Punggol Watertown project

[Yattokame]

if i am not wrong, i think cannot leh. isn't this water town an EC? if it is EC then it is HDB right until 10 yrs later MOP. then the sister cannot own 2 hdb at same time right?

 

Definitely cannot. Can only use cpf to pay for one house.

[Solar]

Yes... u need to hv min approx 60k and can use the balance to buy your next property

 

thanks.. only OA right? cannot touch SA?

cleaned OA for the HDB a while back.. but SA remains quite a tidy sum..yes, over the 60k.

dunno can use to buy or not.. trying to keep cash by my side as much as possible and use cpf instead.

 

aiming for some discount in the coming dip in '12 to '14

 

[Solar]

Buyer r not stupid, they know wat WT can offer, not just home stay or investment. The new year opening is 1 good example.

The plot of land opposite the long kang will have a even better view.

 

not been there before.. before buying, make sure that the longkang water is not stale (not moving) and emit no foul smell... its bad fengshui if it is..

[Unidentified]

Why bother with 99 LH projects that are above 1k psf, not to mention that this is 1400

 

 

if it's in RM,then it's still considerable.

HAHAHAHAHAHAHAHHAHAHAHAHA.

MORE GOOD YEARS AHEAD...or more suicides ahead?

[Sabbie]

A friend just bought a unit at WT, 53sq m, unit price 640k+, low floor. His sis kind of pressurized him into buying the unit with her, which she only holds 1/3. Amazing thing is, she heard from agent friend that his family bought 2 units, so she went to showroom and decided to buy a unit, when she has no cash at all, so now my friend has to fork out all the 5% cash. She is still financing her hdb using cpf, and she is also going to finance this WT unit using cpf. Is this possible? but that's what my friend said. Because of his sis's hdb loan, they could only get 60% loan on the WT unit, but he said OCBC can give them 80% loan? When I heard all these, I really worry for my friend, because he did not even go to the showroom and the sis managed to make him commit to a unit, when she herself clearly can't afford it. The sis and husband are not high earners and have to service car loan, hdb loan and feed 3 young kids. When people who can't afford to finance a condo start diving into the market, it really spells trouble.

 

He told me about the refer a friend and get 1% cashback on their condo purchase, be referred and get 1% discount, stay or work in punggol area and get 1% discount schemes, I can't help but think that using 1% discounts to attract buyers tell me that the developer is too eager to sell. But I must say they are really good at this, because my friend's sis managed to get her boss to buy one unit using the lure of 1% discount, and she got 1% cashback off their unit too. I wonder how many units were sold due to this discount thingy.

 

Anyway I've cashed out of a unit half a yr ago, waiting for a better chance to enter the market again. When he told me about this WT project and asked if I went to take a look, I was not interested at all. I was really shocked when he told me he bought such a unit for investment, to collect rent in future. I stay near punggol and don't see why FT would want to stay there, unless the rent is really competitive. Now I can only wish him good luck and hope I'm wrong.

what a big joke....and definitely no 80% loan under MAS 626....and please la, you think OCBC is MAS, they are the world's safest bank, won't anyhow one

[Sabbie]

thanks.. only OA right? cannot touch SA?

cleaned OA for the HDB a while back.. but SA remains quite a tidy sum..yes, over the 60k.

dunno can use to buy or not.. trying to keep cash by my side as much as possible and use cpf instead.

 

aiming for some discount in the coming dip in '12 to '14

 

Yes, as long as you keep half the mimimum sum which consists of both your SA and OA, you can use the rest of your CPF OA for 2nd property

[Old-driver]

Thansk for ppl like your friend and his sister, the next property crash will come sooner than later...

This is Bulls**t la... got existing loan means can loan up to 60% and the banks cant do anything to increase. and for a 640k unit, he needs to fork out 256k cash hahaha. no $$ how to downpayment 256k leh?

[Sabbie]

This is Bulls**t la... got existing loan means can loan up to 60% and the banks cant do anything to increase. and for a 640k unit, he needs to fork out 256k cash hahaha. no $$ how to downpayment 256k leh?

