The Scala - 99 years leasehold by Hong Leong Holdings

[sencha99]

I think so too. Cut me the crap that Serangoon Ave 3 is more "prestigious" than Ang Mo Kio. Look at the surroundings - HDB flats and more concrete. The condo design is so bland that in fact looks exactly like the HDB flats nearby.

Serangoon Ave 3 is not 'prestigious' but that plot of land around Scala is exclusive for private residential. Are you the least bit objective in comparing to surrounding HDB that are more than 10 years old? Really? So Springbloom looks like a kampong to you?

[cashrich]

i know the area, stay nearby at Ser Gdns, was down on sun with another friend - a neighbour who wanted to KPO. 5pm already, Agent say quickly give cheque b4 they close at 8pm, showflat not open for viewing. Deadline for cheque was 8pm so that can ballot on wed. Must give blank cheque.., sound really crazy. was quoted at ave. $1200 psf. Agent also don't know launch price on sun. 5mins after i drove off, Agent called my mobile asking me "how". Next morn, 7.30am, raining so heavy, so nice to sleep. Agent sms me, say he got approval to extend cheque deadline submission to 10am on monday. He say can come to my house to pick up. After considering, i replied, sorry, decided not to invest.

My reasons: ( personal - not to spoil pple who bought):

1. at $1150 ave - as stated in tis morn ST - very pricy for 99LH. Even have Aussie & American school, not many angmo will want to cramp into a 1-2 bedder. Most Angmo who already need to stay around the area are willing to get a big 3-4 bedder type or rent landed at ser gdns. My neighbr is Angmo with family. Hus & wife with 2 kids. I see many Angmo families now stay at ser gdns with kids.., some cycling to Aussie school. So for pple who think want to rent to Angmo...maybe possible but certainly not the 1-2 bedder type unless single Angmo - maybe teacher who come 1st before they families get here.

2. Have a cousin staying at " The Chuan" 2 bedder - last time bought at S$700psf, believe it is FH or 999 ..., confirm that although popular with angmo becos it is just beside the Aussie school, most Angmo with families won't cramp into a 2 bedder there. In the morning, Lor Chuan road is jammed...on the way to Braddell towards CTE.

3. Have an auntie - staying at Chuan Park, 99LH ...also 2 bedder...bought at $500k for 1173k sft apartment. Checked URA website, in June such unit transacted at S$900k, work out to be $700+psf.

Although old, but spacious, potential en-bloc type...30yrs already, Chuan Park condo is just beside MRT also, right at the junction. If want to invest and rent, believe Chuan Park give better yield.

4. Then you have FH condo Golden Hill Park Condo at Mei Hwan drive, actually it is just opposite Chuan Park Condo, years ago when launched i went to see, launch at S$700 psf. Check URA website in Jul 2010, transacted at S$1.068mil for 926 sft 2bedder, work out about $1154 psf. This one have side gate...just opposite MRT entrance at the traffic light junction. Convenient also. Just no covered linkway.

5. Therefore, give all the above thinking, i decided not to invest. For me, 99 yrs...in bullish market, best rental yield compared to FH, in term of crisis, 1st to plunge, be prepared to lose 30-40% and when mkt recover, flavour of investors changed already, may not recover to launch or pre-crisis price. This we have seen in 1997 crisis or last year.

For me, if have $1.5mil, instead of investing in a 4 bedder at Scala - only 99LH , 1270 sqft, i would rather scout of landed - 999 at Ser Gdns, just across the road, at lanes like Cardiff Grove, Colcester Drv, still have smaller units of land 1840sft type single story, build-in area of 1400sft...take $100k to do simple reno and enjoy. No need to pay parking lot or maintenance. Want facilities, join Serangoon Gardens country club (market is only abt $16k membership - now on wkend many angmo there as Term member), no need to pay condo maintenance.

Just some thoughts. For buyers who buy to stay, safer bet - UP or Down, no need to care so much. For Investors who want to rent, few condos next to Scala give better yields..., for investors who want to flip...- lock in fast when you see profits becos Singapore economy is good this year, am sure you can make some $$ before Dec...

Good Luck.

Bro... I like your post... very logical and well reasoned...

