Rental Rates For Edelweiss Park/dahlia Park/ferraria

[blueocean 0]

I assume all 3 penthouses are in the same location. And the upper floor is a roof terrace with no build-in for all 3 units.

For "own stay", waiting for it to TOP in 2015 is very long.

Now left, option 2 or 3 : 4 year old unit and a brand new unit that will be ready at end of year, for about the same price. Hmm ... hard decision to make

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" ?

[bepgof 20]

I assume all 3 penthouses are in the same location. And the upper floor is a roof terrace with no build-in for all 3 units.

For "own stay", waiting for it to TOP in 2015 is very long.

Now left, option 2 or 3 : 4 year old unit and a brand new unit that will be ready at end of year, for about the same price. Hmm ... hard decision to make

- Presently , find "hard" to decide if to park initial abt $400k (booking +otp+stamp duty)now & wait till 2015 to move. Arrange mortgage a year later. Flamingo's #5-27 is asking $1,661,000. My concern is whether worth to put $400k cash there now, till 2015. Or may be I can use this 400K to make another, say 80K, in stock market within this year.

- Or park $400K for a unit available NOW, one is new, one is 4-yr old. May be stay there for a while & rent out. My concern is : Can get a better price (say can save 80K~100K) at end of year or beginning of next yr.

- Just sold condo last yr, moved to HDB resale 5-rm this Jan, qualified for 1-yr MOQ, bank's lock-in ends Dec this yr, outstanding amount abt $81K. Intend to apply for full redemption this Sept, need 3 months' notice.

- As mention earlier, I like gardening, as well as to see/count stars at night, the "roof" is for that purpose. Do u think now can get those run down FH land at abt 1.2mil? Put in another 400K-500K for rebuid.

Edited June 7, 2010 by bepgof

[blueocean 0]

I think no one can predict what the market is going to be like over the next 6 mths to one year. The market may represent an opportunity now or it may be at the edge of a mountain and waiting to topple ...

Penthouse units are usually more difficult to rent out unless you have excellent unblocked views and high floor. Penthouse units also move slower compared to the more popular 2 and 3 bedroom units.

I think the question is whether you are in a hurry to find a new place to suit your lifestyle needs - life is short anyway, are you willing to wait another 4 years?

Have you checked the surrounding views of #05-27 ? I remember there is a muslim cemetery in that direction ... Build in area of that PH is about 1100 sf with the rest being a roof terrace and spa ...

- Presently , find "hard" to decide if to park initial abt $400k (booking +otp+stamp duty)now & wait till 2015 to move. Arrange mortgage a year later. Flamingo's #5-27 is asking $1,661,000. My concern is whether worth to put $400k cash there now, till 2015. Or may be I can use this 400K to make another, say 80K, in stock market within this year.

- Or park $400K for a unit available NOW, one is new, one is 4-yr old. May be stay there for a while & rent out. My concern is : Can get a better price (say can save 80K~100K) at end of year or beginning of next yr.

- Just sold condo last yr, moved to HDB resale 5-rm this Jan, qualified for 1-yr MOQ, bank's lock-in ends Dec this yr, outstanding amount abt $81K. Intend to apply for full redemption this Sept, need 3 months' notice.

- As mention earlier, I like gardening, as well as to see/count stars at night, the "roof" is for that purpose. Do u think now can get those run down FH land at abt 1.2mil? Put in another 400K-500K for rebuid.

[blue_skies 3]

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" ?

I would go for No. 2 choice actually. It's already TOP for several years so you can check whether the development is well maintained or not, plus who your neighbours are etc. Sometimes developers don't build the units as shown in the plan and you may end up with a different facing. When you buy an already built unit, you get what you see.

If you are buying a penthouse, you might also want to check what is the developer's liability on the roofing (against leaks etc), especially if you are buying an open rooftop. The wear and tear on surfaces exposed to rain & sun everyday can be quite severe, e.g. on expansion joints. Don't forget that if anything happens to your waterproofing on the rooftop, it will affect your unit first.

