Parc Imperial

[stalingrad]

If we provide you the following, how much you'd like to pay for a studio per month?

1) Breakfast (with one different disk everyday);
2) Serviced room (morning cleaning and evening turn down service);
3) Laundry (50% discount compared with market rate);
4) Weekly outing (Malaysia trip, running, hill climbing, etc with 20% discount);
5) Car rental (20% discount since the train line will be ready one year later than the building);
6) Golf (20% discount at Maria Bay course);
7) NUS Club access (maybe);
8) 15% discount at any Pasir Panjang Village restaurant and Yes center.

Staying in a studio, you can still enjoy 6 star services. Singles or young couples may find a NEW studio more attractive than some of the OLD bigger space.

Once again, it is different market segment.

PS. I am happy to pay S$66 - S$130 per day for a full serviced studio. That is S$2k - S$4k.

poor IR workers makes very little money, they don't need any of these services. The rich ones don't want to suffocate in such a chicken coop. who can you rent your chicken coop to, I am wondering.

Besides these services don't come cheap for the owners. I have nothing to say other than "hare brain"

[xebay11]

Nothing to cheer for. it just doesn't make any sense to own such chicken coop units. the rich expats will not rent any of these tiny units. the poor ones cannot afford the rent you are charging. they can pay at most 1k or 1.5k per month. At such rates, the net rental yield (after maintenance fee) is very very low, less than 3%.

Don't cheer too early. things that appear to make little sense usually do.

You seem to have a grudge against ppl whose property appreciates or gives good yield (percieved or real).....I sense jealousy.

[PropertiesHunter]

You seem to have a grudge against ppl whose property appreciates or gives good yield (percieved or real).....I sense jealousy.

He always keep condemm other projects accept his cara*** the ugly duckling haha

[PropertiesHunter]

PI residents ready to get TOP soon in late April or May 2010

Price already shoot to 1500psf for MM units

[pearly]

PI residents ready to get TOP soon in late April or May 2010

Price already shoot to 1500psf for MM units

The most recent done:

253 Pasir Panjang Road #04-05 Freehold $1,401 398 $558k 11-Feb-10

253 Pasir Panjang Road #05-06 Freehold $1,467 409 $600k 19-Feb-10


and their corresponding transaction during launch

253 Pasir Panjang Road #04-05 Freehold $1,260 398 $501k 13-Jul-09

253 Pasir Panjang Road #05-06 Freehold $1,222 409 $500k 29-Jul-09

[richwang]

Just got the lawyer's letter and confirmed it will TOP in May/June.

Can I start to rent it now?

How much should I ask for? S$2k / month?

Thanks,

[mcmlxxvi]

Just got the lawyer's letter and confirmed it will TOP in May/June.

Can I start to rent it now?

How much should I ask for? S$2k / month?

Thanks,

What size is your unit? 398sf? Ask 3k lor...

[PropertiesHunter]

Shot pass 600k liao

05-16 studio is sold at 620k 3-4 weeks ago, 04-03 sold at 590k 2 weeks.

So I can sell my top flr studios above 650k upon TOP WITH SEAVIEW NO WEST SUN

[DC33_2008]

Shot pass 600k liao

05-16 studio is sold at 620k 3-4 weeks ago, 04-03 sold at 590k 2 weeks.

So I can sell my top flr studios above 650k upon TOP WITH SEAVIEW NO WEST SUN

What do you see besides the sea from this development? Are you able to see the refineries from here?

[victorchoo]

Shot pass 600k liao

05-16 studio is sold at 620k 3-4 weeks ago, 04-03 sold at 590k 2 weeks.

So I can sell my top flr studios above 650k upon TOP WITH SEAVIEW NO WEST SUN

what seaview u talking abt?? this is a 5-storey high project. Not a 50-storey project.

No west sun means got morning sun? unless your buyer is angmos who appreciate alfresco breakfast in the morning sun, else....

*PS: i'm not trying to play down your unit. but sometimes we need to do some reality check.

[richwang]

what seaview u talking abt?? this is a 5-storey high project. Not a 50-storey project.

No west sun means got morning sun? unless your buyer is angmos who appreciate alfresco breakfast in the morning sun, else....

*PS: i'm not trying to play down your unit. but sometimes we need to do some reality check.

I don't own the top unit. But yes, there is sea view for the top unit!
I went to the Pasir Panjang Hill - the empty land for FEO Horizon. It is almost the same height as Parc Imperial top unit. The sea view is very clear!
The refiners are too far to see. But the port heavy machines are in sight. I guess they will be shifted in 20 years time to Jurong Island. So that's not the concern.
I guess the sea view will eventually be blocked by the 99-year high raise buildings opposite the highway. Just look at Reflection, the Vision, or the whole 99-year at East Coast. I guess 20 years down the road, the landscape of West Coast will be high raise 99-year along the sea, and hopefully low raise along Pasir Panjang Road. Just my guess.
Thanks,

[DC33_2008]

I don't own the top unit. But yes, there is sea view for the top unit!
I went to the Pasir Panjang Hill - the empty land for FEO Horizon. It is almost the same height as Parc Imperial top unit. The sea view is very clear!
The refiners are too far to see. But the port heavy machines are in sight. I guess they will be shifted in 20 years time to Jurong Island. So that's not the concern.
I guess the sea view will eventually be blocked by the 99-year high raise buildings opposite the highway. Just look at Reflection, the Vision, or the whole 99-year at East Coast. I guess 20 years down the road, the landscape of West Coast will be high raise 99-year along the sea, and hopefully low raise along Pasir Panjang Road. Just my guess.
Thanks,

I am not sure if the port will move as the container port activity will increase as those from tanjong pager will be moved here. You may not be able to see the refinery, but the soot from the flaring will reach the land with the north easterly wind. Jurong island is not too far from here too. Do you know why all the chemical plant is moved to this island? Think again.

