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ggd
21-06-08, 00:08
Any comment on this development. Heard that launch price will be <$1000, 99yrs, but very near MRT

Lucas
21-06-08, 09:41
Any comment on this development. Heard that launch price will be <$1000, 99yrs, but very near MRT



I heard from the news but not familiar with the East side... where is Dakota Cresent?

Unregistered99
22-06-08, 06:58
went to view it yesterday. prices are about 980psf. near the future dakota MRT.

99 years, but u will be paying for the location.

1 thing that i do not like is the vast amt of space allocated to balconies.

Darius
22-06-08, 07:26
I think Dakota Residence has potential. The proximity to CBD plus MRT are the biggest selling points. May just consider.......



New URA Masterplan: Kallang, Paya Lebar The New Stars (http://propertyhighlights.blogspot.com/2008/05/kallang-paya-lebar-new-stars.html)

Source : The Straits Times, May 24, 2008

Over 10 years they will become lifestyle and commercial hubs

GOOD news, Kallang and Paya Lebar: It is your turn to shine.
The two sleepy industrial estates have been identified as Singapore's next big urban hotspots, as the nation's land planners draw up blueprints for the next 15 years.

Now colourless and underdeveloped, these towns will burst into full bloom over the next decade. Paya Lebar will be transformed into a thriving commercial and civic centre, while Kallang will become a residential and lifestyle hub with homes and offices set among green parks and sandy beaches.

http://bp1.blogger.com/_YlvEjlIelzk/SDzNgLfj-sI/AAAAAAAALxg/fy3cNpqgiCk/s400/1.jpg (http://bp1.blogger.com/_YlvEjlIelzk/SDzNgLfj-sI/AAAAAAAALxg/fy3cNpqgiCk/s1600-h/1.jpg)'To make Singapore an endearing home, the Draft Master Plan will seek to retain places of identity and heritage.' (Above) an artist's impression of the beaches at Kallang Riverside. -- PHOTOS: URA

They are the stars of the Urban Redevelopment Authority's (URA) highly anticipated Draft Master Plan, which was released by National Development Minister Mah Bow Tan yesterday.

The Master Plan, which guides Singapore's land use over the next 10 to 15 years, is revised every five years to provide more housing and leisure options and ensure that sufficient space is set aside to support a growing population.

The plan also continues a sustained effort to decentralise and reduce congestion in the Central Business District by building offices all across the island, bringing jobs closer to homes.

Some of the plan's highlights, such as the new Jurong Lake District and the new MRT lines, have already been revealed.

Other plans were more fully fleshed out yesterday, such as the expansion of the city's commercial centre, which will double in size to include Marina Bay and Tanjong Pagar, as well as the Beach Road/Ophir-Rochor corridor.

The Government also announced that it has earmarked enough land for 328,200 new homes around the island. More than a third will be in the central region bordered by Bishan, Sentosa, Marine Parade and Queenstown.

'We have seen significant transformation of our city over the past 10 years,' said Mr Mah yesterday.

'The next 10 years can be just as exciting, if not more. Despite the current economic uncertainties, I am optimistic that we can grow from strength to strength.'

Property players were impressed by the new Master Plan, saying it proves Singapore can remain a sustainable global city and a promising investment destination.

Equally importantly, there is 'a piece of action for every developer, no matter what kind of homes or offices or hotels they build', said Mr Simon Cheong, chief of developer SC Global and president of the Real Estate Developers' Association of Singapore.
Published May 24, 2008

Live, Work, Play at a neighbourhood near you

With Draft Master Plan, ambitious concept is taken further afield to Kallang and Paya Lebar

By ARTHUR SIM


(SINGAPORE) The Urban and Redevelopment Authority's (URA) Live, Work and Play mantra has been so successful in the Downtown Core precinct - as evidenced by the rapid development of offices, condos, hotels and leisure hotspots - that plans are now underway to export the concept to outlying districts in earnest.

The URA has already rolled out ambitious plans to transform Jurong East into a bustling sub-metropolitan hub of parks, offices, hotels, edutainment centres and homes.

Now, with the launch of the Draft Master Plan 2008 yesterday, it has included similar blueprints for Kallang and Paya Lebar as well.

The three new hubs - Jurong Lake District, Kallang Riverside, and Paya Lebar Central - all have one objective in common, and that is to balance the elements of Live, Work and Play.

Speaking at the launch of the Draft Master Plan 2008 exhibition at URA Centre yesterday, Minister for National Development Mah Bow Tan highlighted three key objectives of the latest Master Plan. Of these, it was the need to 'enhance accessibility and reduce commuting by bringing jobs closer to home' that underscores the need for the three new hubs. Not surprisingly then, Mr Mah added that public transportation has been 'prioritised'.

The other two objectives are to 'ensure that we have enough land to support economic opportunity', and to 'provide quality housing and leisure options for our people'.

Currently, the three areas have the potential to be sub-metropolitan hubs as they are, or will be, transportation nodes with the completion of existing and future rail, bus and road networks.

However, looking at each area reveals that at least one of the three important ingredients of Live, Work and Play is missing.

