Sunday, July 2, 2017

Gold Coast, Brisbane, Sunshine Coast and Noosa - Day 4 & 5

Day 4

Day 4 was the start of the road trip out of Gold Coast. We proceeded to Mount Tamborine, which is about an hour drive from Gold Coast. This is a small mountain and it was relatively easy to drive up.

I woke up early in the morning to take some pictures of the sunrise since this was the last day of our stay at Narrowneck court apartments. Wow, the sunrise was beautiful. As you can see, the apartment is just beside the ocean. Would definitely recommend this place to stay for anyone planning to travel to Gold Coast.




Off we go to Mount Tamborine early in the morning at 8:30am. We went to pump some petrol first as I heard petrol is relatively cheaper in the city. For the first 3 days, we only use $20 of petrol. Driving in Australia is really not expensive at all.

At Mount Tamborine, there are a few places we went. First, it was the gallery walk where there are many local shops which sells quite interesting stuffs such as glass sculptures, olden clocks and also wineries plus some cafes. It was quite quiet when we were there probably as it was not a holiday that day.

Next, we went to Jasmine organics. This is a place where they grow and make their own organic products such as facial cleansers, moisturisers and other skin care products. It was quite a nice place as you can see below:
Jasmine Organics

After that, we proceeded to drive to Curtis falls which is a famous waterfall there. It was a 15 minutes walk down to the waterfall area from the car park. The waterfall isn't very big so if you've seen much better waterfalls, then this isn't really that spectacular.
Curtis Falls
On the way out of Curtis Falls, there is a look-out place nearby called the Rotary lookout. This place is worth a stop by to take some pictures

Rotary lookout

Next we went to some wineries namely witches fall winery and also the famous tamborine mountain distillery. Do take note they do charge each person for wine tasting. The taste of the wines there are quite special especially the tamborine mountain distillery where we got to try some special ones like roasted coffee, peach and some vodka too.

For lunch, there's a nearby place called the local Codfather which was recommended on TripAdvisor. The cod fish there is really good with generous portion. Do check it out if you're there.


From Mount Tamborine, we drove straight to Brisbane which is another hour away. The road in Australia is really smooth with no traffic jams during the 8 days when I was there.

In Brisbane, we stayed at Econo Lodge City Star Brisbane. Its strategically located near to the heart of the city at an affordable price. We booked the family room which has one double bed and 2 single beds in one room. There are fast food restaurants nearby such as Macdonalds, KFC and subway.

After we check in, we went to take a walk near to the famous Brisbane river just when the sun was about to set.

It was quite nice to see the sun setting behind all the skyscrapers


We walked further down to take the city hopper, which is a free ferry ride that goes to various parts of the CBD. It was only a 5 minutes ride across the river into the heart of the CBD.

There were quite a lot of people walking around in their business attire in the evening which I suppose is their off work hours. It was only about 5:30pm. For dinner, we just settled for KFC which we wanted to try how their KFC taste like. Their KFC came with fries again... They really like fries. Surprisingly the fries was quite tasty. You should give it a try if you're there.




We took a long walk back to our apartment. I think in Brisbane, we really walked a lot as it was difficult to drive and find parking. The whole walking took about an hour plus.


Day 5

In the morning, we went to have breakfast at a Vietnamese restaurant called Cafe O Mai. Oh man, the food here was really good, tasted similar to what I have eaten in Vietnam before. We ordered the beef Pho and the Vietnamese baguette. Really good food here and plenty of place to park along the road side.




After breakfast, it was time to check out and proceed for the long drive up to the farm stay place. We wanted to visit the Brisbane street beach but unfortunately, I couldn't find any parking nearby and it was quite late already so we had to give up that place. Such a pity actually.

The drive up to the farm would take about 2 hours plus. As it was a long drive, I planned some breaks in between for us to rest and also buy groceries up to the farm for dinner.

The first stop was glass house mountains. Its a scenic drive to the glass house mountains look-out which you can locate easily using google maps GPS.

The road to glass house mountains. Pretty tall trees along the road

At glass house mountains look out

Explanation on how the mountains was formed and how it was discovered

The mountain on the left is the famous glass house mountain


Its worth a visit to this place if you're travelling to sunshine coast or noosa. Makes a great pit stop for a rest.

After this, we went to a small town called Nambour. No tourists here at all, really its authentic Australia at this place. There was a large pharmacy here selling discounted supplements which is much cheaper than in Singapore. There's also a large supermarket, Woolsworth here where we bought most of the ingredients for the 2 dinners at the farm. We had lunch at a small Chinese restaurant, near to the supermarket. Quite expensive for a plate of fried rice at $12 and fried hor fun at $12 too but portion was very big. 2 plates is enough for 4 people.

After Nambour, its the drive to Rosecliffe cottage where we will be staying at the farm for 2 nights. The drive up to the farm was gravel road with very sleep up and down slopes. I was really worried if the car could take it but it did eventually survived.

