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Thread: The Scala - 99 years leasehold by Hong Leong Holdings

  1. #241
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    Quote Originally Posted by 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.
    Nobody said it's prestigious in the first place unless you agent told you so. By exclusive I meant by predominantly private residential. Perhaps you stay in core district because other parts of Singapore, it is rare to find places not near HDB.

  2. #242
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    Noted lah. But then can't really say this is exclusive to private - that would be a misrepresentation because across the street is already all HDB flats already. If buy for own stay, happy can already but purely as investment would be quite high risk at this entry point. After all, it's 10 MRT stops away from Raffles Place leh. A lot of 99LH condo 10 MRT stations away from the core city center are only half the price.

    Quote Originally Posted by sencha99
    Nobody said it's prestigious in the first place unless you agent told you so. By exclusive I meant by predominantly private residential. Perhaps you stay in core district because other parts of Singapore, it is rare to find places not near HDB.

  3. #243
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    See the picture for goodness sake. A picture says a thousand words about the real location.

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

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    Quote Originally Posted by cashrich
    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!
    Bro, in times like this, sometimes need think logically. Agent i saw on sun just sms me : "Good Afternoon, just to inform you that Scala is selling like hot cakes, would you reconsider to come to our showflat? Give me a call".

    Guess Agent laughing all the way to the Bank and realise his account not fat enough to buy another unit for himself. Other day, he told he giving cheque for #06-26.

    Ya, last year when Centro launched, I was thinking wow Tomato land, 99LH also >$1k psf, sure or not, now come to think of it, Ah Chuan area now higher liao.


  5. #245
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    Quote Originally Posted by DC33_2008
    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.
    ooo...luckily my tenancy ends 1.5yrs later for my CL

    MBR very jialat also...everywhr also jialat....anyway just calculate rental yield based on lowest conservative figure....i even use 2500 per mth for my 1+study unit at CL...now having 1k+ extra pocket $ and treat it as a bonus ...tats how kiasu or kiasi i am

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    Quote Originally Posted by devilplate
    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

    Bro, i figure out, next time i retire or jobless, i become Property Agent, speciallise in place where i stay. Have seen some Agent grow and grow and monopolise same area until now they have downline to assist them. Must be laughing their way to the bank, maybe flipping also. At Ser Gdns, if you drive around, only handful of agents who handle probably 75% of all sales..many owners used them. I suppose once u show result, word of mouth from neighbours, etc.

    Landed scouting is frustrating, sometimes old, rundown, but if you are prepared to be patience, check with a contractor what A&A can be done if you dun want to tear down entirely, can find gem. For land like 1900sft or 2k sqft, if single storey build in will same, but still have decent 1300-1400 sqft, park 1 car, small side lawn and land title to call your own. No need to worry if upstairs neighbour's toilet leakage..., dropped marbles in the middle of the night, etc.

    just some thoughts.

  7. #247
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    Quote Originally Posted by Wild Falcon
    See the picture for goodness sake. A picture says a thousand words about the real location.
    Sorry, i may have misunderstand you. Do you know all those buildings in that picture are private condo?

    While we are chatting, someone in one of that "old" building maybe planning for another round of enblock due to the current selling price @ The Scala.

  8. #248
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    Quote Originally Posted by land118
    Bro, i figure out, next time i retire or jobless, i become Property Agent, speciallise in place where i stay. Have seen some Agent grow and grow and monopolise same area until now they have downline to assist them. Must be laughing their way to the bank, maybe flipping also. At Ser Gdns, if you drive around, only handful of agents who handle probably 75% of all sales..many owners used them. I suppose once u show result, word of mouth from neighbours, etc.

    Landed scouting is frustrating, sometimes old, rundown, but if you are prepared to be patience, check with a contractor what A&A can be done if you dun want to tear down entirely, can find gem. For land like 1900sft or 2k sqft, if single storey build in will same, but still have decent 1300-1400 sqft, park 1 car, small side lawn and land title to call your own. No need to worry if upstairs neighbour's toilet leakage..., dropped marbles in the middle of the night, etc.

    just some thoughts.
    u stay in srgn landed? cool man!

    haiz...cant find any gd landed lobang so far..those hot deal...always got fierce bidding! and i dun like to bid...like a big carrot...

