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Once again, ST manages to highlight some people who seem to have no limit to the amount of money they have. Plonking down money for a 2nd investment property and buying a 4-bedroom unit at $1.6 million seem like everyday affairs, even though my view is that people may be over-paying and the amount of leverage they have to bear. Or maybe everyone paid with cold, hard cash....

The Straits Times
www.straitstimes.com
Published on Mar 23, 2013
Brisk sales at Bartley Ridge on launch day
200 units snapped up as developers offer 15% discount that offsets ABSD

By Rachel Scully

THE Bartley Ridge condominium being built near the upcoming new Bidadari township development proved popular with buyers on launch day yesterday.

The Straits Times understands that more than 200 units were sold by 4pm.

About 900 people turned up with their agents at 11am to enter a ballot for flats at the 99-year leasehold project between Serangoon and Paya Lebar.

Developers Hong Leong Holdings, City Developments and TID released 300 units under phase one.

The project will have 868 units in all.

They offered an early bird discount of 15 per cent, which will offset the additional buyer's stamp duty (ABSD).

The smallest one-bedder at 441 sq ft is priced from $580,000 while the largest dual-key four- bedroom unit costs $1.97 million for 2,120 sq ft.

Average per square foot (psf) prices for the different unit types range from $930 to $1,350.

First-time buyers Shien Ang and wife Sharon Mok, who both work in the banking industry, bought a four-bedroom unit at $1.6 million.

Mr Ang, 34, said: "The location is pretty central and there are good schools nearby.

"I'm hoping to send my son to St Andrew's, which is where I studied, and it'll be convenient for him to travel there."

The father of an 18-month-old son noted that the pricing was more affordable than other condos like Sennett Residences in Potong Pasir.

Ms Mok added: "Our incomes did not qualify us for an HDB flat or executive condo.

"With a bigger unit, our parents can move in with us in future," said the 35-year-old.

The couple have been living with Mr Ang's mother in a semi-detached house in Sembawang.

Fellow buyers Bob Tang, 41, and his wife Annie Ooi bought a one-bedder at $600,000.

This is their second investment property after buying a three-bedroom unit at Bartley Residences, another condo by the same developers across the road.

"I like this place because the pricing is reasonable for a property so close to the MRT," he said.

The couple paid about $1,350 psf for their unit.

They live in Marine Parade and are keen on investing in city- fringe properties.

Nearby Bidadari, the site of an old cemetery, will be developed into a residential area for 40,000 people with more than 12,000 high-rise homes.

The Bartley Ridge condo is a two-minute walk from Bartley MRT station on the Circle Line.

"The nearby Pan-Island Expressway, Central Expressway and Kallang-Paya Lebar Expressway also allow for easy accessibility to the city," said Ms Betsy Chng, head of sales and marketing at Hong Leong Holdings.

The expected temporary occupation permit date is 2018.

rjscully@sph.com.sg

Hi MW,

I have long given up minding others business. Singaporeans (IMO) are very rich be they on their own ability or helped by easy credit facilities.

While we may have discipline in managing our own financials, we cannot speak for others and dictate what others should be doing.

I have never been a believer in over depending on other people's money. However, in the past decade or two, those who have used it and using it correctly, they have achieved fantastic ROE due to asset inflation.

Hence I have always been a GG.

Cheers

(23-03-2013, 07:15 AM)Musicwhiz Wrote: [ -> ]Once again, ST manages to highlight some people who seem to have no limit to the amount of money they have. Plonking down money for a 2nd investment property and buying a 4-bedroom unit at $1.6 million seem like everyday affairs, even though my view is that people may be over-paying and the amount of leverage they have to bear. Or maybe everyone paid with cold, hard cash....

The Straits Times
www.straitstimes.com
Published on Mar 23, 2013
Brisk sales at Bartley Ridge on launch day
200 units snapped up as developers offer 15% discount that offsets ABSD

By Rachel Scully

THE Bartley Ridge condominium being built near the upcoming new Bidadari township development proved popular with buyers on launch day yesterday.

The Straits Times understands that more than 200 units were sold by 4pm.

About 900 people turned up with their agents at 11am to enter a ballot for flats at the 99-year leasehold project between Serangoon and Paya Lebar.

Developers Hong Leong Holdings, City Developments and TID released 300 units under phase one.

The project will have 868 units in all.

They offered an early bird discount of 15 per cent, which will offset the additional buyer's stamp duty (ABSD).

The smallest one-bedder at 441 sq ft is priced from $580,000 while the largest dual-key four- bedroom unit costs $1.97 million for 2,120 sq ft.

Average per square foot (psf) prices for the different unit types range from $930 to $1,350.

First-time buyers Shien Ang and wife Sharon Mok, who both work in the banking industry, bought a four-bedroom unit at $1.6 million.

Mr Ang, 34, said: "The location is pretty central and there are good schools nearby.