In the current Jurong East, for instance, there lacks a central office zone even though it has a relatively large population catchment area. As such, URA has designated 500,000 square metres of office space, 250,000 sq m of retail and entertainment space, 2,800 hotel rooms, but just 1,000 units of new homes for Jurong Lake District.

Also bringing jobs closer to home is Paya Lebar Central, which is in the centre of another large population catchment area.

Here, URA is planning for 294,000 sq m of office space, 200,000 sq m of hotel and retail space, but no new housing.

Kallang Riverside, which is on the fringe of the city is, however, relatively under-populated and will have space for 4,000 new waterfront homes and 3,000 hotel rooms. Being a much larger area and close to the new Sports Hub, it will also have 300,000 sq m of office space and 300,000 sq m of hotel, retail and entertainment spaces.

So, will it work?

City Developments Ltd (CDL), which helped kick-start Marina Bay with The Sail, had initially planned the project as being half-commercial. Even then, many market watchers thought that only a complete office would work. Going against conventional wisdom of the time, it was eventually designed as two residential towers in 2003.

Looking back, CDL managing director Kwek Leng Joo, says: 'Ultimately, we strongly believed that developing the very first residential development in the vicinity - a truly iconic one for that matter, would be most synergistic and truly reflect the 'Live' component of URA's vision.'

That Marina South remains largely untouched in the Draft Master Plan 2008 suggests that there is more emphasis on decentralisation compared to the previous Master Plan which emphasised the Downtown Core.

Knight Frank managing director Tan Tiong Cheng said: 'With the new Master Plan, there is a drive to develop areas with potential that have not been previously emphasised.

'Marina South will be quite easy to roll out because it sits on vacant state land. And when sites are available, they should sell quite fast.'

URA's decentralisation strategy was first adopted in 1991, with the Concept Plan that maps out the long-term 40-50-year vision.

The Master Plan, which translates the Concept Plan strategies into detailed statutory land use plans to guide development over periods of 10-15 years, is reviewed every five years and may have different priorities.

The Master Plan 2008 also goes some way in addressing the widening gap between high-end and mass market homes.

Jones Lang LaSalle's head of research (South-east Asia), Chua Yang Liang, said: 'The strategy is really a bi-polar one.'

He explained that the Master Plan has to deal with planning issues that involve communities revolving around manufacturing in the north, and wealthier communities who are choosing to move downtown, especially to waterfront homes in the south. And recently, the disparity between high-end waterfront homes at Sentosa Cove and those in the heartlands has widened.

As such, Dr Chua notes that much of the new housing that has been highlighted in the outer regions all face the water.

'This emphasis on providing more waterfront homes would greatly enhance social equity by making such homes more affordable to the regular guy on the street and not limited to just the affluent,' he added.

If water is the new social glue, then the Rail Transit System (RTS) is its life blood.

Industry players are perhaps a little disappointed that not much has been done by way of increasing plot ratios, a move that usually adds zest to the property market.

But Savills Singapore director (marketing and development) Ku Swee Yong notes that property values, and possibly even plot ratios, tend to rise around new MRT stations.

And with the RTS already reported to be doubled from 138 km today to 278 km by 2020, with an addition of over 40 new stations, Mr Ku is hopeful that the next Master Plan review could see more plot ratio goodies. 'I think URA might just be waiting for the new infrastructure to be completed,' he added.

Unregistered123
22-06-08, 13:28
Just back form the Show flat. Check with the agent, the over sales is good; about 90+ units sold already. 18th floor is about $1,080 psf net.

Lily
22-06-08, 17:01
Wow, that is a very good response. The 2nd phase will be riced higher? Does anyone know whether the developer increase its prices from yesterday?

TKT
22-06-08, 17:19
went to view it yesterday. prices are about 980psf. near the future dakota MRT.

99 years, but u will be paying for the location.

1 thing that i do not like is the vast amt of space allocated to balconies.



The point you made about balconies is really bugging me!

I think nowadays developers are making a lot of money from these balconies, planter spaces, bay windows, rooftop terraces, etc... apparently what i heard is that they are not charged some development charges or something by the govt, so its pure profit whatever psf extra in those places, that they sell to us.
Someone correct me if I am wrong because I hear all these from agents, so not quite sure...but the fact is, these days you find bigger and bigger balconies, planters, etc in the newer projects... and smaller and smaller living areas and bedrooms, despite the sft remaining 'big' - but it's actually in all these balconies, planters, bay windows, ledges, etc!

I just wish we could get some MPs to look into this, maybe change the rule - sft should be liveable area and not balconies, planters, bay windows, roof terraces..., bloody rip-off!!!

registered
22-06-08, 19:07
Hi can anyone pls post the floor plans ?

Des
22-06-08, 20:10
I agree, looks a bit underpriced, should be >SGD1,000 psf given the proximity to CBD. Further down the road, at Meyer (ok, a better address), >SGD1,500 psf.

http://www.dakotaresidences.com.sg/

kal
22-06-08, 20:26
limited facilities, don even hv tennis court for this size of development...

UnregisteredMe
22-06-08, 20:39
No tennis court to accommodate the lap pool???! Anyone knows when 2nd phase will be released? Dakota mrt is 1 stop away from paya lebar interchange mrt.... convenient. Not a bad project i feel. sports hub is a retail cum entertainment centre. plus points. pricing, i feel, not too bad.

