Parc Imperial

[devilplate]

Yes, i agree.

On another note, i am considering converting the property to tenancy-in-common with my wife. The idea is to save on rental tax by allocating more of the rental income to my wife, who has a lower annual income than me. We are in a taxation bracket.
I started a new thread on this:
http://forums.condosingapore.com/sho...652#post101652

Would anyone advise if this is sound?

will involved some cost and legal fees...not worth it...how much tax can u save? not unless u took 50% loan and ur rental more den 5k...if not very insignificant savings

[stalingrad]

will involved some cost and legal fees...not worth it...how much tax can u save? not unless u took 50% loan and ur rental more den 5k...if not very insignificant savings

agreed. MM condo, MM rental income, MM rental tax, MM rental tax savings. why bother?

If one owns a big good class bungalow, then it would be interesting to talk about how to lower tax burdens.

[ParcImperial]

agreed. MM condo, MM rental income, MM rental tax, MM rental tax savings. why bother?

If one owns a big good class bungalow, then it would be interesting to talk about how to lower tax burdens.

Our dearest stalingrad,
Let's see what wisdom you are capable of. Picking up from your "big good class bungalow" scenario, how can the owner lower his taxation?
I look forward to your enlightenment.

[ParcImperial]

When can we get the keys? Will all the owners get the keys on the same day? If I use CPF to pay, will it take longer to process?
Thanks,
Richard
PS. I will shut down the site www.parcimperail.sg due to low traffic.

TOP was obtained on 12/7/2010.
Key collection can be done once all payments been made: 15% + 6mth maintenance fees + conveyance fee (~$400).
It can be as soon as next week. But for those who are not so cash rich and paying the 15% balance, the bottle neck would be the disbursement of the loan to the developer.

Owners should expect to receive a letter from their lawyers today/tomorrow!

[chestnut]

Yes, i agree.

On another note, i am considering converting the property to tenancy-in-common with my wife. The idea is to save on rental tax by allocating more of the rental income to my wife, who has a lower annual income than me. We are in a taxation bracket.
I started a new thread on this:
http://forums.condosingapore.com/sho...652#post101652

Would anyone advise if this is sound?

If you are in the 20% bracket. Assumption : net 20k pa rental (after deducting interest, etc...)

In joint- 50/50 , you will pay additional 10kx20% = 2k on tax

In tenancy in common - assume 20/80. your rental will be 20% of 20k = 4k.
you pay 4kx20% = 0.8k.

Savings of 1.2k. you will then need to compute your wifey's tax and finally you will know if your tax savings substantiate this move.

The only tricky part here is in the event of divorce- she gets 80%(assumption of 80%- up to you to allocate via lawyer) of the property.

So do your calculations well.

[ParcImperial]

If you are in the 20% bracket. Assumption : net 20k pa rental (after deducting interest, etc...)

In joint- 50/50 , you will pay additional 10kx20% = 2k on tax

In tenancy in common - assume 20/80. your rental will be 20% of 20k = 4k. you pay 4kx20% = 0.8k.
Savings of 1.2k. you will then need to compute your wifey's tax and finally you will know if your tax savings substantiate this move.
The only tricky part here is in the event of divorce- she gets 80%(assumption of 80%- up to you to allocate via lawyer) of the property.

So do your calculations well.

Thank you, chestnut!

So, can i say that other than the legal complications, tenancy-in-common does help some savings (although the sigficance of it varies to different ppl)? And the computations are as straightforward as you have illustrated above?
Am thinking of the bigger savings if my wife stops working.

[chestnut]

Thank you, chestnut!

So, can i say that other than the legal complications, tenancy-in-common does help some savings (although the sigficance of it varies to different ppl)? And the computations are as straightforward as you have illustrated above?
Am thinking of the bigger savings if my wife stops working.

Yup. There is definitely savings involved. Depends on your tax bracket. Wifey's can claim a lot of stuff - kids, maid, etc.. So wifey's taxable income tends to be a lot lower. Can you imagine 30k (50/50) of rent and paying 20% tax equates to 6k of tax. But you really need to do your computations and also see if the legal charges are worth it. CPF housing payment not affected. Hope this helps.

