Private properties looking attractive

Business @ AsiaOne

Private properties looking attractive
What to look out for when hunting for that perfect condo or house.
Fri, Dec 26, 2008
my paper
By Shila Naidu

THE recession has resulted in a 25-per-cent fall in private- property prices from their market peak, and with prices expected to dip further next year, there may be opportunities to pick up some bargains.

However, buyers of properties - whether for investment or occupancy - should do their homework before committing to such big-ticket items.

Here are 10 tips to keep firmly in mind.

1 CONSIDER LANDED
The executive director of HSR Property Group, Mr Eric Cheng, feels that if buyers are willing to fork out $1.2 million to $1.3million for a condominium, they should consider buying landed property instead.
Due to land scarcity in Singapore, there is always more demand than supply for landed property, which is not the case with condos, said Mr Cheng.

2 INSTALMENT RESERVE
Mr Cheng said it is important to invest within your means. Have a reserve of at least one year's worth of instalments in case of shocks, like a loss of income.

3 LEASING OR LIVING?
Mr Arvin Sylvester Lim, division director of Century 21 SHL Realty, said it is important to be sure if you plan to live in the property or rent it out.
If you are making it your home, the equation is simple: Find something that you like and can afford.
If you are looking to invest and rent out, do your research to see if there is good demand in an area, and if the rent will be enough to cover the instalment payment and still allow a profit.

4 DON'T WAIT TOO LONG
While one should hold back until one finds something ideal, Mr Lim does not encourage overspeculating on trends.
"Buying a house is not like buying a car. The moment you drive the car...the value drops, but with property the value can go up or down," he said.
Even though prices are expected to fall further, "a home is a must", Mr Lim said. He advises against pegging buying one to unpredictable market movements.

5 MAKE OFFERS FAST
Buyers who bought too many properties or can't afford to keep up with payments, given the weak economy, will be selling off their investments now, said Mr Shannan Govindarajoo, marketing manager at ERA.
He suggests you start looking and making reasonable offers as he thinks more buyers will be entering the market, which could mean prices for these "must-sell" properties may rise.

6 CHECK MASTER PLAN
Look at the Urban Redevelopment Authority's master plan and invest where the Government is pumping in money, said Mr Govindarajoo.
For instance, he thinks those interested in the Marina area should strike now, as prices are down by 40 per cent, compared to last year's.
Mr Lim said investing in property in that area will reap great returns when the integrated resort is ready as "a lot of the management staff will be living there, so rentals will be high".

7 SHOP FOR A LOAN
Banks are now becoming more cautious with making home loans and how much they are willing to lend, said Mr Govindarajoo.
He advised shopping around for a good home loan first, so that you do not commit yourself to a seller before knowing how much you have to work with.

8 PRICE VS VALUATION
Check the valuations of the property you are considering at different banks to make sure you?re getting a good deal, said Mr Govindarajoo.

9 OLDER CONDOS
Mr Parthiban Sadagopal, a Prop- Nex realtor, suggests buying a condo "between seven and 10 years old in the outskirts", like Pasir Ris or Tampines.
Judging from the trend seen after the 2003 recession, such condos are good buys for living in and investment, as you could hope to buy one at $400,000 to $500,000 now and sell it for up to $800,000 when the economy picks up.
Renting it out could fetch $3,000 a month as well.

Greenery in Serangoon Gardens

The eighties saw Singapore enjoying the fruits of the Government's efforts to green up the island. As Singapore made considerable progress on the economic front, so did its reputation as a Garden City. Meandering tree-lined roads interspersed with lush parks and gardens created a unique green ambience that drew accolades far and wide.
Not one to rest on its laurels, the Government then embarked on a programme to fine-tune the green programme for quality as well as ensure efficient management of resources in maintaining this tropical oasis. As part of on-going efforts to enhance the island's green ambience, planting policies were focused on provision of shade along walkways and roadsides.

To create a garden effect, fruit trees, flowering and fragrant plants were planted in parks, residential suburbs, schools and in the grounds of institutions such as hospitals, police stations and community centres. Due to competing land uses for residential, industrial and commercial developments, creative urban planning came into play to ensure optimal usage of land.

Park planning had to factor in elements such as location of population centres and accessibility. At the same time, park designs had to be innovative, stimulate creativity as well as capture the imagination of the community. Where natural assets existed, they were capitalised upon and enhanced. Where they were lacking, much effort was put into creating an identity to provide a point of differentiation that will appeal to a wide spectrum of the population. This included installation of sculptures, challenging playgrounds and creating habitats to attract wildlife such as birds to the parks....for more information, please visit Singapore, The Garden City

Here in Serangoon Gardens Estate, we too have some parks and gardens to be proud of....

Serangoon Gardens in the 60s......

Special thanks to Johnny Ho for the above two photos of Serangoon Garden Estate, sent to him by his friend Derek Lehrle and taken in the early 60s.

More of such pictures can be viewed at Memories of Singapore

Can you identify exactly where these 2 locations are now?