[bepgof 20]

I think no one can predict what the market is going to be like over the next 6 mths to one year. The market may represent an opportunity now or it may be at the edge of a mountain and waiting to topple ...

Penthouse units are usually more difficult to rent out unless you have excellent unblocked views and high floor. Penthouse units also move slower compared to the more popular 2 and 3 bedroom units.

I think the question is whether you are in a hurry to find a new place to suit your lifestyle needs - life is short anyway, are you willing to wait another 4 years?

Have you checked the surrounding views of #05-27 ? I remember there is a muslim cemetery in that direction ... Build in area of that PH is about 1100 sf with the rest being a roof terrace and spa ...

Right behind this unit is the muslim cemetery, this unit will be on the "highest" point of the plot with moning sun & partial evening sun. When think of month maintenance fee scares me off - my family hardly use those facilities, so I have been asking myself why should I pay for it?

Edited June 7, 2010 by bepgof

[bepgof 20]

I would go for No. 2 choice actually. It's already TOP for several years so you can check whether the development is well maintained or not, plus who your neighbours are etc. Sometimes developers don't build the units as shown in the plan and you may end up with a different facing. When you buy an already built unit, you get what you see.

If you are buying a penthouse, you might also want to check what is the developer's liability on the roofing (against leaks etc), especially if you are buying an open rooftop. The wear and tear on surfaces exposed to rain & sun everyday can be quite severe, e.g. on expansion joints. Don't forget that if anything happens to your waterproofing on the rooftop, it will affect your unit first.

Ya, you got the point, especially on maintenance aspect.

Edited June 7, 2010 by bepgof

[blueocean 0]

I think it is a lifestyle choice ...

Maintenance issue is also the same for landed properties - gardening, pest control, leaking roofs etc.

Every lifestyle has its pros and cons.

Similarly, why would anybody get a Mini or a convertible ? It doesnt make sense functionally ... but its a lifestyle choice/car ....

Ya, you got the point, especially on maintenance aspect.

[bepgof 20]

I think it is a lifestyle choice ...

Maintenance issue is also the same for landed properties - gardening, pest control, leaking roofs etc.

Every lifestyle has its pros and cons.

Similarly, why would anybody get a Mini or a convertible ? It doesnt make sense functionally ... but its a lifestyle choice/car ....

Life

Style

Choice

Money?

Got money then have more styles to choose from. No money, less styles to choose but still a lifestyle choice. All things lead to lifestyle choice, unless no life therefore no choice. Simple yet complicated.

Edited June 7, 2010 by bepgof

[blueocean 0]

Wah ... so complicated !

It is like for example :

- some people choose a higher cc engine or bigger cars although they are less fuel efficient ...

- some people like to have a big condo unit ... but more house cleaning and more toilets to clean

- some people have 2 cars - one for weekend (like a coupe), one for weekday

It is a choice. But of course if cash/money is an issue, then have to moderate one's expectations to what is obtainable or reasonable ...

Life

Style

Choice

Money?

Got money then have more styles to choose from. No money, less styles to choose but still a lifestyle choice. All things lead to lifestyle choice, unless no life therefore no choice. Simple yet complicated.

[bepgof 20]

Wah ... so complicated !

It is like for example :

- some people choose a higher cc engine or bigger cars although they are less fuel efficient ...

- some people like to have a big condo unit ... but more house cleaning and more toilets to clean

- some people have 2 cars - one for weekend (like a coupe), one for weekday

It is a choice. But of course if cash/money is an issue, then have to moderate one's expectations to what is obtainable or reasonable ...

Hi Blueocean, just share share, received from agent, abt the Falmingo Valley, Blk 468, #05-27. This unit is sitting on the upper deck, in the N-S orientation, has unblocked views and enjoys only the morning sun. $894psf ONLY, top 2015 April. D15 district. Right behind the unit is the muslim......

