with the relevant authority.
    But in this case, things may turn quite serious. 2nd time buyers affected by the 50% LTV may one day be set off by such deals. Developer paying 30%?

    In a way the developer has added this 10% into the purchase price of the unit. It is like a scenario where you are actually borrowing your own future money.

  6. #66
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    Default confirmation that SL Cheong is Simon Cheong's uncle

    taken from:

    http://www.asiaone.com/Business/My+M...228-42817.html


    The star purchased 1 Neil Road from a firm owned by Mr S. L. Cheong, which also owns the 1 Nassim Road property leased to Chan.

    Mr Cheong, the uncle of SC Global chief Simon Cheong, also sold Chan The 50s entertainment complex on Tanjong Pagar Road for $8.8 million in 1996.


    but i don't see any link whatsoever with SC Global other than that. cannot use (ruin) the SC Global name at all i feel.

  7. #67
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    I think there are someone in this forum from media or govt body. Remember the case about the back-dated date for the CM7, after discussing here, relevant authority check on it, don't know whether their source is from here or elsewhere . If this is the case, I think next time, people with any good "illegal" lobang will not dare to share here "publicly", otherwise indirectly, they are getting themselves into trouble and also might affect others, this is my , no offence, pls.

    I think if the developers give discount to the buyer and declare the value after the discount, then it is not illegal because that's the actual SP but again, if the developer declare the net selling price, then the psf will be lower, will this affect the ppty market?

  8. #68
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    Quote Originally Posted by sh
    So the caveat price is the full price but you actually pay 90%. Bank loan will be based on full price? Is this legal ?

    If like this also can, developer can mark up price 100%, then pay 50%. 60% LTV become 80%.... Whatever CM also no use...
    But the ABSD + BSD will based on the marked up value, very xiong.

  9. #69
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    Quote Originally Posted by irisng
    I think there are someone in this forum from media or govt body. Remember the case about the back-dated date for the CM7, after discussing here, relevant authority check on it, don't know whether their source is from here or elsewhere . If this is the case, I think next time, people with any good "illegal" lobang will not dare to share here "publicly", otherwise indirectly, they are getting themselves into trouble and also might affect others, this is my , no offence, pls.

    I think if the developers give discount to the buyer and declare the value after the discount, then it is not illegal because that's the actual SP but again, if the developer declare the net selling price, then the psf will be lower, will this affect the ppty market?
    Hi...It's me; I just whistleblew yesterday.

  10. #70
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    Quote Originally Posted by babyt
    if he want to comment anything about 1 loft, so be it but not when i contributed to the thread and he accused me of being an agent. accusation of me being agent , what does it got to do w saying nice things or not?
    Ok la. Let it go man. Open forum - everyone can say whatever they want.

    Remember.

    You can't control what others think or say.
    But - you can control whether/how you react.

  11. #71
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    # 1 LOFT LORONG 24 GEYLANG Apartment 1 778,480 592 Strata 1,315 Jan-13
    # 1 LOFT LORONG 24 GEYLANG Apartment 1 778,480 592 Strata 1,315 Jan-13

    Two sold - exact same price.

  12. #72
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    Quote Originally Posted by mcmlxxvi
    # 1 LOFT LORONG 24 GEYLANG Apartment 1 778,480 592 Strata 1,315 Jan-13
    # 1 LOFT LORONG 24 GEYLANG Apartment 1 778,480 592 Strata 1,315 Jan-13

    Two sold - exact same price.
    you need lots of guts to be buying this project i feel

  13. #73
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    Quote Originally Posted by yowetan
    Hi...It's me; I just whistleblew yesterday.
    You are very honest.

  14. #74
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    Quote Originally Posted by price
    you need lots of guts to be buying this project i feel
    In what sense? Becoz Jln Suka Suka chicken cum is just ard the corner?
    Or...? It's designed like multi-level chicken coops?

    How it turns out, the owners will have a direct impact on it. If owners don't rent out cheap and are selective in their tenant choice, it should turn out well.

    If not, it will become The Sail of Geylang.

    The above actually applies more or less to ANY project. Big or small, new or old.

  15. #75
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    Quote Originally Posted by mcmlxxvi
    In what sense? Becoz Jln Suka Suka chicken cum is just ard the corner?
    Or...? It's designed like multi-level chicken coops?

    How it turns out, the owners will have a direct impact on it. If owners don't rent out cheap and are selective in their tenant choice, it should turn out well.

    If not, it will become The Sail of Geylang.

    The above actually applies more or less to ANY project. Big or small, new or old.
    yep, u gotta try walking in lor 24 during midnight to experience what one is getting into when buying this project

  16. #76
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    Quote Originally Posted by price
    yep, u gotta try walking in lor 24 during midnight to experience what one is getting into when buying this project
    Hi price.... u still in xmas mood from your signature!
    Guys walking there is fine..... but for gals it is no good.
    I drove thru that lorong.
    Can't imagine what I would have done if my car broke down there.

  17. #77
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    Quote Originally Posted by irisng
    You are very honest.
    Oops... should be you are very honest to confess.

