View Full Version : Alexandra View leasehold site gets top bid of $970.18 psf ppr
A 99-year leasehold private housing site, Alexandra View (Parcel B), received a top bid of $332.7 million, or $970.18 per square foot per plot ratio (psf ppr) from Singland Homes.
The site, which was triggered after an unnamed successful applicant agreed to bid at least $222.9 million for the site, got a total of six bids.
A 99-year leasehold private housing site, Alexandra View (Parcel B), received a top bid of $332.7 million, or $970.18 per square foot per plot ratio (psf ppr) from Singland Homes.
The site, which was triggered after an unnamed successful applicant agreed to bid at least $222.9 million for the site, got a total of six bids.
Government want 650 psf ppr but developer bidded 970 psf ppr.:doh:
Government want 650 psf ppr but developer bidded 970 psf ppr.:doh:
So govt refund 320 psf ppr to singland to make condo more affordable???:confused:
Wah piang, selling price will be steam man... Now echelon will sell like hotcakes.
Guess how much will queens be worth????
How about FH twin regency?
Singland is on the roll these days. Very very bullish
Nov 2005 Bid 350psf ppr:
CAPITALAND and Lippo begin previewing their 45-storey The Metropolitan Condominium next to Redhill MRT Station this weekend. Sources say the price has yet to be finalised but is expected to average between $750 per square foot and $800 psf.
The developers are building the 99-year leasehold project on a site that they clinched at a state tender which closed in November last year. Their nearly $180 million top bid worked out to $350 psf of potential gross floor area. Analysts estimate The Metropolitan Condo's break-even cost at about $550-580 psf.
Dec 2007 Bid 639psf ppr:
A RESIDENTIAL plot in Alexandra Road has attracted a bullish top bid of $288.4 million despite recent talk of a cooling market.
Developer Wing Tai Land teamed up with building company Greatearth Construction to submit the top bid for the plum site near Redhill MRT Station and just outside the Central Business District.
The bid works out to $639 per sq ft (psf) per plot ratio (ppr), which broadly refers to the amount of floor space.
Dec 2011 Bid 755psf ppr
http://www.ura.gov.sg/pr/text/2011/pr11-165.html
And now......970psf ppr!!!!
:scared-3: :scared-1: :scared-4:
Bro, look to left and right of echelon, as, metropolitan, what do you see????
:confused: :confused:
Next to echelon
http://www.ura.gov.sg/sales/AlexView(PB)/tenderdocs/AVB-LPnCP.pdf
Mini Hong Kong in Alexandra. :D
Bro, look to left and right of echelon, as, metropolitan, what do you see????
:confused: :confused:
Sorry. I don't get you. See what?
:beats-me-man:
Sorry. I don't get you. See what?
:beats-me-man:
Ok. Name me 2 condos to the left, 2 condos to the right...
Ok. Name me 2 condos to the left, 2 condos to the right...
If looking north, from left to right would be Metropolitan & AS & Echelon & this new site.
Still got one vacant plot under reserve right in front of AS.
So except for the fact that land cost is higher & higher, is there anything else I'm missing?
Redhill MRT?
How much is echelon selling psf?
If looking north, from left to right would be Metropolitan & AS & Echelon & this new site.
Still got one vacant plot under reserve right in front of AS.
So except for the fact that land cost is higher & higher, is there anything else I'm missing?
Redhill MRT?
Bro, left of the bunch of echelon, ascentia, metro and this new site... Ok, cut this short... All pricing left and right of this bunch of condos going to go up...
Queens, anchorage
Valley park, Alexandrea
:cheers3:
How much is echelon selling psf?
With this bid price, u guess lor.... It will be "cheap"... :scared-5:
Bro, left of the bunch of echelon, ascentia, metro and this new site... Ok, cut this short... All pricing left and right of this bunch of condos going to go up...
Queens, anchorage
Valley park, Alexandrea
:cheers3:
Thank you.
So u huat lah!
It shd make Sky Habitat look affordable next year.
It shd make Sky Habitat look affordable next year.
skies already looking cheap a cheap now wahaha
Ascentia sky is suppose to be cheap then?
proud owner
11-12-12, 20:16
Ascentia sky is suppose to be cheap then?
