Living in JB

[wuqi256]

Bros here, just got a very funny comment from one of my mom's friends(RC member) when my mom accidentally let on the fact that we are all moving.

According to this learned friend, we locals cannot buy any overseas properties at all. She is spreading panic amongst the aunties even at the coffeeshop. She claimed that those who bought overseas properties and are found out will have their flats confiscated without recourse by HDB. Claimed this is the newest law and no one should buy property out of Singapore, JB included.

If this is really the case, then shouldn't folks who have bought places in US/UK/AU, etc be all panicky now if they still have HDB flats here? I even know of a PRC who was educated for free by our dear government, was not bonded, became PR and in the end after that went over to Australia, all the while renting out his 5 room flat in Jurong area for years. He is still doing so as far as i know.

How about those who came from overseas then, do they need to give up their residences in their respective countries in order to buy a HDB flat? What kind of logic is this, i told my mum not to listen to her as we know this woman's own son is in Canada and not coming back.

She even claimed our government has links all over the world and can check SG ownership for all properties in the whole world. Global jurisdiction? Wow. More power to her i say!!

Really hypocritical to ask folks not to move and scare them with fake stories/claims when her own children has moved on and left her alone here.

 

[wuqi256]

I googled for it, the only possible way is here:

http://www.hdb.gov.sg/fi10/fi10206p.nsf/WPDis/Investing in Private PropertiesPolicies?OpenDocument

But this only applies to those who took the HDB grant, etc and restricts for the first 5 years of ownership, once one is out of the 5 years, its basically not an issue anymore. You can still sublet the place, just let HDB know.

 

[michaely]

From the scenario you have described, its understandable and actually makes sense financially. You are just catering for extingencies.

For travel to and fro JB, you can actually take bus CW3 from Bukit Indah to Jurong East and then take MRT/drive from a car park there on a daily basis. Actually to stretch dollar even further, Thailand is also worth considering however foreigners cannot own land there. You can only own condos but interestingly not the land it is built on.(90 year leases)

Hi Bro Wuqi

That's why me now in a dilemma, I have 2 options:

1) Buy a 4-rm flat at the current crazy prices, a pigeon hole with a balance lease of about 80 years and rent it out at about $1000/mth.

or

2) Buy a Horizon Hill unit at about 1/2 or 1/3 the price of a 4-rm flat, freehold landed property but no rental income.

Really can't make up my mind, please give me some advice.

Thanks in advance!

 

[toyohon]

michaely
Why not do many has done? Rent out your HDB in Spore and live in your landed home in JB?

 

[michaely]

michaely
Why not do many has done? Rent out your HDB in Spore and live in your landed home in JB?

Hi Bro Toyohon

Thank you for your suggestion.

To be honest, how I wish I can do what you suggested, have 2 properties, stay in one, rent out the other one.

But my cash on hand is just enough to pay for the Cash-over-valuation (if I buy a HDB) or pay for the 20% down-payment (if I buy the unit at Horizon Hill).

Moreover, I don't want to over-leverage, I'm already in my mid-30s and at the look of things happening in this "hotel" .......... opps! country, one has to be mentally prepared to be jobless after 40.

Thank you!

 

[toyohon]

In that case, depending on your family's needs/background (children (school going?), old folks, wife), you may hold off your HDB purchase until the market cools down. If in urgent need of a home, and depending on circumstances, you can consider a landed home in JB first while building up your CPF nest for a HDB later on.

 

[wuqi256]

Hi Bro Wuqi

That's why me now in a dilemma, I have 2 options:

1) Buy a 4-rm flat at the current crazy prices, a pigeon hole with a balance lease of about 80 years and rent it out at about $1000/mth.

or

2) Buy a Horizon Hill unit at about 1/2 or 1/3 the price of a 4-rm flat, freehold landed property but no rental income.

Really can't make up my mind, please give me some advice.

Thanks in advance!

I understand, no matter whether SG/JB, you can actually rent out some of the rooms. This is especially good for Horizon because you have 4 rooms, even for the terraces. So you can still have some rental income, its a way of getting what you want and still have some passive income subsidizing your daily expenses.

 

[wuqi256]

In that case, depending on your family's needs/background (children (school going?), old folks, wife), you may hold off your HDB purchase until the market cools down. If in urgent need of a home, and depending on circumstances, you can consider a landed home in JB first while building up your CPF nest for a HDB later on.

Good points brought up by toyohon, its a good idea. Maybe even rent out the JB home first and live there while working and saving up. You might find that you don't even need the HDB later.

 

[whoami]

Sure no problem, i actually saw a few guys selling for around $530k-550k when i googled yesterday. Understand of course, folks needs some fast bucks. Oh, there are a few projects, for the Eco Setia garden, you can still get single storey terraces at about 200 plus k?

http://www.spsetia.com.my/setia_eco_garden/pfs_messius.htm

Yes, some over at Horizon selling subsale prices. But whats the chances of renting out? If I ended up having a landed one, I prefer to rent out the 1st instance. Sillyporean cant buy single storey terraces/SemiD. Bungalow too expensive.

 

[wuqi256]

Yes, some over at Horizon selling subsale prices. But whats the chances of renting out? If I ended up having a landed one, I prefer to rent out the 1st instance. Sillyporean cant buy single storey terraces/SemiD. Bungalow too expensive.

You are right, sorry about that. I missed out the single storey part for Setia as i mixed this up with their 2 storey ones. So alternative is either Danga developments or subsale in Horizon.