"I'm hoping to send my son to St Andrew's, which is where I studied, and it'll be convenient for him to travel there."

The father of an 18-month-old son noted that the pricing was more affordable than other condos like Sennett Residences in Potong Pasir.

Ms Mok added: "Our incomes did not qualify us for an HDB flat or executive condo.

"With a bigger unit, our parents can move in with us in future," said the 35-year-old.

The couple have been living with Mr Ang's mother in a semi-detached house in Sembawang.

Fellow buyers Bob Tang, 41, and his wife Annie Ooi bought a one-bedder at $600,000.

This is their second investment property after buying a three-bedroom unit at Bartley Residences, another condo by the same developers across the road.

"I like this place because the pricing is reasonable for a property so close to the MRT," he said.

The couple paid about $1,350 psf for their unit.

They live in Marine Parade and are keen on investing in city- fringe properties.

Nearby Bidadari, the site of an old cemetery, will be developed into a residential area for 40,000 people with more than 12,000 high-rise homes.

The Bartley Ridge condo is a two-minute walk from Bartley MRT station on the Circle Line.

"The nearby Pan-Island Expressway, Central Expressway and Kallang-Paya Lebar Expressway also allow for easy accessibility to the city," said Ms Betsy Chng, head of sales and marketing at Hong Leong Holdings.

The expected temporary occupation permit date is 2018.

rjscully@sph.com.sg

Hi GG,

Thanks. I agree with you on not using OPM. As for minding other people's business, I agree with that too. Sorry for being cynical here - but I feel in Singapore there doesn't seem to be an aversion to being showy and ostentatious, and I guess that's just not me. But yes please do feel free to ignore my comments or admonish me if you feel they are over the line. I am not immune to being human.

Hi MW,

Everyone is entitled to their opinion. I have always tried to educate my kids - everyone has a right, right to do anything. However, we have to constantly remember the responsibilities and consequences that come with the rights.

There are plenty of things in life that are binary and it is as simple as that. It is usually when we get to the in-between, ie the grey area, then it becomes complicated.

I am pretty sure that after our years of investment training, we have become more cold blooded and binary. Don't know if you feel that way but I certainly do as I tend to be more straight arrow and get to the point.

GG

(23-03-2013, 09:43 AM)Musicwhiz Wrote: [ -> ]Hi GG,

Thanks. I agree with you on not using OPM. As for minding other people's business, I agree with that too. Sorry for being cynical here - but I feel in Singapore there doesn't seem to be an aversion to being showy and ostentatious, and I guess that's just not me. But yes please do feel free to ignore my comments or admonish me if you feel they are over the line. I am not immune to being human.

I am pretty sure that after our years of investment training, we have become more cold blooded and binary. Don't know if you feel that way but I certainly do as I tend to be more straight arrow and get to the point.


Hi,

allow me to offer my honest opinion.

I agree that to succeed in stocks, one should not develop feelings for our companies which we invest in. One should only think of the good of his own money and nothing else. Cos that is what that matters, and cos that is our hard earned money we are using.

But before my purchase(i believe you guys would also do so, but maybe to a different extent), I would spend at least 3-6months reading up anything and everything on the companies and do site visits. One may inadventantly develop some feelings for the companies after so much exposure to the company details.

But it is the price which would dictate one to exit from the stock, whether such feeling still exists or not. If there is no set target, it would be going on a tour with no destination.

So I agree with GG to some extent on "we have become more cold blooded and binary."

But I totally refuse to let this interfere or have a hand in my day to day living. In people to people relationships, its hard to adopt such a living methology. I think all people are by nature kind hearted but shaped by their particular circumstance to be the kind of people they become.

If one allows total erosion of this inherent good nature by his investment methodologies and mentalities such that this erosion becomes permanent, then i think even if he achieves billionaire status, its useless.

Thus, I think, after one has tasted success, it is more fruitful to use the excess proceeds from our investments to make our lives and the lives of those not so fortunate, better. As it is this very human nature deep within us which makes life whole and meaningful.

(23-03-2013, 09:50 AM)greengiraffe Wrote: [ -> ]Hi MW,

Everyone is entitled to their opinion. I have always tried to educate my kids - everyone has a right, right to do anything. However, we have to constantly remember the responsibilities and consequences that come with the rights.

There are plenty of things in life that are binary and it is as simple as that. It is usually when we get to the in-between, ie the grey area, then it becomes complicated.

I am pretty sure that after our years of investment training, we have become more cold blooded and binary. Don't know if you feel that way but I certainly do as I tend to be more straight arrow and get to the point.

GG

(23-03-2013, 09:43 AM)Musicwhiz Wrote: [ -> ]Hi GG,

Thanks. I agree with you on not using OPM. As for minding other people's business, I agree with that too. Sorry for being cynical here - but I feel in Singapore there doesn't seem to be an aversion to being showy and ostentatious, and I guess that's just not me. But yes please do feel free to ignore my comments or admonish me if you feel they are over the line. I am not immune to being human.