Alessandra is FH even cheaper
further from MRT but closest to river valley
tanglin regency is cheap too ...GCB views and also not from from MRT
Alessandra is FH even cheaper
further from MRT but closest to river valley
tanglin regency is cheap too ...GCB views and also not from from MRT
you step into tanglin regency, you will puke. the mcst there has done an f-all job maintaining what could have been a great estate.
proud owner
11-12-12, 20:20
you step into tanglin regency, you will puke. the mcst there has done an f-all job maintaining what could have been a great estate.
really?
a friend's sister own a unit there from day 1 ...
shes never lived there ...has always been rented out and seems very easy to find tenant ..i do think its a better location compared to Metro
really?
a friend's sister own a unit there from day 1 ...
shes never lived there ...has always been rented out and seems very easy to find tenant ..i do think its a better location compared to Metro
Bro, tanglin regency is district 10, because entrance face tanglin... The rest are district 3.
proud owner
11-12-12, 20:26
Bro, tanglin regency is district 10, because entrance face tanglin... The rest are district 3.
oh yes
i forgot about that ,,..
Bro, tanglin regency is district 10, because entrance face tanglin... The rest are district 3.
No disrespect here.
But nowadays no one hiew which district it is in.
As long as near MRT, better still near mall etc, price will be accepted to be expensive.
No disrespect here.
But nowadays no one hiew which district it is in.
As long as near MRT, better still near mall etc, price will be accepted to be expensive.
Bro, please explain price of soleil vs Paterson which is not near mrt.
So river valley Cosmo should be cheaper than ascentia sky??
No offence at all... We all sharing... I not always rite...
:cheers3:
Sky habitat is so far from prime area. Cannot compete.
It shd make Sky Habitat look affordable next year.
Sky habitat is so far from prime area. Cannot compete.
Bro, I use hdb as reference gauge of condo prices...
Look at hdb in this areas -
Bishan, toa payoh, rochor, potong Pasir, kallang, marine parade, etc... Those form the basis of reference point...
Bro, please explain price of soleil vs Paterson which is not near mrt.
So river valley Cosmo should be cheaper than ascentia sky??
No offence at all... We all sharing... I not always rite...
:cheers3:
I meant to say the traditional D9, 10, 11 or the Bt Timah area used to be atas area and accepted to be expensive, ie command premier pricing.
But nowadays everywhere you turn, price around $1.2K psf even at OCR is acceptable.
MRT & amenities have leveled the pricing. In some cases, old condo in River Valley cheaper than OCR but of course on psf basis only lah.
I meant to say the traditional D9, 10, 11 or the Bt Timah area used to be atas area and accepted to be expensive, ie command premier pricing.
But nowadays everywhere you turn, price around $1.2K psf even at OCR is acceptable.
MRT & amenities have leveled the pricing. In some cases, old condo in River Valley cheaper than OCR but of course on psf basis only lah.
Bro, old river valley cheaper than 1.2k psf??? Where??? Which condo??? No joke bro... Which one???.
We should be seeing a lot of new records in 2013. Likely for at least one more round of CM to kick-in some time mid of next year.
We should be seeing a lot of new records in 2013. Likely for at least one more round of CM to kick-in some time mid of next year.
I think MAS is going to see a record surplus for 2012. Cant imagine how many billions they collect from land sale this year.
Does anyone have a record of all the GLS this year?
I think MAS is going to see a record surplus for 2012. Cant imagine how many billions they collect from land sale this year.
Does anyone have a record of all the GLS this year?
This is money borrowed from current and future generations. Nothing to be proud of, particularly when most people won't smell a single cent.
I think MAS is going to see a record surplus for 2012. Cant imagine how many billions they collect from land sale this year.
Does anyone have a record of all the GLS this year?
Perhaps.. Temasek needs the money...
Bro, old river valley cheaper than 1.2k psf??? Where??? Which condo??? No joke bro... Which one???.
Sorry if I confused you.
Old RV condo now also $1.5K psf whilst some OCR new already hit $1.6k psf. (correct me if I'm wrong)
But on average OCR now at $1.2k
Sorry if I confused you.
Old RV condo now also $1.5K psf whilst some OCR new already hit $1.6k psf. (correct me if I'm wrong)
But on average OCR now at $1.2k
Bro, your comparison needs to fine tune...
New condo to new condo
Old condo to old condo...
Cheers...
Alessandra is FH even cheaper
further from MRT but closest to river valley
tanglin regency is cheap too ...GCB views and also not from from MRT
for that area, if you are on the 30+ floor or higher, the view should be pretty delicious.
I think HDB flat around that area all huat ah.
