Senior
Not sure about that. It may be like vintage wine or stone yet to be unearthed and cut into precious diamond. At least based on land value and distance to raffles place and mrt stn, this has more upside than those 99LH developments.Originally Posted by Blue
Senior
Old houses might not be too bad after all. Just like toh tuck condo which got enbloc today. IMO, development that has good location and rare in the vicinity are some of the important criteria.One bamboo stick can sink the entire boat? Then by all means go buy all the old houses and try to sell them higher than new launches. There are some old houses with "ghosts" you can get cheaply for.
Newbie
Right, provided the en-bloc sale becomes successful and not ending up in law suits and neighbour disputes.
But how can you tell if a development will get en-bloc? It's like buying lottery and hope you strike the jackpot one day.
And you have to either stay there or rent out for the time being while waiting for en-bloc...how long can you live to see the dream happening?
Newbie
I agree on this point. I have seen many investor friends buying really old and run down units in projects with "tips" that it will be enbloc and end up holding long term and still waiting.
Senior
Enbloc is a bonus or like striking a lottery. IMO, it is first about capital gain and follow by rental yield for investor. Any advice.I agree on this point. I have seen many investor friends buying really old and run down units in projects with "tips" that it will be enbloc and end up holding long term and still waiting.
Newbie
Just buy for the long term hold. Disregard enblock rumours. If it is going to be enblocked, why would the owners want to sell? They might just hold and have that piece of pie themselves. Gimmicks always.I agree on this point. I have seen many investor friends buying really old and run down units in projects with "tips" that it will be enbloc and end up holding long term and still waiting.
The art of buying old and run down units is the ability to see beyond the short term horizon. Buy when no one want to buy and sell later when there is indeed enblock news or good news for that area, such as new shopping malls, new MRT lines, new universities, new town center, new hotel clusters etc... New and good amenities. Timing is critical to reap the maximum gain then.
Newbie
This is indeed prime time investment tips. I agree on this, I did just that with a development along meyer road. Let the new buyer figure out the enbloc.
There is more to buying property for investment than meets the eye. Keep the good sharing going.
Newbie
Yes yes. Capital gain.... Rental yield is a myth in sg. Unless you bought icon or citylights at 400k back in 06 and now renting at 3.5k.
Newbie
Also, when you buy a potential en-bloc development, you are entering in at current market prices which is probably 100% higher than the original price which the existing neighbours have paid.
If they all vote for en-bloc at 100% profit en-bloc selling price, what piece of pie can you get as the minority?
Junior
speaking of enbloc, i know of a family friend who bought 2 old, run down apartments smacked right in the middle of geylang, located in between the even and odd lorongs, hoping for an enbloc.
both apts were purchased at the peak, costing about $1m in all. currently, she has problems collecting rent from foreign talents who rented.
i agree with the view - never buy in speculation of en-bloc. doing that is just like gazing into the crystal ball. in this case, it's pure stupidity cos why on earth would any developer build a housing development deep in the heart of sleaze
Newbie
Correct. Generally speaking, new is better than old. Depreciation theory holds.
Actually, there are some old developments like Ardmore Park and others that are good and maintain resale value. The main reason is because the committee there damn on the ball. BTW, the monthly maintenance fees are pretty high.
One bamboo stick can sink the entire boat? Then by all means go buy all the old houses and try to sell them higher than new launches. There are some old houses with "ghosts" you can get cheaply for.
Senior
SOME 40 YEARS OLD HOUSES HAVE RISE MORE THAN FEW HUNDRED TIMES IN PRICES. HOW DO YOU VIEW THEM? HOUSE MIGHT BE OLD BUT THE LANDS BECOME MORE VALUABLE.
Junior
Booking public courts is a nightmare. Yes, I play tennis and my condo has tennis courts. If you do not play ball games, then so be it - just stating down facts for people to make informed decisions. Why do you have to be so defensive and ask people to stay in HDB flats? Is there something wrong with D15 people or what? You are the same guy who call people "pagans" in One Amber forum just because someone made a comment in another forum aout prices will resistance at $1500psf? And come to think of it, nothing wrong with being a pagan right? not everyone share the same religion as you - live and let live. But please no personal attacks.
