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How much are you earning per annum?

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  #3331 (permalink)  
Old 27-12-2013, 08:58 AM
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Indeed. If he has the 20 years of experience as a landlord as he claims, he mustn't have learnt anything in those 2 decades.


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Originally Posted by Hedgie View Post
My friend - you sound entirely like a property agent, and a new one at that.

Read any analysis of experienced property investors and they will tell you that brand new condos, especially in the context of the premium we are seeing in today's market (30 to 50%), makes little sense for investors.

Buyers of new condos are finding that when they try to rent upon TOP, they are competing with hundreds of other rental units coming onstream at the same time at the same development, with slowing rental demand. This is reflected in various articles in the Straits Times recently.

Moreover, your target tenants in Hillview are very different from that in Bukit Timah, so why buy a Hillview condo for $1500 psf when there are resale Holland Village condos for $1300 to 1500 psf?

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  #3332 (permalink)  
Old 27-12-2013, 02:10 PM
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Notes from a resident and occasional landlord of a D23 Hillview condo, and now a resident of D10:

Hillview condos - Much cheaper than Bkt Timah and Holland V condos, also there are many freehold projects at Hillview going for slightly over 1000psf. Reasonably nice area with the Rail Mall and tree lined roads, and its hilly. There would likely be further price appreciation when the Hillview MRT station and the HillV2 shopping area opens in 2016. The downside of Hillview: far too many condos i.e. high supply which could be a reason why price did not go up so fast. Also, jams at Upper Bkt Timah. The owners and the tenants at Hillview are definitely not as affluent as those living in Bkt Timah and Holland V.

It was not difficult to rent out resale condos at Hillview. I managed to get tenants within a time range of <1 mth and 2 mths. But its slower nowadays.

To the other forum poster: If there is still no tenant for your resale condo for years, something must be very wrong with your unit or condo. Don't overgeneralise.

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  #3333 (permalink)  
Old 27-12-2013, 07:11 PM
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Thanks for the insights. My family and I are looking to buy (for stay) either one of these new condos - Foresque Residences, Eco Sanctuary or Tree House. Do you have a view on these condos? Which one will have the best price upside when the Hillview MRT station opens in 2016? We want to buy now before prices move up. Thanks in advance.


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Originally Posted by Unregistered View Post
Notes from a resident and occasional landlord of a D23 Hillview condo, and now a resident of D10:

Hillview condos - Much cheaper than Bkt Timah and Holland V condos, also there are many freehold projects at Hillview going for slightly over 1000psf. Reasonably nice area with the Rail Mall and tree lined roads, and its hilly. There would likely be further price appreciation when the Hillview MRT station and the HillV2 shopping area opens in 2016. The downside of Hillview: far too many condos i.e. high supply which could be a reason why price did not go up so fast. Also, jams at Upper Bkt Timah. The owners and the tenants at Hillview are definitely not as affluent as those living in Bkt Timah and Holland V.

It was not difficult to rent out resale condos at Hillview. I managed to get tenants within a time range of <1 mth and 2 mths. But its slower nowadays.

To the other forum poster: If there is still no tenant for your resale condo for years, something must be very wrong with your unit or condo. Don't overgeneralise.

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  #3334 (permalink)  
Old 27-12-2013, 09:04 PM
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Hi, earned $98k this year, inclusive of all bonuses. 29yo, male with pass degree from local uni. May I know how did I fare?
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  #3335 (permalink)  
Old 27-12-2013, 11:02 PM
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Good for you, and I hope it is sustainable. $98k for a 29 yr old puts you near the very top for your age cohort.

You can compare using this site:Benchmark Your Monthly Pay By Age & Gender 2011 | Salary.sg - Your Salary in Singapore

The database was based on 2011 figures, but even with increasing wages over the last two years, your $98k earned this year at a tender age of 29 should place you within the top 5%!

Should give your parents a big treat!

