Monday, December 1, 2008

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Newton Edge @ Makeway Road : Buyer's Review

Just visited the Newton Edge showflat today. My honest review:
1. Location - Very good, about 8 min walk to Newton MRT station and Newton Hawker Centre
2. Surrounding - Acceptable, residential zone
3. Car Park - 1 unit to 1 lot. OK given that you can take the MRT
4. Price - Reasonable but not yet a steal
5. Take-up: About 30%-40% sold, mostly smaller units going at about $6xxK reflecting a cautious market, so don't expect to do a profitable subsale quickly.
6. TOP 2011, with DPS only need 20% downpayment (5% cash + 15% CPF)
7. Studios going at $6xxK attractive for small-budget investors but note that these units either face east or west sun.

Conclusion: For eager property investors who are afraid to miss the boat, maybe OK to buy but for the die-hard bargainers who don't mind missing the boat altogether, can wait for market to plunge further.

Extracted from the Singapore Property Forum

Brief Description of Newton Edge @ Makeway Road

Private New Launch Project 29 November 2008
Prices Starting from high $5xxk up
Price Starting from $11xx psf to $13xx psf. Excellent investment development.

Include 1 / 1+study / 2 / 2+Study / 2 bedroom penthouse / 3 bedroom penthouse / 1 unit 4 +1 strata house
Register your interest now and Get earliest VIP invite for showflat viewing

Freehold development with private pool and two towers of 104 units, sited at District 9.

May also want to read:
Fire Sale: Owners Dump Condos
The days of Cheap, Easy Credits chasing after property is OVER!
When the bubble of greed and fear burst, guess who suffer?
Property Investment Tip: Don't put all your eggs in one basket
HDB Resales: West Sees Highest Price Increase


Anonymous said...

There is no boat to miss in Singapore because i can simply stay in my humble HDB which offer one of the best in convenience, near MRT, affordable, no bay window/planter boxes/PES, spacious rooms, no dark kitchen with no cloths to hand and dry, not $400/500 monthly fees and a host of other amenities. With the looming major layoffs, corporate bankrupticies, falling construction costs, possible collapse of US dollar and the danger of a sharp slowdown in India/China (very poor market sentiments), paying over $1k psf is daylight robbery. I would rather miss or forget about the boat than risk having the boat sailing in uncharted waters and you get that sinking feeling, stress ups and regrets, regrets! So unless you are one of those speculators taking advantage of the DPS with alot of monies to throw for the downpayment for small space to rent to the angmohs, let us be contended and live simply!

Anonymous said...

Not worth buying... ave is S$13XX per sq ft. For 1 bed room... freaking over priced.. expect to tumble.

Anonymous said...

yep, that areas used to go for $700 to $800 psf 2003-04 .. Newton Meadows went for $5xx psf for example.

Anonymous said...

agents are still calling saying that the 75% have been sold which is a load of BULL.

Newton will drop to $700 next year so the suckers who have bought wished they hadn't.

Anonymous said...

Newton Edge has sold only 34 units out of the 104, so it's only about 30% sold, not at breakeven level yet.

Realist_08 said...

i think S$13xx per sqft is way too expensive.

But they are right in saying that people did in fact snap up more than 80% of those units.

As of today, Dec 22 2008, there are only about 20 over units left out of the 103 units available.

Still many buyers out there it seems.

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