Sorry if I confused you.
Old RV condo now also $1.5K psf whilst some OCR new already hit $1.6k psf. (correct me if I'm wrong)
But on average OCR now at $1.2kOCR is merely catching up to close the gap. CCR is ready next. It is like when Gold and Silver price gap starts to become narrow, moving forward would the tendency still to buy Silver or over to Gold?
I think HDB flat around that area all huat ah.
they already huat huat liao.
Thank you.
So u huat lah!
Bro, I never HUAT... I scared.. :scared-1: :scared-1: :scared-5:
A few people tell me at waterview thread that if many condo come up, many land sales, the rental will drop.... No body will rent from you, etc, etc....
Now I shaking in my pants... Wah Piang, got echelon, prince charles, metropolitan, Alexandra view, alessandrea, tanglin regency, tangglin view, some more gls at Alexandra, Alexis, queens... Wah lau... My rental will surely depress man!!!!
But hor, when metro top, my rental went up, when Alexis top, my rental went up... So now I super puzzled?????
Can u tell me if they rite or not???:confused: :confused: :confused:
Hahahahahaha - I just TCSS hor... My morning perk me up exercise...
Cheers:cheers4: :cheers5: :cheers3: :cheers2:
they already huat huat liao.
Bro, use hdb as a gauge of condo.... Hdb tends to move first, especially in prime locations...
So if queens town hdb can sell 1 mil, u know how much the condo price will be Liao...
:D
Bro, use hdb as a gauge of condo.... Hdb tends to move first, especially in prime locations...
So if queens town hdb can sell 1 mil, u know how much the condo price will be Liao...
:D
Oh yah. Naturally. Their prices are always relative to each other. Hdb prime huat = hdb suburbia also up up, then all your condos around those hdb in suburbia also up up. There's the trickle down effect.
It is back to basic : Demand vs Supply. In City Fringe where most HDB flats are for own stay, there is no high supply of rental flats and still high demand which leads to rental demand. OCR will be different as most of them upgrade to condos around the same area like punggol.
Bro, I never HUAT... I scared.. :scared-1: :scared-1: :scared-5:
A few people tell me at waterview thread that if many condo come up, many land sales, the rental will drop.... No body will rent from you, etc, etc....
Now I shaking in my pants... Wah Piang, got echelon, prince charles, metropolitan, Alexandra view, alessandrea, tanglin regency, tangglin view, some more gls at Alexandra, Alexis, queens... Wah lau... My rental will surely depress man!!!!
But hor, when metro top, my rental went up, when Alexis top, my rental went up... So now I super puzzled?????
Can u tell me if they rite or not???:confused: :confused: :confused:
Hahahahahaha - I just TCSS hor... My morning perk me up exercise...
Cheers:cheers4: :cheers5: :cheers3: :cheers2:
phantom_opera
12-12-12, 08:06
It is the capital appreciation potential that matter most, rental can cover loan only
Bro, I never HUAT... I scared.. :scared-1: :scared-1: :scared-5:
A few people tell me at waterview thread that if many condo come up, many land sales, the rental will drop.... No body will rent from you, etc, etc....
Now I shaking in my pants... Wah Piang, got echelon, prince charles, metropolitan, Alexandra view, alessandrea, tanglin regency, tangglin view, some more gls at Alexandra, Alexis, queens... Wah lau... My rental will surely depress man!!!!
But hor, when metro top, my rental went up, when Alexis top, my rental went up... So now I super puzzled?????
Can u tell me if they rite or not???:confused: :confused: :confused:
Hahahahahaha - I just TCSS hor... My morning perk me up exercise...
Cheers:cheers4: :cheers5: :cheers3: :cheers2:
Bec we are in the Golden Period of Property Boom. Every Bear in the woods turns out to be a Dragon in disguise, so common logic won't apply!:cheers4:
It is the capital appreciation potential that matter most, rental can cover loan only
Bro, depends on how you look at things. Today again I good mood...
Someone who bought with little reserves depend on rental to cover the mortgage.... If rental drops, he will have less savings or even worst, dip into his kitty to fund the project. If rental is higher than mortgage, he can save his "little" rental and make it into savings along with his savings from work...
After 4 years, this kitty can grow...
Rental do affect capital gains.... Investors (not all but majority) will look at the rental yield to determine if investing in properties are better than leaving it in the bank or in other instruments... So if rental drops to 2%, it means there is a over supply (supply more than demand) - this is a clear case... In this case, we will see a dip. Both rental and capital gains are in a "way" co related.