Moo
22-06-08, 20:42
I was reading the forum, 99-year Silversea is hoping to launch at 1,700psf?? Yes, unblocked seaview, I rather get unblocked river view for SGD950psf and with mrt. trust far east to be so garang.

Unregistered0030
22-06-08, 21:16
The new condos now always shortchange and no tennis court. So wanna play tennis gotta go to the older condos :)

Anyway, take what the agent say with a pinch of salt.Sometimes they say many units sold to get you excited but may not be true. But if people are snapping up the units like hot cakes, then it is good news for the property market. I don't really like the location though. But I notice the "property crash" type of post is on the decline. Looks like many have accepted that the market may not collapse 40-50%, despite many the banks/SPH coming together to present a doomsday view.


limited facilities, don even hv tennis court for this size of development...

Unregistered 101
23-06-08, 00:16
I agree, looks a bit underpriced, should be >SGD1,000 psf given the proximity to CBD. Further down the road, at Meyer (ok, a better address), >SGD1,500 psf.

http://www.dakotaresidences.com.sg/

Was in the show flat this afternoon.. seems all avail 3 bed room are sold!!! :(
need to wait for 2nd phase. dun think they will hold their price base on the strong demand.

mr funny
23-06-08, 10:57
http://www.businesstimes.com.sg/sub/news/story/0,4574,284680,00.html?

Published June 23, 2008

Sales of Dakota Residences encouraging

By KALPANA RASHIWALA


A CLOSELY watched property market preview has yielded encouraging results amidst the current subdued market conditions.

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-06-23/BT_IMAGES_KRDAKOTA23.jpg
Good location: Buyers like the project's proximity to Dakota MRT Station and the popular Old Airport Road Food Centre

Ho Bee Investment and NTUC Choice Homes have sold 80 units at Dakota Residences over the weekend. The developers have so far released 122 units in the 348-unit project at an average price of $970 per square foot - lower than the $1,000 to $1,100 psf Ho Bee had indicated in June 2007 when the developers emerged as the top bidders for the 99-year leasehold site.

No deferred payment is available for the 19-storey condominium project, which will front Geylang River.

Buyers are predominantly Singaporeans, many with private home addresses. 'The majority of them live in the East Coast area, some even in landed homes. We have quite a number of professionals among the buyers,' said Ho Bee executive director Ong Chong Hua.

'It shows that if you price your project right, there are still buyers. There's quite a bit of pent-up demand. Also buyers like the project's proximity to Dakota MRT Station and the popular Old Airport Road Food Centre. The location is also very close to the popular East Coast area,' he added.

The plans for the Sports Hub and and Kallang Riverside area have also helped to stir interest in the project, Mr Ong reckons.

The project comprises a mix of two, three and four-bedroom apartments and penthouses. Both penthouses in the stack of 122 units released so far have been sold - a 3,700 sq ft unit went for $3.37 million and the other, a 2,605 sq ft unit, fetched $2.62 million. A typical three-bedroom apartment of about 1,300 sq ft in the development costs about $1.3 million on average.

Ho Bee and NTUC Choice Homes paid $524 psf per plot ratio at a state tender last year for the Dakota Residences site, which attracted a whopping 15 bids.

Asked if the developers will consider raising Dakota Residences' selling prices, Mr Ong said: 'We'll review it but any price adjustment will be moderate. Sentiment is still fragile. If you're too aggressive in raising prices, you run the risk of stalling the sales momentum.'

Urban Redevelopment Authority data released last week showed developers sold 441 new private homes in May, up from 284 units in April.

Happy Feet
23-06-08, 14:06
http://www.businesstimes.com.sg/sub/news/story/0,4574,284680,00.html?

Published June 23, 2008

Sales of Dakota Residences encouraging

By KALPANA RASHIWALA


A CLOSELY watched property market preview has yielded encouraging results amidst the current subdued market conditions.

....................

Urban Redevelopment Authority data released last week showed developers sold 441 new private homes in May, up from 284 units in April.
Like that, swee liao lor!

Eagle
23-06-08, 20:19
CityLights is > $1000 psf, I would rather buy this.

Dream
23-06-08, 20:20
Like that, swee liao lor!
Why? You have bought a unit already?

Darius
23-06-08, 20:51
Let's see how much second phase will be at.... thinking $1000 - $1100 shd be achievable. Actually, the stuff they use ie the sanitary stuff like very good quality.

Unregistered101
23-06-08, 22:59
Why? You have bought a unit already?

Or he mean he missed it.. HAHA

Unregistered0000
23-06-08, 23:01
Looks like there is real demand when the price is right, i.e. <1000psf in D15. So developers just drop price slightly and sell like hot cakes..... anyway, I heard this one developer not making money, breakeven only. Poor thing.


Let's see how much second phase will be at.... thinking $1000 - $1100 shd be achievable. Actually, the stuff they use ie the sanitary stuff like very good quality.

JR
24-06-08, 01:06
The point you made about balconies is really bugging me!