I wish the goodu's good luck also...

BTW, the Centro looks like a bargain now...

My Ball ur ball, never mind whose balls as long as it is a bigger ball... just hope that balls don't drop!

[2824]

But think Centrio still more expensive in relative terms because of bay windows and slightly less functional layout. Received FEO's email on Centro, so timely

I bet the take up rate for Centro will improve over the next few weeks after people realise it now looks reasonably priced when compared to Scale that sold like hot cakes.

[devilplate]

Centro at 1200psf +/- is a better buy than Scala. Unlike Scala it is located next to a MAIN MRT line and not a circle line. It is also located next to a shopping centre and not 1 station away.

Centro looks reasonbaly priced now.

another one who compare last yr pricing with this yr pricing...metropoliatan last time 800psf+ much better compared to scala too

[devilplate]

Rental at scala will be competitive just like Dakota R and WaterBank.

will be competitive just like citylights/southbank?

[cashrich]

I like the name ...scala

next time... it will be scar la when buyers are hurt... leave a nasty scar when burnt

[devilplate]

For me, if have $1.5mil, instead of investing in a 4 bedder at Scala - only 99LH , 1270 sqft, i would rather scout of landed - 999 at Ser Gdns, just across the road, at lanes like Cardiff Grove, Colcester Drv, still have smaller units of land 1840sft type single story, build-in area of 1400sft...take $100k to do simple reno and enjoy. No need to pay parking lot or maintenance. Want facilities, join Serangoon Gardens country club (market is only abt $16k membership - now on wkend many angmo there as Term member), no need to pay condo maintenance.

Good Luck.

can find anot? now those smaller landed asking psf damn high even for old single storey....and when u check hw much was last may-july prices...oredi big jump in prices...and when they ask low low psf and still no takers...everytime got so disappointed after i go down to view. pm me if u got gd lobang...tks in advance...i am quite keen in the landed for tat area as well

[devilplate]

wow.... price not cheap but still selling like hot cakes...

New benchmark for tat area rite ?

not shocking....but i nvr interested to buy a condo there....only the chuan in 2007 tempted me...

older 99 condos over there ard 850psf....999LH The chuan 1050psf but since few mths back all asking 1200psf++ and now even higher! haha
...i was hoping to get 10xxpsf for the chuan as i noe scala cfm launch from 1kpsf...but the sellers at the chuan arent stupid either

so priced from 1-1.2kpsf not surprising and shocking at all...since older 99LH oredi transacted 8xxpsf. always 20-30% premium

aiya...whenever there is a new project....everybody will say expensive one....always compared it with older resale nearby and say new project damn ex blah blah.. den when the sales response is gd....ppl will say wah lau...good luck to those buyers...herd mentality blah blah....if the project cannot sell well...see...overpriced blah blah....tok is cheap lah really

dun believe me, browse thru all other new launches thread and u will agree with me

next coming up new launches is wat??? i will bet the same thing will happen again...

ask urself one question: when did u ever come across a project tat is selling cheap and selling very close psf with the older condos nearby??? if so, the nearby older condo cfm goto drop price liao.....

even during recession....u go browse thru caspian/double bay....all say EXPENSIVE at tat time when they launched...of coz neighbouring older condo sure cheaper lah....haha

u tink the developer so stupid meh...under priced their pricing so tat everybody will find it CHEAP???? u wait long long

[azeoprop]

I think the minton is a better buy for self stay. Good facilities and more livable space in the apartments.

[devilplate]

But think Centrio still more expensive in relative terms because of bay windows and slightly less functional layout. Received FEO's email on Centro, so timely

i received their sms few days back...from 1.22mil for 2bedders...or all the smaller sizes r sold?

[devilplate]

I think the minton is a better buy for self stay. Good facilities and more livable space in the apartments.

but prices for 99LH without MRT very jialat when the project gets old unless it is located in a better location

minton got planter box/baywindows...if they dun hf both...minton gd buy at current psf

[wesing]

i received their sms few days back...from 1.22mil for 2bedders...or all the smaller sizes r sold?

Wow! 1.22million Probably for the higher floor units.

