Sky Habitat Relaunch draws crowds

[rook]

Cooling measures here to stay for a long time?
______________________________________________

Sky Habitat relaunch draws crowds with lower prices
ATTRACTIVE pricing and a revamped showflat drew a crowd of buyers at the Sky Habitat project in Bishan over the weekend.
The Straits Times - April 21, 2014
By: Melissa Tan
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Sky Habitat relaunch draws crowds with lower prices The crowd at the relaunch of Sky Habitat last Saturday, when 80 units were sold. Developer CapitaLand rolled out a revamped showflat and slashed prices by about 10 per cent to 15 per cent at the relaunch of the 509-unit condo in Bishan. -- PHOTO: CAPITALA

ATTRACTIVE pricing and a revamped showflat drew a crowd of buyers at the Sky Habitat project in Bishan over the weekend.

Developer CapitaLand sold 80 units last Saturday as the Bishan Street 15 project - once known as the most expensive suburban condominium in Singapore - was relaunched with prices slashed by an estimated 10 per cent to 15 per cent.

This brings the total number of homes sold at the 509-unit condo so far to 262.

Sales figures for yesterday were not available.

The strong response at the relaunch showed that buyers were still very price-sensitive, analysts said yesterday.

Prices at Sky Habitat's relaunch ranged from $1,276 per sq ft (psf) to $1,590 psf, CapitaLand said.

This is about 10 per cent to 15 per cent lower than the price range of $1,435 psf to $1,893 psf at the project's launch two years ago.

CapitaLand said that absolute prices ranged from $984,000 for a one-bedroom plus study unit and up to $2.18 million for a three-bedder.

Its spokesman noted in a statement yesterday that since Sky Habitat's initial launch in April 2012, several additional cooling measures have been introduced.

"Developers have to make necessary adjustments in view of the prevailing market conditions... It would not be meaningful to compare prices of units bought at different points in time," she said.

The most popular units last Saturday were the three-bedders, the spokesman said, adding that about 200 cheques were collected for balloting.

Buyers at the showflat yesterday told The Straits Times that the project appealed to them because of its location near Bishan MRT station and its design by star architect Moshe Safdie.

The discounted prices helped to seal the deal, they added.

"The pricing is attractive and the design is iconic," said Madam Lilian Teo, 40, who works in the energy industry. She bought a 1,249 sq ft three-bedder for around $1.63 million or $1,304 psf.

Another buyer, Mr Lau Yuk Mun, 54, said he picked up a one-bedroom plus study unit as an investment after seeing the redesigned showflat for the 710 sq ft apartment.

"The showflat optimised the usage of space and showed that it could be well utilised... The price is also more attractive now," he said.

He paid $1,411 psf or slightly more than $1 million for the unit, and said he hopes to reap a rental yield of 4 per cent to 6 per cent.

Mr Mohamed Ismail, chief executive of real estate agency PropNex, said the solid sales show that buyers and investors are "not ready to buy if the price is not right".

CapitaLand has pared prices at other projects before.

It slashed prices at the 1,040-unit The Interlace early last year, bringing the total discount to as much as 20 per cent. Before that, it also cut prices at the 1,715-unit D'Leedon by up to 15 per cent.

Sky Habitat's next-door neighbour Sky Vue, also developed by CapitaLand, launched in September last year.

It moved nine units last month at a median price of $1,532 psf and sold 494 out of its 694 units by the end of last month, according to Urban Redevelopment Authority data.

[yowetan]

One serious and sincere question - will the earlier buyer(s) be compensated for the price shift/change?

[dudick]

One serious and sincere question - will the earlier buyer(s) be compensated for the price shift/change?

Why should there be compensation? Same question to buyer, if can, will they still sell at the price they bought or go for a higher price?

[yowetan]

Why should there be compensation? Same question to buyer, if can, will they still sell at the price they bought or go for a higher price?

If this is the case, the initial buyers or the early bird(s) are feeling very sore and sour now. I feel for them.