I think nowadays developers are making a lot of money from these balconies, planter spaces, bay windows, rooftop terraces, etc... apparently what i heard is that they are not charged some development charges or something by the govt, so its pure profit whatever psf extra in those places, that they sell to us.
Someone correct me if I am wrong because I hear all these from agents, so not quite sure...but the fact is, these days you find bigger and bigger balconies, planters, etc in the newer projects... and smaller and smaller living areas and bedrooms, despite the sft remaining 'big' - but it's actually in all these balconies, planters, bay windows, ledges, etc!

I just wish we could get some MPs to look into this, maybe change the rule - sft should be liveable area and not balconies, planters, bay windows, roof terraces..., bloody rip-off!!!

I totally agree, simply a waste of money buying huge balcony, I think in future i might have to ask what is the size of the balcony to factor in the discount required for actual livable space.

No tennis court for a condo like this, what a pity...

Btw, this is a D14 project, same district as Geylang nearby. LH 99yrs, surrounded by HDB, and those units facing the sch will get to enjoy marikita every morning....Not sure what is the potential upside in px appreciation in future...

Unregistered1234556
24-06-08, 10:25
I still can't understand why Singaporeans are so hard up on buying new developments and from showflats. The resale ones are good value as well, many of which truly have full facilities including tennis court, entertainment rooms and lots of underground parking lots. Also, the high construction costs would mean developers might cut corners to make money. Showflat nice doesn't mean the actual thing will be nice.

I think Singaporeans just follow the herd. Now Kallang is supposed to be the next big thing, so people just buy. Not forgetting it face Geylang river and waterfront living is wat garmen want to promote. No one actually cares about the "complicated" and not-so-nice environment. Garmen say this area huat sure huat one. Anyway, most of the buyers are locals staying in the east apparently. Few buyers from other areas or foreigners. Also, near MRT, so non-drivers will be attracted to this as well.


I totally agree, simply a waste of money buying huge balcony, I think in future i might have to ask what is the size of the balcony to factor in the discount required for actual livable space.

No tennis court for a condo like this, what a pity...

Btw, this is a D14 project, same district as Geylang nearby. LH 99yrs, surrounded by HDB, and those units facing the sch will get to enjoy marikita every morning....Not sure what is the potential upside in px appreciation in future...

nregistered
24-06-08, 17:15
Geylang river ?? it looks more like a huge drain than a river !!!

ggd
24-06-08, 17:46
Bras Basah > Esplanade > Promenade > Nicoll HW >
Stadium > Mountbatten > Dakota > Paya Lebar
Dakota is one of the condo that link to the southern
circle line, it can attract working class in Suntec,
also in Shenton way. Convenient yet don't have to
pay the sky high rental price like SAIL, ICON, etc...
ERP/CBD/parking charges will make it very costly to
drive to work, so near MRT line make it very convenient. On top of that you have all the good food at the old airport road to take care of your dinner when you get back from work !

MND
24-06-08, 17:52
Looks like there is real demand when the price is right, i.e. <1000psf in D15. So developers just drop price slightly and sell like hot cakes..... anyway, I heard this one developer not making money, breakeven only. Poor thing.

URA already gave a statement few days ago that Singapore will not have over supply in residential ppty. That's why govt always prepare a reserve list, even during this slowing period, to anticipate an explosive demand once the market sentiment turn around with thousand of pent-up demand (kiasu buyer) on the sideline like you.

The market situation right now is very clear. The demand side is massive but still clouded with negative sentiment, while the supply side is actually the real concern for the govt, because they know that with the skyhigh construction cost it might derail the developer ability to complete the project as scheduled. In fact, many developers hv delayed their launching due to thin margin. So, for them the business risk now is very high to the extent that might force them out from business altogether. Once that happen, a serious severe property crunch will be inevitably. Ask yourself now with this fact and detail, where will our ppty market heading in time to come?

GEORGE SORROS
24-06-08, 17:53
A SEVERE PROPERTY CRUNCH WILL HIT SINGAPORE SOON IF LOCAL PPTY PRICES REMAIN STAGNANT

Republic Two
24-06-08, 18:00
URA already gave a statement few days ago that Singapore will not have over supply in residential ppty. That's why govt always prepare a reserve list, even during this slowing period, to anticipate an explosive demand once the market sentiment turn around with thousand of pent-up demand (kiasu buyer) on the sideline like you.

The market situation right now is very clear. The demand side is massive but still clouded with negative sentiment, while the supply side is actually the real concern for the govt, because they know that with the skyhigh construction cost it might derail the developer ability to complete the project as scheduled. In fact, many developers hv delayed their launching due to thin margin. So, for them the business risk now is very high to the extent that might force them out from business altogether. Once that happen, a serious severe property crunch will be inevitably. Ask yourself now with this fact and detail, where will our ppty market heading in time to come?

The potential demand is 2 mio additional population vs the potential supply of less than 40,000 in 5 years time. Of course, there is a severe imbalance. Once the truth is revealed the whole nation is going to be damn nervous.