[stalingrad]

No way to make money out of these MM units. Read this article:
http://www.h88.com.sg/article/Mousey...ll+a+hit+here/

[devilplate]

No way to make money out of these MM units. Read this article:
http://www.h88.com.sg/article/Mousey...ll+a+hit+here/

depend on location...some MM unit fetching 2.5k...but those r slightly bigger ard 450-500sqft

those below 400sqft ones mabe 1.8k

[cashrich]

for those 1st owners who loved PI especially after receiving the keys...dun sell bcoz u will nvr ever buy back at ur original price. even at 700k, profit less den 200k...

at 500k, 2k rental is sufficient, dun worry

That's right... there's always a critical point. If you pass the critical point, don't sell and it will be a sure winner. The longer you hold, the bigger the win.

If you need cash, do it early when the cash outlay is low and the cash returns higher. very good point!

[ParcImperial]

depend on location...some MM unit fetching 2.5k...but those r slightly bigger ard 450-500sqft

those below 400sqft ones mabe 1.8k

I have already received an offer for my Parc Imperial unit at $2.4k per mth.
I have not accepted the offer as it is slightly below my target. Since i have not collected the keys yet, i can affored to wait for other offers for another 1-2 weeks

I should add that my unit is smaller than 450 sqft.

[mcmlxxvi]

I have already received an offer for my Parc Imperial unit at $2.4k per mth.
I have not accepted the offer as it is slightly below my target. Since i have not collected the keys yet, i can affored to wait for other offers for another 1-2 weeks

I should add that my unit is smaller than 450 sqft.

WELL DONE up up up and away for MM units yield!

[cashrich]

I have already received an offer for my Parc Imperial unit at $2.4k per mth.
I have not accepted the offer as it is slightly below my target. Since i have not collected the keys yet, i can affored to wait for other offers for another 1-2 weeks

I should add that my unit is smaller than 450 sqft.

ParcImperial Singing praises for ParcImperial. What the Fark!

Might as well say I have ready tenants pitching tents at park waiting to rent my less than 500 sqf at $5k a month.

Be more creative with your nick!

[cashrich]

There is no such thing as "never". If there is a big property market crash, the price can easily drop below the original price (S$1200 psf). It could be as low as S$1000 psf. If you feel like to sell it, just do it.

I am still holding it because I work in Science Park, and my son might get into NUS. But if the market starts to drop, I am open to sell.

Thanks,
Richard

only correct in the sense that all other properties in Singapore would also fall too.

If that is the case, Singapore must be at a state of war or something really bad has happened. The worst case scenario is not a likely scenario. Even if that happens, whe you have holding power, you live another day to see its next peak again.

Inflation and lack of resources will push up property prices no matter what. When there's a crash, it is propertism's natural behaviour to eat up those who are weak in their holding power. The rule of "Survival of the fittest". If you are sick or weak, no need major market crash, you will die on your own.

[jlrx]

only correct in the sense that all other properties in Singapore would also fall too.

If that is the case, Singapore must be at a state of war or something really bad has happened. The worst case scenario is not a likely scenario. Even if that happens, whe you have holding power, you live another day to see its next peak again.

Inflation and lack of resources will push up property prices no matter what. When there's a crash, it is propertism's natural behaviour to eat up those who are weak in their holding power. The rule of "Survival of the fittest". If you are sick or weak, no need major market crash, you will die on your own.

PROPERTISM!!!

All Great Religions suffer persecution. The greater the religion, the greater the degree of persecution suffered by its believers.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

Anyone who needs inspiration from the Great PROPERTISM religion, especially those who keep quoting Bishan 8, Duchess Residences and Japan Real Estate can take heart from the most unlucky property buyer in Singapore's history.

18 January 08 The Strait Times
by Radha Basu

This grande dame is ready to shine again



A COLONIAL-ERA mansion in Cairnhill Road has emerged from a makeover, ready for the next chapter of its history.

Four years and $3 million in renovations have turned the Tan Chin Tuan Mansion into a venue for the charitable Tan Chin Tuan Foundation to host events for its partners and beneficiaries.

The works have added, atop the old house, a 20-storey condominium, the design for which was conceived by the late banker and philanthropist.

The renovations have been completed on time to mark the centenary of the birth of the former OCBC Bank chairman, who died in 2005. The house itself, the family home, fuses colonial architecture and Peranakan influences. The Straits Times was given a preview of the place, now a treasure trove of artefacts linked to Mr Tan's life.

In the chandeliered living-cum-dining room on the ground floor, a 12-seater dining table holds pride of place. It was where he entertained former presidents Benjamin Sheares, Ong Teng Cheong and Wee Kim Wee.

