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hi elite,
i am lookin for a condo to buy & rent. From the map, it seems to be rather far from kembangan mrt station thou. But the rental yield is amazing but not too sure is it due to last year's gd sentiment. you have any other recommendation for ard $700-800K condo tat you might come across, FH ?
i would recommend buying gold now.. in such financial crisis.. i will prefer to hold gold cert or physical gold.. and investing some spot gold for trading..
no point putting my $$ in the bank to earn miserable interest.. avoid properties... it still high and properties tends to lag behind macros due to price stickiness.. we can start to see prop prices tumbling down when unemployment figures rises..
now, any properties u have can be sold for a profit better sell fast if not have to hold for another 5-7yrs before economy recovers.. unless u have the abilities to pay for the mthly and have spare cash set aside for emergency.
caveat emptor applies.. above r my views of the economy... i dun see any lights in front of the tunnel.. we jus abt to enter the tunnel.
Be careful of what they are going to build there. Check it up first before buying any property.
JJ,
Thanks. Very informative.
Anyone considering North? Seletar airbase will be for air-hub. Might create a buzz there?
North condo is still quite cheap. Also, one huge piece of Lentor is still unused. Not sure what gov will use it for. Last time, nearly used for Disney.
BTW, JJ, the condo you mentioned is indeed nice. However, few things are of concern to me. Worth to take a look perhaps. (a) Near airport/PIE (noise?) (b) Why still did not cheong esp last yr? (2) Maybe no good schools.
jackjames ( Date: 12-Sep-2008 14:56) Posted:
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aleoleo ( Date: 06-Oct-2008 19:37) Posted:
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http://www.youtube.com/watch?v=AuPgdZeAFjA
USD ?
Livermore ( Date: 13-Sep-2008 17:43) Posted:
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elfinchilde ( Date: 13-Sep-2008 15:53) Posted:
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Hi JJ,
Thanks a lot for sharing.It is useful.
where to put money. haha. elfin picks:
1) Property. I personally like Thailand. It's an underwatched market; smart money is going into it. Political trouble only gives potential for depressed prices to buy, and better potential rentals. Check out the sansiri group.
2) Forex. USD is set to appreciate to S$ to at least 1.45. If you'd locked in the low of 1.32, you're on profit already. (leaving aside forex trading).
I came accross this info from the newspaper a few weeks ago.
My initial impresssion is that the bank (after checking and cross checking) will advance u the initial deposit.U pay nothing until TOP.
The developer will pay the monthly interest only to the bank.When TOP is issued,u will take over the monthly payment from then on.
I may be wrong here as i only read and interpret as much as i can from the papers.I have not check with any developers or banks on this matter.
Dispite all these,it is still beyond me to buy a condo lah.Think i have to stay in HDB for a while.
jackjames ( Date: 12-Sep-2008 14:56) Posted:
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Thanks JJ.
But still think condo is too expensive for me.
can i understand more a little about your question ? free interest loan on initial deposit? meaning to say, if u take the usual housing loan say 35 years, monthly payment is 1800, not without the interest, it would be 1100 per month, so the package they give u is free interest until TOP, so, u just pay the loan 1100 per month without interest...
but, if this is for your own stay, that is fine.. for investment, I would ask you to stay aside, why? it is because you are paying EVERY SINGLE MONTH for nothing FOR 3 YEARS, the best case scenairo, it is completed property you can rent out immediately, but usually, the price would not be fantastic, because if the rental is so good, the seller will rent himself, why he want to sell to you? unless he is in some trouble or want to cash out...
second, buy those condo near TOP, if the condo has great potential, you will see the price will go up while TOP come nearer, heee... of course, there is 1 such codos..
last but not least, unless the developer give you 3 years FREE, no payment at all until TOP, ho ho, that can consider, if so, may I know which condo first?
stupidfool ( Date: 12-Sep-2008 14:30) Posted:
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my calculation exclude those deferred payment, or any other new tricks the developer has designed.
yes, there are so many new condo launched, even the Livia at Pasir Ris launched at 650 p.s.f.
You have to do your studies very very carefully.... where is the next hot spot like Marina Bay, just forget about The Sail, don't bother The Reflection, it is OVER, don't get yourself into trouble by chasing those "over-cooked" area..
Definitely, there are many good bargain buy, meaning to say the rental returns is fantastic, perhaps, any forumer want to share to us ?
For my calculation, yes, typical 10% downpayment + stamp duty... it is way to easy to do the studies of a good buy, check the surrounding condo, get to the sites, and know their rental...
stupidfool ( Date: 12-Sep-2008 14:30) Posted:
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JJ,why PAY 66k to 76k to buy property ard 550k to 660k?
U mean stamp duty,conveyancing etc...?
Also,the bank is gifing free interest loan on initial deposit until TOP (which can be 3 years away).Do u think this is a good method to gain entry into the property mkt?
you ask THE very important question. MUST VISIT THIS SITE ... http://www.homeloan.com.sg
feel free to talk to them, they charge you 0 cents, because all the banks in singapore also do the "out-souce" to third party to help them secure more loan, that does not mean the rate is higher, in fact, you will be surprised that they are able to get LOWER rate than you enter and talk to the banker.
first thing , u must understand what loan you want, 80% or 90%, for me not that rich, so 90% loan, so usually, the rate is 0.5% higher.
now the best rate I know is DBS ... they offer 1.25% + SIBOR 3 months rate, meaning 1.25% +1.25% = 2.5 %... that is the best rate for 90% loan... u will ask me what is SIBOR rate, what is SWAP rate, is this fix, or variable... then, I will need 20 minutes to explain.. but i think u intended to go for housing loan, give them a call, I can guarantee you learn a lot about Singapore Housing Loan.
Rule of thumb, if you want to buy property around 550K - 660K... you must PAY 66K to 76K... around that, can't be too far.. so, make sure your CPF + cash, have that amount of money, then you can proceed, else, no money no talk... don't waste your time and the banker time.. because I also encounter this .... want to buy but too bad, don't have SO MUCH cash..
Strongly Agree with JJ!!! too bad I no $$ to buy private condo in 2004. me and wife targetted Laguna park back then but no spare $$ as we're preparing for our wedding...
my friend bought the Sail when it was launched... now can retire liao after he sold last yr...
jackjames ( Date: 12-Sep-2008 13:19) Posted:
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Which bank currently offer the best deal for housing loan?
where to put money now ?? well, put on property ! find a good value one..
recently, I have another target condo... called Starville, near Kembangan... 1216 square feet, 3 bedroom , FREEHOLD ! sold last month about $750K.. another one selling now at $770K.. I checked the prices in 2003-2004, the price range is about 630K-690K, in other words, the price DID NOT ROCKET high now.. last year done deal at $800K-$880K... why I know this condo well, my friend husband is a SIA pilot, they bought 1 unit, 1216 square feet and it is only 2nd floor, now renting out at $4200, the rental is super good at that area... can consider... it can overcome your monthly loan easily... best of all, it's freehold..
Details of the condo is shown here --> http://www.singaporeexpats.com/singapore-property-pictures/condo/starville.htm
I would advise newbies, stock is one way of earning money, but property is much more easy to earn money ! for long term, property rules for sure.. especially in small country like Singapore... ** sharing from me **