MsDakota
24-06-08, 19:18
Bras Basah > Esplanade > Promenade > Nicoll HW >
Stadium > Mountbatten > Dakota > Paya Lebar
Dakota is one of the condo that link to the southern
circle line, it can attract working class in Suntec,
also in Shenton way. Convenient yet don't have to
pay the sky high rental price like SAIL, ICON, etc...
ERP/CBD/parking charges will make it very costly to
drive to work, so near MRT line make it very convenient. On top of that you have all the good food at the old airport road to take care of your dinner when you get back from work !

I totally agree. The best you can get to be near city but without having to pay the price of Icon, another 99 year project near MRT, so what if got balcony or school? Icon got temple. Actually, with hdb amenities, better still. Someone said, mis-priced? I also agree.

Dakota1
24-06-08, 20:30
No offence. I think it's a bit far fetched to compare this Dakota to Icon or the Sail. You know in Singapore, even station 1 MRT away can make huge price difference. It's a 99-yr LH project in D14 - I'm not too convinced with the upside but if you like the environment and HDB surroundings and amenities, then go for it. At the end of the day, it's your home, not just pure investment. Or perhaps can consider the HDB in the area, since both 99 years so not much diff with HDB - if location if what you're after.

As for old airport road market - it's quite a put off becos it's overcrowded. Parking is #1 nightmare. I stay at Meyer and I don't even go there.


I totally agree. The best you can get to be near city but without having to pay the price of Icon, another 99 year project near MRT, so what if got balcony or school? Icon got temple. Actually, with hdb amenities, better still. Someone said, mis-priced? I also agree.

Dakotaa
24-06-08, 20:48
URA say remaking 15 years mean 50 years .... must live damn long ... to see the light ...

MrLim
24-06-08, 20:57
Aiyo, living in Singapore, everywhere got hdb except maybe, certain landed property, bungalow area. To be fair, Dakota Residences is an OK project and priced reasonably - not cheap and also not overpriced to me. Old Airport food centre is OK what... compare Dakota Residences to Dunman View, still got units also $900 psf from developer... which would you buy? Older and no mrt. URA also not that bad, compliments to them.

Blue
24-06-08, 21:04
I totally agree. The best you can get to be near city but without having to pay the price of Icon, another 99 year project near MRT, so what if got balcony or school? Icon got temple. Actually, with hdb amenities, better still. Someone said, mis-priced? I also agree.
mmmm..... when is second phase launching? sounds not too bad.

Unregistered1
24-06-08, 22:30
mmmm..... when is second phase launching? sounds not too bad.
Anyone knows?

ggd
24-06-08, 22:41
Heard from the agent that coming sat will be the official launch. Probably will launch all units...

Unregisterederer
24-06-08, 22:59
But seriously if MRT is what you're after and you don't drive, then HDB got much more choices. Not many people use the pool anyway. So what's the point of paying a premium for a 99 years property when HDB is only 1/2 price and also 99 year lease? The $$ u save can buy many other things and allow u to retire earlier. If buy private property, then must be exclusive private enclave, FH , good facilities and enough parking spaces for your cars. No need MRT.... I just don't see the premium between this 99LH apt and the HDB flat nearby. Cut the crap about the showflat look nicer. Anyone can spend $100k on an HDB and look just as good.


Aiyo, living in Singapore, everywhere got hdb except maybe, certain landed property, bungalow area. To be fair, Dakota Residences is an OK project and priced reasonably - not cheap and also not overpriced to me. Old Airport food centre is OK what... compare Dakota Residences to Dunman View, still got units also $900 psf from developer... which would you buy? Older and no mrt. URA also not that bad, compliments to them.

Lucy
25-06-08, 07:02
But seriously if MRT is what you're after and you don't drive, then HDB got much more choices. Not many people use the pool anyway. So what's the point of paying a premium for a 99 years property when HDB is only 1/2 price and also 99 year lease? The $$ u save can buy many other things and allow u to retire earlier. If buy private property, then must be exclusive private enclave, FH , good facilities and enough parking spaces for your cars. No need MRT.... I just don't see the premium between this 99LH apt and the HDB flat nearby. Cut the crap about the showflat look nicer. Anyone can spend $100k on an HDB and look just as good.
For better rental yield?

Unregistered01
25-06-08, 07:23
For better rental yield?
Shd be decent given mrt and so close to town.

minimi
25-06-08, 08:52
Is dakota in D14 or D15 ?

Unregistered3
25-06-08, 10:24
District 14

Unregistered1
25-06-08, 10:54
District 14
D14 hah.... for HDB upgradder nearly 1000 psf too high, for the rest, D14 sounds not so attractive...

iridrium
25-06-08, 13:13
D14 hah.... for HDB upgradder nearly 1000 psf too high, for the rest, D14 sounds not so attractive...

Sometimes buying a property to stay is not about the District or the price, its is the feel that matters.

I personally like Dakota site a lot due to the environment around it. The area is nice and peaceful with great view towards the South. Three years down the road when the circle line is ready, it will be almost prefect.

If I can afford it , I would definitely buy one. I think the price will appreciate nearer TOP, just like what happened to Citylight.

why r sinkies suckers?
25-06-08, 14:24
FEEL????

You gotta be kidding.

How does it FEEL to pay almost $1000 psf to live among HDB flats and a big smelly hawker centre? With char kway teow fumes coming in every day?

