View Full Version : Bishan tender draws 19 bids
HDB launching residential site at Bishan for sale under Reserve List System (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1103343/1/.html)
By Julie Quek | Posted: 07 January 2011 2104 hrs
SINGAPORE : The Housing and Development Board (HDB) is launching a residential site for sale by public tender under the Reserve List System.
The site is located at Bishan Street 14 and is slated for development as Condominium Housing.
The area is around 12,000 square metres in size, with a maximum gross floor area of some 58,000 square metres.
It has a lease term of 99 years and would be able to accommodate 590 units.HDB quoted the minimum offer price at S$189,831,390.
Under the Reserve List System, the government will put up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 3 per cent of the bid price, capped at S$5 million, to bid for the site at or above the minimum offer price which is acceptable to the government.
HDB will launch the tender for the land parcel in about two weeks' time.
- CNA/ms
kingkong1984
08-01-11, 04:48
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
There isn't any major condo launch in Bishan since Clover 3-4 years back, this will be a hotly contested site. If Centro Residences can be priced around $1300 psf now, this one should be launched at least $1300 psf since Bishan is better located than Ang Mo Kio.
My guess is it will be a project that sells well since the Bishan HDB upgraders can sell off their expensive HDBs to fund the purchase or rent them out to off-set their instalments.
bargain hunter
08-01-11, 08:26
it depends on whether the winner is Far East or not.
If far east,
My take on successful bid is $703
My guess on launch price is $1400 to $1600 (1600 for studio)
If not far east,
My take on successful bid is $668
My guess on launch price is $1300 to $1500
and i still think i m underestimating the potential. :ashamed1:
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
if the government is expecting the sale price to be 1200psf, selling it at $400 will be like giving free money to the developer.
devilplate
08-01-11, 09:20
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
have u checked the site location? it is very near to bishan mrt and to me its a plus point to face ITE den HDBs...lol
sucessful bid only 350-400psf? tats punggol pricing liao:p
at least 600-650psf:D and i guess more den 8bids :cheers6:
kingkong1984
08-01-11, 09:27
Excellent mass market location to me. I was being conservative but others have bullish bids. Nice to even game on number of bidders. This is a fun way of discussing condo prices.
Buy bishan ! 1300psf or above huat
Finally. This site had been on reserve list since 2007, right after FEO bought the centro plot for 480. This one, my guess is at least 700, and sell at 1500.
This plot is next to a mature shopping center, above a MRT interchange, (and MRT is underground not like Centro). Plus 1km to Catholic High.
Bishan has 900k HDB right ?
the bus interchange is quite near though...
still, no sell $1xxx psf no talk LOL
rattydrama
08-01-11, 14:55
have u checked the site location? it is very near to bishan mrt and to me its a plus point to face ITE den HDBs...lol
sucessful bid only 350-400psf? tats punggol pricing liao:p
at least 600-650psf:D and i guess more den 8bids :cheers6:
No mm here rite? So could be higher 700psf?:tongue3:
I'm going to guess that the land will go for about 550-600psf.
join in the fun. Land=650~680, selling avg 1250 (mm may hit 1400psf<)
There is a good 200 - 300m walk to mrt stn .according to st the plot is bigenuf for a few dev so whoever bidder this land stand a chance to monopolize the entire land. Kepland maybe interested like lakefront
If far east gets the land, selling price 1300 psf, if cheung kong gets the land, 1400psf. All others should be below that.
My take on land price is $635 psf
My take on ave launch price is $1250 psf
Excellent connectivity by highways to all over Singapore plus 2 mrt, good amentities at doorstep, good schools nearby, no other project can come close. Will attract many bidders and surely set new highs in all prices.
rattydrama
09-01-11, 10:12
my view is Bishan will always be Bishan, I good gauge will be the re-sale flat of HDB in Bishan topped the rest of the estate even if this is not CCR.
And we are not talking selling at record price. AMK FEO project sells well 1100psf rite? So Bishan will sell better. Lakefront 1200psf with nothing only MRT and story....
Bishan no story to tell as it is all there and 1200psf should not be a record price.. so 1500psf may have takers wor..... MM units.....
my take will be same as bargain hunter.
My take on land price is $635 psf
My take on ave launch price is $1250 psf
Size of 11,XXX sqft most likely high rise block if developer wanna squeeze many units.
i think max 350 units ...
rattydrama
09-01-11, 16:52
Size of 11,XXX sqft most likely high rise block if developer wanna squeeze many units.
i think max 350 units ...
papers quoted 590 units @1000 sq ft each.
kingkong1984
09-01-11, 20:07
100 sqf can be 1, 2 and 3 bedders. It's up to developer to mix. Paper talk only. Not real. The final winner decide and should have 4 bedders lah.
bargain hunter
09-01-11, 21:34
thanks for support. :) i think FEO will win and spoil the market though. :(
my view is Bishan will always be Bishan, I good gauge will be the re-sale flat of HDB in Bishan topped the rest of the estate even if this is not CCR.
And we are not talking selling at record price. AMK FEO project sells well 1100psf rite? So Bishan will sell better. Lakefront 1200psf with nothing only MRT and story....
Bishan no story to tell as it is all there and 1200psf should not be a record price.. so 1500psf may have takers wor..... MM units.....
my take will be same as bargain hunter.
Think bishan 8 folks will keep their fingers cross that FEO win because their payback is about 10 years over due. This could be just the lift that their prices need
thanks for support. :) i think FEO will win and spoil the market though. :(
rattydrama
10-01-11, 09:22
100 sqf can be 1, 2 and 3 bedders. It's up to developer to mix. Paper talk only. Not real. The final winner decide and should have 4 bedders lah.
that is correct. my reply is in context of max 350 units quoted by lovelle which means on average 1685 sq ft per unit. Where got such big size these days?
If all MM units, I can have 1180 units each at 500sq ft wor.
rattydrama
10-01-11, 09:27
Think bishan 8 folks will keep their fingers cross that FEO win because their payback is about 10 years over due. This could be just the lift that their prices need
another propertism. ppty price will always goes up. :cool: u must have holding power.
u buy high and the break even time will take much longer. Anyway this could be a good lift cos I like the connectivity even thou I dont stay there (I like to be there!). It is just that over the last decade, the price is way above market price and some just wont touch it.
Wild Falcon
10-01-11, 11:06
You mean CTE? It's the worst way to get to work. Unless one takes MRT, drivers should think twice. Having said that, Bishan is quite an anamoly known to have expensive HDBs but cheap private properties. So maybe the new bid may unjinx the cheap private property stigma.
Excellent connectivity by highways to all over Singapore plus 2 mrt, good amentities at doorstep, good schools nearby, no other project can come close. Will attract many bidders and surely set new highs in all prices.
rattydrama
10-01-11, 11:33
could be another hidden gems. hehe
http://www.businesstimes.com.sg/sub/news/story/0,4574,420842-1294516740,00.html?
Published January 8, 2011
Bishan residential site up for tender
By EMILYN YAP
THE Housing & Development Board will be launching a 99-year leasehold residential site at Bishan Street 14 for tender in about two weeks' time.
Consultants expect to see as many as eight bidders for the plot, which is located near Bishan MRT station.
The 1.2 ha site on the reserve list, with a maximum gross floor area of 632,764 square feet, can yield an estimated 590 condominium units.
An unnamed developer triggered the sale when it committed to pay at least $189.8 million or $300 per square foot per plot ratio (psf ppr).
The plot is within walking distance of Bishan MRT station and Junction 8 shopping mall. It is also near several education institutions - ITE College Central (Bishan) is next door while Raffles Institution is a few streets away. A few other parcels of state land surround the site.
Cushman & Wakefield senior manager of Asia-Pacific research Ong Kah Seng believes that the top bid might come in at $450-480 psf ppr, which could translate to selling prices of $920-950 psf.
According to caveats lodged with the authorities, units at Bishan 8 nearby went for $852-955 between August and October last year.
There is likely to be moderate demand from developers because of the site's location, Mr Ong said. The winning developer will get a headstart in offering condominiums in that area, and could potentially acquire the surrounding plots when the government includes them in the land sales programme, he added.
SLP International Property Consultants' research executive director Nicholas Mak expects some of the higher bids to reach $460-530 psf ppr.
Although many residential sites on the confirmed list will be rolled out for sale in the first half of this year, this plot at Bishan remains attractive because of its location, he said.
Besides, mass-market homes should continue to enjoy demand even if price growth may be limited this year, he added.
http://www.straitstimes.com/Money/Story/STIStory_621816.html
Jan 8, 2011
Bishan condo site expected to draw strong bids
99-year plot is near MRT, schools and lifestyle amenities
By Gabriel Chen
http://www.straitstimes.com/STI/STIMEDIA/image/20110108/b5.jpg
AN ATTRACTIVE condominium site within walking distance of Bishan MRT station is being offered for sale, with the prized location set to attract strong bids.
'It's going to be hot and it's down to the location,' Credo Real Estate executive director Tan Hong Boon predicted.
About 590 units of a private condo can be built on the 99-year leasehold plot, which is also near ITE College Central (Bishan) and Bishan Stadium. The area of the site is 11,997 sq m.
Property experts said the tender for the parcel, to be launched in about two weeks' time, is expected to draw keen interest from developers.
Mr Tan said that apart from its proximity to the MRT station, the site is centrally located in Bishan, near good schools and supporting lifestyle amenities.
The plot was available for application for purchase under the Reserve List of the Government's land sales programme.
Under the list, an interested developer can submit an application for a site with a minimum offer price.
If the price is deemed accept-able, the Government will then put the site up for sale by tender.
