65yrs of LH sold for $2.4m profit.

[star]

Who the bugger always say freehold and CCR? Look at those CCR freehold making miserable profit and huge losses now. Always buy what the cheapest and the masses can afford. So u can sell off easily and make good profit.

http://www.theedgeproperty.com.sg/content/bedok-penthouse-fetches-24-mil-profit

[bargain hunter]

a unit at ardmore park bought in the same period in 1999 would have cost: ARDMORE PARK 11 Ardmore Park #07-04 2885sq ft $3330000 1154psf most recent price = 2016 low = 2773psf or $8m.

bedok court psf gain 557 vs 205 = 172% gain.
ardmore park % gain 140% over the same 17 years.

but quantum wise the gain would be 4.7m.

[Arcachon]

http://propertycarrots.com/community/contactimporter/ref/73

1 BEDOK COURT 295 Bedok South Avenue 3 #19-04 645 3868000 557 15-Aug-16
214 BEDOK COURT 295 Bedok South Avenue 3 #19-04 645 1420000 205 15-Sep-99

[teddybear]

Very interesting........
Think about it, if that penthouse in Bedok Court is a freehold (instead of with 65 years remaining lease), won't it be worth $800 psf now?
So, $800 psf to $557 psf, that is ONLY 69% of full value, which is inline with its remaining lease of about 65 years right?!
The person probably is kicking himself in the butt for buying the wrong property, otherwise he would have made about $4.13M (instead of $2.4M because of reducing lease)! :dejection:


Who the bugger always say freehold and CCR? Look at those CCR freehold making miserable profit and huge losses now. Always buy what the cheapest and the masses can afford. So u can sell off easily and make good profit.

http://www.theedgeproperty.com.sg/content/bedok-penthouse-fetches-24-mil-profit

[Ilikeu]

Why kick himself for making a higher 172% gain for bedok court vs the other owner who made "only" 140% for ardmore park as the example....
maybe he can only afford the quantum of bedok court at that time only.



Very interesting........
Think about it, if that penthouse in Bedok Court is a freehold (instead of with 65 years remaining lease), won't it be worth $800 psf now?
So, $800 psf to $557 psf, that is ONLY 69% of full value, which is inline with its remaining lease of about 65 years right?!
The person probably is kicking himself in the butt for buying the wrong property, otherwise he would have made about $4.13M (instead of $2.4M because of reducing lease)! :dejection:


a unit at ardmore park bought in the same period in 1999 would have cost: ARDMORE PARK 11 Ardmore Park #07-04 2885sq ft $3330000 1154psf most recent price = 2016 low = 2773psf or $8m.

bedok court psf gain 557 vs 205 = 172% gain.
ardmore park % gain 140% over the same 17 years.

but quantum wise the gain would be 4.7m.

[bargain hunter]

Why kick himself for making a higher 172% gain for bedok court vs the other owner who made "only" 140% for ardmore park as the example....
maybe he can only afford the quantum of bedok court at that time only.

i was just giving an example and never intended to compare 172% or 140% becoz they are just 2 examples in a sea of transactions. the return is "only" 140% precisely becoz of the quantum!

there are easily other examples in CCR for example yong an park of similar quantum and timing:

YONG AN PARK 329 River Valley Road #06-03 319sq m $1500000 437psf 13-MAR-1998
YONG AN PARK 327 River Valley Road #05-03 319sq m $1700000 495psf 25-JAN-1999

the most recent transaction in 2015, albeit on a higher floor is:

YONG AN PARK 327 River Valley Road #20-03 319sq m $6500000 1893psf 03-NOV-2015
there are too few transactions in yong an park post 2013 but a more comparable lower floor was indeed transacted in 2013 at:
YONG AN PARK 327 River Valley Road #08-03 319sq m $6380000 1858psf 22-AUG-2013
using raw data the % return is: 275% using the lower psf in 2013 over the higher psf unit at 495psf in 2009 and profit is $4.68m.

the return would be worse than bedok court's 172% if it was sold at below $4.624m or $1,347psf.

[teddybear]

Why are you comparing OCR to CCR?
You don't have to, anyway, even if you want to compare, bargain hunter already provided you that CCR Yong Ann Park's return ($437 psf to $1858 psf or 325% return) is higher than OCR Bedok Court of $205 psf to $557 psf or 172% return (if you just want to take 1 and compare, but this is not meaningful).

Instead, you should be comparing OCR to OCR, and it is obvious that Bedok Court was sold at that lowly $557 psf NOW (when OCR private property prices are their historical HIGH) was because it only has 65 years lease left!
You just need to compare to other FH condo nearby and you would know that they can command easily more than $1000 psf! Even if you adjust for the big size, it should easily command >$800 psf but instead it could only sell at that lowly $557 psf (if not for the lease running down to ZERO), a figure much closer to HDB flat $psf price!

As to the quantum, he could have bought a smaller unit than 6xxx sqft at the same absolute quantum and still profited much more in % terms! :dog:


Why kick himself for making a higher 172% gain for bedok court vs the other owner who made "only" 140% for ardmore park as the example....
maybe he can only afford the quantum of bedok court at that time only.


Very interesting........
Think about it, if that penthouse in Bedok Court is a freehold (instead of with 65 years remaining lease), won't it be worth $800 psf now?
So, $800 psf to $557 psf, that is ONLY 69% of full value, which is inline with its remaining lease of about 65 years right?!
The person probably is kicking himself in the butt for buying the wrong property, otherwise he would have made about $4.13M (instead of $2.4M because of reducing lease)! :dejection:

[Ilikeu]

Same old debate of FH vs LH.....
You need to adjust the purchase price too, and not only adjust the selling price. $4.13mm profit based on your assumption is thus skewed.




Very interesting........
Think about it, if that penthouse in Bedok Court is a freehold (instead of with 65 years remaining lease), won't it be worth $800 psf now?
So, $800 psf to $557 psf, that is ONLY 69% of full value, which is inline with its remaining lease of about 65 years right?!
The person probably is kicking himself in the butt for buying the wrong property, otherwise he would have made about $4.13M (instead of $2.4M because of reducing lease)! :dejection:


Why are you comparing OCR to CCR?
You don't have to, anyway, even if you want to compare, bargain hunter already provided you that CCR Yong Ann Park's return ($437 psf to $1858 psf or 325% return) is higher than OCR Bedok Court of $205 psf to $557 psf or 172% return (if you just want to take 1 and compare, but this is not meaningful).

Instead, you should be comparing OCR to OCR, and it is obvious that Bedok Court was sold at that lowly $557 psf NOW (when OCR private property prices are their historical HIGH) was because it only has 65 years lease left!
You just need to compare to other FH condo nearby and you would know that they can command easily more than $1000 psf! Even if you adjust for the big size, it should easily command >$800 psf but instead it could only sell at that lowly $557 psf (if not for the lease running down to ZERO), a figure much closer to HDB flat $psf price!

As to the quantum, he could have bought a smaller unit than 6xxx sqft at the same absolute quantum and still profited much more in % terms! :dog:

[teddybear]

FH price is usually about 15-20% more than LH (when both are relatively new), so let you adjust the original purchase price of $205 psf LH to $246 (+20%) for FH, and if you sell at $800 psf, you still get 225% return, vs the LH selling price of $557 psf or 172% return. :dog:
It is lucky that this guy is able to sell now, if he wait for another 64 years his property will have a value almost ZERO! :scared-2:


Same old debate of FH vs LH.....
You need to adjust the purchase price too, and not only adjust the selling price. $4.13mm profit based on your assumption is thus skewed.