Rental Rates For Edelweiss Park/dahlia Park/ferraria

[Plastic3 0]

Hi anyone knows the rental rates for these condos in Changi? It used to be S$3000-$3,500 for 3 -bedder... wondering what are the rents now..

Rental rates there are relatively unchanged about $3000-$3500.

[bepgof 20]

chandler

You must be referring to #08-27, wow 150K increase after abt a year.

16 Flora Drive #08-27Freehold$619 1776$1100k21-Jul-09

- Just spend a few hours at site, during morning & evening peak hours, monitoring. Best include raining days.

- Monthly maintenance fee expected to be ard $600.

- Got money, buy lah ! Price is ok, try reduce 50k.

- The more you wait, the more price goes up.

Edited June 2, 2010 by bepgof

[blueocean 0]

Hi Chandler,

Based on 1776 sf, the asking price of $1.25m is about 703 psf.

I did a search and looked at all Ferraria Park units at that similar size, the last 2 transactions 08-02, 08-50 were closed at 701 psf and 713 psf respectively. Of course, each unit will have a minor price variation depending on facing etc.

To nego for a $50,000 is asking for a psf of $675 psf. That will be a new breakthrough price at that psf. It very much depends on how desperate the seller is. Most sellers are pegging it to the pricing of the Gale. The new condo plot will launch within a year, and likely to sell at 7xx psf for a leasehold.

Have you done an bank indicative valuation of that place yourself ? I usually use that to gauge how reasonable the asking price is. Before completing your purchase, check that you already have an approval-in-principle of the loan amount you are intending to get already. It will be very stressful if the bank does not approve it after obtaining OTP and then you got to submit multiple applications to all the different banks in those 2 weeks.

Good luck !

blueocean,

Thanks for sharing your point of view and comment.

This Ferraria Park Condo on level 8 is asking for 1.25M with 1776sft, i guess the roof terrace around 300-400sft with spa. Do you think the asking price is reasonable?

How about the noise from the expressway? I'm worried that I may not cope with the noise and the dust after buy and live. Or should I juz drop the idea of living around this area and consider other more convenient area? As this FPC location is not close to any amenity(MRT, buses, shopping centre etc). All I like about this FPC is it does give me a "home feeling" due to it's spacious size compare to other condos in current market now(not to mention Flamingo Valley as the PSF is out of my budget).

You are very knowledgeable in the property area. Are you working in this field?

Anyway, thanks.

Good nite.

[blue_skies 3]

Hi

Just to share, my hb & I were looking for condos ard the East side to purchase for own stay last year - we viewed units at Ballota Park, Edelweiss Park, Azalea Park and Carissa Park. We ended up buying Carissa Park because we wanted a condo with lots of space. I think Carissa Park is the largest amongst them. We found Ballota Park too close to the prison plus there was a temple next door, so it did not make the cut even though price was almost 80k cheaper for a 3 bdrm unit. Azalea Park was a bit too run down. Edelweiss seemed a bit cramped. We bought a 3bdrm unit at Carissa Park, mid floor, pool facing @~$610psf. One of my friends also bought a unit at Carissa Park for investment just recently. Apparently, a very large portion of the units at Carissa Park are tenanted (rather than owner occupied) - that's what the management office said when I asked them about the tenancy at the condo.

About condos in Kembangan area, I think they can be a good buy if you find one of those older ones. The new condos in the area are too pricey. I don't particularly fancy Telok Kurau area coz the streets are very cramped and you've got 2 way traffic on some of them. Have you looked at Windy Heights / Starville / Grosvenor View etc? There are a few condos near Lengkong Tiga which are freehold / 999 and quite nice and probably a better deal for the same price than those in Telok Kurau area. Don't forget too, that for small condos / boutique condos, there are fewer units so the maintenance cost per unit is also more $$$

If you are buying with the intention to rent out in the future, might be better to buy a unit that's near the MRT too.

