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jackjames
    05-Jul-2009 19:28  
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Property update 003 - (The most expensive condo at WEST- The Jade)

The most expensive condo at the WEST is actually The Jade, located at Bukit Batok. This is the only condo at the WEST that fetch many units above $1 million dollars mark. Why?

There are 8 units sold at ridiculous price of over $1 million dollars at the WEST ! And look at the previous owner, how much they earn throughout the sales proceed. I have blocked out the unit number. There was one unit sold at $1.3 millions on June 18, 2008, and they bought the unit at $790K on April 25, 2005. That is a beautiful $501,000 profits by holding the property for just 3 years !

Of course, there is one super huge penthouse 3886 square feet, only sold at $1.4 millions in January 2006, I wonder how much people will offer to purchase this unit now... Would the price go back to year 2005?

If you wonder why the Jade price was supported well is all because of the HDB block 620-625, this 5 blocks of HDB super high end price supported well the Jade price.

4 rooms flat , 90 sqm, hitting $497,000 , the second highest 4 rooms flat price after Clementi.

620  Bt Batok Ctrl 06 to 10 90 2003 $433,000.00 May-09
Model A
622  Bt Batok Ctrl 06 to 10 90 2003 $465,000.00 May-09
Model A
625  Bt Batok Ctrl 01 to 05 103 1997 $415,000.00 May-09
Model A
620  Bt Batok Ctrl 21 to 25 90 2003 $472,000.00 Feb-09
Model A
625  Bt Batok Ctrl 06 to 10 101 1997 $430,000.00 Feb-09
Model A
625  Bt Batok Ctrl 01 to 05 103 1997 $422,000.00 Feb-09
Model A
622  Bt Batok Ctrl 26 to 30 90 2003 $497,000.00 Jan-09


So far, Clementi comes to the top, Bukit Batok second and Toh Guan at the third.. you bet, the price of new condo launched near the Jurong East MRT price would be.. It would be similar case like the Jade, prices would be supported by Toh Guan HDB price.....

When the condo will be launched?
 
 
jackjames
    28-Jun-2009 22:06  
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I now focus on Singapore property, else the topic will be "never-ending"...

But to just "briefly" answer your question, southern part of Malaysia property were "cooked" by Singaporean, there is one condo near the city square JB, condos are selling at RM 900K... the buyers are mostly Singaporean, even the Tuas second link further up the JB area, those landed housing, are priced about RM 500K.. which attracts many Singaporean... You may want to check on Malaysia second Home policy...

My understanding of Malaysia hot property market is over, orchard area = KLCC area, the condo price is already rocket high at RM 4 millions easily... even the Mont Kiara condo, but what I heard last 2 weeks, the first phase of Mount kiara condo is 40% vacant, no takers for tenancy... you can see how bad for the subsequent condo leasing at Mont Kiara... there was a period that market is turning to Penang state area whereby governement is considering to turn Penang into a commercial hub like suntec city in Singapore..

Probably people has much better experience and views on other countries, like Japan, Tokyo, I remembered clearly that when SGD 1 = JPY 79++, there were singapore company buying japanese office building at dirt cheap price due to the currency exchange rate.... Not to mention, we all miss another 20% paper profit at Australia property... There are tens of thousands of Singaporean sent their kids to further studies in Australia, we all know there is a time when SGD 1 = AUS 1.06++ , I am sure there are rich Singaporean started to pump money into Australia property , that is instant 23% discount in just exchange rates ! But again, if they purchased some property before November 2008, they also experienced property "huge paper depreciation"... even though now it is rebouding ....

so much for other countries property... shall we back to Singapore? it is more interesting and easy to monitor while you exposed to Singapore news everyday..



cathylmg      ( Date: 28-Jun-2009 21:25) Posted:

Since you are talking about properties. I wonder whether it is time to take a look at the Malaysia property market. More affordable and room from appreciation?

 
 
cathylmg
    28-Jun-2009 21:25  
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Since you are talking about properties. I wonder whether it is time to take a look at the Malaysia property market. More affordable and room from appreciation?
 

 
jackjames
    28-Jun-2009 20:51  
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Property Update - 002 (King of the West , Number 1 = Clementi )

No doubts, the King of the West goes to Clementi. I wonder why people willing to pay $543,000 for a 90sqm flat ! The owner must be laughing all the way to the bank!