Edited June 8, 2010 by bepgof

[blueocean 0]

I'm not surprised about the psf pricing as the roof terrace usually has a lower valuation/psf vs the build-in area.

The build-in area looks a bit small for a 1800 sf size unit. And the layout is a bit strange ...eg as you walk-in to the apartment, you see the bedrooms, then the living room. The kitchen is sandwiched between the two bedrooms and the kitchen/yard is small. I supposed the clothes will have to be hung on roof terrace to dry then ... ?

you are still keen in this unit ?

Hi Blueocean, just share share, received from agent, abt the Falmingo Valley, Blk 468, #05-27. This unit is sitting on the upper deck, in the N-S orientation, has unblocked views and enjoys only the morning sun. $894psf ONLY, top 2015 April. D15 district. Right behind the unit is the muslim......

[bepgof 20]

I'm not surprised about the psf pricing as the roof terrace usually has a lower valuation/psf vs the build-in area.

The build-in area looks a bit small for a 1800 sf size unit. And the layout is a bit strange ...eg as you walk-in to the apartment, you see the bedrooms, then the living room. The kitchen is sandwiched between the two bedrooms and the kitchen/yard is small. I supposed the clothes will have to be hung on roof terrace to dry then ... ?

you are still keen in this unit ?

I'm looking for a "retiring" place actually, can do planting & counting stars at night. But now "a bit" early to make the decision. May be 4~6 years later to move in. Parents alway sacrify for their children. I'll not do a "strike" without reason/s.

Edited June 8, 2010 by bepgof

[blue_skies 3]

Hi Blueocean, just share share, received from agent, abt the Falmingo Valley, Blk 468, #05-27. This unit is sitting on the upper deck, in the N-S orientation, has unblocked views and enjoys only the morning sun. $894psf ONLY, top 2015 April. D15 district. Right behind the unit is the muslim......

I guess it's a very personal choice because it depends on whether you mind what is at the back of the unit

1800 sq ft for 2 floors sounds a bit crammed though, and 1.6mil for that size sounds a bit steep, not to mention you'll be paying a sizeable amt of maintenance every mth if you have one of the larger units.

I've not been looking actively at landed properties in that area, but I think about a year ago, you could get an old terrace around Lucky Heights area for 1.2 - 1.3 mil? Not sure what's the price tag on them now.

[blueocean 0]

Typically, en-bloc sites are more expensive because the developer has to give a reasonable exit offer to the previous condo owners. Government land sale (GLS) sites are usually cheaper but are 99 years leasehold.

Estuary condo was selling on average 7xx psf. The recent Sembawang GLS highest bid was close to 400 psf. After construction cost of 250 psf, it is likely to sell at 7xx psf or higher. In central areas, the Cyan has been selling at 19xx to 2xxx psf. Newton condos have been selling at 15xx psf or higher. Jardin/Floridian/Cascadia are all selling at about 15xx psf. The prices are no longer what they used to be like especially if the plot of land is obtained from en-bloc sale.

How would one place Flamingo Valley amongst the mass market condos and mid-tier condos ?

Specifications for Flamingo Valley are fair - marble for living/dining area, timber strips for bedrooms. They are also throwing in oven, microwave, fridge besides the usual hob/hood for some of the units. I hate it when i see some developers only offering homogenous tiles, no individual security for tower lobby etc so as to minimise cost and maximise profits. It will be interesting to see when the developers would one day offer almost "move-in" condition on hand over of condo units with choice of ceiling, lighting, carpentary works etc for the mass market condos ....

Edited June 10, 2010 by blueocean

[blueocean 0]

Regarding Flamingo Valley .....

Looking at the URA Masterplan, the cemetery has been zoned as residential. It looks like in future, it will be another plot of land available for development in the future. The surrounding area of the condo looks good - surrounded by landed housing. Likely will get good demand for rental from the Indian Global School as so nearby - assuming that the school remains there ....