[blueocean 0]

Azelea Park is old. The parking is the open sort of parking without any shelter. But it is interesting to see the condos at Flora area - almost like a pictorial history lesson on how the designs of condo has changed over the years !

Hi

Just to share, my hb & I were looking for condos ard the East side to purchase for own stay last year - we viewed units at Ballota Park, Edelweiss Park, Azalea Park and Carissa Park. We ended up buying Carissa Park because we wanted a condo with lots of space. I think Carissa Park is the largest amongst them. We found Ballota Park too close to the prison plus there was a temple next door, so it did not make the cut even though price was almost 80k cheaper for a 3 bdrm unit. Azalea Park was a bit too run down. Edelweiss seemed a bit cramped. We bought a 3bdrm unit at Carissa Park, mid floor, pool facing @~$610psf. One of my friends also bought a unit at Carissa Park for investment just recently. Apparently, a very large portion of the units at Carissa Park are tenanted (rather than owner occupied) - that's what the management office said when I asked them about the tenancy at the condo.

About condos in Kembangan area, I think they can be a good buy if you find one of those older ones. The new condos in the area are too pricey. I don't particularly fancy Telok Kurau area coz the streets are very cramped and you've got 2 way traffic on some of them. Have you looked at Windy Heights / Starville / Grosvenor View etc? There are a few condos near Lengkong Tiga which are freehold / 999 and quite nice and probably a better deal for the same price than those in Telok Kurau area. Don't forget too, that for small condos / boutique condos, there are fewer units so the maintenance cost per unit is also more $$$

If you are buying with the intention to rent out in the future, might be better to buy a unit that's near the MRT too.

[Warrior88 0]

Nobody view Dhalia & Avila ?

[blueocean 0]

Avila Gardens ? One of the non-Tripartite development. Has sheltered car parking. Also quite old.

Dhalia has a mini-mart and next to the Gale.

I'm surprised no one asked about the build quality of the condos ? I guess location and the "feel" of the place is more important

BCA's CONQUAS has a scoring for most of the condo developments.

Nobody view Dhalia & Avila ?

[bepgof 20]

Avila Gardens ? One of the non-Tripartite development. Has sheltered car parking. Also quite old.

Dhalia has a mini-mart and next to the Gale.

I'm surprised no one asked about the build quality of the condos ? I guess location and the "feel" of the place is more important

BCA's CONQUAS has a scoring for most of the condo developments.

FE "bad reputation"- like to "eat" ppl, CDL - gentleman, grand, spacous, Allgreen - like birds & water-balls features, UOL- fine, Wingtai - so so, NTUC CH- worst. Ho Bee -between FE & CDL. The rests - no really paying attention.

Edited June 4, 2010 by bepgof

[blueocean 0]

An extract of BCA's CONQUAS score. Passing mark is generally above 80 points. Generally, i agree that CDL's build is good.

Quintet by Centrepoint - Score 72.8

Raintree by Centrepoint - Score 80.2

The Sail by CDL - Score 94.8

Parc Emily by CDL - Score 94.8

Nassim Park by CDL - Score 80.1

Icon by FEO - Score 90.4

Vida by FEO - Score 89.5

Raffesia by FEO - Score 82.3

Sterling by FEO - Score 82.3

Eastpoint Green by FEO - Score 80.7

Shaughnessy by Allgreen - Score 90.7

Ballota Park by Hong Leong - Score 80.3

The Pearl at Mt Faber by Sim Lian - Score 77.8

Cosmopolitan by Wheelock - Score 87

I prefer to buy from big developers (and public listed). Less likely for them to fold. I avoid small developers.

Have you seen SC Global and Wheelock properties ? Their finishings are nice.

FE "bad reputation"- like to "eat" ppl, CDL - gentleman, grand, spacous, Allgreen - like birds & water-balls features, UOL- fine, Wingtai - so so, NTUC CH- worst. Ho Bee -between FE & CDL. The rests - no really paying attention.

[bepgof 20]

I prefer to buy from big developers (and public listed). Less likely for them to fold. I avoid small developers.