In this instance, the minimum offer price was $189.93 million, the Housing Board, the agency selling the land, said yesterday.
Mr Ong Kah Seng, senior manager of Asia-Pacific research at Cushman & Wakefield, expects about eight bids for the condo site, with the top bid between $450 and $480 per sq ft (psf) per plot ratio.
The selling price of condo units would range from $920 to $950 psf, he said.
Mr Ong suggested that securing this site could prove a strategic move for developers, given that there are neighbouring sites which have been flagged as reserve sites for future high-rise developments.
He explained that with an adjacent site and a few neighbouring ones slated for future high-rise homes, the developer that secures this site will have a head start in providing condos in the area.
The successful bidder 'can even potentially expand to acquire the rest of the sites when they are subsequently available in the government land sales programme, thus an opportunity to have a territorial presence in this immediate vicinity', he said.
The government land sales programme in the first half of this year will feature 30 sites that will be able to generate a record 14,300 residential units - more than the 13,900 units offered in the second half of last year.
'The Government has and will be selling a large supply of new development sites, so home buyers will be spoilt for choice from the second half of the year onwards,' said Mr Nicholas Mak, head of consultancy and research at property firm SLP International.
[email protected]
The analyst predict $480 psf thereabout. Why so far from our forum analyst who predicted abve 500psf
Wild Falcon
11-01-11, 23:03
At least 700psf? Wow, looks like u really bullish on Bishan estate. Bishan has expensive HDB but cheap cheap condos leh - maybe it's still mainly surrounded by HDB and all 99LH status which remove the prestige unlike other suburbs like D16, D5 or D23 with significant pockets of freehold land? Not sure if can sell at 1500psf unless build MM.
Finally. This site had been on reserve list since 2007, right after FEO bought the centro plot for 480. This one, my guess is at least 700, and sell at 1500.
This plot is next to a mature shopping center, above a MRT interchange, (and MRT is underground not like Centro). Plus 1km to Catholic High.
Bishan has 900k HDB right ?
bargain hunter
11-01-11, 23:56
i have no idea why the analyst is purposely underestimating it. i think its quite confirmed to be well above 500psf.
The analyst predict $480 psf thereabout. Why so far from our forum analyst who predicted abve 500psf
Verdict will be out in a few weeks. Perhaps the forum analyst might be more accurate than the professional analyst.
$688psf Huat Ahh...!!!! :D
Looking from the map, looks like it is near to swimming, sports stadium etc. Condo has own swimming pool, gym.
If mass market condo, sure have lots of condo residents using swimming pool, gym etc.
How different is it from surrounding HDB dwellers swimming in nearby public pool, gym?
Is it worth it? or buy HDB resale better?
Sorry for shooting my mouth, like to know more about Singapore that's all.
Wild Falcon
12-01-11, 09:29
It's a HDB sale site, not URA site. Is there any difference? I guess its mainly because its an HDB land and HDB decide to allocate some HDB land to private?
Condo mah. Living amongst HDB estate dwellers in Bishan has its benefit - it means you can show off to the surrounding HDB :ashamed1: . I think probably can fetch marginally higher than Centro prices. Never like the Bishan district any way. It's boring, clinical without character - ang mo kio has more personality.
Looking from the map, looks like it is near to swimming, sports stadium etc. Condo has own swimming pool, gym.
If mass market condo, sure have lots of condo residents using swimming pool, gym etc.
How different is it from surrounding HDB dwellers swimming in nearby public pool, gym?
Is it worth it? or buy HDB resale better?
Sorry for shooting my mouth, like to know more about Singapore that's all.
A lot of singaporeans desire bragging rights, such as brand new, exclusive, etc. If they were as logical as you hopeful, Quartz won't be selling at such a premium cos there's a big swimming complex with kids zone and water slide just nearby.
Let's see; NEL/CCL MRT Interchange, Junction 8, Rejuvenated Bishan Park, Raffles Instituition, Catholic High, some of the reasons? :p
devilplate
12-01-11, 10:07
It's a HDB sale site, not URA site. Is there any difference? I guess its mainly because its an HDB land and HDB decide to allocate some HDB land to private?
i tink land still owned by ah gong....HDB/URA r so called the sales agt
looks like u really bullish on Bishan estate
actually not the whole estate. only this site. MRT at door step commands a significant premium. Some more interchange with CCL too. And J8 at door step is another premium. CAPL's suburban mall is always managed very well.
Centro is doing 1350. Even with noise from exposed MRT tracks. This one should be at least $150 more.
devilplate
12-01-11, 10:28
shd expect smthing like ascentia sky kind of pricing:2cents:
sUrrounding condos are worth looking at if this site gets bullish price.
Cld it be time for bishan 8 folks to recover fr their price?
Rafflesia also done at 980psf Liao. The gardens, bishanloft?
now this gets interesting.. with the new measures, will big guns continue to bid high for this site ?
This is one of the better OCR sites in the GLS program this year.
devilplate
19-01-11, 12:11
now this gets interesting.. with the new measures, will big guns continue to bid high for this site ?
This is one of the better OCR sites in the GLS program this year.
i still maintain my bet at 600-650psf
Will be interesting to see who will eventually be the winner.
My take goes to FEO or Sin Lian at $580psf for land and launching price at $1350psf if its FEO and $1180psf if its Sim Lian.
In future, it will be surrounded by the new NSE & CTE as well as PIE & TPE/SLE. :D
In future, it will be surrounded by the new NSE & CTE as well as PIE & TPE/SLE. :D
highway corridor.
Sales brochure can say "It in the heart of all major expressways". :D
highway corridor.
The jam between CTE and PIE should be alleviated by this highway.
property888
22-01-11, 07:44
FEO will always launch at higher price compared to its previous launch... (CENTRO ard that area?).....
this development should be around 1500psf... :)
kingkong1984
22-01-11, 15:06
FEO will always launch at higher price compared to its previous launch... (CENTRO ard that area?).....
this development should be around 1500psf... :)
Got mosque leh!
U CCR boy right?
Got mosque leh!
U CCR boy right?
nowadays, as long as near mrt, that trumps everything.
anybody care to share when the result will be announced?
anticipating anxiously whom and how much will be the winner....
bargain hunter
20-02-11, 15:58
if i din remember wrongly, 24th feb.
anybody care to share when the result will be announced?
anticipating anxiously whom and how much will be the winner....
And I was wondering why wasn't there any announcement so far. And I thought it was meant to be concluded before Chinese new year.
So tomorrow is the day huh. Shall we refresh our bets ? ;)
Mine: 700
Another Bishan 8 in the making? :rolleyes:
My guess would be in the $720-750 range..., likely FEO will clinch and launch at $1300
bargain hunter
23-02-11, 20:53
this was my guess in jan. guess i will stick by it hahaha. :) oh after cooling measures can remove the last sentence. don't think i m underestimating the potential now hehehe.
it depends on whether the winner is Far East or not.
If far east,
My take on successful bid is $703
My guess on launch price is $1400 to $1600 (1600 for studio)
If not far east,
My take on successful bid is $668
My guess on launch price is $1300 to $1500
and i still think i m underestimating the potential. :ashamed1:
will be exciting and todays ST also mentioned that the result at Bishan will be a good gauge to see how effective is the so called cooling measures.
My bet---> $638psf
phantom_opera
23-02-11, 21:04
Far East has incentives to bid high, just to support sky high prices in other projects and the "punggol central billion bid".
718psf !!! :scared-5:
punggol was mixed development, this is pure residential.
devilplate
24-02-11, 00:04
My guess would be in the $720-750 range..., likely FEO will clinch and launch at $1300
looking at current market, 2/3bedder probably can fetch 1200-1300psf and 1bedder probably 1400psf....close to ascentia sky pricing which has lots of planters/baywindows
so work backwards and shall get ard 650psf:2cents:
My guess would be in the $720-750 range..., likely FEO will clinch and launch at $1300
if it's FEO, not a chance it will launch at $1300 "low" price. The AMK site, a much inferior location, was bought at $480 and already launched at $1300.
FEO better buy it and launch it at $1400, to protect its interest.
Like AMK, there hasn't been a lot of launches in the Bishan area. And Clover is soon to TOP. The response to this sale should be interesting.
if it's FEO, not a chance it will launch at $1300 "low" price. The AMK site, a much inferior location, was bought at $480 and already launched at $1300.
FEO better buy it and launch it at $1400, to protect its interest. Yes, could be higher than $1300psf, depend on the timing...and if it is FEO, should via phases..and they will keep some higher floors good units for later...when closer to TOP...
bargain hunter
24-02-11, 16:31
:eek: :scared-3: :scared-5: :jaw-dropping:
:doh: :scared-4: :scared-1: :banghead:
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/9F1D1F0A03D0991048257841002C574D?OpenDocument
bargain hunter
24-02-11, 16:35
you are spot on for the 2nd bidder, keppel at 683psf. i dunno who Bishan Residential Development Pte. Ltd. is but any how guess also can conclude likely to be far east hahaha.
680psf ppr.
:eek: :scared-3: :scared-5: :jaw-dropping:
:doh: :scared-4: :scared-1: :banghead:
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/9F1D1F0A03D0991048257841002C574D?OpenDocument
Wow, Bishan Residential Development bid S$550.1mil !!! All of us are wrong man.....MBT see like this, maybe he fast fwd his roll out his more cooling measures...., 27% higher than 2nd bidder
1
Bishan Residential Development Pte. Ltd.
$550,100,000
2
Keppel Land Realty Pte Ltd
$432,330,000
$7,354.33
Huh....$869 psf....who is this Bishan Residential Development?