Why year 2006 flat can be sold at the resale market? I thought at least 5 years of occupacy?

Will you pay $543,000 for a 4 rooms flat ? I would rather buy a private condo, hee :)

But strange thing, how come only 3 transaction done for 5 rooms flat for the whole 12 months ????  highest hit $640,000 .... are the rest of the 5 rooms owner waiting to let go at much higher price? you bet..

461  Clementi Ave 3 16 to 20 90 2006 $505,000.00 May-09
Model A
462  Clementi Ave 3 16 to 20 90 2006 $518,000.00 May-09
Model A
462  Clementi Ave 3 06 to 10 90 2006 $480,000.00 May-09
Model A
456  Clementi Ave 3 21 to 25 90 2002 $543,000.00 Apr-09
Model A
457  Clementi Ave 3 06 to 10 86 2002 $475,000.00 Apr-09
Model A
460  Clementi Ave 3 01 to 05 90 2002 $465,000.00 Apr-09
Model A
454  Clementi Ave 3 11 to 15 90 2002 $485,000.00 Mar-09
Model A
462  Clementi Ave 3 01 to 05 90 2006 $490,000.00 Mar-09
Model A
457  Clementi Ave 3 21 to 25 91 2002 $473,000.00 Feb-09
Model A
454  Clementi Ave 3 06 to 10 86 2002 $478,000.00 Dec-08
Model A
454  Clementi Ave 3 16 to 20 91 2002 $525,000.00 Nov-08
Model A
460  Clementi Ave 3 16 to 20 90 2002 $538,000.00 Nov-08
Model A
457  Clementi Ave 3 11 to 15 86 2002 $520,000.00 Sep-08
Model A
457  Clementi Ave 3 11 to 15 90 2002 $520,000.00 Sep-08
Model A
456  Clementi Ave 3 01 to 05 90 2002 $470,000.00 Aug-08
Model A
457  Clementi Ave 3 21 to 25 90 2002 $548,000.00 Jul-08
Model A
457  Clementi Ave 3 16 to 20 90 2002 $505,000.00 Jun-08
Model A


Check this out, someone just sold 5 rooms flat at $575K "only", because 5 rooms and EA price are dropping....... with $575K.. it is definitely a GOOD deal compared a 4 rooms flat price at the same estate..... 110 sqm is much bigger than 90 sqm ~

459  Clementi Ave 3 16 to 20 110 2002 $575,000.00 May-09
Improved
458  Clementi Ave 3 21 to 25 110 2002 $640,000.00 Sep-08
Improved
459  Clementi Ave 3 21 to 25 110 2002 $631,000.00 Jul-08
 
 
jackjames
    28-Jun-2009 20:48  
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HDB 4 rooms flat is always the most sought after flat type in Singapore, of course, if you are comfortable with your stable income, it is about the right time to upgrade to 5 rooms or Exe flat, why? their valuation should drop now with no cash over valuation...

As for me, I just sold my 5 rooms flat and will soon downgrade to 4 rooms flat, I have my own reasons, firstly, I sold my flat at record price at Jurong East in May, (you will see the transaction price at HDB website in the month of August, because HDB updates the transaction price 3 months later), all the transaction price you see now at HDB website are the sales of last 3 months -> http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp    and I subsequently bought a 4 rooms flat which is $5K below valuation ! stealing price, just opposite my current block, ha ... just because me and my wife love the estate here..

If you are interested to upgrade, I am happy to provide my professional advice and perhaps to land you a dream home, drop me a message, and we should start from there... 

 

 



wongmx6      ( Date: 25-Jun-2009 14:58) Posted:

hi jack, just need our advice, currently i'm living in HDB 4 room flat as i would like to upgrade to 5 or Exe Flat, Do you think this is a right time????

jackjames      ( Date: 23-Jun-2009 22:22) Posted:

The general guide line banker will use is... , your monthly payment of your loan amount should not greater than 40% of your monthly income.

If you earn $5K per month, your housing loan monthly payment should not exceed $2K .. of course if your wife earns another $5K, then, your max loan amount up to $4K.. that's the general guideline..

The best deal of the week is fix-rate for 3 years with 1.99% interest with no lock-in period.. with the condition minimum loan amount is $300K.