How does it FEEL to pay almost $1000 psf to live in a 99yr condo that is not even in a prime district???

Whatever feel there is living here in Dakota Crescent, I can tell you that all the HDB dwellers living around you will be pointing their fingers laughing at your car whenever you drive thorugh the gates of your Dakota Residence "See? Look at that SUCKER!" HAHAHAHHAA

Unregistered2
25-06-08, 14:28
FEEL????

You gotta be kidding.

How does it FEEL to pay almost $1000 psf to live among HDB flats and a big smelly hawker centre? With char kway teow fumes coming in every day?

How does it FEEL to pay almost $1000 psf to live in a 99yr condo that is not even in a prime district???

Whatever feel there is living here in Dakota Crescent, I can tell you that all the HDB dwellers living around you will be pointing their fingers laughing at your car whenever you drive thorugh the gates of your Dakota Residence "See? Look at that SUCKER!" HAHAHAHHAA

you are very imaginative about hdb residents pointing at your car indeed!

char kway teow fumes coming in from so far away? are you kidding too?

how do you define prime district? in the past toa payoh is considered ulu. now, it is not. dakota is so near city, i will not be surprised if it becomes a prime district one day. and this is not a far fetched thing since the government is developing this area.

are u stupid?
25-06-08, 14:35
you are very imaginative about hdb residents pointing at your car indeed!

char kway teow fumes coming in from so far away? are you kidding too?

how do you define prime district? in the past toa payoh is considered ulu. now, it is not. dakota is so near city, i will not be surprised if it becomes a prime district one day. and this is not a far fetched thing since the government is developing this area.

How to define prime district?

An area which houses the wealthiest people in the country or city (may or may not be citizens), an area with the highest land value in the country or city.

Ae you saying that Toa Payoh currently has the highest land values in Singapore? Do the richest people live in Toa Payoh?

Sorry Toa Payoh didn't qualify as a prime district back then, just as it does not qualify now!

Do you mean to say that Dakota land values will one day surpass Orchard, Marina Bay, Keppel, Newton, River Valley, Grange, Holland, Bukit Timah land values????

If you don't know what is prime district then shut up.

iridrium
25-06-08, 14:54
FEEL????

You gotta be kidding.

How does it FEEL to pay almost $1000 psf to live among HDB flats and a big smelly hawker centre? With char kway teow fumes coming in every day?

How does it FEEL to pay almost $1000 psf to live in a 99yr condo that is not even in a prime district???

Whatever feel there is living here in Dakota Crescent, I can tell you that all the HDB dwellers living around you will be pointing their fingers laughing at your car whenever you drive thorugh the gates of your Dakota Residence "See? Look at that SUCKER!" HAHAHAHHAA

Haha. And I thought School holiday is over.

Same things have been said of The Sail and Citylight and look where are they now.

I cant claim that I can predict the future but I spent months studying the site and I truely believe in what I said.

Everyone is entitled to their own opinion and I do stand by my opinion. :)

Unregistered2
25-06-08, 15:16
How to define prime district?

An area which houses the wealthiest people in the country or city (may or may not be citizens), an area with the highest land value in the country or city.

Ae you saying that Toa Payoh currently has the highest land values in Singapore? Do the richest people live in Toa Payoh?

Sorry Toa Payoh didn't qualify as a prime district back then, just as it does not qualify now!

Do you mean to say that Dakota land values will one day surpass Orchard, Marina Bay, Keppel, Newton, River Valley, Grange, Holland, Bukit Timah land values????

If you don't know what is prime district then shut up.

who said toa payoh was considered prime district? i only said it was considered ulu in the past, but not ulu now.

and who in the world will think that dakota will surpass orchard or marina bay? please talk sense.

outsider
25-06-08, 15:26
who said toa payoh was considered prime district? i only said it was considered ulu in the past, but not ulu now.

and who in the world will think that dakota will surpass orchard or marina bay? please talk sense.

Then you, uneducated fool with zero basis in logic, MUST stop talking of Dakota becoming a prime district (your own words).

outsider
25-06-08, 15:30
Haha. And I thought School holiday is over.

Same things have been said of The Sail and Citylight and look where are they now.

I cant claim that I can predict the future but I spent months studying the site and I truely believe in what I said.

Everyone is entitled to their own opinion and I do stand by my opinion. :)

I know where the Sail is at, but Citylights?

To many people it is still located in a HDB heartland, even worse, with factories and coffin shops surounding it!

One identifying clue to whether an area will become "prime" and high class would be the existence and/or lack of HDB flats.

If you haven't noticed, rich people do not normally like to live in an area that is equally accessible to the non-rich (aka HDB flats in the same area).

Disbelieve at your own peril.

mimi
25-06-08, 15:37
for goodness sake, icon is surrounded by temple and HDB blocks but it is still selling at a premium

blackjack21trader
25-06-08, 16:12
outsider, I believe you ! What you said is very true when I recall my experience with what you said.


I know where the Sail is at, but Citylights?

To many people it is still located in a HDB heartland, even worse, with factories and coffin shops surounding it!

One identifying clue to whether an area will become "prime" and high class would be the existence and/or lack of HDB flats.

