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Thread: FH walkup apartments in D15

  1. #1
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    Default FH walkup apartments in D15

    Dear D15 experts,

    Anyone has experience in the resale prices of old walkup apartments in D15, Telok kurau & Katong. Age about 10yrs up, no lifts & not much facilities type.

    Wonder whats the fair price psf in current market?

    Thanks for sharing.


  2. #2
    Junior

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    I am also keen in such developments but unsure if its really worth the money comparing to those projects with full facilities. Can experts advise on the pros and cons for such walk up apartments? Especially on the area the threadstarter starts....I understand its along still road, near East shore hospital side...but also near to geylang and mounbatten road..which can be very congested?

  3. #3
    Just my 2 cent worth..

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    Quote Originally Posted by yowetan
    I am also keen in such developments but unsure if its really worth the money comparing to those projects with full facilities. Can experts advise on the pros and cons for such walk up apartments? Especially on the area the threadstarter starts....I understand its along still road, near East shore hospital side...but also near to geylang and mounbatten road..which can be very congested?
    check out st patrick ??, i think is st patrick garden. went there a few years back, seems quite a decent place.. price wise, is hard to tell.. old feehold condo with enbloc potential, has some speculative element.

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    Quote Originally Posted by Douk
    check out st patrick ??, i think is st patrick garden. went there a few years back, seems quite a decent place.. price wise, is hard to tell.. old feehold condo with enbloc potential, has some speculative element.
    However, with the many regulations coming up on en-bloc plus there are more supply than demand, I dun think there be many en-bloc unless that land is really that good. Also I believe st. patrick area can only build low level of housing, abt 5 storeys. Unless that apartment is sitting on a large piece of empty land, the developers are not going to earn much by doing en-bloc. So no point paying a premium for speculative element.

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    Actually I am looking for home stay but many agents keep saying enbloc potential etc etc.... But we all knows that enbloc fever has literally 'died' off in the current market situation and also some of these plots we looked at is already pretty maxed out... so unless the Plot ratio is revised by URA, I certainly dun see much 'potential' in such small apartment plots.

    Worse still is agents keeps pushing up the price above valuation (eg +$50k) & using the enbloc 'potential' as carrot to sell these units.

    I just wana be realistic & pay market value if such a unit comes along as to begin with, there is no facilities to enjoy and the risk of coughing up a high 'fee' to maintain the development should a major repair be needed, eg. Water tank leak, pipe burst etc etc.

    And yes... if I never observe wrongly... most of such apartments are built 'end to end' meaning not much land left for enhancing the Plot ratio.

    Keep the advice coming experts.
    Last edited by pod; 07-06-09 at 16:11.

  6. #6
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    Quote Originally Posted by pod
    Actually I am looking for home stay but many agents keep saying enbloc potential etc etc.... But we all knows that enbloc fever has literally 'died' off in the current market situation and also some of these plots we looked at is already pretty maxed out... so unless the Plot ratio is revised by URA, I certainly dun see much 'potential' in such small apartment plots.

    Worse still is agents keeps pushing up the price above valuation (eg +$50k) & using the enbloc 'potential' as carrot to sell these units.

    I just wana be realistic & pay market value if such a unit comes along as to begin with, there is no facilities to enjoy and the risk of coughing up a high 'fee' to maintain the development should a major repair be needed, eg. Water tank leak, pipe burst etc etc.

    And yes... if I never observe wrongly... most of such apartments are built 'end to end' meaning not much land left for enhancing the Plot ratio.

    Keep the advice coming experts.
    I not sure abt the price of these apartments. Maybe you can tell us how much you are quoted. E.g, Price and size of apartment and psf. I believed that definitely you cant buy at valuation nowadays as the valuation by bank are somehow much more conservative.

    As for agents mentioning en-bloc potential, maybe you can tell him that you are looking for non en-bloc potential apartment as you do not want to go through the hassle of protesting against en-bloc since it is for own stay. Ask them intro some apartments at market values with no en-bloc, speculative elements.