 
 
jackjames
    28-Jun-2009 20:37  
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yeah, just started as part time, still learning.... interesting field... but this is not my main rice bowl, :)

syrix11      ( Date: 24-Jun-2009 14:30) Posted:

JJ, u're in property line as well? Smiley

 

 
wongmx6
    25-Jun-2009 14:58  
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hi jack, just need our advice, currently i'm living in HDB 4 room flat as i would like to upgrade to 5 or Exe Flat, Do you think this is a right time????

jackjames      ( Date: 23-Jun-2009 22:22) Posted:

The general guide line banker will use is... , your monthly payment of your loan amount should not greater than 40% of your monthly income.

If you earn $5K per month, your housing loan monthly payment should not exceed $2K .. of course if your wife earns another $5K, then, your max loan amount up to $4K.. that's the general guideline..

The best deal of the week is fix-rate for 3 years with 1.99% interest with no lock-in period.. with the condition minimum loan amount is $300K.



syrix11      ( Date: 23-Jun-2009 09:41) Posted:

I would advice forumers here to sought advice from bankers, to get a clearer picture of the loan that you can get, and based on estimated property prices, what would be the potenital monthly installment & repayment period.


 
 
syrix11
    24-Jun-2009 17:11  
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private ppty can, hdb flat cannot, this is wat i understand from a banker...

niuyear      ( Date: 24-Jun-2009 16:01) Posted:



Can one use the fully-paid property to serve as mortgage against a bank loan if one is unable to provide pay-slip?

 
 
niuyear
    24-Jun-2009 16:01  
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Can one use the fully-paid property to serve as mortgage against a bank loan if one is unable to provide pay-slip?
 
 
syrix11
    24-Jun-2009 14:30  
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JJ, u're in property line as well? Smiley
 

 
jackjames
    23-Jun-2009 22:22  
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The general guide line banker will use is... , your monthly payment of your loan amount should not greater than 40% of your monthly income.

If you earn $5K per month, your housing loan monthly payment should not exceed $2K .. of course if your wife earns another $5K, then, your max loan amount up to $4K.. that's the general guideline..

The best deal of the week is fix-rate for 3 years with 1.99% interest with no lock-in period.. with the condition minimum loan amount is $300K.



syrix11      ( Date: 23-Jun-2009 09:41) Posted:

I would advice forumers here to sought advice from bankers, to get a clearer picture of the loan that you can get, and based on estimated property prices, what would be the potenital monthly installment & repayment period.

 
 
syrix11
    23-Jun-2009 09:41  
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I would advice forumers here to sought advice from bankers, to get a clearer picture of the loan that you can get, and based on estimated property prices, what would be the potenital monthly installment & repayment period.
 
 
niuyear
    22-Jun-2009 15:02  
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Since in this topic, we will think about bank loan.  Banks are very cautious when lending out money because of borrowers' creditibility , why not our government and banks adopt the following changes :

A)private property -

1) Upon buying  a house, the borrower could borrow 40% from 1st bank, and the other 40% from 2nd bank.  This 2nd Bank, if possible, a government-owned bank that offers a lower interest rate.  This will encourage more buying of property and its affordibility.

 

B) those with HDB and private property -

Upond buying hdb flats, borrower could borrow 40% from 1st bank and the remaining from HDB.

 

C)Those who own HDB or have not owned any property

The present rule applies - i..e borrower get loan directly from HDB 

 

Any comments are welcomed. Who knows you could be the genius whom government would consider your advice and adop your idea to better our people life here in singapore in this downturn?
 
 
jackjames
    20-Jun-2009 13:14  
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History high 4A flat transacted at Toh Guan (Jurong East area), hitting $418,000 , sold recently ~

288A
 Jurong East St 21 16 to 20 104 2000 $418,000.00 May-09
Model A
288D
 Jurong East St 21 21 to 25 104 2000 $418,000.00 Jun-09
Model A


As you can see, the price of 5I flat, high is achieved only in the year 2008.... 

288A  Jurong East St 21 11 to 15 124 2000 $503,888.00 Dec-08
Improved
111  Jurong East St 13 16 to 20 120 1981 $500,000.00 Oct-08
Improved
278  Toh Guan Rd 21 to 25 121 1998 $508,000.00 Oct-08
Improved
288A  Jurong East St 21 21 to 25 123 2000 $507,000.00 Jul-08
Improved
288D  Jurong East St 21 21 to 25 120 2000 $513,000.00 Jul-08
Improved


all details of transaction price can be obtained from http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp

 
 
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