If you haven't noticed, rich people do not normally like to live in an area that is equally accessible to the non-rich (aka HDB flats in the same area).

Disbelieve at your own peril.

dudette
25-06-08, 16:25
for goodness sake, icon is surrounded by temple and HDB blocks but it is still selling at a premium

At a premium? Premium to what? Premium to 99 year condo in Yishun, yeah sure!

Premium to The Sail? To One Shenton? The Lumiere? Nope.

By the way, Icon's price is the lowest among those city condos found in D1 and D2.

Do you agree that the Icon's price could be higher if the HDB flats and temple suddenly disappeared from there? If you say yes, then you do agree that the existence of surrounding HDB flats are a drag on any condo's pricing.

iridrium
25-06-08, 16:53
I know where the Sail is at, but Citylights?

To many people it is still located in a HDB heartland, even worse, with factories and coffin shops surounding it!

One identifying clue to whether an area will become "prime" and high class would be the existence and/or lack of HDB flats.

If you haven't noticed, rich people do not normally like to live in an area that is equally accessible to the non-rich (aka HDB flats in the same area).

Disbelieve at your own peril.

The reason why I used Citylights is not on the basis of prime or not prime but rather on the basis of price. Average price transacted for new sales at Citylights is $661psf while subsale at $1,047psf, increase of 58%. I think that DR has the potential to achieve similar performance to these two assets.

I do recall saying that 'IF' I have money. First of all, I am not rich and probably that is the reason why Dakota Residence appeals to me. I did not disagree that the price point is a bit steep for non-rich people like myself and I certainty cannot afford to buy a unit there. I am saying I would like to stay there IF I have the money, not in Orchard Road, not in CBD.

Mary
25-06-08, 19:24
Sometimes buying a property to stay is not about the District or the price, its is the feel that matters.

I personally like Dakota site a lot due to the environment around it. The area is nice and peaceful with great view towards the South. Three years down the road when the circle line is ready, it will be almost prefect.

If I can afford it , I would definitely buy one. I think the price will appreciate nearer TOP, just like what happened to Citylight.
I agree with you... absolutely.

FUNNY
25-06-08, 19:29
How to define prime district?

An area which houses the wealthiest people in the country or city (may or may not be citizens), an area with the highest land value in the country or city.

Ae you saying that Toa Payoh currently has the highest land values in Singapore? Do the richest people live in Toa Payoh?

Sorry Toa Payoh didn't qualify as a prime district back then, just as it does not qualify now!

Do you mean to say that Dakota land values will one day surpass Orchard, Marina Bay, Keppel, Newton, River Valley, Grange, Holland, Bukit Timah land values????

If you don't know what is prime district then shut up.

Strange. Why are you forumers comparing Dakota Crescent to Orchard Road? Let's look at Dakota Residences based on its own merit ie near city, got MRT, quiet surrounding, potential masterplan benefit, OK pricing, HDB amenities (well, at least a plus to me), food centre (char kway teow, I love) etc

Orchard Road also got its merits and negatives...

Darius
25-06-08, 20:33
I went to the showflat today, now 80% sold for first phase. Good units taken up. The agent told me that the second phase will be up by $50 psf at least with good facing, high floors, going above that. Of cos, marketing talk, let's see how it pans out. Weekday afternoon, still got 5-6 pairs/groups in the showroom. So, looks like it is well received. The facing towards the landed property, river is charming...

Darius
25-06-08, 20:35
Anyone knows whether there is any buyer financing tie up for this project?

Diff Profile
25-06-08, 22:03
That is true. But I think Dakota does not attract the "rich" profile. It's 99 LH near MRT and HDB - it probably attracts non-drivers, don't mind property can't be passed on, not much facilities but want private address for "status". Those people who fit this profile usually go for 99LH near MRT surrounded by HDB. Whatever it is, it's still a Singapore dream to carry a private addy in your IC - 99LH HDB-like also nevermind. I think the buyers there are clearly not looking for exclusive environment - more like a private address to show off in an HDB environment. Everyone has their choice.


I know where the Sail is at, but Citylights?

To many people it is still located in a HDB heartland, even worse, with factories and coffin shops surounding it!

One identifying clue to whether an area will become "prime" and high class would be the existence and/or lack of HDB flats.

If you haven't noticed, rich people do not normally like to live in an area that is equally accessible to the non-rich (aka HDB flats in the same area).

Disbelieve at your own peril.

Darius
25-06-08, 22:27
That is true. But I think Dakota does not attract the "rich" profile. It's 99 LH near MRT and HDB - it probably attracts non-drivers, don't mind property can't be passed on, not much facilities but want private address for "status". Those people who fit this profile usually go for 99LH near MRT surrounded by HDB. Whatever it is, it's still a Singapore dream to carry a private addy in your IC - 99LH HDB-like also nevermind. I think the buyers there are clearly not looking for exclusive environment - more like a private address to show off in an HDB environment. Everyone has their choice.

