Pasir Ris Central Residences is located at Pasir Ris town centre and next to the MRT, the land parce
Pasir Ris Central Residences is located at Pasir Ris town centre and next to the MRT, the land parcel is a “white site” intended as a mixed development, which will feature an integrated bus interchange, polyclinic and town plaza, plus about 600 private condo units.Pasir Ris is the housing estate that’s nearest to Singapore’s Changi International Airport. By car, the airport is just five to ten minutes away. By bus, it takes about 20 minutes. This has made Pasir Ris one of the choice towns for frequent travellers, including tenants (e.g. air crew) whose work requires them to shuttle to and from Singapore.For the sake of preserving the condominium industry and to minimize the risk of taxpayers’ liability in case of potential massive defaults, condos should be excluded from high-ratio insured mortgages. Pasir Ris Central ShowFlat buyers should again be required to put at least a 35% down payment of their own money if they wish to buy a condo. With no longer qualifying for government guaranteed insurance on their mortgages, and condos remaining to be overpriced, banks might insist for even higher down payments. Although sounding scary, this would actually lead us back to the free-market policy, on which our society was founded. Condo complexes that are well governed, comprised of unit owners able to afford its distinct life-style, would be in much better financial shape as its individual owners would put down their own (substantial) equity into the units, leaving them in much better position to cope with future increased maintenance costs. Their individual and collective financial strength would assure the preservation, even enhancement, of their units and complexes in times to come.Disqualifying condos for insured high ratio mortgages would not weaken the real estate industry. In fact, it would entice developers to build more affordable apartment buildings to house members of the public that cannot afford to buy real estate, and alleviate tax payers of paying for high-ratio insured mortgages on defaulted condo units. Article Source: http://singnewhomes.com/pasir-ris-central-residences/ -- source link