Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
-
coolkiwi
- Newbie
- Posts: 16
- Joined: Wed, 09 Apr 2014 4:29 pm
-
Quote
-
0
login to like this post
Post
by coolkiwi » Fri, 20 Mar 2015 2:45 pm
Hi
Is it worthy to buy a 1 bedroom or studio
condo in Singapore ?In punggol area?
-
Barnsley
- Manager
- Posts: 2319
- Joined: Tue, 10 Jun 2008 5:22 pm
- Location: Pasir Ris
-
Contact:
-
Quote
-
0
login to like this post
Post
by Barnsley » Fri, 20 Mar 2015 3:23 pm
coolkiwi wrote:Hi
Is it worthy to buy a 1 bedroom or studio
condo in Singapore ?In punggol area?
Its probably worth it if you are going to live in it.
What is the objective of the purchase?
Whether its worthy or not though .......... I cannot answer that
Life is short, paddle harder!!
-
coolkiwi
- Newbie
- Posts: 16
- Joined: Wed, 09 Apr 2014 4:29 pm
-
Quote
-
0
login to like this post
Post
by coolkiwi » Fri, 20 Mar 2015 3:34 pm
Ok.
First objective is to stay there .May be after a few years , want to rent out .
Then after a few more years want to sell it
.
Q1 . Do i get the value for the money that i am paying? (as foreigner, needs to pay 15% ABSD)
Q2.My PR application is still processing(around 8 months , still pending) , So is it better to wait for the outcome before making a decision now ?
-
Barnsley
- Manager
- Posts: 2319
- Joined: Tue, 10 Jun 2008 5:22 pm
- Location: Pasir Ris
-
Contact:
-
Quote
-
0
login to like this post
Post
by Barnsley » Fri, 20 Mar 2015 4:13 pm
coolkiwi wrote:Ok.
First objective is to stay there .May be after a few years , want to rent out .
Then after a few more years want to sell it
.
Q1 . Do i get the value for the money that i am paying? (as foreigner, needs to pay 15% ABSD)
Q2.My PR application is still processing(around 8 months , still pending) , So is it better to wait for the outcome before making a decision now ?
Rental for 1 bed
condo around that area I think is pretty low, there are 00s of them being built or going to be built.
Not sure who the target demographic is.
Singletons dont usually want to live so far from the action.
Life is short, paddle harder!!
-
Wd40
- Director
- Posts: 4591
- Joined: Tue, 04 Dec 2012 10:53 am
-
Answers: 1
- Location: SIndiapore
-
Quote
-
0
login to like this post
Post
by Wd40 » Fri, 20 Mar 2015 4:42 pm
Studio or mickey mouse units are the most risky. I was checking for rentals in the p guru site recently and I noticed some units are now even advertised for 1.8k. Punggol is as far away from the city as it can get and its mostly families who like to live there instead of singles.
The last time I calculated the ABSD+ other charges is about 20% and rental yield is about 4%, so it takes 5 years of rental to just get back the transaction costs.
So it depends on the price really. If you are getting a really good deal and a big discount, may be worth buying.
Last edited by
Wd40 on Fri, 20 Mar 2015 6:38 pm, edited 1 time in total.
-
coolkiwi
- Newbie
- Posts: 16
- Joined: Wed, 09 Apr 2014 4:29 pm
-
Quote
-
0
login to like this post
Post
by coolkiwi » Fri, 20 Mar 2015 5:43 pm
Hi Wd40 ,
May i know what you mean by " really good deal and a big discount" ? According to my research the studio
condo price in Punggol is 500K+ to 600k+. Estimated TOP 2017 or 2018.
-
Wd40
- Director
- Posts: 4591
- Joined: Tue, 04 Dec 2012 10:53 am
-
Answers: 1
- Location: SIndiapore
-
Quote
-
0
login to like this post
Post
by Wd40 » Fri, 20 Mar 2015 6:36 pm
Look at the PSFT also and not just the quantum.
We are currently in a buyer's market so you should try and look as many places as possible and then quote something 5-10% below the asking price. The expectation is that there is a huge supply coming online this year and next year and interest rates are going to rise, so there will be overleveraged people out there who will give in to your price.