The increase in the number of condos in a particular spot do affect the property gain but some elements do change the landscape. Take for example, Hillview - 2 things caused the dramatic growth in pricing.
1. future MRT, 2. The effectiveness of FEO to price it higher (forward pricing) thus causing the catalyst for the explosion in pricing... If FEO had priced Hillier at say 800 psf, Hillview area will get stuck at that pricing... So Hillview folks have FEO to thank.
Rental prices will drop if population remains constant and supply of new developments keep coming up...
So a fair bit of research is required to determine the supply and demand equation.
Finally, recession will definitely bring prices down... When is any bodies guess.
Cheers
:cheers6::cheers1:
Haiz...that time metropolitan low floor 2 bedder 5xxk can buy liaoz. :banghead:
How much is echelon selling psf?
no wonder we were told by CDL that indicative pricing will only be released to us (agents) tomorrow onwards...
you step into tanglin regency, you will puke. the mcst there has done an f-all job maintaining what could have been a great estate.
haha is not that bad lah, it is just old design thats all from that era of condo.
but easy to find rental as the place has an established expat community and rep, although pool is small and facilities not great.
Haiz...that time metropolitan low floor 2 bedder 5xxk can buy liaoz. :banghead:
http://www.youtube.com/watch?v=r8OipmKFDeM
Finally I know why my agent told me A Sky good good potential.
I was laughing in my mind when he sms me A Sky looks promising for capital appreciation.:banghead: :banghead:
http://www.straitstimes.com/premium/money/story/3327m-top-bid-alexandra-view-site-20121212
$332.7m top bid for Alexandra View site
Offer at high end of range but level of interest not as strong as expected
Published on Dec 12, 2012
By Melissa Tan
A CHOICE residential site at popular Alexandra View has drawn a top bid of $332.7 million in a six-cornered contest.
The top bid from Singland Homes was at the high end of market expectations but the overall level of interest was not quite as strong as some had anticipated.
Singland Homes' bid works out to about $970 psf per plot ratio (ppr) for the 0.65 ha land parcel, which is 99-year leasehold.
The tender closed yesterday.
It was 10.9 per cent more than the second highest bid of nearly $300.1 million or about $875 psf ppr, which was a joint bid from Far East Orchard and Frasers Centrepoint's FCL Topaz.
Singland Homes' bid came in just above the upper end of the $820 to $960 psf ppr range predicted by most analysts when the site was triggered for release from the Government's reserve list in October.
It was only marginally higher than the top bid of $960 psf ppr in September for a site at Prince Charles Crescent near the Chatsworth Park good class bungalow area.
Still, Mr Lee Sze Teck, Dennis Wee Group's senior manager of training, research and consultancy, said yesterday that the top bid for the Alexandra View land plot "can be considered a good price".
He noted that it is closer to the Redhill MRT station than the Prince Charles site is.
The price did not reach the $1,000 psf level predicted by Mr Eugene Lim, ERA Realty Network's key executive officer, in October.
Mr Lim had pointed to the fact that the Alexandra View site was superior to the Prince Charles site as it was nearer the MRT.
He had also noted that the Alexandra site had a higher plot ratio than the Prince Charles site, which meant its developer could build a high-rise development with units enjoying unblocked views of its surroundings.
The number of bids for the site was also at the lower end of the scale.
Analysts had earlier expected six to 15 bids.
With a gross floor area of around 342,900 sq ft, the plot is expected to yield some 375 units.
Mr Lee said the break-even price could be between $1,400 and $1,450 psf and the selling price could range from $1,600 to $1,650 psf.
Units at the nearby Ascentia Sky, a 45-storey condominium, are selling at above $1,600 psf in the sub-sale market.
SLP International research head Nicholas Mak yesterday said a launch price above $1,550 psf would set a new record for this area.
The results of yesterday's tender could also lead to one to two more development sites in the Redhill area being offered in the upcoming Government Land Sales programme, Mr Mak said.
The other four bids for the site were more cautious, ranging from $282.2 million by Chip Eng Seng's CEL Property to $268 million by Mezzo Development.
Land parcels in the Alexandra area have been in demand recently.
Apart from the Prince Charles site, another at Alexandra Road was sold last December to a consortium made up of City Developments (CDL) unit Sunmaster Holdings, Hong Leong Group's Intrepid Investments and Hong Realty's Garden Estates.
