Poll For Cov Paid (2009)

[looneygas 13]

If u look at historical hdb enblocs, they have regularly involved 3/4 rooms rather than 1/2 rooms. The most recent was at Bukit Merah View for 3/4rooms.

More than 25yrs old doesn't necessarily increase chance of enbloc. So many flats older than 25yrs in Singapore but how many flats fall under enbloc annually?

[salavanun 0]

the whole of this yr no sers announced (enbloc). most of the enbloc if u reckee are the ones with walk up or few blocks sitting on big land with big open carparks. my prediction of next enbloc blk 321-323 clementi ave 5. 32years old blocks mainly 3/4 room sitting right beside clementi MRT ( very prime) and with very big carpark currently used for park n ride scheme. no lift or watsoever upgrading announced for these blocks. So any clementi wannabes look out. high potential

Edited August 17, 2010 by salavanun

[mel77 1]

anyone recently bought flat at bukit batok? now the cov so high.

Yup! Waiting for 1st appt. (Bukit Batok EA - Val: 495K COV: 50K)

My experience from the house hunting exercise, don't jump in. There are many folks out there testing the market, you bite they HAPPY and laughing to the bank. Seen 4, 5 & EA flats in Bukit Batok. Cannot understand the COV theory...... seen house with decent reno and well kept ask for 35 to 45K. Then some totally in a terrible state and condition still asking for 50K non-neg.

The best is this house where the owner ask for 120K COV and can see the agent also sian to market the unit. (other then the granite flooring and high floor, the unit needs overhaul in all areas)

[Jgal 0]

If u look at historical hdb enblocs, they have regularly involved 3/4 rooms rather than 1/2 rooms. The most recent was at Bukit Merah View for 3/4rooms.

More than 25yrs old doesn't necessarily increase chance of enbloc. So many flats older than 25yrs in Singapore but how many flats fall under enbloc annually?

sorry.. shld be 3/4 room flats.. i was thinking in terms of pte pty. ha haha .. and forgot to -1 room from hdb.

[dome81 0]

I hope it's all good.... closed the deal at mid $20K *ouch* it's really v near vivo + st james, will need to save cab $$$ and walk home next time from St. James.... Val was abt $320k.

Hi, i also secured Bukit Purmei at Blk 115 - 4A, Val at 460k but mine at level 11, 140k difference in val? :owow

[dome81 0]

the whole of this yr no sers announced (enbloc). most of the enbloc if u reckee are the ones with walk up or few blocks sitting on big land with big open carparks. my prediction of next enbloc blk 321-323 clementi ave 5. 32years old blocks mainly 3/4 room sitting right beside clementi MRT ( very prime) and with very big carpark currently used for park n ride scheme. no lift or watsoever upgrading announced for these blocks. So any clementi wannabes look out. high potential

My MIL used to stay at the Blk just behind the current Bus interchange, got enblock to the swimming complex side. There're plan for the blks there, once the new interchange and new block is up, you'll hear the news start coming.

[tweety3334 0]

COV now is crazy. I bought a 5 room (14 yrs flat) near Toa Payoh MRT. COV 70k.

I sold my Woodlands 5 room (8 yrs flat) near Admiralty MRT at $42k COV. This is quite high for Woodlands area.

[neubie 2]

MBT: Buy a flat you can afford

THE HDB resale market operates on free market principles where prices are negotiated on a willing-buyer, willing-seller basis. As such, buyers should carefully consider what they can afford, including the cash-over-valuation.

National Development Minister Mah Bow Tan gave this advice when replying to a question from MP for West Coast GRC, Madam Ho Geok Choo.

With the supply of 16,000 Build-to-Order (BTO) flats, he said this would help to lower the prevailing COV.

The substantial increase in new flats would cater to the needs of first-time home buyers, and siphon off some of the housing demand that is driving up resale flat prices, added Mr Mah.

He also said that first-time buyers can buy directly from HDB as well as the resale market, adding that the BTO flats to be offered this year would be augmented by 5,200 units under the Design, Build and Sell scheme and Executive Condominium Housing Scheme.

On measures to correct the imbalance in the HDB resale market, Mr Mah reiterated that HDB flats were intended for long-term owner occupation.

He cited how some buying HDB flats 'in anticipation of future price increases', despite not being in need of housing, being a contributing factor to the strong demand today.

'I advise buyers to be financially prudent and remember that HDB flats are meant for their long-term occupation,' said Mr Mah.

[dome81 0]

Ask Mr Mah to check on China market first la.... the youngster there can't afford to buy apartment at all, they need to combine 2-3 generation income in order to buy one.

[t_cheong 0]

Hi, i also secured Bukit Purmei at Blk 115 - 4A, Val at 460k but mine at level 11, 140k difference in val? :owow

dun worry about it, I viewed Blk 108 4th floor and Blk 111 2nd floor - the val was already abt 450K. How much COV u paid?

[dome81 0]

dun worry about it, I viewed Blk 108 4th floor and Blk 111 2nd floor - the val was already abt 450K. How much COV u paid?

I actually re-do the VAL, the earlier price is 460K + COV 42k = 502k purchase price.

Exercise OTP via HLE, but after doing the math for reno, cov, 50% cash proceed, not enough, so i'm switching to Bank loan and redo val just few days back, VAL now 470K, so my COV will be lower by 10K.

have you view any telok banglah drive area ? wanted that area but all those seller (mostly India unit) want 45k min.... unit is super duper condition that i need to do major renovation. Due to the new telok banglah mrt coming up, the COV demand is high there.

[chronograph 0]

I actually re-do the VAL, the earlier price is 460K + COV 42k = 502k purchase price.

Exercise OTP via HLE, but after doing the math for reno, cov, 50% cash proceed, not enough, so i'm switching to Bank loan and redo val just few days back, VAL now 470K, so my COV will be lower by 10K.

have you view any telok banglah drive area ? wanted that area but all those seller (mostly India unit) want 45k min.... unit is super duper condition that i need to do major renovation. Due to the new telok banglah mrt coming up, the COV demand is high there.

Can u explain what's the 50% cash proceed?

Taking HLE only requires you to pay COV by cash and the rest can be deducted thru CPU, u need to set aside cash for stamp fees as well but can be reimbursed thru CPF later.

If u take bank loan, there is a 5% of val in cash, so u need to set aside 23.5k.

[dome81 0]

Can u explain what's the 50% cash proceed?

Taking HLE only requires you to pay COV by cash and the rest can be deducted thru CPU, u need to set aside cash for stamp fees as well but can be reimbursed thru CPF later.

If u take bank loan, there is a 5% of val in cash, so u need to set aside 23.5k.

50% Cash proceed = Sold my 3rm at jurong for profit, i'll have to pay 50% of the cash proceed (profit) on top of my CPF, COV for 2nd unit.

Etc -

CPF 90K

COV 42k

CP - 50k

Total : 183k - purchase price - 319k (Loan from HDB)

If i take bank loan, yes i need to upfront 5% cash but not 50% cash proceed.

i can have more cash but higher loan, Pro & Con on this arrangement/switch.

Above compute exclude the stamp fee / legal fee etc etc

[payton 0]

Just got it

Toh Guan Rd

Apartment Type - EA (144sqm)

VAL - $585k

COV - $61K

[payton 0]

To add-on, got to over-haul whole unit but already tight on budget.

So need to join renotalk and do more homework in reno liao.