Huh....$869 psf....who is this Bishan Residential Development?
FEO?:confused:
Siao liao, more cooling measures to come...:doh:
bargain hunter
24-02-11, 16:41
27% premium over keppel. must be either capitaland or far east liao. but i think as our forumers have concluded, likely to be far east who has every interest to continue keeping all new launch prices high. + feeling sore over everyone condemning bishan 8 so must take revenge hahaha.
Huh....$869 psf....who is this Bishan Residential Development?
Has to be either FEO or LKS !
hey at least I'm the most bullish on this site :)
so what will likely be the launch price??? $1300psf seems to be the
break-even with the recent increase of levy on foreign workers...:simmering:
not a chance seeing anything < 1500 !
sell at least $1500psf. looks like spore property has reach a new era. entry level at least $1000psf. really think whether now is it the right time to buy? if the entry level already been pushed up to this level. doubt any measure will bring down the price. it will bring down the volume but definitely not price
Has to be either FEO or LKS !
hey at least I'm the most bullish on this site :) Could be FEO, since like die die also need to get this site to protect their interest. Actually this site is quite good location. Many Bishan HDB dwellers are waiting to upgrade. Most recent is Clover which is further away from MRT, shld be getting TOP soon. But at this price...wow...:doh:
MBT...maybe thinking Developers daring me to inject more cooling measures sooner
no no not so fast. this site is really very special. I doubt there are other sites that are as good as this. this can't be the benchmark for others.
phantom_opera
24-02-11, 16:49
Thought FEO is ranked 11th?
11
FCL Topaz Pte. Ltd., Far East Civil Engineering (Pte.) Limited and Sekisui House, Ltd
$321,777,000
$5,473.72
Interesting thing is 2th/3rd/4th bids all very close to each other, so fair market value should be around 650-689psf which is already on the high side considered Bishan HDB resale price is around 550psf.
Any project below 1000psf looks like a bargain now :cheers1:
Thought FEO is ranked 11th?
Interesting thing is 2th/3rd/4th bids all very close to each other, so fair market value should be around 650-689psf which is already on the high side considered Bishan HDB resale price is around 550psf. Maybe developers also among us, monitor our discussion, most say about 680psf..ma, i say 725-750, winning Party must have thought ok la, die die wack...another 20%...sure get...:D
Could be FEO, since like die die also need to get this site to protect their interest. Actually this site is quite good location. Many Bishan HDB dwellers are waiting to upgrade. Most recent is Clover which is further away from MRT, shld be getting TOP soon. But at this price...wow...:doh:
MBT...maybe thinking Developers daring me to inject more cooling measures sooner
developer has deep pocket but buyer don have wat. why the measure keep targeting on buyer?? buyer is the innocent party. if really have new measure, hope to target the developer and hit them hard.
make them put in 100m deposit until project TOP. tie up ther cashflow and see how high they can bid.:simmering:
phantom_opera
24-02-11, 16:54
Maybe developers also among us, monitor our discussion, most say about 680psf..ma, i say 725-750, winning Party must have thought ok la, die die wack...another 20%...sure get...:D
It could be due to high expectation of Bishan as a junction between circle line and north east line. Like that the piece of land next to Paya Lebar MRT could see hot bid this year also.
is this going to be a repeat of bishan 8? Take 10 years before price recover back to launch price.
Those who buy this truly deserve their fate, never learn from history.
you are spot on for the 2nd bidder, keppel at 683psf. i dunno who Bishan Residential Development Pte. Ltd. is but any how guess also can conclude likely to be far east hahaha.
I should consider working for Keppel Land! But who on earth is this rich bugger who bid 860psf ppr? It can only be FEO or Cheung Kong I reckon.
With this bidding, Keppel's Reflection looks cheap @ 17xxpsf!:2cents:
All nearby projects huatx3!
At this price, launch price maybe $1500psf
All nearby projects huatx3!
not really wor....unless they can sell. will see who is the commando...... i am jus a private....so not interested
Just check HDB resale for Feb 2011,
http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33SSearchWidget
Block 102, Maisonette, 163sqm, 21-25 floor sold for $840K.
Upgraders may not be able to afford this condo now..when they launch the project..after they sell their HDB
phantom_opera
24-02-11, 17:13
Developer can still build MM and sell @ 1500psf, like Siglap V or Oxley's projects even if market has a downturn of 5% this year.
1,600psf X 400sqft = 640k
1,500psf X 600sqft = 900k
1,400psf X 750sqft = 1.05 mio
Developer can still build MM and sell @ 1500psf, like Siglap V or Oxley's projects even if market has a downturn of 5% this year.
1,600psf X 400sqft = 640k
1,500psf X 600sqft = 900k
1,400psf X 750sqft = 1.05 mio
Tis Party really Hero, with construction cost slated to go up becos of higher Foreign workers levies, bid 27% higher, setting a new benchmark for Bishan indeed. Now they need to find a few hundred suckers to buy the units...:D
This is really crazy. The tender process should be reviewed. In the end, common folks are the ones who suffered doubly whammy, ie have to pay high psf to the developers and yet have to hit by the latest harsh cooling measures.
This is really crazy. The tender process should be reviewed. In the end, common folks are the ones who suffered doubly whammy, ie have to pay high psf to the developers and yet have to hit by the latest harsh cooling measures. Why shld Government care, developers bid higher even better, they pocket more ..., would they also care if car dealers bid their heads off on COE...no man
phantom_opera
24-02-11, 17:27
This will rival D Leedon in terms of pricing :scared-4:
Singapore condo near MRT finally caught up with Hong Kong
this will make d'leedon suddenly super attractive LOL
no no not so fast. this site is really very special. I doubt there are other sites that are as good as this. this can't be the benchmark for others.
so so location, too near mosque
devilplate
24-02-11, 17:46
bubble is finally brewing liao.....
suddenly everybody's ppty seems undervalued:scared-3:
bargain hunter
24-02-11, 18:06
that is sharp :) but can far east bid one alone and bid one with their usual buddies (fraser and Sekisui)?
yeah, most of us guessed around 680 and that would have been the fair market price had it not for this rich developer. eveyone must be tuning into this forum. gahmen abolished tv tax becoz proud owner suggested it and many more precedence of news copying what was contributed in this forum. ;)
Thought FEO is ranked 11th?
11
FCL Topaz Pte. Ltd., Far East Civil Engineering (Pte.) Limited and Sekisui House, Ltd
$321,777,000
$5,473.72
Interesting thing is 2th/3rd/4th bids all very close to each other, so fair market value should be around 650-689psf which is already on the high side considered Bishan HDB resale price is around 550psf.
Any project below 1000psf looks like a bargain now :cheers1:
devilplate
24-02-11, 18:09
that is sharp :) but can far east bid one alone and bid one with their usual buddies (fraser and Sekisui)?
yeah, most of us guessed around 680 and that would have been the fair market price had it not for this rich developer. eveyone must be tuning into this forum. gahmen abolished tv tax becoz proud owner suggested it and many more precedence of news copying what was contributed in this forum. ;)
really? den i must repeat more on banning <500sqft MMs and set max 20%-30% 1bedder in every project?:p
bargain hunter
24-02-11, 18:09
actually far east single handedly started this everywhere entry 1000psf thing. is it fair that the richest developer (richest family?) is manipulating prices? can anybody (gahmen?) launch an anti-trust suit against it because it is too big and have been buying/selling at significant premiums vs market price? :D
1500psf looks like will be the case liao. but if we compare this with ascentia sky, ok lah, similar + future price premium. :ashamed1:
sell at least $1500psf. looks like spore property has reach a new era. entry level at least $1000psf. really think whether now is it the right time to buy? if the entry level already been pushed up to this level. doubt any measure will bring down the price. it will bring down the volume but definitely not price
bargain hunter
24-02-11, 18:11
yah, remember, we were going to chorus that? that should help both existing MM owners and would be buyers. everyone except oxley, whose business model will go down the drain hahaha.
really? den i must repeat more on banning <500sqft MMs and set max 20%-30% 1bedder in every project?:p
devilplate
24-02-11, 18:11
actually far east single handedly started this everywhere entry 1000psf thing. is it fair that the richest developer is manipulating prices? can anybody (gahmen?) launch an anti-trust suit against it because it is too big and have been buying/selling at significant premiums vs market price? :D
1500psf looks like will be the case liao. but if we compare this with ascentia sky, ok lah, similar + future price premium. :ashamed1:
1.5kpsf similar to citylights/southbank pricing liao....hmmm
http://www.businesstimes.com.sg/sub/latest/story/0,4574,427619,00.html?
February 24, 2011, 5.27 pm (Singapore time)
Bishan tender draws 19 bids
By KALPANA RASHIWALA
A 99-year leasehold private condo site near Bishan MRT Station offered at a state tender yesterday drew a total 19 bids. The highest bid by Bishan Residential Development was for $550.1 million or $869.36 per square foot per plot ratio
that is sharp :) but can far east bid one alone ...
Now it looks more and more like LKS. Who's afraid of FEO ? :cool:
Now it seems that not just any mrt station will be good. The new ultra prime areas are those within 500m from an Interchange MRT station. :scared-3:
Bishan 8 residents can finally get good profit after so many years. :cheers1:
bargain hunter
24-02-11, 18:55
hmm, if its LKS then there is a motive behind it too. They are going to launch their only other landbank near Pierce Reservoir, which is nearby, soon rite?
;)
ok, need to launch anti-trust suit against asia's largest and richest too! LOL.
Now it looks more and more like LKS. Who's afraid of FEO ? :cool:
hmm, if its LKS then there is a motive behind it too. They are going to launch their only other landbank near Pierce Reservoir, which is nearby, soon rite?