  9. #249
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    Quote Originally Posted by isaaclim
    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.
    sorry, i read it twice and still cannot figure out wat u r trying to say???

    anything wrong with my strategy mentioned above? u mean we shd buy and keep flipping ppty when it gets old??

    by the way, i nvr say LH no good wor? i owned many LH condos...recently acquired ones mostly all 99LH...but for tat long term strategy to work...probably holding a FH ppty for 30yrs is better den a 99LH? agree?

  10. #250
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    I have the same strategy when I invest in property. Passive income after rental minus all the expenses is a must. Capital Gain+++ now and hopefully another few more ++ 2-5 years down the road.
    Quote Originally Posted by devilplate
    ooo...luckily my tenancy ends 1.5yrs later for my CL

    MBR very jialat also...everywhr also jialat....anyway just calculate rental yield based on lowest conservative figure....i even use 2500 per mth for my 1+study unit at CL...now having 1k+ extra pocket $ and treat it as a bonus ...tats how kiasu or kiasi i am

  11. #251
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    Quote Originally Posted by devilplate
    u stay in srgn landed? cool man!

    haiz...cant find any gd landed lobang so far..those hot deal...always got fierce bidding! and i dun like to bid...like a big carrot...
    Bro, last time buy cheap la. If now buy maybe cannot afford. Serangoon Gdns area; about 2k houses in this estate. so far from what i see around here, majority is 999 yrs, small land unit single storey old ( need to A&A ) going for about $650-$700 psf. Many smaller houses are 1840 or about 2k sqft type land area.

    Actually in this estate, majority of house in the lower range are of land area type:

    1. 1840 sqft
    2. 2200 sqft
    3. 2800 sqft

    House of these 3 types land area probably make up 75% of all houses in the estate. Think last time British, just cut the plots along the various land, and leave 1-2 house each lane with slightly bigger or smaller. Quite standard and organised..i must say.

    Last year during crisis time, 1840sft land area single storey, selling about $800k only, regret din buy another. Now same house, have to pay like $1.4mil - S$1.5mil. My neighbour down the road, his relative bought such a house, now laughing away...

    Actually, at 1 time, Foreign Workers Dorm was a BIG issue at an old secondary school at the fringe - next to CTE, protests and all, finally government build that $2mil slip road from AMK Ave 1, reduce no. of workers staying there to below 1k now, no ISSUE now, did not even see them in the estate. Think they quite poor thing, because the $2mil slip road is quite a walk from the AMK1 Ave 1. think at least 1km..., they can't enter into Serangoon Gdns estate directly beside landed houses. Kinda cordon off...

  12. #252
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    Quote Originally Posted by cashrich
    FH is really crappy when it is really old. Govt can take it back anytime, just built a road on it, through it etc will do and give u $1. They will not do it for obviouse reasons but they could if they want it. Same with LH too.. so why pay more for the same RISK?
    No more $1.

    Prime Minister already said a few years back that the Government will now pay fair market value for acquired land.

    The Land Acquisition Act, Chapter 152 of Singapore, gives the Government of Singapore the power to, among other things, acquire any land in Singapore:

    * for any public purpose;
    * where the acquisition is of public benefit or of public utility or in the public interest; or
    * for any residential, commercial or industrial purpose.

    The compensation to be awarded pursuant to any such compulsory acquisition would be based on, among other factors:

    (i) the market value of the property as at the date of the publication in the Government Gazette of the notification of the likely acquisition of the land (provided that within six months from the date of publication of such notification, a declaration of intention to acquire is made by publication in the Government Gazette); or

    (ii) the market value of the property as at the date of publication in the Government Gazette of the declaration of intention to acquire, where such declaration is made after six months of the notification.

  13. #253
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    Quote Originally Posted by land118
    Bro, last time buy cheap la. If now buy maybe cannot afford. Serangoon Gdns area; about 2k houses in this estate. so far from what i see around here, majority is 999 yrs, small land unit single storey old ( need to A&A ) going for about $650-$700 psf. Many smaller houses are 1840 or about 2k sqft type land area.

    Actually in this estate, majority of house in the lower range are of land area type:

    1. 1840 sqft
    2. 2200 sqft
    3. 2800 sqft

    House of these 3 types land area probably make up 75% of all houses in the estate. Think last time British, just cut the plots along the various land, and leave 1-2 house each lane with slightly bigger or smaller. Quite standard and organised..i must say.