 

Good good, less suicides at Bedok Reservoir and more at Punggol waterway

[Ender]

A friend just bought a unit at WT, 53sq m, unit price 640k+, low floor. His sis kind of pressurized him into buying the unit with her, which she only holds 1/3. Amazing thing is, she heard from agent friend that his family bought 2 units, so she went to showroom and decided to buy a unit, when she has no cash at all, so now my friend has to fork out all the 5% cash. She is still financing her hdb using cpf, and she is also going to finance this WT unit using cpf. Is this possible? but that's what my friend said. Because of his sis's hdb loan, they could only get 60% loan on the WT unit, but he said OCBC can give them 80% loan? When I heard all these, I really worry for my friend, because he did not even go to the showroom and the sis managed to make him commit to a unit, when she herself clearly can't afford it. The sis and husband are not high earners and have to service car loan, hdb loan and feed 3 young kids. When people who can't afford to finance a condo start diving into the market, it really spells trouble.

 

He told me about the refer a friend and get 1% cashback on their condo purchase, be referred and get 1% discount, stay or work in punggol area and get 1% discount schemes, I can't help but think that using 1% discounts to attract buyers tell me that the developer is too eager to sell. But I must say they are really good at this, because my friend's sis managed to get her boss to buy one unit using the lure of 1% discount, and she got 1% cashback off their unit too. I wonder how many units were sold due to this discount thingy.

 

Anyway I've cashed out of a unit half a yr ago, waiting for a better chance to enter the market again. When he told me about this WT project and asked if I went to take a look, I was not interested at all. I was really shocked when he told me he bought such a unit for investment, to collect rent in future. I stay near punggol and don't see why FT would want to stay there, unless the rent is really competitive. Now I can only wish him good luck and hope I'm wrong.

 

I wonder if there's lot of this type of buyer profile for watertown? All attracted by the wonderful marketing by FEO even though not much cash on hand.

 

 

 

 

 

[Shor]

This area gonna be hot property.

 

Neighbor of my parents 5 room sold 600k +

 

Think this area will be thoroughly developing.

 

Anyone staying in this area care to input the pros and cons

[Little_prince]

This area gonna be hot property.

 

Neighbor of my parents 5 room sold 600k +

 

Think this area will be thoroughly developing.

 

Anyone staying in this area care to input the pros and cons

punggol 5rm sell 600k????

[Mustank]

This area gonna be hot property.

 

Neighbor of my parents 5 room sold 600k +

 

Think this area will be thoroughly developing.

 

Anyone staying in this area care to input the pros and cons

 

This area gonna be hot property.

 

Neighbor of my parents 5 room sold 600k +

 

Think this area will be thoroughly developing.

 

Anyone staying in this area care to input the pros and cons

 

Of course Ponggol Good! Got Ponggol 21+, waterfront living, NE line, KPE. Ponggol is the next big thing!

 

 

[Hosaybo]

buangkok area 4 room already sell 550K. So not surprise at all. I think it is high but apprarently, alot of people doesn't.

[Rainman]

punggol 5rm sell 600k????

 

Can use this to check

 

http://services2.hdb.gov.sg/webapp/BB33RTI...3PReslTrans.jsp

[Soya]

Thansk for ppl like your friend and his sister, the next property crash will come sooner than later...

 

 

tink sgp got lots of these goondus who dunno much abt property rules, financing, market segment, product and willingly get con by agents. that's why the next crash will be a spectacular one.

[Mustank]

Can use this to check

 

http://services2.hdb.gov.sg/webapp/BB33RTI...3PReslTrans.jsp

 

got one guy sell 580k

[Rainman]

got one guy sell 580k

 

 

My house in hougang selling at 570k, which I only bought at slightly above 200k... paper rich only.

 

Imagine I upgrade to heartland condo, still got to pay thru my nose.

[Mustank]

My house in hougang selling at 570k, which I only bought at slightly above 200k... paper rich only.

 

Imagine I upgrade to heartland condo, still got to pay thru my nose.

 

Option 1) Sit on big pile of cpf marnie and feel rich

 

Option 2) buy big big condo at ulu location at low psf. rent out your hougang bto. use the rent to tong the condo and feel song but see no marnie in cpf but hey! marnie in cpf can even smell meh