;)
ok, need to launch anti-trust suit against asia's largest and richest too! LOL.
Quite possible, some more HK measure more jilat than s'pore, pump more $ tis side
The next cooling measures should target developers... :simmering:
Errrr..... Receive some in for on far east project at parkway near to silver sea one launched at ard $1700 Psf after 20% discount....... This new bid is going to set rec prices in OCR region?
phantom_opera
24-02-11, 19:11
If LKS, FEO must be laughing now
Winning bidder is CapitaLand lah. Now, d'Leedon looks really cheap!
The next cooling measures should target developers... :simmering:
Should target the valuers.
It's the valuers that support the very high prices at new launches. Without the support of valuers, banks can't lend the full amount to the buyers. Then, no one will bite.
Why are prices of new launches so much higher than surrounding older properties? Try getting a valuer to support a price close to new launches? good luck to you. It's all the valuer's fault
Who are the valuers? They are the some firm whose agents will sell the properties.
They are in collusion with the developers.... :tsk-tsk:
phantom_opera
24-02-11, 19:31
Winning bidder is CapitaLand lah. Now, d'Leedon looks really cheap!
Unbelievable ... CapitaLand was fighting with minority owners of Gillman Height where they enbloced for 3XXpsf ... now they are paying 2.5 times more for Bishan?!
Tummysick company, HDB dares to say no to top bidder?? :tsk-tsk:
They also got Bedok Central at high price, could have won if put in 688,888,888 :doh:
1
Brilliance Residential (1) Pte. Ltd. and Brilliance Trustee Pte. Ltd.
$788,888,888
9,051.28
2
Moon Holdings Pte. Ltd. and UED Capital Venture Pte. Ltd.
$650,888,099
7,467.94
my my, capitaland on buying spree, 1st marine pt, now this....
Is there something they know that we don't:beats-me-man:
so far Capitaland does not believe in MM units, lets see if it is true ~
phantom_opera
24-02-11, 19:36
my my, capitaland on buying spree, 1st marine pt, now this....
Is there something they know that we don't:beats-me-man:
Simple, low interest rate high inflation to continue at least for another 3-4 years loh :simmering:
I didn't know capitaland was that aggressive, and considering that this is not CCR.
phantom_opera
24-02-11, 19:44
“We are amazed at the prices that come out (in government land tenders),” he said. “Not that we are jealous but when we look at the numbers, we know that we can't do it. So in a way, we agree that there is some speculative chasing for land.
recent interview with Mr Liew from Capitaland
=> hmm ... :confused: :rolleyes:
...and i thought they still have alot of units at d'leedon and interlace to sell? :confused:
If I am not wrong, J8 belongs to Capitaland and perhaps that explain one of the reason in it's agressive bidding...
Business Times - 23 Feb 2011
CapitaLand looks to invest $5-6b this year
By KALPANA RASHIWALA
(SINGAPORE) CapitaLand is looking at $5-6 billion of new investments this year, after committing more than $6 billion towards new investments last year, the group's president and CEO Liew Mun Leong said yesterday.
This could include mergers and acquisitions as well as purchases of sites.
Property cooling measures introduced by the authorities in China and Singapore will help to stabilise the respective markets and CapitaLand is hoping to use the opportunity to secure acquisitions at 'more realistic' prices, Mr Liew said.
The group's chief investment officer Wen Khai Meng also said the group will want to originate more private equity funds and Reits when appropriate.
The group currently manages six Reits and 17 private equity funds with assets under management (AUM) of about $30.4 billion at the end of last year, making it one of the biggest real estate fund managers in Asia.
CapitaLand's end-2010 AUM figure reflects an increase of 18.9 per cent from the $25.6 billion at end-2009.
Market watchers reckon that the group could mint new private funds for residential, retail and serviced apartment properties in its major markets like Singapore, China, Malaysia and Vietnam.
Another possibility was to float a Reit holding the group's Raffles City projects in China.
Red"]Mr Liew stressed that in seeking investments, the group will be aggressive but disciplined at the same time. He also indicated the group's preference to buy residential sites in Singapore for instance through collective sales, particularly through private treaty negotiations, where prices are more open, as this system reduces the risk of overpaying, rather than 'blind tenders' as in the case of state land sales, where the winning bidder may end up paying a few hundred million dollars more than the competition.[/SIZE]
In addition to cash of $7.2 billion on its balance sheet as at end-2010, the group can borrow an additional $6 billion assuming a gearing ratio of 0.5. 'So we have enormous capacity for investment and growth in our business portfolio,' Mr Liew said.
Asked why CapitaLand did not issue special dividends for FY2010, the group's CFO Olivier Lim said: 'If we didn't see opportunities in front of us, certainly we will return a lot of cash to shareholders, but the truth is we see a lot of opportunities. You can't raise money just in time... There is a psychological element as well.
'When you see a deal come through, it is not sufficient to have just enough for that deal; you need to have sufficient capacity, that there is some element of safety so the management and the board have some comfort in executing a transaction.'
On prospects for the Singapore residential sector following the government's cooling measures announced in January, Mr Liew said that the mass market would be 'moderated, may be flattish, but it won't go down so much, volumes may be affected in the first few months'.
However, the high-end segment, which is influenced by well-heeled foreign buyers and locals, should see some growth.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Look at this joke
phantom_opera
24-02-11, 20:21
In addition to cash of $7.2 billion on its balance sheet as at end-2010, the group can borrow an additional $6 billion assuming a gearing ratio of 0.5. 'So we have enormous capacity for investment and growth in our business portfolio,' Mr Liew said.
The truth is it has 7 billion of cash which is eroded day by day by low FD and high inflation rate, now it really make sense ;) In low interest and high inflation environment, our Tummysick co also prefers to hold physical asset :simmering:
550 mio only 7% of their cash ....
U all think MBT is pissed?
If I am not wrong, J8 belongs to Capitaland and perhaps that explain one of the reason in it's agressive bidding...
yes, J8 under capitamall trust.
U all think MBT is pissed?
Am sure, day b4 Mr Liew give impression that they will not chase tender pricing, next day bid 27% higher, think his back room team need to be shot...., outbid others by miles apart...
U all think MBT is pissed?
For sure wor. He is trying very hard to "cool" yet this bidding proved otherwise. Best of all, it's so near to "erection" (sorrry peter:D :D :D ).
What a good timing!
All will soon be forgotten. Remember SPH's bid for clementi mall?
phantom_opera
24-02-11, 20:33
if capitaland used even half of that 7 billion cash to bid for GLS .... i think can win all of this year supply :cheers1:
if capitaland used even half of that 7 billion cash to bid for GLS .... i think can win all of this year supply :cheers1:
for all you know, they could be planning just that after quiet few years.
This is like highest land bid for RCR ? Sell at 1500? D'leedon is cheap for CCR! yes u heard me , CHEAP. Farrer court enbloc at 700+++++ Psf . Interlace is dirty cheap!!!! :banghead:
Perhaps, the war chest of $7b was meant for some big enbloc projects (possibly Tulip Gardens or Pandan Valley) which they shelf for the time being, just tikam Bishan 1st...
Perhaps, the war chest of $7b was meant for some big enbloc projects (possibly Tulip Gardens or Pandan Valley) which they shelf for the time being, just tikam Bishan 1st...
Tulip FREEHOLD 380,000 sqft only asking 650m . CCR good location......
Yeah, how did d'leedon, an iconic project in farrer become dirt cheap.
Condo site tender in Bishan attracts record 19 bids
By Jo-ann Huang | Posted: 24 February 2011 2048 hrs
SINGAPORE: A 99-year leasehold land site for condominium housing in Bishan has attracted a record 19 bids at the close of its tender by the Housing & Development Board (HDB), the highest number of bids in 12 years.
This is just one bid higher than the Simei Street 3 land site tender in May last year. The site has since been developed into the My Manhattan by CEL Development.
The highest bid came from CapitaLand at S$550.1 million or S$869 per square foot per plot ratio (psf ppr) submitted through its wholly-owned subsidiary Bishan Residential Development.
CapitaLand's bid is 27 per cent higher than the second highest bidder Keppel Land Realty, which submitted a bid of S$432.3 million.
"This indicates the developer's very bullish outlook for the residential market in Bishan," said Nicholas Mak, executive director of research at SLP International.
The land parcel is in the reserve list of the government land sales or GLS programme. It is considered one of the GLS programme's most attractive sites for the first half of this year.
Located at Bishan Street 14, the site is a short walk to Bishan MRT Station and Junction 8 shopping mall. Nearby schools include Catholic High School and Raffles Institution.
The land has a size of 11,997 square metres and a maximum gross floor area of 58,800 square metres with a gross plot ratio of 4.9.
CapitaLand said in a statement that it plans to build a condominium which is at least 36 storeys with 600 units.
"Based on caveats lodged between October 10 to January 11, units in Centro Residences at Ang Mo Kio Central were sold at S$1,200 psf to S$1,400 psf," said Li Hiaw Ho, executive director of CBRE Research.
"The winning bid for the Bishan site suggests that the developer is looking to sell the units at around S$1,400 psf," said Mr Li.
Menawhile, Mr Mak added that the break even cost for the project will be about S$1,290 to S$1,320 psf, which is about 30 per cent more than the resale prices of existing condomiums in Bishan.
He added that the high number of bidders indicate that many developers share the same land acquisition strategy - to buy prime development sites near MRT stations or to have an iconic product.
"They do this in the hope to hedge against the risk of oversupply of non-landed units that could be developed from other GLS sites," said Mr Mak.