    Last year during crisis time, 1840sft land area single storey, selling about $800k only, regret din buy another. Now same house, have to pay like $1.4mil - S$1.5mil. My neighbour down the road, his relative bought such a house, now laughing away...

    Actually, at 1 time, Foreign Workers Dorm was a BIG issue at an old secondary school at the fringe - next to CTE, protests and all, finally government build that $2mil slip road from AMK Ave 1, reduce no. of workers staying there to below 1k now, no ISSUE now, did not even see them in the estate. Think they quite poor thing, because the $2mil slip road is quite a walk from the AMK1 Ave 1. think at least 1km..., they can't enter into Serangoon Gdns estate directly beside landed houses. Kinda cordon off...
    wat am i doing last yr???? 800k become 1.5mil now....90% cap gain!!!! my max gain since last yr only ard 60-70%

    so now still can buy landed anot?

    i checked places like sembawang ...similar house last yr 800-900k...now 1.3-1.4mil...even sembawang up so much

  14. #254
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    The rise of the suburbs Most of us did see it coming, except didn't expect it to come so fast and furious...

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    Quote Originally Posted by devilplate
    wat am i doing last yr???? 800k become 1.5mil now....90% cap gain!!!! my max gain since last yr only ard 60-70%

    so now still can buy landed anot?

    i checked places like sembawang ...similar house last yr 800-900k...now 1.3-1.4mil...even sembawang up so much
    Bro, when u think 999 land on the ground in district 19 @$700 as per ura recent transactions. I am referring to single sty house purchase at serangoon gdns estate vs 99 yrs LH in the air @$1150 for Scala; u wonder why some din compare. Quantum maybe 1 reason, another could be landed only Singaporean can buy; PR if want to, have to apply for approval which may not be easy. My Singapore friend married PR Angmo, have family, kids study in local schools now bought a landed near my place, they got approval. So citizen do have some privillege. Government can't let Foreignesr buy up the limited land we have.

    Do your sums and be comfortable with what u can afford. I always think of downside. For upside, gains, no one bother-no pain; when come down-pain set in...depend on individual how much pain$ on downside u can afford, always remind yourself

    .

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    It was reported that most Scala's buyers/investors have HDB addresses - so maybe these are used to staying in the "air" than landed? Also, landed has its fair share of problems. Just look at those Serangoon Gardens inter-terrace at say "C Grove" or "B Drive" (I spend the first few years of my life there, so know the naming style), those 1800sqft single storey terrace in between 2 other houses with no windows or ventilation at the side. Only windows are at front porch and another at kitchen - tt's not exactly the best or ideal living environment and can be dark inside. And houses are really cramped together with small frontage - from afar looks like a slum sometimes. There are nice landed estates but Serangoon Gardens is probably not one of them - which probably explains the low PSF of the landed here ($650-700psf) compared to most other areas where landed are already close to 1000psf.

    And I always believe, what's the point of buying a landed without a garden or windows at the side? So in short, buy landed must at least buy a semi-D lah. Or else, really no point squeezing in those Serangoon Gardens type inter-terrace houses with no garden.

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    [QUOTE=Wild Falcon( I spend the first few years of my life there, so know the naming style), those 1800sqft single storey terrace in between 2 other houses with no windows or ventilation at the side. Only windows are at front porch and another at kitchen - tt's not exactly the best or ideal living environment and can be dark inside. And houses are really cramped together with small frontage - from afar looks like a slum sometimes. There are nice landed estates but Serangoon Gardens is probably not one of them - which probably explains the low PSF of the landed here ($650-700psf) compared to most other areas where landed are already close to 1000psf.

    And I always believe, what's the point of buying a landed without a garden or windows at the side? So in short, buy landed must at least buy a semi-D lah. Or else, really no point squeezing in those Serangoon Gardens type inter-terrace houses with no garden.[/QUOTE]

    What a way to describe the First Private estate in Singapore to be upgraded by Government as a "Slum". Certainly the most expensive slum globally that I know of. I don't mind living in my hut that can be sold for $2mil.