The walls in the house are adorned with photographs and memorabilia, including his marriage certificate dated 1926 and a yellowed newspaper clipping announcing his marriage to Helene Wee. More recent artefacts include a hard hat he wore to supervise the construction of the OCBC Centre and his Order of the British Empire medal.

Upstairs, his wooden desk sits in an alcove, and on it are a decades-old magnifying glass, an ornate paperweight and a 1926 edition of Webster's dictionary. His handwritten diaries have also been preserved.

The restoration has been a labour of love for the family, said Ms Chew Gek Khim, 46, one of the granddaughters who oversaw the project.

Built in the 1920s as the home of entrepreneur and philanthropist Tan Kah Kee, the house was bought by Mr Tan Chin Tuan just before World War II broke out in 1939.

When Mr Tan and his family were forced overseas during the Japanese Occupation, the house was taken over by Japanese generals. They gave away all the furniture in the three years they were there from 1942. By the time they left the house, vanquished in the war, all that was left was a wooden chair, now on display.



The entire project to a large extent reflects Mr Tan's 'philosophy of life', in that while history always has a place, it cannot hinder progress, explained Ms Chew, who is also deputy chairman of the foundation.

Asked for his reaction to the mix of old and new in the look of the place, conservation activist Terence Hong acknowledged that many like him were initially apprehensive about whether the condo would mar the history of the place.

He said: 'In the end, the project turned out beautifully, marrying the old with the new and remaining useful and relevant at the same time.'

[bargain hunter]

i agree but the whole idea is must be careful of what to buy, doesn't mean buy anything also can.

PROPERTISM!!!

All Great Religions suffer persecution. The greater the religion, the greater the degree of persecution suffered by its believers.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

Anyone who needs inspiration from the Great PROPERTISM religion, especially those who keep quoting Bishan 8, Duchess Residences and Japan Real Estate can take heart from the most unlucky property buyer in Singapore's history.

[cashrich]

profound insight from bargain hunter, he is a hunter alright

What to buy =
1. price factor,
2. time factor,
3. quality factor,
4. potential gain factor,
5. developer facto
6. economy factor and
7. Buyer Factor to choose the best one for his needs.
All added up =
1. right project bought at the
2. right time at the
3. right price and the
4. right place by
5. right people sold by
6. right agents with
7. right law firm
Everything done right. Including selling if needed!

[stalingrad]

yes, one should be careful about what to buy. but with interest rates so low, every condo, however good or however bad, can find buyers. Even such lousy buys as parc imperial at such ridiculously high prices can find buyers and prices keep going higher.

This recovery has made singaporeans throw caution to the wind and start splurging again on condos. and many of them have made millions. so, where is the incentive to be prudent?

[cashrich]

yes, one should be careful about what to buy. but with interest rates so low, every condo, however good or however bad, can find buyers. Even such lousy buys as parc imperial at such ridiculously high prices can find buyers and prices keep going higher.

This recovery has made singaporeans throw caution to the wind and start splurging again on condos. and many of them have made millions. so, where is the incentive to be prudent?

Good advice. Something different from your usual criticims. Keep it going.. whee whee!

[plan]

I don't own Parc Imperial but I see that it is has many good points and not lousy at all. Those are the points I would value when buying property.

When coming to property buying - it's Location & location, amenities and freehold!
and Parc Imperial has it all!

Parc Imperial is just a stone throw (less than 1-2 min walk or about 50-100m!!) to the upcoming MRT (Haw Par station opening in early 2011) and it is a underground station in a quiet neighborhood, and just 2 stops to VivoCity .
Across the road is the Yves Center with all the amenities and restaurants.
And it's Freehold!

[ParcImperial]

ParcImperial Singing praises for ParcImperial. What the Fark!

Might as well say I have ready tenants pitching tents at park waiting to rent my less than 500 sqf at $5k a month.

Be more creative with your nick!

Stay cool, cashrich ...

I was merely stating a fact regarding the tenant's offer.
Personally, i value diversity. It's perfectly ok that we hold polarising opinions. We do have to be mindful the difference between opinions and facts.

I should add that i am glad that my nick is getting someone's attention...

[ParcImperial]

I don't own Parc Imperial but I see that it is has many good points and not lousy at all. Those are the points I would value when buying property.

When coming to property buying - it's Location & location, amenities and freehold!
and Parc Imperial has it all!