-
ecureilx
- Immortal
- Posts: 9817
- Joined: Fri, 20 Aug 2010 5:18 pm
-
Quote
-
0
login to like this post
Post
by ecureilx » Fri, 20 Mar 2015 8:25 pm
Wd40 wrote:Studio or mickey mouse units ...
Singapore calls them shoe box units .. not without a reason
I went to Ponggol Sapphire last week and was amazed at the number of new Units being mass produced with high standard ...
One of the reason anybody will rent a unit so far is those who share the place like nurses and fnb staff, 3 or 4 or more to a room
I doubt you will like it ...
-
ecureilx
- Immortal
- Posts: 9817
- Joined: Fri, 20 Aug 2010 5:18 pm
-
Quote
-
0
login to like this post
Post
by ecureilx » Fri, 20 Mar 2015 8:26 pm
Barnsley wrote:
Singletons dont usually want to live so far from the action.
Action being ..????
Last edited by
ecureilx on Fri, 20 Mar 2015 9:58 pm, edited 1 time in total.
-
Wd40
- Director
- Posts: 4591
- Joined: Tue, 04 Dec 2012 10:53 am
-
Answers: 1
- Location: SIndiapore
-
Quote
-
0
login to like this post
Post
by Wd40 » Fri, 20 Mar 2015 8:35 pm
If only I had PR, I would have bought one 2 bedder even if it was like 7-800k. The last 6 years we have blown away 120k in rent. But without PR and 30days to leave country, in case of job loss, can't take the risk of buying.
-
thismyvoice
- Chatter
- Posts: 168
- Joined: Sun, 18 Apr 2010 6:41 pm
- Location: Singapore
-
Quote
-
0
login to like this post
Post
by thismyvoice » Fri, 20 Mar 2015 8:55 pm
coolkiwi wrote:Hi Wd40 ,
May i know what you mean by " really good deal and a big discount" ? According to my research the studio
condo price in Punggol is 500K+ to 600k+. Estimated TOP 2017 or 2018.
2017 and 2018 is a long time. Why commit now?
-
nakatago
- Moderator
- Posts: 8363
- Joined: Tue, 01 Sep 2009 11:23 pm
- Location: Sister Margaret’s School for Wayward Children
-
Quote
-
0
login to like this post
Post
by nakatago » Thu, 26 Mar 2015 5:23 pm
"A quokka is what would happen if there was an anime about kangaroos."
-
-
Buying a condo in Singapore
Replies: 11
First post
Does it make more sense to buy a condo in Singapore rather than to pay rent to the landlords?
Last post
I already own - the issue is that this distorts the market unevenly. It swings to the market towards the new units and away from the resale units.
- 11 Replies
- 4442 Views
-
Last post by PNGMK
Wed, 20 Jan 2021 9:02 am
-
-
Studio units
Replies: 7
First post
If a resale studio unit size about 390 sq ft and rent is about $1,800-$2,000 in the suburb.
Is it worth the buy at about $550,000?
My concern is the...
Last post
I'd just buy ETFs or REITS :)
Same here. The real estate market is just not worth the trouble for me right now, stocks and ETFs are where its at...
- 7 Replies
- 2663 Views
-
Last post by Lisafuller
Sat, 12 Jun 2021 10:33 pm
-
-
- 0 Replies
- 1795 Views
-
Last post by kiwiinsg
Wed, 16 Feb 2022 11:56 am
-
-
Buying property in Singapore as dual-nationality
Replies: 7
First post
Hi - I'm aware that Americans can buy property without the ABSD, but what if they have dual nationality e.g. American and French?
Additionally,...
Last post
Hi nomadinsg, I'm in the same situation - EP tied to one passport while wanting to use American passport for ABSD exemption. Did you find out more...
- 7 Replies
- 5281 Views
-
Last post by nomadinsg
Mon, 08 May 2023 11:01 am
-
-
Buying fish in Singapore
Replies: 132
First post
I recently restarted eating meat after like 15 years, thanks to my health screening results of low vitamin B12 and D, which is common among...
Last post
Meatless biryani as in using impossible meat? Or just vegetables. I've been looking for egg biryani recently, but not many places seem to sell it....
- 132 Replies
- 30094 Views
-
Last post by Lisafuller
Wed, 24 May 2023 10:55 pm
Users browsing this forum: No registered users and 6 guests