Contributions (old pics) from anyone will be appreciated.

Please email to: fredkris@singnet.com.sg

You are aslo welcome to share your memories of Serangoon Gardens!

(just click on "comments" below)

What Do You Think Of This View?

When I first saw this picture, it immediately gave me a very warm feeling about living here in Serangoon Gardens..... the friendly neighbourhood, a cosy 'village' with its laid-back charm. Maybe, a place where I would like to 'retire' some day.
I don't know why...but there is a certain character about this estate, that keeps me wanting to come back for more.....
Well, what do you think?

NOTICE BOARD (front of Coffee Bean @Central)

Hello, did you know this is a very popular board for anyone who wants to sell anything.....?

Or if you have anything to announce? Best of all, IT IS FREE!! Go, check it out!

You may be able to find out about some 'garage sale' somewhere, cleaning services, tuition for your kids.......

Chomp Chomp - The Iconic Makan Centre!

Let's talk about the legendary Chomp Chomp Food Centre, which sells really 'shiok' and yummy food! The hawkers nicknamed the place "Chomp Chomp" (probably because that was the sound of eating which many happy and satisfied customers made, while 'chomping' down their food!), and since then it has been fondly referred to as Chomp Chomp. The food centre is well known for its fried chai tow kuay, popiah, hokkien mee, barbecued-chicken wings and seafood.

HISTORY:
In the '60s, the stalls at Chomp Chomp were originally located at where the current bus-stop and public carpark now stands, opposite the present hawker centre. Then in 1972, the stalls were moved to its present location and adopted the name "Chomp Chomp". As the hawkers gained fame for their varied and tasty dishes, the name became an appropriate onomatopoeia, reflecting the sound of frenzied eating.

The open-air food centre underwent renovations which saw a roof set in place by 1 April 1998. Plans for this had been discussed since September 1996 in conjunction with discussions of the ownership of stalls. Although simple in design, Chomp Chomp remains a key landmark in Serangoon Gardens. It was revamped and reopened in November 2002 after several months of renovations. The new food centre saw an expansion of space and new hawkers joining the established stall-holders.

Click On This CHOMP CHOMP STALLS NAVIGATOR (sorry, but it may be outdated!)

Do you have any experience or favourite stalls to share....?
Give us your feedback.....

Welcome To Serangoon Gardens!

....A Quaint Neighbourhood In Northern Singapore History

Serangoon Gardens Estate, one of the oldest estates in Singapore was built in the 1950s. It was originally built to house the British Soldiers based in Singapore. You will notice that the roads are named using British names. In the 70s, when the British Military left Singapore, Serangoon Gardens was a well known estate for the middle-upper class.

Upgraded in 2001, the estate was revived with 'covered up' roadside drains, new streetlights, widened roads and the various parks within the estate were spruced up.

Attractions
The estate's central area is a well-known food haven! At the centre of the estate is a circus known as Serangoon Garden Circus. Within this vicinity, one can find cafes, pubs, restaurants, coffee shops, fast food restaurants, wine bars, a market, two hawker centres, a post office, a police post, chinese medical halls, banks, massage parlours/spas... All the roads radiate around the circus, and the houses are located within walking distance. The estate has a tennis and squash centre at Burghley Drive. At Kensington Park Road, there is a country club known as Serangoon Gardens Country Club.

Food and Beverage
There are two main food centres. Serangoon Gardens Market and Food Centre and the legendary Chomp Chomp Food Centre. The Serangoon Gardens Food Centre sells really 'shiok' and yummy food like roti-john, nasi lemak, nonya kuehs, char kway teow, dumplings, Teochew duck rice and also houses many stalls from the now defunct Taman Serasi Food Centre. The other food centre, "Chomp Chomp" is a 3-minute walk from the former. The legendary Chomp Chomp was opened in 1972. The hawkers nicknamed the place "Chomp Chomp" (probably because that was the sound of eating which many happy and satisfied customers made, while 'chomping' down their food!), and since then it has been fondly referred to as Chomp Chomp. The food centre is well known for its fried chai tow kuay, hokkien mee, satay, barbecued-seafood and satay beehoon.

Since the 1990s, restaurants and cafés serving food such as local delights, Japanese, Thai, Russian and Western cuisine, ice-cream parlours, Coffee Bean have opened in the estate.

Transport
The estate is served by public bus services. In addition, on weekday mornings from 7.30am to 9am, licensed private bus operators operate express services plying between Serangoon Gardens and the city centre.

Security

The area's popularity has also made it a popular location for counter-terrorism activities, with regular armed patrols by the Singapore Police Force’s Police Tactical Unit. On 15 January 2006, a public emergency drill called The Serangoon Emergency andPreparedness Day 2006, was conducted in the estate near the Chomp Chomp Food Centre. The exercise involved a simulatedvehicular explosion and casulties, the closure of roads and diversion of traffic, and casualty treatment and evacuation.