But that is about the price for the lower floor 2-bedders at 368 which is FH and nearer to town but about 800 meters from Novena MRT.

If someone actually buy centro, really wonder what is the main motivation What do they see good about this project to splash this kind of $ when there seems to be better deal elsewhere which is somemore nearer to town

[ocoloco79]

may I know where is the showflat venue? On actual site opp nyjc? thks.

[sencha99]

ask urself one question: when did u ever come across a project tat is selling cheap and selling very close psf with the older condos nearby??? if so, the nearby older condo cfm goto drop price liao.....

even during recession....u go browse thru caspian/double bay....all say EXPENSIVE at tat time when they launched...of coz neighbouring older condo sure cheaper lah....haha

u tink the developer so stupid meh...under priced their pricing so tat everybody will find it CHEAP???? u wait long long

I remember when Metropolitan launch, a lot of people complained expensive. Those who bought during launch and sold last year were all laughing their way to the bank. Those who did nothing probably are still sitting around complaining new launch expensive.

[isaaclim]

not just 1200-1400 psf for lor chuan ridiculous ..it is 99LH as well .. I AM A FH MAN


personally i wont pay for that location .. like i said i rather pay 1850 psf for river valley ...


what mistake i made in 2006 ? i saw a 3600 sqft unit FH condo .. the quantum frightened me off .. but i failed to see that the PSF was just slightly higher than marine parade HDB ..


while now looking at Scala .. 1100-1400 psf LH .. IF that is going to be the base psf for that area shouldnt the FH be a better deal ?

wouldnt 1700-2000 at D9/10 a better deal ?

If you buying property not for own stay but for investment, you shouldn't be bother by this LH vs. FH.

For investment, people just look at Location!

[devilplate]

If you buying property not for own stay but for investment, you shouldn't be bother by this LH vs. FH.

For investment, people just look at Location!

different perspective...some may wana leave their FREEHOLD landed/condos to next generation mah...actually very wishful...who noes wat happens after u DIE? i am sure ur kids or grandchildren will most likely sell ur FH ppty and enjoy the fruits....haha ...worse still, fight among themselves...$ is the root of evil remember?

to me, i am happy as long rental can cover the mthly installment even during downturn based on 60% and 30yrs tenure loan.....holding power is the KEY to ppty investment!!!

anyway gd la....during dowturn, cannot pay installment...bank auction lor or firesales....FREE FALL DURIANS!!!!!!!!!!!

if everyone so prudent....i eat grass liao

i tink it is also a common myth tat FH ppty drop lesser in terms of percentage den 99LH ppty during downturn....i disagree based on my own groundwork....tats the reason y many still stuck in the rat race....govt just nid to extend the retirement age lor

[cashrich]

may I know where is the showflat venue? On actual site opp nyjc? thks.

u want to buy another? make yourself feel better? anyway this is conclusive that LH is priced higher than FH because of MRT.

More demand for this than small boutique developments... that one waste time.

[ocoloco79]

u want to buy another? make yourself feel better? anyway this is conclusive that LH is priced higher than FH because of MRT.

More demand for this than small boutique developments... that one waste time.

Staying nearby so wanna drop by to kaypo, went to minton too. No la, for own stay, I still think I will choose primo over this if given a choice. FH and considered quite near MRT. Cheap too. A good forced savings for retirement.

[cashrich]

Staying nearby so wanna drop by to kaypo, went to minton too. No la, for own stay, I still think I will choose primo over this if given a choice. FH and considered quite near MRT. Cheap too. A good forced savings for retirement.

Oh.. play badminton....

I like the way u put it... FORCED SAVINGS FOR RETIREMENT...

hahahahahaha.... more like slave to it...

[devilplate]

Oh.. play badminton....

I like the way u put it... FORCED SAVINGS FOR RETIREMENT...

hahahahahaha.... more like slave to it...

but when my mthly installment is covered by the tenant and by the end of the 30yrs tenure...tat piece of FH ppty is solely mine!!! just pay 40% down+stamp fees...mabe spend abit every 5-10yrs to touch up the place...gd deal? i tink its a VERY GODAMMED GD DEAL

work hard for coy BUT work harder for urself!!!

make $$/tenant be ur slaves and not the other way round

[Wild Falcon]

Sorry. An address that read "Whatever Avenue 3" doesn't sound prestigious to me. In short, Serangoon Ave 3 doesn't sound more prestigious than Ang Mo Kio Ave 3 or Hougang Ave 3. Real presitigious address doesn't have an avenue number one. Haha. I know I'm being anal but really, the area doesn't look "prestigious" to me lah. The HDBs are pretty near u know. It's not exclusive to private for goodness sake.