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    actually those really got en-bloc potential in D15 are those around 20++ 30++ years old....... 10 yrs old unit are still rather small in size.......and their price are only a little bit cheaper than those new projects

    those older units are at least 1500sqft and above......and r going for ard 600k++

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    U know smthg, when i mention that i only wanted for own stay... then suddenly the agent wil say.. "oh, no la... enbloc also wun be so fast.. nowadays developer also not keen... etc etc" 360deg change in sales pitch.. hahaha...

    Price range quoted? $650 psf to $699 psf range.... I think, pay $50psf+ more and u can consider brand new units...

    Anyway, I believe that there are still good agents around.. these days alot of such agents I met dunno wat they r selling, ask them many basic qns abt the ppty and they cant answer. Maybe so far I am unlucky ... alot of such agents duno how to followup..

    There was once when I was at a telok kurau launch for new unit... Agent told me $850psf for last few units "CHEAPEST IN TELOK KURAU LAUNCH".....

    Next thing u know.... saw in URA site... last few units sold at $100+psf discount...

    Wasted... shouldnt have take them seriously and should offer them ridiculous pricing also...

    So nowadays for new units buyers.. pls ka ka ask for discount....
    (BUT MAKE SURE U CAN AFFORD... DUN SUKA SUKA HUMPTUM) offer & acceptance applies hor...


    Ok back to old apartment discussion...

    Experts pls give ur opinions.





    Quote Originally Posted by wqmai
    I not sure abt the price of these apartments. Maybe you can tell us how much you are quoted. E.g, Price and size of apartment and psf. I believed that definitely you cant buy at valuation nowadays as the valuation by bank are somehow much more conservative.

    As for agents mentioning en-bloc potential, maybe you can tell him that you are looking for non en-bloc potential apartment as you do not want to go through the hassle of protesting against en-bloc since it is for own stay. Ask them intro some apartments at market values with no en-bloc, speculative elements.

  9. #9
    Just my 2 cent worth..

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    actually, why dont just target for the new apartment instead of the old walk up. The price in term of psf is unlike to have any kind of huge discount at current market, everyone can choose to believe enbloc is a dying phenomenon, but i think the owners will not think so unless they are desperate to sell or maybe few years of property downtrend to kill off their thoughts.

    BTW, what is your motivation to target the old walk up ?


    Quote Originally Posted by pod
    U know smthg, when i mention that i only wanted for own stay... then suddenly the agent wil say.. "oh, no la... enbloc also wun be so fast.. nowadays developer also not keen... etc etc" 360deg change in sales pitch.. hahaha...

    Price range quoted? $650 psf to $699 psf range.... I think, pay $50psf+ more and u can consider brand new units...

    Anyway, I believe that there are still good agents around.. these days alot of such agents I met dunno wat they r selling, ask them many basic qns abt the ppty and they cant answer. Maybe so far I am unlucky ... alot of such agents duno how to followup..

    There was once when I was at a telok kurau launch for new unit... Agent told me $850psf for last few units "CHEAPEST IN TELOK KURAU LAUNCH".....

    Next thing u know.... saw in URA site... last few units sold at $100+psf discount...

    Wasted... shouldnt have take them seriously and should offer them ridiculous pricing also...

    So nowadays for new units buyers.. pls ka ka ask for discount....
    (BUT MAKE SURE U CAN AFFORD... DUN SUKA SUKA HUMPTUM) offer & acceptance applies hor...


    Ok back to old apartment discussion...

    Experts pls give ur opinions.

  10. #10
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    Hi Douk,

    Partly budget issue and 2ndly, I like a simple loft. If I wanted facilities and with a beefed up budget, I would have chosen a condo instead.

    regards


  11. #11
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    Quote Originally Posted by shingirl
    actually those really got en-bloc potential in D15 are those around 20++ 30++ years old....... 10 yrs old unit are still rather small in size.......and their price are only a little bit cheaper than those new projects

    those older units are at least 1500sqft and above......and r going for ard 600k++
    any units to recommend me plssssssssssss....