-CNA/ac
Tulip FREEHOLD 380,000 sqft only asking 650m . CCR good location......
is that offer still on the table? They should just grab it then.
Tulip FREEHOLD 380,000 sqft only asking 650m . CCR good location......
Am sure Tulip Gardens residents now also fed up, wondering why Mr Liew din take up their condo, instead bid for OCR...
Unless there's some major transformation in the pipeline, why are they bidding at this price? Are they planning to transform J8 into a Nex equivalent? I'm wondering what's their motivation to grab it at these levels.
is that offer still on the table? They should just grab it then.
Confirm on the table. Capitaland shld buy tulip garden then join venture with guocoland and launch Leedon collections. DLeedin first phrase sell cheap.
is that offer still on the table? They should just grab it then.
Last heard deadline ( 2.30pm on 20 Jan 2011 ) passed without bids.
Confirm on the table. Capitaland shld buy tulip garden then join venture with guocoland and launch Leedon collections. DLeedin first phrase sell cheap.
I doubt so, believe both companies dun see eye to eye. Guccoland Leedon Heights condo is due to be launched, just opposite D'Leedon and someone in this forum observe that Guccoland was seen rebuilding their Leedon Heights show flat after seeing the huge show flat of d'leedon
The article mentioned gross plot ratio of 4.9. That has to be the highest plot ratio.
They can always tear down the show flat and rebuild again ifnthey decide to join force and build another iconic project on both the land ofmleedon residences and tulip garden combined....
Unless there's some major transformation in the pipeline, why are they bidding at this price? Are they planning to transform J8 into a Nex equivalent? I'm wondering what's their motivation to grab it at these levels. if one look at the Master Plan and HDB land drawing, besides this plot, there are another 3 plot adjacent, closer to the MRT station, side by side....secure foothold, monopolize...subsequently
http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/CORPORATE_PR_24022011_LOCATION%20PLAN/$file/Location+Plan_24Feb11.pdf
I doubt so, believe both companies dun see eye to eye. Guccoland Leedon Heights condo is due to be launched, just opposite D'Leedon and someone in this forum observe that Guccoland was seen rebuilding their Leedon Heights show flat after seeing the huge show flat of d'leedon
Hahaha I posted that, tear down n rebuild big big, n post LUXURY FREEHOLD
The other pieces of land is even better than the one capitaland bought much closer to mrt and mall... So 1000 psf ppr? Lolx
Yeah, that's hat I was thinking. Lots more land next to the Bishan site just bidded on. Should just release the rest now.
The other pieces of land is even better than the one capitaland bought much closer to mrt and mall... So 1000 psf ppr? Lolx
Maybe they are thinking the plot next to the main Bishan Road, nearest to the MRT, they can apply to change to mixed of commercial and residential...., make Junction 8 phase 2... Extension, something like Jurong Point
I m sure their tag line will be, land for building only 10%, 90% for facilities n landscaping. Record height of 45 stories. Plot ratio 2.8 already 36 storey. Bishan Iconic development
The other pieces of land is even better than the one capitaland bought much closer to mrt and mall... So 1000 psf ppr? Lolx
if they allow a mixed development on those plot, who knows. This forum was talking about 1000psf as the new benchmark for suburban condos. Now it turns out, perhaps in the not too distant future, that's the standard for psf ppr?!
Maybe they are thinking the plot next to the main Bishan Road, nearest to the MRT, they can apply to change to mixed of commercial and residential...., make Junction 8 phase 2... Extension, something like Jurong Point
Same as my thinking bro!!! They must know something right. Capitaland govt affiliated right?
I m sure their tag line will be, land for building only 10%, 90% for facilities n landscaping. Record height of 45 stories. Plot ratio 2.8 already 36 storey. Bishan Iconic development
maybe they'll rival orchard resi or duxton for height, and dwarf Bishan loft.
bargain hunter
24-02-11, 21:12
Capitaland's share price today is at its lowest price since May 2009. tomorrow possibly going to sink further on this news. :D
my my, capitaland on buying spree, 1st marine pt, now this....
Is there something they know that we don't:beats-me-man:
Same as my thinking bro!!! They must know something right. Capitaland govt affiliated right?
the corner plot is quite a distance away from J8. Unless they intend to swallow all other available plots there and do an integrated centre.
I m not surpassed if they will try and bid for all the other sites and build integrated condo, connected all the way..... From met, j8, etc.... Then it will be a first...
Capitaland's share price today is at its lowest price since May 2009. tomorrow possibly going to sink further on this news. :D
CAPL with all the cash on hand and yet refused to give a special dvd like what every one else is doing :mad:
bargain hunter
24-02-11, 21:28
CAPL is not NET CASH. it has a lot of cash but it also has A LOT OF DEBT. if pay special div, then how is it going to pay for all these sites?
CAPL with all the cash on hand and yet refused to give a special dvd like what every one else is doing :mad:
Same as my thinking bro!!! They must know something right. Capitaland govt affiliated right? Ya, just check 2009 Annual Report, Temasek still the biggest shareholders at 39%+ . This was a merger of DBSLand and PidemcoLand in the past..., can leverage on connections
CAPL is not NET CASH. it has a lot of cash but it also has A LOT OF DEBT. if pay special div, then how is it going to pay for all these sites? Ya, that's why their share price is depressed.., shareholders also don't have capital gains..of late...share price keep dropping..., sian
Hahaha I posted that, tear down n rebuild big big, n post LUXURY FREEHOLD oh, good observation...
Ya, just check 2009 Annual Report, Temasek still the biggest shareholders at 39%+ . This was a merger of DBSLand and PidemcoLand in the past..., can leverage on connections
That is precisely why I find it strange.... On one hand MBT wants to cool the market on the other hand two of the highest bidder are GLCs lolx
That is precisely why I find it strange.... On one hand MBT wants to cool the market on the other hand two of the highest bidder are GLCs lolx
Mr Liew performance is assessed by P&L , he still need to account to the other 60% shareholders who are not GLC linked ma, while MBT objective is to make sure he get PAP elected in and don't lose his seat, don't pissed off the general public, make sure majority of the HDB dwellers are happy with their assets appreciation...., remember what MM say, dun sell your HDB, u may regret later...
bargain hunter
24-02-11, 21:48
time for shareholders to go AGM to kao bei. :)
Ya, that's why their share price is depressed.., shareholders also don't have capital gains..of late...share price keep dropping..., sian
if i m not wrg to classify Bishan as OCR then.....
2011
CCR Vs OCR
0 1
Capitaland flexi muscle. Maybe LML purposely mislead competition by statement on 23rd FEb in Business Times. Then last min 24th Feb give a winning blow. Seems this land is ultra hot! 19 developers wor. Anyway as a CCR support, i need to award 1 point to OCR bishan. :scared-3:
bargain hunter
24-02-11, 21:49
ok lah. at least Keppel's bid was more reasonable.
for capitaland, maybe its the bidding team who did it? tomorrow maybe the whole team has lost their jobs LOL.
That is precisely why I find it strange.... On one hand MBT wants to cool the market on the other hand two of the highest bidder are GLCs lolx
time for shareholders to go AGM to kao bei. :)
Ya man, share price dropped, no good dividend, make sure they have good buffet food with Abalone and Lobster for all to" ta bao "back
bargain hunter
24-02-11, 21:51
but like u said, the other 60% shareholders already unhappy with share price at multi year lows. now they do this, which could turn out to be a high risk, low margin project, lagi more unhappy.
Mr Liew performance is assessed by P&L , he still need to account to the other 60% shareholders who are not GLC linked ma, while MBT objective is to make sure he get PAP elected in and don't lose his seat, don't pissed off the general public, make sure majority of the HDB dwellers are happy with their assets appreciation...., remember what MM say, dun sell your HDB, u may regret later...
time for shareholders to go AGM to kao bei. :)
if successful sells at 1600 psf n more cos of some special land tender to build Bishan J8 part 2 just on top of Circle line juntion, it might just be the winning combo if they are able to make it an iconic developement. Not just ran of the mill we see nowadays.
He dont seems like a stupid guy to say 1 thing n do 1 thing the next day. 550m bid sure need his signature.
Actualy in oct last year, capitaland held an investor day at RWS
https://capitalandinside.com/index.php/investment/643-capitaland-investor-day-2010
Limited seats...., since then share price only go down....
Bishan should be RCR wor. :D
if i m not wrg to classify Bishan as OCR then.....
2011
CCR Vs OCR
0 1
Capitaland flexi muscle. Maybe LML purposely mislead competition by statement on 23rd FEb in Business Times. Then last min 24th Feb give a winning blow. Seems this land is ultra hot! 19 developers wor. Anyway as a CCR support, i need to award 1 point to OCR bishan. :scared-3:
http://i276.photobucket.com/albums/kk36/sleek00000/Map_CCR.jpg
Bishan should be RCR wor. :D
http://i276.photobucket.com/albums/kk36/sleek00000/Map_CCR.jpg
opps pardon my ignorance n lowly knowledge. Call it OCR as most housing there are HDBs and seems like heartland. My apologises.
In that case RCR scores 1 hit.
Good observation Sleek, actually Bishan- RCR kinda forgotten by many ..cos not much happening, Junction 8 Opened for so many years already, overshadowed by Nex recently.
Those who bought Centro will surely heave a sigh of relief...
Those who bought Centro will surely heave a sigh of relief...
Surely going to turn into happiness :scared-4:
rattydrama
24-02-11, 22:27
I am a believer of MRT and this shows that MRT, convenient + bishan is the magic word. condo psf price near MRT will transform to a new height.
my view is Bishan will always be Bishan, I good gauge will be the re-sale flat of HDB in Bishan topped the rest of the estate even if this is not CCR.