Parc Imperial is just a stone throw (less than 1-2 min walk or about 50-100m!!) to the upcoming MRT (Haw Par station opening in early 2011) and it is a underground station in a quiet neighborhood, and just 2 stops to VivoCity .
Across the road is the Yves Center with all the amenities and restaurants.
And it's Freehold!

The pity part is that they are re-developing the Village Centre... It will be pulled down and rebuilt as a condominium with shop spaces on the first floor and in its basement.

[devilplate]

I don't own Parc Imperial but I see that it is has many good points and not lousy at all. Those are the points I would value when buying property.

When coming to property buying - it's Location & location, amenities and freehold!
and Parc Imperial has it all!

Parc Imperial is just a stone throw (less than 1-2 min walk or about 50-100m!!) to the upcoming MRT (Haw Par station opening in early 2011) and it is a underground station in a quiet neighborhood, and just 2 stops to VivoCity .
Across the road is the Yves Center with all the amenities and restaurants.
And it's Freehold!

actually tat area dun hf much amenities lah...

but city fringe location+FH+near MRT=not bad liao. the only problem is all MM units within the development. but statistics had shown tat MM+MRT=good rental yield....do actual groundwork which i did....dun just merely listen to hearsays. some say too many MM units TOP in future...rent to who....well future is always unpredictable

but i still prefer 500sqft 1bedder with proper bedroom....cant really accept 3xxsqft studios....seems smaller den a hotel room

[rattydrama]

The pity part is that they are re-developing the Village Centre... It will be pulled down and rebuilt as a condominium with shop spaces on the first floor and in its basement.

Understand this new condo is of mixed development called VIVA VISTA @ Pasir Panjang. It comes with 134 units and shops at level 1, 5 sty development. Estimated sizes are from 1BR 388sq ft, 1BR+study 527sq ft and 2BR 689 to 990 sq ft. Prices are from $1300 psf to $1500 psf.

[gohsoonk]

This is really getting irrational. What kind of development only has units below 1000 sq ft? What's more at such prices...

Understand this new condo is of mixed development called VIVA VISTA @ Pasir Panjang. It comes with 134 units and shops at level 1, 5 sty development. Estimated sizes are from 1BR 388sq ft, 1BR+study 527sq ft and 2BR 689 to 990 sq ft. Prices are from $1300 psf to $1500 psf.

[proud owner]

This is really getting irrational. What kind of development only has units below 1000 sq ft? What's more at such prices...

developers are seeing alot of influx of singles ... and more and more young singaporeans are moving out of their parents' home to live alone .. ????

and they will stay Single forever ??

and when/if they do get married .. there arent many big units available ..

in 30 yrs all the MM condos will be enbloc to build mini-MM condos

thats Singapore in 2040

[jlrx]

developers are seeing alot of influx of singles ... and more and more young singaporeans are moving out of their parents' home to live alone .. ????

and they will stay Single forever ??

and when/if they do get married .. there arent many big units available ..

in 30 yrs all the MM condos will be enbloc to build mini-MM condos

thats Singapore in 2040

[rattydrama]

developers are seeing alot of influx of singles ... and more and more young singaporeans are moving out of their parents' home to live alone .. ????

and they will stay Single forever ??

and when/if they do get married .. there arent many big units available ..

in 30 yrs all the MM condos will be enbloc to build mini-MM condos

thats Singapore in 2040

I cannot imagine staying in MM unit of 388sq ft, so little living space. Are we promoting single-hood now? Is our gov going to step in and put a full stop of such tiny development? Is it liveable at all?

[proud owner]

I cannot imagine staying in MM unit of 388sq ft, so little living space. Are we promoting single-hood now? Is our gov going to step in and put a full stop of such tiny development? Is it liveable at all?

Icon at tanjong pagar ..when launched, was targetting the Pink dollars ...

it was quite a success ..

so what do you think ?

forget 3 tier generations .. forget Confucius teaching .. just learn the language ..

[rattydrama]

Icon at tanjong pagar ..when launched, was targetting the Pink dollars ...

it was quite a success ..

so what do you think ?

forget 3 tier generations .. forget Confucius teaching .. just learn the language ..

icon itself has got good facilities and views, this tinny is only 5sty. My fren got the 2BR at $900+psf for icon now renting 4.2K

the only plus point I can think of this is that there may not have many 388 sqft condos around this area so there might be demand but that remains to be seen how such small unit can sustain in a long run. I will be very sick to face the 4 walls every night.

If I buy would purely for investment and quickly sell once target profits met.

It is not really within walking distance from MRT as well.