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    It is quite slum-like lah. Just drive in the "groves" and "drives" and u will know the condition of the houses there. Sometimes people don't ask themselves why buy landed? If your so-called landed house bedroom has no windows, is it a nice environment? If your so-called landed house has no garden and rooms have no windows, why bother? And why is the landed at Serangoon Gardens only 650-700psf while most other area including other suburbs are very close to 800-900psf? There is a reason for everything. That probably explains why the "Scala" can command a $1150 psf while those Serangoon Gardens windowless inter-terrace only transact at 700psf. Not forgetting those landed has no facilities, no views no gardens no windows, no ventilation. Just sharing another point of view.

    And I just think why bother with such slum-like windowless home? If buy landed, buy a real one which is a minumum semi detached. Those inter-terrace - don't waste time unless you're that desperate. Quality of life counts as well. A bedroom with no windows? No way.

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    Quote Originally Posted by Wild Falcon
    It is quite slum-like lah. Just drive in the "groves" and "drives" and u will know the condition of the houses there. Sometimes people don't ask themselves why buy landed? If your so-called landed house bedroom has no windows, is it a nice environment? If your so-called landed house has no garden and rooms have no windows, why bother? And why is the landed at Serangoon Gardens only 650-700psf while most other area including other suburbs are very close to 800-900psf? There is a reason for everything. That probably explains why the "Scala" can command a $1150 psf while those Serangoon Gardens windowless inter-terrace only transact at 700psf. Not forgetting those landed has no facilities, no views no gardens no windows, no ventilation. Just sharing another point of view.

    And I just think why bother with such slum-like windowless home? If buy landed, buy a real one which is a minumum semi detached. Those inter-terrace - don't waste time unless you're that desperate. Quality of life counts as well. A bedroom with no windows? No way.
    If I have enough cash I'll buy 3 or 4 units of adjoining ones, let them rot and wait....

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    Agree. Sometimes, I cannot stand those who live in landed and don't maintain their house. Makes the house looks like a slum. Some of these households even eat very simple meals every day. To me, cannot make it. If want to live in a nice landed house, one got to live the lifestyle. If cannot sustain, might as well choose something more appropriate. Everyone only lives once...enjoy...

    Quote Originally Posted by Wild Falcon
    It is quite slum-like lah. Just drive in the "groves" and "drives" and u will know the condition of the houses there. Sometimes people don't ask themselves why buy landed? If your so-called landed house bedroom has no windows, is it a nice environment? If your so-called landed house has no garden and rooms have no windows, why bother? And why is the landed at Serangoon Gardens only 650-700psf while most other area including other suburbs are very close to 800-900psf? There is a reason for everything. That probably explains why the "Scala" can command a $1150 psf while those Serangoon Gardens windowless inter-terrace only transact at 700psf. Not forgetting those landed has no facilities, no views no gardens no windows, no ventilation. Just sharing another point of view.

    And I just think why bother with such slum-like windowless home? If buy landed, buy a real one which is a minumum semi detached. Those inter-terrace - don't waste time unless you're that desperate. Quality of life counts as well. A bedroom with no windows? No way.

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    Quote Originally Posted by Komo
    If I have enough cash I'll buy 3 or 4 units of adjoining ones, let them rot and wait....
    Wow, everyday, i drive home from work pass this piece of land where it used to sit 3-4 terrace house along Cardiff Grove in serangoon gardens, probably 150m from Scala. Owner bought these 3 -4 house at 1 go, demolish the single storey house and literally letting empty land rot. Already 9mths, no action. Wonder if you are the owner. Congrats if you are, becos u probably make some 30% at least from the time u buy.

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    These people may have inherited the house from their parents. As they may not be well off, therefore they do not want to renovate the house.

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    Wow amazing results at 1400psf. Just curious, would Kovan Residences be a better buy? Same characteristics but near more amenities. Super large units. I know some people bought units at 650+psf last year. My Kovan Melody lagi better... Only 550-600psf at launch.

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    Quote Originally Posted by stanchan
    Wow amazing results at 1400psf. Just curious, would Kovan Residences be a better buy? Same characteristics but near more amenities. Super large units. I know some people bought units at 650+psf last year. My Kovan Melody lagi better... Only 550-600psf at launch.
    Wow, u huat liao.

