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Condos: Buy Now Or Wait?

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Personally I think now is a good time to look at older condo/apt units that has actual plot ratio of less than 1.0 (meaning each unit you purchase, e.g. a 1000sqft unit, your ownership of physical land is at least 1000sqft and above). As these units are usually older (at least 10 yrs old), and most are fully paid, it takes time like this to entice owners to sell to realise their gain. long term investment wise, this would be attractive as it is a fact that land (freehold somemore) is scarce esp near MRT.

i am finalisng on a gated walkup apt with swimming pool. entitled ownership of the land is 1300sqft and minutes walk to kembangan mrt. without considering the building, just that piece of raw land ownership value, how much would you pay? freehold and 1.4 plot ratio.

my purchase price, based on the physical land, is about $400psf per plot ratio. the built-in space apartment which could yield rent is an added bonus.

just offering another perspective.

sounds like quite a good deal you got

 

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Care to share which development it is?

I am keen in that area too. And I agree with your perspective. :P

Personally I think now is a good time to look at older condo/apt units that has actual plot ratio of less than 1.0 (meaning each unit you purchase, e.g. a 1000sqft unit, your ownership of physical land is at least 1000sqft and above). As these units are usually older (at least 10 yrs old), and most are fully paid, it takes time like this to entice owners to sell to realise their gain. long term investment wise, this would be attractive as it is a fact that land (freehold somemore) is scarce esp near MRT.

i am finalisng on a gated walkup apt with swimming pool. entitled ownership of the land is 1300sqft and minutes walk to kembangan mrt. without considering the building, just that piece of raw land ownership value, how much would you pay? freehold and 1.4 plot ratio.

my purchase price, based on the physical land, is about $400psf per plot ratio. the built-in space apartment which could yield rent is an added bonus.

just offering another perspective.

 

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I am ok with the location. Near to city and many eateries.

You don't like it coz of the hotels?

Hey icer i bought a unit at the other side of balestier. I love the area very much. When i bought it at the start of the recession, everyone said i am crazy so expensive yada yada should wait. But i'm happy i didn't listen to them cause the prices for the area is already more then what i paid for and i got the floor level i want. Prices for that area will go up but most importantly you like or not. Have you look at bliss loft? Units are bigger at i think 800++ sq ft.

 

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Yah lor. Who will think that the price will go up when it's recession???

Really weird lor.

Anyway, now is too expensive liao. :(

Hey icer i bought a unit at the other side of balestier. I love the area very much. When i bought it at the start of the recession, everyone said i am crazy so expensive yada yada should wait. But i'm happy i didn't listen to them cause the prices for the area is already more then what i paid for and i got the floor level i want. Prices for that area will go up but most importantly you like or not. Have you look at bliss loft? Units are bigger at i think 800++ sq ft.
 

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it will only stop those that over stretch themselves.

For those can afford 20% down-payment, not that effective.

Everything goes up , will come down.

Just only WHEN

 

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As soon as possible, please. :P

I don't know. *shrug* But that recent launched condo in Yishun, Estuary selling like hotcakes with $850 per sq ft as avg price. Zzzzzzz. So expensive! Now i worry about the future generation. Maybe price will dip in the next recession cycle, but question is when? I also don't know.

 

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I don't know. *shrug* But that recent launched condo in Yishun, Estuary selling like hotcakes with $850 per sq ft as avg price. Zzzzzzz. So expensive! Now i worry about the future generation. Maybe price will dip in the next recession cycle, but question is when? I also don't know.

1. If "cheap", everybody will "chiong" and buy, price goes up then - law of demand & supply.

2. Everybody know property is good investment in Singapore. Luckily got gov playing wulo and taile.

3. If you got 5% cash, and 15% (OA cpf), and another abt 40% (cash or OA cpf), you should "chiong" and get one. Get ready 40% loan from bank.

4. Buy MCST, 99, 999, FH?

5. Landed?FH?

6. 99 yr come very fast, better to sell with 5 yr.

7. For own stay or rental? Remeber the property tax of 4% & 10%. I guess will be revised soon.

Got money should buy. buy, buy. Collect rent, sit down & shake leg - typical Singaporean dream.!

Edited by bepgof
 

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With the recent measures, more developments launching, interest rate going up soon, I hope the prices can stabilise or go down a little.

Otherwise, I have to go for resale flats, which is relatively cheaper. But the COV is ridiculous now!!! $50K and above for some!!!

 

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With the recent measures, more developments launching, interest rate going up soon, I hope the prices can stabilise or go down a little.

Otherwise, I have to go for resale flats, which is relatively cheaper. But the COV is ridiculous now!!! $50K and above for some!!!

As I mentioned in other post, stock mkt now so hot, ppl treat money as if ordinary paper, cov sure up. Average 8.1% increase for hdb resale from jan 09 to dec 09. The announced measures were too "tender"- suggest u to wait after general election and those "shiong" measures will be out, then go in.

Unlikely to go down unless.... China proty bubble bust. Greek, Portugal, Spain no monet to pay debts. Euro, NZD, USD interest are so low, mkt full of money, very liquid indeed! If China announces increase interest, then watch out for snow ball effects to south asia!

Edited by bepgof
 

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No time is the best time.

I got mine in Feb at a high price.

Now price is even higher.

Prices will drop..Just a matter of when and how fast.

Some say wait for elections..for many believe PAP won't do well, and prices would surely come down.

 

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No time is the best time.

I got mine in Feb at a high price.

Now price is even higher.

Prices will drop..Just a matter of when and how fast.

Some say wait for elections..for many believe PAP won't do well, and prices would surely come down.

Econ, stock mkt, property mkt are like brothers, hand-in-hand, correlated.

Econ seem very unpredictable- another Goldman Sachs anytime, Europe is weak, many states in US run fund low, many teachers out of job soon. My instint tells me something big going to happen soon. GE coming soon......

If you have cash, worth to wait and hold.

 

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Econ, stock mkt, property mkt are like brothers, hand-in-hand, correlated.

Econ seem very unpredictable- another Goldman Sachs anytime, Europe is weak, many states in US run fund low, many teachers out of job soon. My instint tells me something big going to happen soon. GE coming soon......

If you have cash, worth to wait and hold.

Edited by wj888
 

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