Same here. I've too many criterias for dream home:

- High enogh to have good view, yet have privacy - I can see ppl, ppl cannot see me.

- No blockage surrounding, wind can flow naturally

- Partial morning & partial evening sun.

- Best to have "garden" - can plant some "miniature" fruit trees & flowering plants + vege. Have rest corner to see stars at night & drink coffee or bear with family/friends.

- One specific room with tools/bench/table for my RC hobby construction.

- MRT, schools, good eatries, swimming pool all these not important.

- Landed seemed too low the view, but got "garden" - hard to see stars at night. Terrace house looked too "cramped".

- Penthhouse is just nice, but when think of paying monthly maintenance fee, woo, no joke, especially when one's not working, unless got some other constant income sources.

Edited June 4, 2010 by bepgof

[blueocean 0]

I think a GCB would be the most ideal dream home ... can build from scratch from the plot of land. But would need domestic helpers else maintaining the house will be a nightmare !

These days, penthouses are not what they used to - no longer the bungalows in the sky. Any unit that has a roof terrace is a penthouse unit now Developers have been maximising these roof terraces to be sold as they do not count towards their GFA - and considered bonus GFA ...

Same here. I've too many criterias for dream home:

- High enogh to have good view, yet have privacy - I can see ppl, ppl cannot see me.

- No blockage surrounding, wind can flow naturally

- Partial morning & partial evening sun.

- Best to have "garden" - can plant some "miniature" fruit trees & flowering plants + vege. Have rest corner to see stars at night & drink coffee or bear with family/friends.

- One specific room with tools/bench/table for my RC hobby construction.

- MRT, schools, good eatries, swimming pool all these not important.

- Landed seemed too low the view, but got "garden" - hard to see stars at night. Terrace house looked too "cramped".

- Penthhouse is just nice, but when think of paying monthly maintenance fee, woo, no joke, especially when one's not working, unless got some other constant income sources.

[chandler 0]

I wonder has anyone noticed that alot of people is started to "RESALE" the gale and also alot more of the units in Ferraria Park Condo are on the propertyguru.com site.

Hmm... I wonder why. Is it due to the current interest increment?

[blueocean 0]

Ferraria TOP in Sept 09 last year. The defects liability period finishes in Sept 10.

I wonder has anyone noticed that alot of people is started to "RESALE" the gale and also alot more of the units in Ferraria Park Condo are on the propertyguru.com site.

Hmm... I wonder why. Is it due to the current interest increment?

[bepgof 20]

I wonder has anyone noticed that alot of people is started to "RESALE" the gale and also alot more of the units in Ferraria Park Condo are on the propertyguru.com site.

Hmm... I wonder why. Is it due to the current interest increment?

Present 3 sceneriors here, see how u make decision:

1. FH, pennthouse, 1888 sqf, top 2015 April, selling price = $1.6mil, nedd 5% cash upfront, 15% 5-8 wk later, 10% a yr later....

2. FH, pennthhouse. 2000 sqf, resale, top 2006. selling price = $1.7mil......

3. FH, pennthhouse, 1900 sqf, top 2010 Dec, selling price = $1.6

For "own stay" as well as for appreciation, intend to sell within 5 yr after stay.

1,2, 3 which is "better" ?

Edited June 6, 2010 by bepgof

[bepgof 20]

I wonder has anyone noticed that alot of people is started to "RESALE" the gale and also alot more of the units in Ferraria Park Condo are on the propertyguru.com site.

Hmm... I wonder why. Is it due to the current interest increment?

Actually, quite common. But WHAT drive to this "common"?

-Within developer's liability period is a very "minor" concern to resale buyer, buy a "+" pt to seller.

- Current interest still low

- Sellers want to ride onto this property "high tide" - most anticipated a price-softening (low tide coming!)towards yr end, so must action now.

- Quite a "typical" move for "investors". Put 5%+15% +10%....bankloan disburse.TOP within a year, sell ! Get back money, wait, calculate, invest again.

Edited June 6, 2010 by bepgof