    Kovan side, if buy to stay, seem better value for money, afterall also next to MRT. But Kovan side lack the Angmo factor - no Aussie/American school. Also CTE is right next door for Scala. Kovan side to connect to expressway, either go by the new KPE or need to drive to AMK to connect to CTE. Chuan side have New Tech Park - some tech offices there.

    All in all, abit different. Although Kovan side, not that cramped up and have heartland mall across road.

    Somehow if have Angmo factor, a little bit more premium maybe.

    Just some thoughts

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    wah, scala thread become so active. locality wise, serangoon, especially the lor chuan area is quite nice, there's a lot of nice landed in the area. and i guess the lack of new launches in the area probably created some pent up demand.

    but i'm not surprised people are looking at it as an investment. only the 2bedders are liveable. 2+1, 3, 3+1 and 4 are all too small for the number of rooms they are accomodating. so naturally you would expect see a small number of owner occupiers. they'll buy and stay in the nearby spacious HDB and rent out the scala.

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    latest subsale transacted for kovan residences:
    1A Kovan Road #15-06
    99 Yrs From 31/12/2007
    $1030
    893
    $920k
    06 Jul 10


    high flr 2bedder, 893sqft at 1030psf...920k

    over at scala:
    better stack 2bedder high flr ard 1150psf, 850sqft, ard 980k

    scala roughly around 10% higher den kovan residences now....

    both shd command similar psf for similar sizes....so, kovan residences stand a good chance to hit 1150psf upon TOP which is around early next yr.

    but buy now...just to make 10%...err...but existing owner to hold longer...yes

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    Quote Originally Posted by gohsoonk
    Agree. Sometimes, I cannot stand those who live in landed and don't maintain their house. Makes the house looks like a slum. Some of these households even eat very simple meals every day. To me, cannot make it. If want to live in a nice landed house, one got to live the lifestyle. If cannot sustain, might as well choose something more appropriate. Everyone only lives once...enjoy...
    Why people who stay in landed properties cannot eat "simple meals"?

    Even Ng Teng Fong ate $2 mee from Newton hawker centre.

    Mr Ng was a tycoon who guarded his privacy jealously, and never liked to have his picture taken. As he told The Straits Times in 1981: ‘I’m an ordinary working man. And I often take my $2 mee from the Newton hawker centre after work.'

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    Quote Originally Posted by devilplate
    latest subsale transacted for kovan residences:
    1A Kovan Road #15-06
    99 Yrs From 31/12/2007
    $1030
    893
    $920k
    06 Jul 10


    high flr 2bedder, 893sqft at 1030psf...920k

    over at scala:
    better stack 2bedder high flr ard 1150psf, 850sqft, ard 980k

    scala roughly around 10% higher den kovan residences now....

    both shd command similar psf for similar sizes....so, kovan residences stand a good chance to hit 1150psf upon TOP which is around early next yr.

    but buy now...just to make 10%...err...but existing owner to hold longer...yes
    scala deosn't have facing blocks that will have in your face, "neighbour's living room" view.

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    Quote Originally Posted by jlrx
    Why people who stay in landed properties cannot eat "simple meals"?

    Even Ng Teng Fong ate $2 mee from Newton hawker centre.

    Mr Ng was a tycoon who guarded his privacy jealously, and never liked to have his picture taken. As he told The Straits Times in 1981: ‘I’m an ordinary working man. And I often take my $2 mee from the Newton hawker centre after work.'
    Agree. Some they inherit, sentimental reasons, maybe cannot sell. Father to son or something. OK, to eat $2 chicken rice. If you go to Portchester Ave, 2nd house nearest to the old NTUC that has been torn down- being rebuilt to new mall now, there is a very old single storey house, long driveway, old man of 70+ live there still. From far, at night you can see maybe only a 14 04 21inch TV placed on an old table, no sofa, just normal chairs. For thsoe who live in the area, would have seen him collecting tin cans, cardboard from shops around chomp chomp, push them in his trolley back to his house. He is a Gurang Guni man. Believe he stay alone, not sure have children or wife. Always alone. I am sure for some good reason of his, he is not selling but staying put in same house that he probably stayed since the British build in 1950s.

    What will u say to such an old man, who still has the drive to work and perhaps very happy doing what he does. Never mind old landed, can't maintain, just cook rice and maybe soya sauce and ikan bilis...

    To each his own.

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    when the time comes...many 'related' members will suddenly appear

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