[Photogguy]

If this is the case, the initial buyers or the early bird(s) are feeling very sore and sour now. I feel for them.

I feel for your Mt Sinai too, poor thing.

[bargain hunter]

whether mass market or prime, discounts are common:


Nathan Suites:

#17-02
10 MAY 10
2,045 SQFT
$2,017 PSF
$4,125,000

#16-02
3 MAR 14
2,034 SQFT
$1,868 PSF
$3,800,000

#15-02
3 MAY 10
2,024 SQFT
$1,984 PSF
$4,014,000

what would have been sold for 4.07m in may 2010 was sold at 3.8m in mar 2014. (all are developer sales)

[yowetan]

I feel for your Mt Sinai too, poor thing.

It is for my own stay; we as a family are very happy and contented.

We have carpark pouch which could accomodates two vehicles. A grass patch big enough to house a minature playground for my two boys and my shetland.

We have 2 stories floor and we could house all my family members under one roof harmoniously which is priceless.

I have no regrets, and we are very happy home stayers.

[orange]

If this is the case, the initial buyers or the early bird(s) are feeling very sore and sour now. I feel for them.

I heard you forced your in-laws to sell their HDB and squeeze with your family in a tiny Mount Sinai apartment, bought at the peak pricing of the market? Die-die cannot afford but die-die want to buy?

Good luck my friend. Stay away from reservoirs and tall buildings, you hear? Your family needs you now more than ever. If you die, they cannot service your loan, wife and daughter may have to sell on the street.

[yowetan]

I heard you forced your in-laws to sell their HDB and squeeze with your family in a tiny Mount Sinai apartment, bought at the peak pricing of the market? Die-die cannot afford but die-die want to buy?

Good luck my friend. Stay away from reservoirs and talk buildings, you hear? Your family needs you now more than ever.

Hi...Let me kindly correct your hearsay rumors:

1. I did not force my family members, I seek consensus and discuss ambicably to ensure our family reaches to common consensus and agreement to get a 2 bedder Mt Sinai unit.

2. The 2 bedder was priced at 1.7+mil SGD then and we managed to upgrade to Mt Sinai landed, after disposing all our existing on-hand HDBs unit.

3. Currently, we lived in Mt Sinai landed and we are very contented with the living quality though the terrace is pretty old. Nonetheless, it is still landed in priced land.

4. My wife, myself and two boys are insured. The rest are not, hence is not a concern.

With the above, I always ensure we buy things prudently to make sure our budget is within limits and range.

[Simi]

It is for my own stay; we as a family are very happy and contented.

We have carpark pouch which could accomodates two vehicles. A grass patch big enough to house a minature playground for my two boys and my shetland.

We have 2 stories floor and we could house all my family members under one roof harmoniously which is priceless.

I have no regrets, and we are very happy home stayers.


Wow congratulations

all the while thought you had bought an apartment

so you have bought your Landed Dream House in Mt Sinai

[wt_know]

will capitaland slash further since there is still a whopping 48% unsold



This brings the total number of homes sold at the 509-unit condo so far to 262.

[yowetan]

Wow congratulations

all the while thought you had bought an apartment

so you have bought your Landed Dream House in Mt Sinai

Hi...Thanks.

It was a tight call then, but I made the decision.

The price is still resillent thanks to Fed decision to extend low interest rate for time being.

Currently, I am really exploring to get a MM unit for investment purpose. This is why I am eyeing Sorrento's.

[rook]

will capitaland slash further since there is still a whopping 48% unsold

That was the numbers as of Saturday...at $1400 psf, they may sell a decent number off, given its prime location in Bishan.

[4wheels]

If this is the case, the initial buyers or the early bird(s) are feeling very sore and sour now. I feel for them.

willing buyer willing seller.

Nothing to complain about.

What if the price goes up? Can the seller (in this case, developer) request for more $$$ from the buyer?

