MM unit drop until 4xxk

[xtreme_46]

central imperial lastest transaction sold for 470k

will other MM prices trend lower?

[Kelonguni]

central imperial lastest transaction sold for 470k

will other MM prices trend lower?

Where to buy?

I checked Propertycarrots lowest recent transaction is 570,000 leh.

And URA indeed recorded this one transaction for 420 sf unit.

Good deal indeed. Anyone selling?

[xtreme_46]

Where to buy?

I checked Propertycarrots lowest recent transaction is 570,000 leh.

And URA indeed recorded this one transaction for 420 sf unit.

Good deal indeed. Anyone selling?

got one currently listed at 499k...you try lowballing until 470k and below maybe they will bite

[Kelonguni]

got one currently listed at 499k...you try lowballing until 470k and below maybe they will bite

Steady. Rental should easily cover. Just maybe a bit harder to consider to retire at this location.

Even add ABSD will be just above 500K. Wow...

But I stared at the floor map is a 2 bedder shown. This one really got to call to ask.

[Tomutomi]

Isnt it so easy to see the latest transaction at ura or even propguru and 99 provided the recent transaction info. Still surprise seeing people doubting the obvious.

[Kelonguni]

Isnt it so easy to see the latest transaction at ura or even propguru and 99 provided the recent transaction info. Still surprise seeing people doubting the obvious.

This is a very recent transaction and the details have not been recorded yet. It is normal to doubt it and study the details more carefully to diagnose the nature of the one-off case.

39sqm units have not been found for this type of units for the last 5 years. It is optimised for rent based on its size and configuration (2-bedders). It is FH and RCR, which means the rent easily covers the mortgage. So for the owner to let go, it could be due to some other reasons such as avoiding ABSD for a larger purchase. Or some encounters with the law due to crackdown on vice. Propguru prices have always been misleading, the advertised unit could have been the sold unit but the ad might not have been removed for a period more, especially since the transaction is so recent. So a call is necessary to ascertain whether such prices are made available on a larger scale.

Nonetheless, it may be useful to note that this may not be a loss-making transaction given that such units were bought at 450K in 2011. It was designed almost totally for rent based on configuration and size and location, so someone who needed to sell in the fastest time will have to make the price more enticing.

But to infer that one such sales will cause all sales prices to drop, that is quite far-fetched. Geylang has always had this characteristics of "being easy to defend, but very hard to attack", especially in the even lorongs.

[Kelonguni]

Some more with the 2016 rental caveats for this development never falling below $1,800 and mortgage just around $1300 for 80% loan, there must be some other compelling reasons for this drastic move at this particular price. In fact, several managed caveats for this size managed $2,000.

SRX data shows the historical X-value for this type of unit is from 450K to 500K. So I guess 470K is within range if needed to sell.

It's just a pity as the yields will be amongst the highest locally, but some strong reason surely exists.

[jwong71]

Try asking for loan first.

60-70% thereabout singapura finance and maybank, as geylang risk exposure to banks considered high

[dogeatdog]

900psf also I won't buy geylang

[strawberrysis]

it's great for renting out, but piss poor if you are banking on the price to go up much. If you look at the floor plans, you know what kind of crowds you would expect.
Tenants, most certainly not expats or students either.

[Kelonguni]

it's great for renting out, but piss poor if you are banking on the price to go up much. If you look at the floor plans, you know what kind of crowds you would expect.
Tenants, most certainly not expats or students either.

Exactly the point.

Interesting proposal for yields though.

But for own stay, I noted that the washing machine is below the hob... Can imagine the washing powder smell concurrent with cooking smell...

The transaction gives us some insights and reminders though - always be very sure one's intention and goals in buying... For myself, I always make sure it is some place I could enjoy living in at some point in life.

[propertycarrots]

Caveats for PCT has just been updated today, you can check out the database for the unit number for this $470k unit :)

[Arcachon]

Like

[Kelonguni]

Caveats for PCT has just been updated today, you can check out the database for the unit number for this $470k unit :)

Thanks! You are the best!

[Ilikeu]

History Count 2
Address: 3,LORONG 14 GEYLANG,#04-06
ContractDate Amount UnitPrice AreaSqm PSF Sale Type Tenure
17-Nov-2016 $470,000 12051 39 1120 Resale Freehold
19-Dec-2011 $453,600 11631 39 1081 New Sale Freehold

[Tomutomi]

Wing Fong Mansions, LORONG 14 GEYLANG, size 700 sqft (not MM but).
Opening price 700K, sold price 400K :)

[Arcachon]

serious, cannot find .

[xtreme_46]

Central imperial price more or less fixed already...resale price $4xxk already for this MM

Another transaction in Jan 17...$475k

CENTRAL IMPERIAL LORONG 14 GEYLANG Apartment 14 RCR Freehold Resale 1 475,000 - 420 Strata 06 to 10 1,132 Jan-17