And we are not talking selling at record price. AMK FEO project sells well 1100psf rite? So Bishan will sell better. Lakefront 1200psf with nothing only MRT and story....
Bishan no story to tell as it is all there and 1200psf should not be a record price.. so 1500psf may have takers wor..... MM units.....
my take will be same as bargain hunter.
[QUOTE=bargain hunter]
it depends on whether the winner is Far East or not.
If far east,
My take on successful bid is $703
My guess on launch price is $1400 to $1600 (1600 for studio)
If not far east,
My take on successful bid is $668
My guess on launch price is $1300 to $1500
and i still think i m underestimating the potential.
Quote:
Originally Posted by kingkong1984
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
Maybe they have formula error that resulted 27% higher lah. Maybe now ah liew cold feet liao. Anyway gd luck to capitalland and future buyer :cool:
I am a believer of MRT and this shows that MRT, convenient + bishan is the magic word. condo psf price near MRT will transform to a new height.
[quote=bargain hunter]
it depends on whether the winner is Far East or not.
If far east,
My take on successful bid is $703
My guess on launch price is $1400 to $1600 (1600 for studio)
If not far east,
My take on successful bid is $668
My guess on launch price is $1300 to $1500
and i still think i m underestimating the potential.
Quote:
Originally Posted by kingkong1984
That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.
My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.
I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?
My take on successful bid is $.....
My guess on launch price is $... to $....
bro, u havnt been reading the previous posting???? The highest bid came from CapitaLand at S$550.1 million or S$869 per square foot per plot ratio (psf ppr). The winning bid for the Bishan site suggests that the developer is looking to sell the units at around S$1,400 psf," said Mr Li.
Menawhile, Mr Mak added that the break even cost for the project will be about S$1,290 to S$1,320 psf, which is about 30 per cent more than the resale prices of existing condomiums in Bishan.
?????????????????????????????????????????????????? get ready to fall off your chair ba. I think they should launch ard 1500-1600 for lower floor and 1800-1900 for high high floor , eg 30-45 flrs
maybe they're trying to show the investors they are back in the game in a big way. It's a little ironic that they are described as a developer but done little in that area in the past 2 years.
rattydrama
24-02-11, 22:46
[quote=rattydrama]I am a believer of MRT and this shows that MRT, convenient + bishan is the magic word. condo psf price near MRT will transform to a new height.
haha, I fall off the chair as I am optimistic of the high price but the price went even higher!!:spliff: either developer is hiong or I underestimate the power of MRT and shopping centers!
bro, u havnt been reading the previous posting???? The highest bid came from CapitaLand at S$550.1 million or S$869 per square foot per plot ratio (psf ppr). The winning bid for the Bishan site suggests that the developer is looking to sell the units at around S$1,400 psf," said Mr Li.
Menawhile, Mr Mak added that the break even cost for the project will be about S$1,290 to S$1,320 psf, which is about 30 per cent more than the resale prices of existing condomiums in Bishan.
?????????????????????????????????????????????????? get ready to fall off your chair ba. I think they should launch ard 1500-1600 for lower floor and 1800-1900 for high high floor , eg 30-45 flrs
maybe they're trying to show the investors they are back in the game in a big way. It's a little ironic that they are described as a developer but done little in that area in the past 2 years. Think CapitaLand team have been busy with D'Leedon project...
haha paiseh i miss read your meaning :eek:
Think CapitaLand team have been busy with D'Leedon project...
not much to be busy there since they've yet to launch second phase.
[quote=rattydrama]
i think alot of pple blur! i just had coffee with a friends. He is shocked also at the kind of price bidded. Seems the next measure will be developer kanna.
rattydrama
24-02-11, 23:10
haha paiseh i miss read your meaning :eek:
ya, I follow this project right from the start. :doh:
my singnet very lousy always DC. contemplating to switch provider.
maybe suddenly realised inflation is here so whatever is expensive now will be cheap later on. It is the same when people are :doh: :doh: :doh: :doh: about 500 ppr psf land cost for lakefront. Just merely 1.5 years later, its 856 ppr psf for bishan.
so be your own judge. But it has to be a long term view cos short term, there are many old projects not too good location selling at attractive price.
If buying new project must be very selective.
size of Kitchen so small, tiny and without partition these days how to cook extensive meals? condo next to eateries should be a must now. :2cents:
i think alot of pple blur! i just had coffee with a friends. He is shocked also at the kind of price bidded. Seems the next measure will be developer kanna.
by raising developmental charges? but if the developers could choose, they will pass that cost to the end buyer.
not much to be busy there since they've yet to launch second phase. busy brainstorming for Mr Liew, or NATO..., slowly 2 years passed...:D
Regulators
24-02-11, 23:13
wow, so much excitement about bishan
by raising developmental charges? but if the developers could choose, they will pass that cost to the end buyer. What u said is highly possible, the last time adjustment or increase was annoucement in Aug 2010, and for the half period ending 28th Feb 2011...
http://www.thegovmonitor.com/world_news/asia/singapore-revises-development-charge-rates-37892.html
Singapore Revises Development Charge Rates
Source: Government of Singapore (http://news.gov.sg)
Posted on: 31st August 2010
The Ministry of National Development has revised the development charges (DC) rates for the period from 1 September 2010 to 28 February 2011.
The review is carried out on a half-yearly basis, in consultation with the Chief Valuer
rattydrama
24-02-11, 23:17
the plot of land next to bedok MRT mixed development got very good reasons to sell at 1500psf now. can anyone recall who is the developer? recall should be capitaland rite?
rattydrama
24-02-11, 23:19
What u said is highly possible, the last time adjustment or increase was annoucement in Aug 2010, and for the half period ending 28th Feb 2011...
http://www.thegovmonitor.com/world_news/asia/singapore-revises-development-charge-rates-37892.html
Singapore Revises Development Charge Rates
Source: Government of Singapore (http://news.gov.sg)
Posted on: 31st August 2010
The Ministry of National Development has revised the development charges (DC) rates for the period from 1 September 2010 to 28 February 2011.
The review is carried out on a half-yearly basis, in consultation with the Chief Valuer
not very wise to do that if that is in the gov plan ...either the cost to pass to home buyer or developer go bankrupt wor?... which is highly possible?
tats why now gov flood the market with more land to curb demand.
the plot of land next to bedok MRT mixed development got very good reasons to sell at 1500psf now. can anyone recall who is the developer? recall should be capitaland rite?
Yes CapitaLand.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1080951/1/.html
2 days ago, ST report quoting Mr Liew saying that CapitaLand will launch this project in 3rd Qtr tis year
What u said is highly possible, the last time adjustment or increase was annoucement in Aug 2010, and for the half period ending 28th Feb 2011...
http://www.thegovmonitor.com/world_news/asia/singapore-revises-development-charge-rates-37892.html
Singapore Revises Development Charge Rates
Source: Government of Singapore (http://news.gov.sg)
Posted on: 31st August 2010
The Ministry of National Development has revised the development charges (DC) rates for the period from 1 September 2010 to 28 February 2011.
The review is carried out on a half-yearly basis, in consultation with the Chief Valuer
this is hardly effective if the cost is absorbed by the end buyer.
rattydrama
24-02-11, 23:26
Maybe they have formula error that resulted 27% higher lah. Maybe now ah liew cold feet liao. Anyway gd luck to capitalland and future buyer :cool:
how can? this is my simple reasoning. my fren bou HDB @ 200k in 2006 @ Jurong West extension and is now able to fetch 5xxk if he sells upon MOP. He stands a chance to pocket 300K which allows him to buy at 1500psf given his income and the windfall profits he made.
plus he get to upgrade to a more centralized place nearer to town.
Been relooking at this report on 23rd Feb 2011, actually Capitaland give hint that they going for this Bishan site ( = city fringe site, near MRT stations):
http://www.businesstimes.com.sg/sub/companies/story/0,4574,427256-1298491140,00.html?
........
The unit sold 800 homes in Singapore last year and plans to launch 1,700 units this year, including a project in Bedok Town Centre with about 500 apartments slated for release in the third quarter of this year. It is also gunning to release a condo with about 150 units on the Marine Point site early next year.
CapitaLand Residential Singapore CEO Wong Heang Fine said the group is in a very strong financial position to acquire more prime sites in Singapore including those near MRT stations or at the city fringe.
Since the Singapore government announced property cooling measures on Jan 13, the group has sold 74 homes here. These include 23 of 150 units released at d'Leedon on Feb 18 (including a penthouse at over $6 million) and 12 of 250 units released at The Interlace on Feb 19.
.
rattydrama
24-02-11, 23:28
haha.....so capitaland is the underdog....not FEO......big reasons for bedok....now we see the picture.....:cheers1:
Yes CapitaLand.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1080951/1/.html
2 days ago, ST report quoting Mr Liew saying that CapitaLand will launch this project in 3rd Qtr tis year
rattydrama
24-02-11, 23:30
and not so much but also for the interlace and the d'leedon........
Bishan, good schools linked to Lee family. RI (MM ) RJC, Catholic High (PM LEE alumni)
FEO has finally met some stiff competition from a local heavyweight for sites near MRT.
Those who bought Centro will surely heave a sigh of relief...
What aboutnthose who bought dleedon then? :)
Laughing at Capitaland for underpricing d'leedon?
Laughing at Capitaland for underpricing d'leedon?
If buyers smart they will definitely buy dleedon tomorrow... But knowing Singaporean mentality they will think bishan is overpriced and not that dleedon is underpriced... So they wait....