[richwang]

I am not sure if the port will move as the container port activity will increase as those from tanjong pager will be moved here. You may not be able to see the refinery, but the soot from the flaring will reach the land with the north easterly wind. Jurong island is not too far from here too. Do you know why all the chemical plant is moved to this island? Think again.

I am confused by the port move plan now. I thought Tanjong Pager will move to Jurong Island? So they are actually moving to Pasir Panjang?

Will the nuclear plant also be in Jurong Island? I hope that will indeed reduce the chemical.

Thanks,

[richwang]

Hi all,
After spending a few hundred dollars and days of work, the site is up for a couple of months now, but it is not active at all. So I will shutdown the site in 6 month's time.

http://parcimperial.sg/

Pls let me know if anyone has any objections. I won't have enough time to manage that site. I guess out source it to some It company will cost about S$1k per month.

Thanks,
Richard

[ParcImperial]

Just got the lawyer's letter and confirmed it will TOP in May/June.

Can I start to rent it now?

How much should I ask for? S$2k / month?

Thanks,

are u not setting rental at 6+ psf?

[Desperado1967]

I have an offer for my unit at $700k (482 sq ft). Wonder I should sell it.

Any advise?

[proud owner]

I have an offer for my unit at $700k (482 sq ft). Wonder I should sell it.

Any advise?

if you are not in need of cash .. keep and rent it if the rent can cover more than the mthly cost

if you think you can have better return elsewhere, sell and reinvest

if you have children who might go NUS in the near future ..then keep

if you are happy with the profit ..sell .. invest somewhere else


personally, i am not comfy living in a small unit ..so i assume i wont be able to get a good rental ..so i would sell ..take the money and invest in a bigger unit ..somehwre else

[Desperado1967]

if you are not in need of cash .. keep and rent it if the rent can cover more than the mthly cost

if you think you can have better return elsewhere, sell and reinvest

if you have children who might go NUS in the near future ..then keep

if you are happy with the profit ..sell .. invest somewhere else


personally, i am not comfy living in a small unit ..so i assume i wont be able to get a good rental ..so i would sell ..take the money and invest in a bigger unit ..somehwre else

The above were in my thoughts before I posted the earlier message. I was thinking to keep it for rent and sell it 20 years later for retirement funds .. But the profit of more than SGD100k made me think twice, hence, seeking advices from all gurus here. If I'm alone, I don't mind staying there. I have no children, so no consideration for nearby NUS. Invest somewhere else, well, we sell high and we buy high as well .. so back to square one ....

Sigh ...

[proud owner]

The above were in my thoughts before I posted the earlier message. I was thinking to keep it for rent and sell it 20 years later for retirement funds .. But the profit of more than SGD100k made me think twice, hence, seeking advices from all gurus here. If I'm alone, I don't mind staying there. I have no children, so no consideration for nearby NUS. Invest somewhere else, well, we sell high and we buy high as well .. so back to square one ....

Sigh ...

a quick search online on rental ..

Jubilee (PP area) 450 sqft asking 2.5k
One north 592 sqft asking 3.2k
Parc imperial various sizes asking ave 2.5k
vista park 760 sqft asking 2.2k


once TOP there will be many, apart from yourself , looking to rent out .. there will be a small fight there ..so you may undercut and end up renting out between 1.8-2.0k ..just to secure a rental ..

now will 1.8-2.0k cover your mortgage + maintenance ?

[Desperado1967]

What is the maintenance fees per month for Parc Imperial? Has it been confirmed? OMG! I was expecting up to SGD3k rental ...

[jwong71]

a quick search online on rental ..

Jubilee (PP area) 450 sqft asking 2.5k
One north 592 sqft asking 3.2k
Parc imperial various sizes asking ave 2.5k
vista park 760 sqft asking 2.2k


once TOP there will be many, apart from yourself , looking to rent out .. there will be a small fight there ..so you may undercut and end up renting out between 1.8-2.0k ..just to secure a rental ..

now will 1.8-2.0k cover your mortgage + maintenance ?

Previously my vista park 797sqft,rented at 2k to a japanese guy working as researcher in NUH...

[ParcImperial]

TOP expected in first week of Jun .

[richwang]

TOP expected in first week of Jun .

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.

[devilplate]

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

[richwang]

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

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

[richwang]

The project has just TOP. According to the document, the developer submitted the application in May, so it takes about 2 months for authorities to inspect. Maybe too many projects rushing for TOP.

By the way, the latest URA transaction shows S$1514 psf for a unit of 398 sqft. Total price paid was S$603K. For a rental yield of 4%, the monthly rental will be S$2k.

Thanks,
Richard

[devilplate]

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

for such MM sized units....quantum is so so low and how to drop below original cost...i can confidently say NVR....at most u can buy back at their breakeven prices.

if u haf been actively looking for firesale last yr jan to May...u will agree with me

many big sized units on firesale especially in those prime areas last yr....

[ParcImperial]

By the way, the latest URA transaction shows S$1514 psf for a unit of 398 sqft. Total price paid was S$603K. For a rental yield of 4%, the monthly rental will be S$2k.

Thanks,
Richard

I think the rental yield of 4% was oversimplified. One has to consider other incurred expenses e.g. rental tax, property tax and management fees. The rental tax can erode the nett yield quite significantly.

[devilplate]

for FH...above 3% nett yield consider not bad liao...

99LH nid to be above 4% nett yield

[ParcImperial]

for FH...above 3% nett yield consider not bad liao...

99LH nid to be above 4% nett yield

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?