The CDL consortium won the Alexandra Road site, next to Ascentia Sky, with a top bid of $754 psf ppr.
It is developing the Echelon, a 43-storey condo with 508 units, on this site.
It is expected to be launched later this year or early next year.
The consortium was among the six bidders for the Alexandra View land parcel yesterday, with an offer of $271 million or $790 psf ppr.
[email protected]
http://www.businesstimes.com.sg/premium/singapore/alexandra-view-site-draws-top-bid-3327m-20121212
Published December 12, 2012
Alexandra View site draws top bid of $332.7m
By Mindy Tan
A CLOSELY watched tender for a residential site at Alexandra View drew a top bid of $332.7 million, or $970.18 per square foot per plot ratio (psf ppr), yesterday.
Singland Homes, which put up the top bid for the 99-year leasehold site, Alexandra View (Parcel B), beat five other bidders.
Singapore Land has in the nearby vicinity a low-rise condo with about 109 units on a plot that it clinched at a state tender in February.
The project, which has a Jervois Road address, is expected to be launched in late January.
"(For the Jervois Road site) we are looking at about $2,000 psf," said Michael Ng, group general manager of Singapore Land and its parent, UIC.
Assuming it is awarded the site, the developer plans to erect a 43-storey residential tower.
The break-even cost will be about $1,500 psf, which translates to a selling price of about $1,700 psf, said Mr Ng.
"(The project will be) geared towards younger executive couples looking to buy for owner-occupation, or investors looking to rent the units out to expatriates working in the central business district or Orchard Road vicinity."
The majority of the units will feature two bedrooms or two-plus-one and will be in the range of 800-1,000 square feet.
Lee Sze Teck, senior manager for training, research and consultancy at Dennis Wee Group, said: "The top bid of $970 psf ppr is one per cent higher than the Prince Charles Crescent bid of $960 psf ppr in September 2012.
"This can be considered a good price considering the fact that the Alexandra View site is closer to the Redhill MRT station. The other attributes of the location include proximity to town."
Joining the fray to protect its unlaunched project was a consortium comprising City Developments' unit Sunmaster Holdings, Hong Leong Group's Intrepid Investments and Hong Realty's Garden Estates, which put up a bid of $271 million, or $790.30 psf ppr.
The consortium's Echelon is a 43-storey condo with 508 units, and is located next to the subject site.
The second highest bid, which was put up by Far East Orchard and FCL Topaz, came in at $300.1 million, or $875.1 psf ppr.
The lowest offer for the land parcel was $268 million, or $781.56 psf ppr, which came from Mezzo Development.
Said Alan Cheong, head of research and consultancy at Savills Singapore: "When everything is up and running, the Alexandra area could be the new luxury prime district . . . This may be the first outside the traditional prime districts to hit past $2,000 psf, probably by the end of next year."
Nicholas Mak, executive director, research and consultancy, SLP International, said: "There is a 10.9 per cent gap between the top bid and the second bid. Following the high land prices set in the sale of the residential sites at Alexandra Road in December 2011 and Prince Charles Crescent this September, Singland probably believed that in order to win the tender, it must bid above the previous tender price of $960 psf ppr for the Prince Charles Crescent site. But the other five bidders are more cautious."
"The results of today's tender could also lead the government to offer one or two more development sites in the Redhill area in the upcoming GLS (Government Land Sales) programme," he added.
OMG! Redhill area to hit $2,000 psf next year.
Singland is 80% owned by UIC, which itself is 43% owned by UOL.... Mr Wee and Co. seem to be very bullish in his recent bids.
phantom_opera
12-12-12, 14:53
Singland is 80% owned by UIC, which itself is 43% owned by UOL.... Mr Wee and Co. seem to be very bullish in his recent bids.
they always just outbid FEO :p
rearranged the data for easier comparison.
cannot find tanglin regency and view... too old anyway to make any difference.
Projects ----------------------- Bidded -------------- Price psf ppr
The Metropolitan ------------- 2005 Nov ------------ 350
Ascentia Sky ----------------- 2007 Dec ------------ 639
Echelon ----------------------- 2011 Dec ------------ 754.4
Mon Jervois ------------------- 2012 Feb ------------ 880.7
Prince Charles Crescent ------ 2012 Sep ------------ 960.3
Alexandra View --------------- 2012 Dec ------------ 970.2
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