Then come one fine day suddenly newspaper announced that volumes goes up and people start to panic and start to anyhow buy and then price goes up and herd mentality start
If buyers smart they will definitely buy dleedon tomorrow... But knowing Singaporean mentality they will think bishan is overpriced and not that dleedon is underpriced... So they wait....
Then come one fine day suddenly newspaper announced that volumes goes up and people start to panic and start to anyhow buy and then price goes up and herd mentality start
I bet there are tonnes of resale at the farrer area offering better value but the draw of newness in d'leedon somehow always trumps everything else.
devilplate
25-02-11, 00:15
pls do not use my manhattan .... greenwich and this one to compare other ppty prices....it cud b a trick to cr8 an illusion to sell their existing unsold stock....:eek:
Agts at manhattan is using tat bedok plot to sell ....they told me manhattan at 1.2-1.4kpsf will become very cheap when bedok one launch at 1.5-1.7kpsf...:scared-5:
kingkong1984
25-02-11, 05:10
At such land prices, everything else looks cheap. However, you have to look at the number of units over the total number of unsold units. It will be clear that some would be mislead to jump in at such high prices.
10000 unsold units at 1000 psf
Create 1000 units at 1500 psf
Clear stock clear stock.
pls do not use my manhattan .... greenwich and this one to compare other ppty prices....it cud b a trick to cr8 an illusion to sell their existing unsold stock....:eek:
Agts at manhattan is using tat bedok plot to sell ....they told me manhattan at 1.2-1.4kpsf will become very cheap when bedok one launch at 1.5-1.7kpsf...:scared-5:
disregarding capitaland's top bid for a moment. Assume Keppel Land won at 680psf, they would probably sell at about 1300-1400psf. That also makes a lot places look cheap.
rattydrama
25-02-11, 07:12
Happenings back to the east and central areas instead of the west now.
For the plot next to Jurong East MRT how much will be the launch price?
Can easi easi launch at 1200 psf and fully sold wor.
Seems cooling measures makes more people pouring money into property.
.
phantom_opera
25-02-11, 07:27
Cannot compare D Leedon with OCR near MRT, different market segments. D Leedon big size quantum starting from 9XXk, OCR near MRT small size quantum starting from 5XXk.
Even if Bishan launched at 1.5kpsf, most likely will be 4XXsqft so quantum remains at 6XXk for studio. If D Leedon also sells 4XXsqft, the psf could be close to 2kpsf.
As I said b4, 3br HDB built in 198X all above 300k, OCR 2br brand new with better privacy + facilities now 743sqft X 9XXpsf, perfect for upgraders.
309 Shunfu Rd 11 to 15 67.00sqft
New Generation 1984 $390,000.00
116 Bishan St 12 01 to 05 84.00sqft
Simplified 1985 $415,000.00
proud owner
25-02-11, 07:47
Am sure Tulip Gardens residents now also fed up, wondering why Mr Liew din take up their condo, instead bid for OCR...
small projects easy to enbloc .. fewer residents to deal with
big projects like Tulip/pandang v so many residents ...
will deifinitely encounter problems with a small % of residents who oppose the enbloc
developers all fear the long fight .. Thanks to Horizon tower ... the fight wasted both time and money ...
devilplate
25-02-11, 08:07
disregarding capitaland's top bid for a moment. Assume Keppel Land won at 680psf, they would probably sell at about 1300-1400psf. That also makes a lot places look cheap.
at least 1.3-1.4k is on par with existing centro....may not have any effect....
1.5-1.7k definitely got some impact:D
bubble bubble:cheers6:
devilplate
25-02-11, 08:10
Cannot compare D Leedon with OCR near MRT, different market segments. D Leedon big size quantum starting from 9XXk, OCR near MRT small size quantum starting from 5XXk.
Even if Bishan launched at 1.5kpsf, most likely will be 4XXsqft so quantum remains at 6XXk for studio. If D Leedon also sells 4XXsqft, the psf could be close to 2kpsf.
As I said b4, 3br HDB built in 198X all above 300k, OCR 2br brand new with better privacy + facilities now 743sqft X 9XXpsf, perfect for upgraders.
309 Shunfu Rd 11 to 15 67.00sqft
New Generation 1984 $390,000.00
116 Bishan St 12 01 to 05 84.00sqft
Simplified 1985 $415,000.00
however this bishan 2bedder cud be from 750sqftX1500psf=1.125mil.....exceed 1mio oredi....can bishan 3rm upgrader stomach it? more like bishan 5rm flat downgrade to 2bedder condo....LOL
If you read today's Straits Times back page on this report, can't help finding that report is similar to discussion here. Several main points seem to be the same. The Irony of Mr Liew mentioned 2 days before that this close of tender that CapitaLand will not overbid but this site they outbid by 27% also highlighted...hmmm
at least 1.3-1.4k is on par with existing centro....may not have any effect....
1.5-1.7k definitely got some impact:D
bubble bubble:cheers6:
centro made a lot f places cheap to begin with, then it was Greenwich and my manhatten. It's being reinforced and perpetuated.
phantom_opera
25-02-11, 08:27
however this bishan 2bedder cud be from 750sqftX1500psf=1.125mil.....exceed 1mio oredi....can bishan 3rm upgrader stomach it? more like bishan 5rm flat downgrade to 2bedder condo....LOL
Low floor (<15) should be around 1mio for 1+S (1500X660) or 2br (1400X721).
If > 15 floor, then consider upgrade :p
Again, also depends on quality of furnishing, other goodies such as a roof garden, function room at 20+ floor etc. Something like The Vision is inspiring.
103 Bishan St 12 06 to 10 121.00
Improved 1986 $636,000.00
192 Bishan St 13 06 to 10 120.00
Improved 1987 $680,000.00
If you read today's Straits Times back page on this report, can't help finding that report is similar to discussion here. Several main points seem to be the same. The Irony of Mr Liew mentioned 2 days before that this close of tender that CapitaLand will not overbid but this site they outbid by 27% also highlighted...hmmm
perhaps they were looking at the redevelopment potential for that area and derived that number. For 27%, they have to be visioning something different from Keppel. But frankly, J8 could use a major overhaul. It's losing out to AMK hub and Nex.
phantom_opera
25-02-11, 08:44
Likely to reach 40 storey ....residents living on higher floors can enjoy a good view as far as Macritchie Reservoir and Lower Peirce Reservoir.
And there is a project to bring Kallang river into Bishan Park isn't it ...
Can be marketed as Waterfront Living like Bedok Reservoir (surrounded by water water water) :D Throw in a roof garden at 41st floor :scared-5:
Obviously, CapitaLand nowadays never fail to "wow" people on its eccentric architecture like Interlace and D Leedon with odd layout (I can see feng shui master shaking their head in disbelief) ;)
Wild Falcon
25-02-11, 09:03
"Smart" = buy Leedon? You have an interesting definition of "smart".
If buyers smart they will definitely buy dleedon tomorrow... But knowing Singaporean mentality they will think bishan is overpriced and not that dleedon is underpriced... So they wait....
Then come one fine day suddenly newspaper announced that volumes goes up and people start to panic and start to anyhow buy and then price goes up and herd mentality start
Wild Falcon
25-02-11, 09:11
Very possible. Look at Capitaland recent projects like d'Leedon -small cramped layouts (almost MM) to squeeze out PSF with poor finishings. I'm not surprised FEO cannot outbid Capitaland. FEO is not that hot on this area in the first place.
Developer can still build MM and sell @ 1500psf, like Siglap V or Oxley's projects even if market has a downturn of 5% this year.
1,600psf X 400sqft = 640k
1,500psf X 600sqft = 900k
1,400psf X 750sqft = 1.05 mio
rattydrama
25-02-11, 09:59
If you read today's Straits Times back page on this report, can't help finding that report is similar to discussion here. Several main points seem to be the same. The Irony of Mr Liew mentioned 2 days before that this close of tender that CapitaLand will not overbid but this site they outbid by 27% also highlighted...hmmm
reportor copy cat :scared-5: :scared-5:
rattydrama
25-02-11, 10:02
Very possible. Look at Capitaland recent projects like d'Leedon -small cramped layouts (almost MM) to squeeze out PSF with poor finishings. I'm not surprised FEO cannot outbid Capitaland. FEO is not that hot on this area in the first place.
FEO now going North and remake the landscape there...eg greenwich....
reportor copy cat :scared-5: :scared-5: just realise that the postings on this forum belong to SPH..., so all of us are contributing to help their reporters write better
h....can bishan 3rm upgrader stomach it? more like bishan 5rm flat downgrade to 2bedder condo....LOL
Do not underestimate HDB dwellers in Bishan. There are lots of executive and/or big 5rm HDBs in Bishan, and for once this new condo is *more* convenient than *all* of them.
Look at this block, I just pick one nearest to the bus interchange, comparable to this site:
187 Bishan St 13 01 to 05 146.00
Maisonette 1987 $720,000.00 Dec 2010 187 Bishan St 13 01 to 05 146.00
Maisonette 1987 $705,000.00 Sep 2010 187 Bishan St 13 11 to 15 147.00
Apartment 1987 $740,000.00 Aug 2010 187 Bishan St 13 06 to 10 146.00
Maisonette 1987 $730,000.00 Jul 2010
Each one of them can easily upgrade to a 3bd unit at 1500 psf comfortably.
Do not underestimate HDB dwellers in Bishan. There are lots of executive and/or big 5rm HDBs in Bishan, and for once this new condo is *more* convenient than *all* of them.