Once we were up there, the views were amazing. Really worth the drive up here. They had many animals on the farm which you can see in the pictures below

The view at Rosecliffe Cottage


Donkey


This horse is pregnant so they put a cloth over her


More Horses


A cow that looks like panda






Cow with her baby


A special type of animal called Llama


The house there is a small cottage with one bedroom, one bathroom, a living room and kitchen. They also have a BBQ pit outside at the backyard with a hood which we did BBQ for the 2 nights there.




It was quite fun actually to BBQ at the farm which was up in the mountains. At the farm, there is only us and another family in another cottage plus the host themselves living in another house. Just 3 house in a secluded farm. It was really quiet and peaceful at night not forgetting the many stars which could be seen at night. 

That's the end of day 5.

Day 6 continues here

For more of my Australia trip, click on the link below:

Tuesday, June 27, 2017

Your House Is Not Really Your Asset - How a HDB flat might depreciate over time?

Recently, a particular news shocked many people in Singapore. For the first time, the government has confirmed to take back 191 plots of land in Geylang Lorong 3 when their 60-year lease expires in 2020. For a long while, many people do not believe their housing price will go to zero when the lease expires. This is a confirmation of what is to happen in decades to come for the other housing estates which will have their leases expire in the future.

SLA has said no compensation will be given and no extensions are allowed. Unlike land acquisition by the Government, where compensation is given for the remaining lease, Geylang Lorong 3 residents will not get any since the lease will have run out in 2020, said the Law Ministry's deputy secretary Han Kok Juan.

Your House Is Not Your Asset In Singapore

This is quite scary for many Singaporeans who thought their house is their asset and they can cash out of it when they are old. This can only happen if your house still has a long lease left. To put the matter into perspective, let's see what happens to the value of your house as the lease gets lesser and lesser.

Adapted from The Straits times
Click to enlarge

The Straits times has a very good chart to show the value of a HDB flat depreciating as the lease expires. There are a few critical points before the value of the flat goes to zero. If your HDB flat or any leasehold property has 45 years or less lease currently or reaching the 45 years mark, its time to take note of what is going to happen should you still decide to hold it.

1. No Bank loans with less than 35 years lease left

Banks do not lend out for properties with less than 35 years lease left. This means if your property is less than 35 years lease now, a person who buys your property cannot loan from the bank. This is a very big restriction for any buyers of your property and if they do not have cash to pay for your property, they can't buy it as well. This makes it very difficult for you to sell your property to potential buyers. As such, at the 35 years lease mark, the value of the property greatly depreciates.

2. With less than 30 years lease left

At the 30 years lease mark, the property value greatly depreciates again. This is due to the fact that CPF cannot be used for any downpayment and mortgage servicing. On the other hand, HDB loan is still available if remaining lease covers the buyer up to age 80.

3. With less than 20 years lease left

With less than 20 years lease left, both bank loans and HDB loans are not available. It is almost impossible to sell your property at a high price now as buyers can't get any loan financing from anywhere in Singapore. If a buyer wants to buy your house, they will have to pay all in cash.


Flats with leases expiring in Singapore

National development minister Lawrence Wong said in a blogpost in March cautioning people that "As the leases run down, especially towards the tail-end, the flat prices will come down correspondingly, So buyers need to do their due diligence and be realistic when buying flats with short leases. This is especially important for young couples, who have to plan for a much longer future." He said.

For young people, it is especially important to plan ahead when buying a house especially if you're considering a resale flat. If you buy a BTO, it won't be a cause of concern as BTOs start with 99 year lease.

There are many old estates in Singapore which are in prominent locations around Singapore. These are especially popular for young people because of the location. But, the lease expiry is a concern now as confirmed by the news of the flats being taken back by the government at Geylang Lorong 3 and also how the value of the HDB flat depreciates over time.

To check the leases of HDB flats in Singapore, you can refer to HDB website here. I will list down some of the areas that has lesser leases in Singapore.

1. Toa Payoh (Lor 4) - 50 years lease left

Some flats in Toa Payoh has about 50 years lease left. If a buyer buys a flat here and takes a bank loan, he can only get a loan tenure of up to 20 years (to 30 years lease). In 15 years, no buyers can take a bank loan for the properties here anymore.
Click to enlarge



2. Queenstown (Stirling Road) - 50 years lease left

Another estate with 50 years lease left is Queenstown. This is similar to Toa Payoh.
Click to enlarge

3. Geylang (Kallang Bahru) - 55 years lease left


Click to enlarge


4. Serangoon (Lor Liew Lian) - 59 years lease left


Click to enlarge

The above are some of the estates with HDB flats less than 60 years lease. In Singapore, out of about 1 Million HDB flats, 70,000 are more than 40 years old and about 280,000 are 30 years to 40 years old. This puts their remaining lease at about 69 years or less remaining. As a young person, if I want to stay in the house for the next 30 years, I better not buy a HDB flat that has less than 65-70 years lease. It will be very difficult to sell the flat at that time and the property price will depreciate greatly as well.