I think you really love tennis court and parking lots.You should buy a HDB next to the sports complex. Lots of amble parking & sports facilities for you to use. No need to pay over $1000 psf to buy. Yio Chu Kang can liao.
Global recession is coming....
That COLOUR not human colour, and couldn't play tennis in his Boutique apartment (because where can you find a Boutique apartment with tennis court)? No choice lah, have to put down all other full facilities condos as useless since many units have to share olympic size swimming pool and tennis courts (because his boutique apartment "fortunately" (in his own view) do not have to crowd for the swimming pool and tennis court (because no tennis court and pool so small that can't really do serious swimming anyway).
Junior
In STOMP there are many people buy BMW 320 start being road bullies, park maciam they own the carpark, drive maciam their grandfather's road.
can afford to enter the bmw league well done and kudos to you, but dun have to drive until own the whole road rite? and look down on other makes?
coz above you are the 5, 7, M and many other series dey.
Newbie
The latest march caveats show a unit at parc seabreeze being sold for more than 1500psf.Let the gooD times roll.
Newbie
Thanks for the compliments. Just sharing my views only
The biggest secret of successful property investments is the ability to create the future. Simply said, it is whether you (as developer) and the government can work hand in hand with both interest at heart for the benefit of the country. Once that is sorted out... you can be the next FEO.
The small time investors just by tagging along the good developers would gain in their own way no matter how small the gain is. Those at the top of the chain are the biggest winners. That's a successful system for you.
Newbie
Location and inflation are 2 other variables that throws everything out of the window. Property prices are affected by multiple variables so it is too general to claim that old developments are priceless like vintage wine. It is really case to case.
Senior
That is why location is one of the very important criteria. Land prices appreciate faster in better location. View may disappear some day especially in singapore but location does not change with time.
Newbie
It has to. The original psf during launch was sold at $1300psf. It's merely a small profit taking for the first owner.
Junior
assuming the previous owner paid the minimum deposit of 20%, the sales would translate into a 80-90% returns. it's pretty good in my opinion
Newbie
Thats what make property speculations so lucrative and attractive. Pple just flock into the bubble without any real demand for houses. Whoever ends up at the peak will be the one who suffers. All the rest below exit and go to the bank laughing.
Junior
true, but at least the development is pretty well-located. even if don't rent out, can shift to reside in.
Newbie
Tats why when pple said the criterias to buy for investment and for stay are different, I beg to differ. Ultimately, it has to be liveable for stay otherwise ghosts will stay there.
Just like selling any product in any type of business, if you dun believe in your own product (i.e. you wouldn't want to stay there), how could you expect someone else will?
When market crashes, a lot of mickey mouse units will be on fire sale.
Newbie
This march transaction appear to be a developer sale; looking at the streetsine transactions (not sure if complete).It has to. The original psf during launch was sold at $1300psf. It's merely a small profit taking for the first owner.
Junior
if it's a developer's sale, then tiong aik must have raised prices using coralis as the benchmark
F01 N54 Sheer Driving Pleasure
$1,577 psf is definitely good start for Coralis!
Private Residential Units Sold in the Month of March 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Coralis ............ RCR ........ 69 ........................ 69 .......................... 1,577 ........... 1,469 ........... 1,363
Newbie
1577 psf for coralis?! That is indeed great news. Time to pop the champagne.
I guess that unit must be one of the high floor studios.
BTW, I remember some guru here mentioned that this project will never cross 1500 psf so better to buy D9,10?
Junior
their midfloor 3BR is already going at 1500psf before the official launch.
studio would cost more psf-wise and probably low floor i guess
Newbie
Those are not "gurus" but "goon doos"1577 psf for coralis?! That is indeed great news. Time to pop the champagne.
I guess that unit must be one of the high floor studios.
BTW, I remember some guru here mentioned that this project will never cross 1500 psf so better to buy D9,10?
Beware of the stalkers from Little India and Balestier. They just cannot accept the truth.
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