[Adva181]

Hi...Let me kindly correct your hearsay rumors:

1. I did not force my family members, I seek consensus and discuss ambicably to ensure our family reaches to common consensus and agreement to get a 2 bedder Mt Sinai unit.

2. The 2 bedder was priced at 1.7+mil SGD then and we managed to upgrade to Mt Sinai landed, after disposing all our existing on-hand HDBs unit.

3. Currently, we lived in Mt Sinai landed and we are very contented with the living quality though the terrace is pretty old. Nonetheless, it is still landed in priced land.

4. My wife, myself and two boys are insured. The rest are not, hence is not a concern.

With the above, I always ensure we buy things prudently to make sure our budget is within limits and range.

Can you explain how do you cough up enough after paying absd n go pass TDSR at your current level?

[Photogguy]

Can you explain how do you cough up enough after paying absd n go pass TDSR at your current level?

Haha gonna be an interesting tale, full of holes.

[reporter2]

http://www.straitstimes.com/archive/monday/premium/top-the-news/story/sky-habitat-relaunch-draws-crowds-lower-prices-20140421

Sky Habitat relaunch draws crowds with lower prices

Published on Apr 21, 2014 1:00 AM

By Melissa Tan


ATTRACTIVE pricing and a revamped showflat drew a crowd of buyers at the Sky Habitat project in Bishan over the weekend.

Developer CapitaLand sold 80 units last Saturday as the Bishan Street 15 project - once known as the most expensive suburban condominium in Singapore - was relaunched with prices slashed by an estimated 10 per cent to 15 per cent.

This brings the total number of homes sold at the 509-unit condo so far to 262.

Sales figures for yesterday were not available.

The strong response at the relaunch showed that buyers were still very price-sensitive, analysts said yesterday.

Prices at Sky Habitat's relaunch ranged from $1,276 per sq ft (psf) to $1,590 psf, CapitaLand said.

This is about 10 per cent to 15 per cent lower than the price range of $1,435 psf to $1,893 psf at the project's launch two years ago.

CapitaLand said that absolute prices ranged from $984,000 for a one-bedroom plus study unit and up to $2.18 million for a three-bedder.

Its spokesman noted in a statement yesterday that since Sky Habitat's initial launch in April 2012, several additional cooling measures have been introduced.

"Developers have to make necessary adjustments in view of the prevailing market conditions... It would not be meaningful to compare prices of units bought at different points in time," she said.

The most popular units last Saturday were the three-bedders, the spokesman said, adding that about 200 cheques were collected for balloting.

Buyers at the showflat yesterday told The Straits Times that the project appealed to them because of its location near Bishan MRT station and its design by star architect Moshe Safdie.

The discounted prices helped to seal the deal, they added.

"The pricing is attractive and the design is iconic," said Madam Lilian Teo, 40, who works in the energy industry. She bought a 1,249 sq ft three-bedder for around $1.63 million or $1,304 psf.

Another buyer, Mr Lau Yuk Mun, 54, said he picked up a one-bedroom plus study unit as an investment after seeing the redesigned showflat for the 710 sq ft apartment.

"The showflat optimised the usage of space and showed that it could be well utilised... The price is also more attractive now," he said.

He paid $1,411 psf or slightly more than $1 million for the unit, and said he hopes to reap a rental yield of 4 per cent to 6 per cent.

Mr Mohamed Ismail, chief executive of real estate agency PropNex, said the solid sales show that buyers and investors are "not ready to buy if the price is not right".

CapitaLand has pared prices at other projects before.

It slashed prices at the 1,040-unit The Interlace early last year, bringing the total discount to as much as 20 per cent. Before that, it also cut prices at the 1,715-unit D'Leedon by up to 15 per cent.

Sky Habitat's next-door neighbour Sky Vue, also developed by CapitaLand, launched in September last year.

It moved nine units last month at a median price of $1,532 psf and sold 494 out of its 694 units by the end of last month, according to Urban Redevelopment Authority data.

[email protected]