Look at this block, I just pick one nearest to the bus interchange, comparable to this site:
187 Bishan St 13 01 to 05 146.00
Maisonette 1987 $720,000.00 Dec 2010 187 Bishan St 13 01 to 05 146.00
Maisonette 1987 $705,000.00 Sep 2010 187 Bishan St 13 11 to 15 147.00
Apartment 1987 $740,000.00 Aug 2010 187 Bishan St 13 06 to 10 146.00
Maisonette 1987 $730,000.00 Jul 2010
Each one of them can easily upgrade to a 3bd unit at 1500 psf comfortably. Most of the Executive HDB units dwellers can sell at $700k-$850k and i do believe they can afford to upgrade to a condo unit of quantum value $1.2m - $1.5m
Wild Falcon
25-02-11, 10:48
I hope this projects sells very badly when launched. Then no more cooling measures :) Developers should be punished every now and then. After all, they are the culprits causing the so-called bubble. Some more GLC.
Another Bishan 8 in the making - the same "bad" investment fengshui. Buy at 1500psf, after 10 years still may not beakeven.
Most of the Executive HDB units dwellers can sell at $700k-$850k and i do believe they can afford to upgrade to a condo unit of quantum value $1.2m - $1.5m
Are there that many buyers of Executive HDB flats in Bishan?
If 500 owners want to sell at $700k-850k. Are there 500 buyers to buy at that price?
Are there that many buyers of Executive HDB flats in Bishan?
If 500 owners want to sell at $700k-850k. Are there 500 buyers to buy at that price? There will not be 500 sellers in the 1st place but there will be buyers because Catholic High is a good school. Buy Bishan Executive to be 1km to school, am sure there will be. There won't be a need for 500 upgraders to snap up the new condo. There will be some young couples who want to stay near their existing parents flat in bishan. 500-600 units should not be a problem to sell out given that it is near MRT. Junction 8 is much establised shopping mall than Simei. Just try to park at Junction 8 underground parking on a weekend, it's impossible. Even weekday..., sometimes it is packed...
Wild Falcon
25-02-11, 11:00
Just last year, there were news of "most expensive" HDB sold for $1.1 million or close to $1 million in Bishan. So maybe developer use that as benchmark and assume lots of idiots stay in the area who are destined to lose money? The guy who bought at $1 million or $900k HDB also dunno when can make money looking at recent prices of $700-850k.
Are there that many buyers of Executive HDB flats in Bishan?
If 500 owners want to sell at $700k-850k. Are there 500 buyers to buy at that price?
CAPL just needs to learn from Keppel, keep size small 1100sh 3bd for small families, and keep quantum < 1.5M
... and assume lots of idiots stay in the area...
why are you so against Bishan ? I thought u should support them, as this is OCR and is bring up the overall OCR prices ? ;)
rattydrama
25-02-11, 11:05
Upside potential for bishan. Don't under rate. History to repeat? Maybe not cos else where the price already hit up high and the economic outlook is different compare to 10 years ago. We have foreigners who are buying at a price we won't pay but bishan apartment I am sure most Singaporean will pay. :spliff:
rattydrama
25-02-11, 11:08
CAPL just needs to learn from Keppel, keep size small 1100sh 3bd for small families, and keep quantum < 1.5M
This will be the thrend. Relatively small apartment with lots of facilities, convenient and good amenities. Next time resale also easy.
I was thinking of Centro, wondering why is it not selling.
proud owner
25-02-11, 11:12
I was thinking of Centro, wondering why is it not selling.
a very expenisve LH condo ... whose neighbours are HDBs .. simply too close
I hope this projects sells very badly when launched. Then no more cooling measures :) Developers should be punished every now and then. After all, they are the culprits causing the so-called bubble. Some more GLC.
Another Bishan 8 in the making - the same "bad" investment fengshui. Buy at 1500psf, after 10 years still may not beakeven.
If the project sell badly, then old projects how? If sell like hot cakes , it will bring up condo prices in nearby places.
Doesnt Tenner $1300 psf make alot of older freehold units look damn cheap also?
Just 2 years ago, 1k psf is like the resistance price. now is the min price. It definately seems like the housing inflation is going to hit the market in a big way.
rattydrama
25-02-11, 11:15
just realise that the postings on this forum belong to SPH..., so all of us are contributing to help their reporters write better
Otherwise where got so many ideas to report. I hope that pick up some of the good ideas contributed.
Some say ccr to chiong since psf lack behind 2007 figures. 2 weeks later full report to speculate ccr price to chiong. Later somwe say here OCR price hit ceiling... They reported quoted from agent OCR price to drop....
If they don't read from here where got so many ideas to write hehe
Next I guess will do a full report on upside potential for condos stone thriw away from mrt and future mixed project potential. :spliff:
rattydrama
25-02-11, 11:16
a very expenisve LH condo ... whose neighbours are HDBs .. simply too close
Bishan to jump before centro able to jump.
I was thinking of Centro, wondering why is it not selling.
actually it's a misconception that Centro is not selling. It's doing quite ok.
1st of all at the time Centro was launched, FEO's idea was clearly to benchmark all its other projects around the area.
2nd as of Jan 11, 178 out of 329 sold, at a consistently high psf (13xx-14xx). Higher floors are still not yet launched.
FEO is doing this slowly. A few units a month is enough. I'm sure it will sell until TOP.
rattydrama
25-02-11, 11:19
If the project sell badly, then old projects how? If sell like hot cakes , it will bring up condo prices in nearby places.
Doesnt Tenner $1300 psf make alot of older freehold units look damn cheap also?
Just 2 years ago, 1k psf is like the resistance price. now is the min price. It definately seems like the housing inflation is going to hit the market in a big way.
Can anyone shed some light what will be the impact if new launch prices keep going up in the next 2 q? Especially those with good location?
rattydrama
25-02-11, 11:23
actually it's a misconception that Centro is not selling. It's doing quite ok.
1st of all at the time Centro was launched, FEO's idea was clearly to benchmark all its other projects around the area.
2nd as of Jan 11, 178 out of 329 sold, at a consistently high psf (13xx-14xx). Higher floors are still not yet launched.
FEO is doing this slowly. A few units a month is enough. I'm sure it will sell until TOP.
And the rate of sales will be faster after capitaland bishan land sales. will FEO adjust the psf price? Power!
I was thinking of Centro, wondering why is it not selling. Personally, Centro launched in Aug 2009 after which cooling measures announced in Sep 2009. When other condo in the area was selling like $850-900 psf, they launched at $1.1k+psf i believe. I for one had the perception, wow very overpriced...no need to go and see, even if see - just look see look see. commitment to commit is not there.
2ndly, the actual sales gallery is not the actual site and further away - like about 500-700m away ,closer to Granduer 8 condo..., people perceived that it is not so near AMK MRT...
All in all, VVIP preview launch at wrong timing, launch price was some 20% higher than what other condo there is selling at, sales gallery make people perceived that it is not so near MRT are why i think it didn't do so well
And the rate of sales will be faster after capitaland bishan land sales. will FEO adjust the psf price? Power! U are right, FEO projects mostly the same, they prefer to sell slowly, phase by phase, always keep the higher floors till TOP or after TOP then release. Sometimes, if price no good when TOP, they just keep the higher floors units, rent out, later after a year or two, they even sell with tenancy. That's the different between FEO and most other developers who try to sell out with a Big Bank and fast ...
If buyers smart they will definitely buy dleedon tomorrow... But knowing Singaporean mentality they will think bishan is overpriced and not that dleedon is underpriced... So they wait....
Then come one fine day suddenly newspaper announced that volumes goes up and people start to panic and start to anyhow buy and then price goes up and herd mentality start
i always say for own stay just buy watever one likes and can afford, no need to wait.
If people still bite, we will perhaps see 50% LTV for the later quantum like $2mio and above.
If people still bite, we will perhaps see 50% LTV for the later quantum like $2mio and above.
A lot of pple doesn't want gov to interfere with private too much ba. The last measure already out of the world le!
A lot of pple doesn't want gov to interfere with private too much ba. The last measure already out of the world le! become same level as HK
rattydrama
25-02-11, 11:56
A lot of pple doesn't want gov to interfere with private too much ba. The last measure already out of the world le!
gov should interfere where appropriate otherwise alot of investor can die if the price crash.....
Personally, Centro launched in Aug 2009 after which cooling measures announced in Sep 2009. When other condo in the area was selling like $850-900 psf, they launched at $1.1k+psf i believe. I for one had the perception, wow very overpriced...no need to go and see, even if see - just look see look see. commitment to commit is not there.
2ndly, the actual sales gallery is not the actual site and further away - like about 500-700m away ,closer to Granduer 8 condo..., people perceived that it is not so near AMK MRT...
All in all, VVIP preview launch at wrong timing, launch price was some 20% higher than what other condo there is selling at, sales gallery make people perceived that it is not so near MRT are why i think it didn't do so well
Issit it the case always? When got new launches pple always cry so expensive, siao ah. Sure die!! Then after enough developments at that price range, pple accept it as the new norm. And after few years, u will see many shout missed the boat. I for 1 belong to the idiot grp whom think knows alot n missed the boat many times.
Some new launches few years like the sail @ 1200 , many shout crazy ah. When I buy RCR new flat at 400k peak peak price many say siao also. Today pple tell me I heng :scared-4:
Buy within your affordability n let the future unrap itself. Reserves n affordability is the key.
gov should interfere where appropriate otherwise alot of investor can die if the price crash..... that's why they have this 40% LTV, government probably think if crash 40% still OK, buyers die, banks still can repossess and firesale/bank sales and get back 60%...MAS survive, Bank survive, buyers die lo
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