Chances of rental according to both the agents and the developer quite high with average rental by 2-4 months time. Rental period is normally for 2 years. Your chances will be good with a terrace or a cluster unit.

 

[johnny333]

Chances of rental according to both the agents and the developer quite high with average rental by 2-4 months time. Rental period is normally for 2 years. Your chances will be good with a terrace or a cluster unit.

I wonder if there are Sporean out there who have become "proffesional" landlords

Can buy a few properties & rent out. As their capital increases they can buy more properties. With the trend of a more crowded Spore, you'll have more Sporeans who are looking for alternatives in JB

 

[swampthing]

I would say you have to be quite optimistic if you want to rent out a property in JB. Very few takers.

 

[whoami]

Chances of rental according to both the agents and the developer quite high with average rental by 2-4 months time. Rental period is normally for 2 years. Your chances will be good with a terrace or a cluster unit.

Over at Danga, we can understand why theres demand for rental especially for apts. But for horizon area, just wondering is there any nearby mega projects coming up? Because if theres isnt, why would one want to rent a landed property there. Just curious...

That day just happened to pass by Taman Sutera. I tell u this. Real beautiful those houses! Found out it was a joint venture btw Msia Co and our local developers CapLand and KepLand. Waste that opportunity! Currently only a handful of units left and mind u all going for above 1/2 million ringgit for corner terraces unit!

 

[cockcansing]

That day just happened to pass by Taman Sutera. I tell u this. Real beautiful those houses! Found out it was a joint venture btw Msia Co and our local developers CapLand and KepLand. Waste that opportunity! Currently only a handful of units left and mind u all going for above 1/2 million ringgit for corner terraces unit!

I find that place to be abit out as is further away and not really connected to main highway. The finishing is nice better than Nusa Idaman.

 

[whoami]

I find that place to be abit out as is further away and not really connected to main highway. The finishing is nice better than Nusa Idaman.

Yes. Got to agree on that. But its better than those at Setia or Bukit Indah.
Although its further away from the two links and yet its almost 99% sold out!I love the roof top garden concept at T Sutera! Tats what I love about our local developers. Very artistic..and of course it comes with the price. :(

 

[cockcansing]

Yes. Got to agree on that. But its better than those at Setia or Bukit Indah.
Although its further away from the two links and yet its almost 99% sold out!I love the roof top garden concept at T Sutera! Tats what I love about our local developers. Very artistic..and of course it comes with the price. :(

Yes, the roof top garden was the attraction when I was there a few months ago. Almost book the place, went around house shopping and I took the Horizon hills. You can make the roof top garden is you want in any place if you want to renovate it that way.

 

[wuqi256]

Over at Danga, we can understand why theres demand for rental especially for apts. But for horizon area, just wondering is there any nearby mega projects coming up? Because if theres isnt, why would one want to rent a landed property there. Just curious...

That day just happened to pass by Taman Sutera. I tell u this. Real beautiful those houses! Found out it was a joint venture btw Msia Co and our local developers CapLand and KepLand. Waste that opportunity! Currently only a handful of units left and mind u all going for above 1/2 million ringgit for corner terraces unit!

Hi bro, are you talking about Tanah Sutera? Its also by Captialand, etc. Horizon hill and Tanah Sutera are just 7 minutes away from each other, both at the other extremes from the central round about.

A new Giant, Tesco are being built there at the round about. 10 minutes from there is the new Legoland and they are also building an international school. Its also one of the closest points to reach the major hospitals as well as being one of the most accessible via the 2nd link.

I was considering there as well and went there to visit after suggestions, there are a couple of semi-Ds there still about 500k plus.

Its a good investment though as there are so many shops, even KTVs etc. Best of all, its very near to the gargantuan Sutera mall as well as Carrefour. Furniture around that area is very cheap and there is a new "Ah Koong fish ball" around the area. Furniture as well as aircon stuff are also very worth to look at. Caution, you will feel the urge to buy the best furniture once you look at the pricing and quality.

One thing though, the road leading up to the Tanah Sutera place after the round about is pretty jammed up on the weekends although should be much better during weekdays.

Very nice area and you are right, seems our SG companies saw the light before most of us and getting in on the action.

 

[wuqi256]

There are 2 places actually, one is Tanah Sutera, one is Taman Sutera Utama. They also offer terraces with roof gardens and sizing is quite nice too. All very nice, i also visited the Nusa Bestari 2.
All of them, from Horizon Hills to Tanah Sutera to Taman Sutera Utama are within 7-10 minutes of each other.

A lot of nice places worth looking for, i even visited some of the lesser known/valued properties,most were taken up and i saw a lot of SG cars in them. Every single estate has at least 6-10 SG cars inside so it.

Security seemed pretty tight at most of them, i couldn't even drive straight in without leaving my pass, purpose of visit, etc.

 

[wuqi256]

Yes, the roof top garden was the attraction when I was there a few months ago. Almost book the place, went around house shopping and I took the Horizon hills. You can make the roof top garden is you want in any place if you want to renovate it that way.

Hey bro cockcansing, yes its pretty nice. I went there twice but still preferred a resort area for now. I think both projects are pretty good, have you got your furniture in already? Aircon sets and furniture can get for very very very good prices in the rows of shops on the way to Tanah Sutera. Good food too!

Have you moved in already? Went to oversee some works and saw quite a few SG registered cars in some of my neighbours place. I am planning to buy a MY car soon, need to pay cash though as loans need a local to be your guarantor.

 

[cockcansing]

My place will be ready only in June so I will be shifting there towards the end of the year. I am planning to buy a malaysian car too but not in a hurry.