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Hi, earned $98k this year, inclusive of all bonuses. 29yo, male with pass degree from local uni. May I know how did I fare?
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  #3336 (permalink)  
Old 28-12-2013, 12:04 PM
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Quote:
Originally Posted by Unregistered View Post
Thanks for the insights. My family and I are looking to buy (for stay) either one of these new condos - Foresque Residences, Eco Sanctuary or Tree House. Do you have a view on these condos? Which one will have the best price upside when the Hillview MRT station opens in 2016? We want to buy now before prices move up. Thanks in advance.
In my opinion, all 3 are equally good and they will all appreciate very well when the Hillview mrt station opens. If you need to move in now, buy Tree House as it is already TOP. Next to TOP is Foresque. Eco will take some time to build.
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  #3337 (permalink)  
Old 28-12-2013, 12:28 PM
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Quote:
Originally Posted by Unregistered View Post
Thanks for the insights. My family and I are looking to buy (for stay) either one of these new condos - Foresque Residences, Eco Sanctuary or Tree House. Do you have a view on these condos? Which one will have the best price upside when the Hillview MRT station opens in 2016? We want to buy now before prices move up. Thanks in advance.
These 3 condos u mention are not near any future MRTs opening mid 2016 (Hillview, Cashew of Downtown Line 2). Its 1.5km from these MRTs, not walkable. Its 1.5km from Rail Mall which has already existed for years. The future HillV2 mall is at the other side of the road (Hillview Avenue/ Link). So, I am not certain that the 3 condos would appreciate in value significantly faster than the rest of SG, just because of the new MRT effect.

Go to an online map, 400m radius around a new MRT will tell u condos would significantly benefit from new MRT. Or, go to paid online resources to find out.
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  #3338 (permalink)  
Old 28-12-2013, 12:30 PM
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Quote:
Originally Posted by Unregistered View Post
In my opinion, all 3 are equally good and they will all appreciate very well when the Hillview mrt station opens. If you need to move in now, buy Tree House as it is already TOP. Next to TOP is Foresque. Eco will take some time to build.
This poster, is not me (the occasional landlord of D23)
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  #3339 (permalink)  
Old 28-12-2013, 12:46 PM
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There are no condo next to the Hillview MRT station. All condos in the vicinity require you to walk in the open air (if it rains, you're doomed) to the Hillview MRT station. As for the 3 new condos mentioned, most likely they will have shuttle services that will bring their residents from the condos to the MRT station, in comfort and shelter. So, even though they are a bit further, you won't get drenched in rainy or hot weather.

Quote:
Originally Posted by Unregistered View Post
These 3 condos u mention are not near any future MRTs opening mid 2016 (Hillview, Cashew of Downtown Line 2). Its 1.5km from these MRTs, not walkable. Its 1.5km from Rail Mall which has already existed for years. The future HillV2 mall is at the other side of the road (Hillview Avenue/ Link). So, I am not certain that the 3 condos would appreciate in value significantly faster than the rest of SG, just because of the new MRT effect.

Go to an online map, 400m radius around a new MRT will tell u condos would significantly benefit from new MRT. Or, go to paid online resources to find out.
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  #3340 (permalink)  
Old 28-12-2013, 01:00 PM
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If you are depending on that $30k pa to survive, I would advice that you downgrade to a small HDB flat immediately. $30k pa ($2.5k pm) is hardly enough for a couple staying in a small HDB flat not to mention living in an EC.

At least in the HDB, you don't have to contend with keeping up appearances. It is already bad enough to have to scrimp and save, but it would very bad to worry what your EC neighbors are thinking about you. That's probably why you lost weight.

It is good that you shared your story as it served as a reminder to all of us to prepare for our retirement. I feel that the many posters whose current passive income exceeds their expenses did not factor in the effects of inflation in their calculation. Within a few years, their expense will catch up with and then exceed their passive income.

I have revised my targeted passive income goal two times already from $80k pa to $100k pa and now at $120k pa. I had estimated that my retirement expense to be $80k pa. The $40k buffer will be eaten away in 8 years by inflation

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Originally Posted by Unregistered View Post
We are a 55 year old retired couple. We live in an old EC, no more loan. We can't afford to own a car. We only earn a passive income of $30k per year from stocks dividends. We take the bus or MRT to move around. We eat bread for breakfast and porridge for lunch and dinner. I lost weight after I retired. We need to manage our spendings carefully. Life is tough.
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