What about the Selective En bloc Redevelopment Scheme (Sers)?

Most people are still willing to pay a high price for a low lease flat because of the hope that their old flats will be redeveloped under the SERS scheme. If you're hoping your old flat will go under this scheme, it is timely to take note that it may not happen.

Since the Sers was launched in 1995, only 4% of HDB flats have been identified for Sers and the government will continue to maintain the strict selection criteria for blocks eligible for Sers. This is reiterated by Minister Lawrence Wong in his blog post in March 2017. You can read it here.


Which HDB flat should a young couple buy?

With all the above information, as a guide, a 30 year old couple should consider a HDB flat with more than 65-70 years remaining lease. This would ensure we do not meet into problems at later stages of our life.

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Thursday, June 22, 2017

Gold Coast, Brisbane, Sunshine Coast and Noosa - Day 2 & 3

Day 2 and Day 3 in Australia

Read more on day 1 and planning tips for my Australia trip here.

Day 2

For day 2, it was whale watching in the morning and sea world in the afternoon. We cooked some simple breakfast before going to the ferry terminal for the whale watching cruise at 9am. 




Out to the sea


Spotted some whales from afar

The whale sprouting water
We did see the whales after some 4 hours out in the ocean. Not a very good experience as most people were sea sick including me even though we took the sea sick pills before the cruise. The cruise was with the spirit of Gold coast whale watching. Their staff were friendly and often asked us if we're feeling ok. 

I took a video and indeed there's probably 2 whales which we can see from afar:



After the cruise ended, it was already about 2pm. We were hungry so we went to a popular place called Peter's fish market for lunch. The fish here is really fresh although portion is quite small. 



By the time we finish lunch, it was already about 3pm so we quickly went to sea world which will close at 5pm. It was quite rush as the whale watching cruise ended too late. It was suppose to finish around 1230pm but dragged to 2pm because we were out at sea searching for the whales for quite long. I guess it really depends on luck for this kind of cruise. 

Sea world was quite interesting. We didn't have time for any of the rides so its just looking at the animals. They have dolphins, stingrays, polar bears, sharks, penguins, seals etc. 





Baby penguins

Seals


The brown one is actually a baby penguin just born. Looks so big


Sea world closes at 5pm so its another early night. Most attractions and shops there closes early so there's nothing much to do in the evening. Its good actually as we can have more rest throughout the trip. 

Dinner was cooked in the apartment again. This time, we had spaghetti with a whole chicken bought from the supermarket

Some tips on the whale watching cruise and the theme park tickets

Before the trip, I already pre-purchased the tickets for the attractions. Whale watching cruise is quite expensive in Gold coast costing $99 per person. I bought it at $44 per person through Groupon Australia. For sea world, I bought a 3 park pass from https://www.experienceoz.com.au/en/. This site has many discounted tickets for attractions in Australia and New Zealand. Do check it out if you're going to any of these countries. 


Day 3

Continuing on day 3, we went to harbour town and movie world plus the beachfront night market in the evening. The beachfront night market is only open on Wednesdays and Weekends from 4pm to 9pm. 

Harbour town is a popular outlet shopping area with many discounts on big brands such as Adidas, Nike and many more. Its very big, similar to the Johor premium outlet place in Malaysia. 

For lunch, we went to this Japanese Ramen shop which sells delicious Ramen. I personally think its better than most Ramen shops in Singapore. Its called Kabachi-Ya and its located very near to harbourtown. The price is reasonable too at just about $10 nett per bowl. I realised all Australia restaurants do not charge GST or service charge so that makes a big difference. 




After lunch, its time for movie world. Actually most of the theme parks are probably more for kids and not very big. You probably can finish in half a day. Movie world is quite small as well. I think we were done in about 2 hours plus. 

Batman came to the rescue

Spotted batman in Movie World


Scooby doo ride. One of the shows I always watch when I was young



Hollywood stunt driver show

Wild wild west town

The superman ride. Unfortunately it was close that day



Movie world has many familiar characters we know such as superman, batman, looney toons etc. Its all under the Warner Brothers brand. I took the scooby doo ride which is a indoor roller coaster. It was quite scary as its all in the dark and we plunge down without any warning. I also took the road runner 4D ride which wasn't really exciting. Last year when I went to HK disneyland, there was a similiar Disney 4D ride and it was much better than this. 

We were planning to go to the beachfront night markets in the evening but it was too cold to walk. We were there about 8pm. The temperature was probably below 15 degrees and the wind was so strong as its right beside the ocean. In the end, we just bought some Kebabs from the popular Shiraz Moderna. You should give it a try if you're there. Its quite tasty.


That's the end of Day 3
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