"more cold blooded and binary" is a merit in investment IMO.

As paullow highlighted, as long as we don't bring the mindset to day-to-day living, it should not be issue.

As for OPM, I am taking it as derivative and future i.e. tools with specific purpose. We should use them when due.

Agree with Paul. There really needs to be a lot more optimism and kindness in our world. And if we are fortunate to be financially independent, then all the more we should be nicer people.

Only thing I don't agree is on leverage. Wise leverage for investments always makes sense. See the balance sheet of most companies and there is always some good use of leverage there. Why do u think all the companies are busy issuing bonds now? Cheap leverage. And if we are able, why not do the same. Leverage for property in less frothy markets, for equities for bonds, even for pe. All good to me. Just keep leverage ratio manageable. At current int rate of 0.8% or so, I am willing to gear up to 35% of all assets as loans. If int rate rise to 3%, then maybe 30%. If 5-6% int, then no loans makes sense except maybe 26-27% for property mortgages. Any higher, and the economic situation will be really strange and probably need massive relook at what is going on....

(23-03-2013, 09:50 AM)greengiraffe Wrote: [ -> ]Hi MW,

Everyone is entitled to their opinion. I have always tried to educate my kids - everyone has a right, right to do anything. However, we have to constantly remember the responsibilities and consequences that come with the rights.

There are plenty of things in life that are binary and it is as simple as that. It is usually when we get to the in-between, ie the grey area, then it becomes complicated.

I am pretty sure that after our years of investment training, we have become more cold blooded and binary. Don't know if you feel that way but I certainly do as I tend to be more straight arrow and get to the point.

GG

Yes GG, perhaps you've got a point on that - cold-blooded and binary. Though I would not feel as though I had sufficient knowledge to feel so. But I do admit the feeling is a mix of that, as well as perhaps (upon self-reflection) some hidden regrets on the paths I had taken to get to where I am. It's probably going to sound "emo" but it runs along the lines of - "what if I had studied harder", or "what if I had invested earlier" etc.

While everyone does have their own right to do what they want, I would think that society's norms and expectations do temper that fire somewhat, and you'd be surprised that people in this tiny island are more "robotic" than you can imagine - we simply observe what others are doing and emulate or covet. There is less and less independent thinking and bankers/financiers who want us to part with increasingly more money re-define the idea of "affordability" so as to encourage that. Not to say that our current generation is profligate, it is more a matter of how our perceptions of wealth, affordability and "expensive" have changed over time, and I feel it is tipping over to "unhealthy" (I am referring to conspicuous consumption patterns).

And yes, I also hope to educate my kid properly and make sure she has the proper education not just in money, but also in life.

(25-03-2013, 07:13 AM)Musicwhiz Wrote: [ -> ]

(23-03-2013, 09:50 AM)greengiraffe Wrote: [ -> ]Hi MW,

Everyone is entitled to their opinion. I have always tried to educate my kids - everyone has a right, right to do anything. However, we have to constantly remember the responsibilities and consequences that come with the rights.

There are plenty of things in life that are binary and it is as simple as that. It is usually when we get to the in-between, ie the grey area, then it becomes complicated.

I am pretty sure that after our years of investment training, we have become more cold blooded and binary. Don't know if you feel that way but I certainly do as I tend to be more straight arrow and get to the point.

GG

Yes GG, perhaps you've got a point on that - cold-blooded and binary. Though I would not feel as though I had sufficient knowledge to feel so. But I do admit the feeling is a mix of that, as well as perhaps (upon self-reflection) some hidden regrets on the paths I had taken to get to where I am. It's probably going to sound "emo" but it runs along the lines of - "what if I had studied harder", or "what if I had invested earlier" etc.

While everyone does have their own right to do what they want, I would think that society's norms and expectations do temper that fire somewhat, and you'd be surprised that people in this tiny island are more "robotic" than you can imagine - we simply observe what others are doing and emulate or covet. There is less and less independent thinking and bankers/financiers who want us to part with increasingly more money re-define the idea of "affordability" so as to encourage that. Not to say that our current generation is profligate, it is more a matter of how our perceptions of wealth, affordability and "expensive" have changed over time, and I feel it is tipping over to "unhealthy" (I am referring to conspicuous consumption patterns).

And yes, I also hope to educate my kid properly and make sure she has the proper education not just in money, but also in life.

Hi MW,

I recently became a big fan of Guinness Extra Stout and chance upon an ad by HK singer George Lam:

http://www.youtube.com/watch?v=0-tbnhzZB4Y

做人如果黑白分明，又怎会举棋不定？

The ad doesn't mean much to me when I was young but now it seems so meaningful. What's your opinion on it?

Have a light one on this.

Cheers
GG