  18. #78
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    Quote Originally Posted by buttercarp
    Hi price.... u still in xmas mood from your signature!
    Guys walking there is fine..... but for gals it is no good.
    I drove thru that lorong.
    Can't imagine what I would have done if my car broke down there.
    I'm not trying to talk bad about the ppty in this Lorong but really, my husband accompanied me to Lor 24 to have a walk at about 9pm few months back (I think before enbloc), so many people there (you know whom I meant), I feel a bit uneasy too. But maybe with so many enbloc and new apartments coming up, vice might get lesser and lesser, just hope for it.

  19. #79
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    Quote Originally Posted by irisng
    I'm not trying to talk bad about the ppty in this Lorong but really, my husband accompanied me to Lor 24 to have a walk at about 9pm few months back (I think before enbloc), so many people there (you know whom I meant), I feel a bit uneasy too. But maybe with so many enbloc and new apartments coming up, vice might get lesser and lesser, just hope for it.
    For this issue, I think lorong 30 and above are not so bad right?

  20. #80
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    once i move in, i will update u guys on the surrounding

    less ppl buy better, i can use the pool myself.

  21. #81
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    Very interesting layouts ... Converting the living room into a bedroom:

    1) 1BR can be converted to a 2BR (both en-suites)
    2) 3BR can be converted to a 4BR (all en-suites)

    Seems like developer is advantagarde and trying to promote something 'new age' in Geylang





  22. #82
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    Quote Originally Posted by irisng
    I'm not trying to talk bad about the ppty in this Lorong but really, my husband accompanied me to Lor 24 to have a walk at about 9pm few months back (I think before enbloc), so many people there (you know whom I meant), I feel a bit uneasy too. But maybe with so many enbloc and new apartments coming up, vice might get lesser and lesser, just hope for it.
    no need wait till 9pm, morning also the same.

  23. #83
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    i am wondering if cheap whores have the class n money to rent loft to do business?

    its just not feasible since at most they can only convert 2 bedrooms only!

    along Lorong 24, other than 1Loft, there is also Edenz Loft and 2 other projects (Octet and Residence 1) listed in map.gov.sg but i cant find info on them.

  24. #84
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    Quote Originally Posted by zeamybro
    Very interesting layouts ... Converting the living room into a bedroom:

    1) 1BR can be converted to a 2BR (both en-suites)
    2) 3BR can be converted to a 4BR (all en-suites)

    Seems like developer is advantagarde and trying to promote something 'new age' in Geylang




    Type B4 looks ok to me, very neat layout.

  25. #85
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    Quote Originally Posted by Cupcakes
    no need wait till 9pm, morning also the same.
    Is it? I went there almost every weekend to look at my UC apartment , Lor 24 looks quite quiet in the morning leh. In fact the whole stretch of Geylang Road also looks quiet.

  26. #86
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    Quote Originally Posted by siewsphone
    For this issue, I think lorong 30 and above are not so bad right?
    No, must say from Lorong 26 onwards because I bought a unit at Lorong 28, haha. Now even Lorong 24 also has enbloc, hope that enbloc can continue to go on in Geylang, hopefully that vice can get lesser and lesser. BUT PLEASE, never sell to the "OKT" to run the "business", if not vice will be even more. Should set a rule that apartments are for staying and not for "business".
    Last edited by irisng; 20-02-13 at 14:50.

  27. #87
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    Quote Originally Posted by babyt
    i am wondering if cheap whores have the class n money to rent loft to do business?

    its just not feasible since at most they can only convert 2 bedrooms only!

    along Lorong 24, other than 1Loft, there is also Edenz Loft and 2 other projects (Octet and Residence 1) listed in map.gov.sg but i cant find info on them.
    Actually they do. pardon my honest opinion. if i were to buy one, those ladies would be my target. imagine it rented to them a high of $3000 per month. Each room is about $50 per DAY! Very worth to them! They charge $100 /60min/1 and market themselves as including room! More worth than book at the hotel that goes by hour.

  28. #88
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    why would OKT buy loft units to do business, just sound very unlikely.

    if im OKT, i rather buy a terrace unit and convert the space inside into many smaller cubicles.

    i have a fren who stays at CASA at lorong 26. before TOP, ppl were commenting the same things on Geylang and whores...but unfortunately, he said the residents who are staying there now are not whores.

  29. #89
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    Quote Originally Posted by babyt
    why would OKT buy loft units to do business, just sound very unlikely.

    if im OKT, i rather buy a terrace unit and convert the space inside into many smaller cubicles.

    i have a fren who stays at CASA at lorong 26. before TOP, ppl were commenting the same things on Geylang and whores...but unfortunately, he said the residents who are staying there now are not whores.
    haha 'unfortunately', nice one!

    no, no, not OKT buy. OKT rent from owner.

  30. #90
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    Quote Originally Posted by leesg123
    haha 'unfortunately', nice one!

    no, no, not OKT buy. OKT rent from owner.
    Actually i got think of buying a unit, as the rental yield will be excellent!

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