    Feel free to PM me.... I got plenty of time after office hours to drive around the estates... hehe... I enjoy ppty hunting..

  12. #12
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    Saw one unit advertised along east coast road. Name is EAST GROVE.

    Any guys seen such 'old' walkup apartments? I think about 35yrs old. Wonder if it is worth buying for own stay. asking $650++psf. Am worried if i buy n stay then 5yrs later wana sell nobody wans!

    Asked a few banks, most of them value them lower then asking price.

    Any comments for such old apartments? Zero facilities & no lifts fyi.

  13. #13
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    Quote Originally Posted by pod
    Saw one unit advertised along east coast road. Name is EAST GROVE.

    Any guys seen such 'old' walkup apartments? I think about 35yrs old. Wonder if it is worth buying for own stay. asking $650++psf. Am worried if i buy n stay then 5yrs later wana sell nobody wans!

    Asked a few banks, most of them value them lower then asking price.

    Any comments for such old apartments? Zero facilities & no lifts fyi.
    What the size of the apartment for 650++psf?
    The valuation is lower by how much?
    If 10k to 20k, I believed it alright as nowadays for condo or apartment, dun think you are able to buy at valuation. Only HDB can.

  14. #14
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    Default Walk Up D15

    I stay in one of these.
    I reckon it's value for money if you like the quiet feel and don't need too much facilities. Monthly maintence cost is also lower.

    If you want something fancy - splash the money on interior deco.

    Bedrooms are hugh. My master room can fit a King's, computer, full wardrobe set, TV, mini-compo and still have lots of space.

    Not for the merry-makers though.

  15. #15
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    Quote Originally Posted by gn108
    I stay in one of these.
    I reckon it's value for money if you like the quiet feel and don't need too much facilities. Monthly maintence cost is also lower.

    If you want something fancy - splash the money on interior deco.

    Bedrooms are hugh. My master room can fit a King's, computer, full wardrobe set, TV, mini-compo and still have lots of space.

    Not for the merry-makers though.
    Hi,

    U mean u stay in East grove? Hows the development? mostly tenanted?

    regards


  16. #16
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    Sorry I don't stay or know the interior of this development.
    It's old and I reckon not too many tenants.

    I just meant old apartments (>20 years) have those features.
    Eg Ocean Park, East Lagoon, and the smaller ones along Upper East Coast Road eg Rich East etc. Alot of these have gone en bloc in the last run but there are still a few development left.

  17. #17
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    I think when one buys old walkups it is not for capital gain (barring en-bloc) but either for own stay or better rental yield.

    If you're looking for capital gain years down the road then get a small unit from developer in the city. These usually appreciate more significantly than old apartments over the years.

    Quote Originally Posted by pod
    Saw one unit advertised along east coast road. Name is EAST GROVE.

    Any guys seen such 'old' walkup apartments? I think about 35yrs old. Wonder if it is worth buying for own stay. asking $650++psf. Am worried if i buy n stay then 5yrs later wana sell nobody wans!

    Asked a few banks, most of them value them lower then asking price.

    Any comments for such old apartments? Zero facilities & no lifts fyi.

  18. #18
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    Check this out. Along Tanjong Katong Road. Asking $1m!!! Size is 165 sqm.
    Attached Images Attached Images

  19. #19
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    Hi Passivity,

    Care to reveal the name of this development?

    Looks nice, my kind of home..

  20. #20
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    Quote Originally Posted by tkc2263
    Hi Passivity,

    Care to reveal the name of this development?

    Looks nice, my kind of home..
    Beware that anything in the East that has a city view means it is West facing and full afternoon sun, don't get taken in by the city views.

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