Serangoon Ave 3 is not 'prestigious' but that plot of land around Scala is exclusive for private residential. Are you the least bit objective in comparing to surrounding HDB that are more than 10 years old? Really? So Springbloom looks like a kampong to you?

[cashrich]

but when my mthly installment is covered by the tenant and by the end of the 30yrs tenure...tat piece of FH ppty is solely mine!!! just pay 40% down+stamp fees...mabe spend abit every 5-10yrs to touch up the place...gd deal? i tink its a VERY GODAMMED GD DEAL

work hard for coy BUT work harder for urself!!!

make $$/tenant be ur slaves and not the other way round

yes, constructive comments...

I agree totally... 40% is a good figure... 50% is even better... stretch the loan to the max.... use rental to finance it while saving up a buffer to hedge against interest rate hikes... u get the picture? When you have other source of income... make a full redemption... super super strong holding power... u have a winner... it's a modified form of pension... just that u need a golden goose (house that is fully paid) and not a goose that needs to eat and shit... (monthly debt)

[Wild Falcon]

http://thescalalorchuan.com/wp-conte...sale-site1.jpg

If this is called "exclusive to private enclave". I am speechless Those blocks sure look like Serangoon HDB to me.

[DC33_2008]

will be competitive just like citylights/southbank?

Should be quite fierce competition if you look at the total no. of units. Total no. of units from Citylight and SB is far fewer than the total nos. from DR and WB. In fact qutie a no. of tenants from Citylight move over to SB upon expiration of tenancy contract.

[isaaclim]

but when my mthly installment is covered by the tenant and by the end of the 30yrs tenure...tat piece of FH ppty is solely mine!!! just pay 40% down+stamp fees...mabe spend abit every 5-10yrs to touch up the place...gd deal? i tink its a VERY GODAMMED GD DEAL

work hard for coy BUT work harder for urself!!!

make $$/tenant be ur slaves and not the other way round

When a condo that reach that kind of age, the maintenance cost is going to be scary... (If you tell me you have sinking fund, I can tell you it is not going to be enough). Furthermore, if you have a choice, will you choose to stay in a 30yrs old FH condo?

To me, if a person can effort to purchase multiple units, LH is no longer a concern.

[cashrich]

http://thescalalorchuan.com/wp-conte...sale-site1.jpg

If this is called "exclusive to private enclave". I am speechless Those blocks sure look like Serangoon HDB to me.

WEST SUN!

No

[cashrich]

<duplicated post deleted>

[Wild Falcon]

In all fairness, Caspian got people say not expensive lah. Just saw interview in the papers. Of 3 interviewees, 2 say want to buy as "investment" to rent out to the ang mohs because of "Nex" shopping mall. One is a PRC who says PRC has too much cash and don't know what to do so buy property to invest. In short, where are the owner occupiers?

I remember when Metropolitan launch, a lot of people complained expensive. Those who bought during launch and sold last year were all laughing their way to the bank. Those who did nothing probably are still sitting around complaining new launch expensive.

[isaaclim]

http://thescalalorchuan.com/wp-conte...sale-site1.jpg

If this is called "exclusive to private enclave". I am speechless Those blocks sure look like Serangoon HDB to me.

That mean you don't know what is at Lorong Chuan. If you have time, please go there have a look....

[cashrich]

When a condo that reach that kind of age, the maintenance cost is going to be scary... (If you tell me you have sinking fund, I can tell you it is not going to be enough). Furthermore, if you have a choice, will you choose to stay in a 30yrs old FH condo?

To me, if a person can effort to purchase multiple units, LH is no longer a concern.

very constructive comments... the first punch!

hahaha.... I agree with you... LH is not a concern at all~!!!!!