Frankly, I never expect the project to attract the "rich" profile :) this is afterall a NTUC JV project and so I am surprised by the incessant comparison to "prime" and "rich" areas.... uhm... I do not think it is marketed to target that group.... I think the salepersons know the profile and based on newspaper article, the developer already say it attracts professionals, hdb upgraders.... not landed property or "prime" properties downgraders... ;)

BIG_ONE
25-06-08, 22:36
I went to the showflat today, now 80% sold for first phase. Good units taken up. The agent told me that the second phase will be up by $50 psf at least with good facing, high floors, going above that. Of cos, marketing talk, let's see how it pans out. Weekday afternoon, still got 5-6 pairs/groups in the showroom. So, looks like it is well received. The facing towards the landed property, river is charming...

Wah...... not bad to achieve 80% in a week (?) since launch! Must go and see.......

Unregistered99
26-06-08, 10:03
Went to view the show flat, the location of this condo is very good, close to MRT, Food Court, NTUC, market and 7-11.

The only drawback is the common area is small, price quite expensive (given it's surrounded by HDB) at 1.2mil for 3 bedroom size of 1356sqft, no tennis court, lap pool width rather small.

Unregistered3
26-06-08, 10:51
DBS offers interest absorption scheme. No payment till TOP

Unregistered00000
26-06-08, 10:53
If u like the outside of the condo, i.e. location and HDB amenities (and nothing else), then just buy the HDB there!


Went to view the show flat, the location of this condo is very good, close to MRT, Food Court, NTUC, market and 7-11.

The only drawback is the common area is small, price quite expensive (given it's surrounded by HDB) at 1.2mil for 3 bedroom size of 1356sqft, no tennis court, lap pool width rather small.

registeredliao
26-06-08, 11:20
Does it consider a mid tier condo?

very smart
26-06-08, 11:22
If u like the outside of the condo, i.e. location and HDB amenities (and nothing else), then just buy the HDB there!

haha that's what i would do too... but i will buy one that faces the condo.

then i can:

1. appreciate your nice modern stylish condo architecture (you can only appreciate a nice view of my HDB ahhaahhaahaha)

2. benefit from the location (if what they is true that this area will boom)

3. appreciate the HDB amenities (including the char kway teow)

while paying 1/3 of your high class dakota condo price!

hahahaahahahaha

you fool
26-06-08, 11:24
That is true. But I think Dakota does not attract the "rich" profile. It's 99 LH near MRT and HDB - it probably attracts non-drivers, don't mind property can't be passed on, not much facilities but want private address for "status". Those people who fit this profile usually go for 99LH near MRT surrounded by HDB. Whatever it is, it's still a Singapore dream to carry a private addy in your IC - 99LH HDB-like also nevermind. I think the buyers there are clearly not looking for exclusive environment - more like a private address to show off in an HDB environment. Everyone has their choice.


What private add you talking about? Your IC and official docs will not show "Dakota Residences" but instead will show "Blk xx, Dakata Crescent, #xx-xx, Singapore xxxxxx"

same as any HDB there!

registeredforwhat
26-06-08, 11:30
I can many sour grades around here

sibeh sian
26-06-08, 11:32
Does it consider a mid tier condo?

considered mass market condo.

mid tier is novena, river valley, newton, holland.

u no-no engrish?
26-06-08, 11:32
I can many sour grades around here

what grades? you get an "F" for fail!

Unregistered anyway
26-06-08, 11:33
Do you think the nearby very very old and short HDB would be torn down soon? They give a "slum" feel to the area...

registeredliao
26-06-08, 12:01
what grades? you get an "F" for fail!
let me guess, dakota residence will eventually block your HDB view so that explains all the whining in this forum

SourPuss
26-06-08, 20:15
I can many sour grades around here
ya, not surprised if they are from the same few persons or even 1 individual!

Darius
26-06-08, 20:32
DBS offers interest absorption scheme. No payment till TOP

Where can I get more info on this? went to DBS website, can"t find any info.

Down Down
26-06-08, 21:16
Singapore factory output down 12.8% on-year in May
Posted: 26 June 2008 1323 hrs

SINGAPORE - Singapore's industrial production in May slumped by a much-bigger-than-expected 12.8 per cent from a year ago, pulled down by a 55.1 per cent drop in biomedical output, the government said Thursday.

Analysts had projected a fall of 2.5 per cent for May.

On a seasonally adjusted basis, industrial output last month fell 5.7 per cent from April, the Economic Development Board (EDB) said in its monthly report.

"Production in May dropped 12.8 per cent compared to the same month last year, largely due to a contraction in the biomedical manufacturing cluster," said the EDB.

The sharp plunge in biomedical output was due mainly to the pharmaceuticals segment, which shrank 58.2 per cent because a different batch of ingredients was produced, it said.

Precision engineering also declined last month with output down 4.8 per cent on the year, but other sectors fared better. The EDB reported increased output in electronics, chemicals and transport engineering.

Electronics output gained 3.8 per cent in May. Almost all electronics segments recorded higher production but information and communications, and consumer electronics, were exceptions, the EDB said.

Chemicals production was up 2.2 per cent and transport engineering increased 13.0 per cent, boosted by the robust marine and offshore engineering industries, it said.

Singapore's monthly manufacturing report is widely monitored as the sector accounts for a third of the city state's gross domestic product, worth 243 billion Singapore dollars in 2007.

The export-reliant economy grew slower than estimated in the year's first quarter, at 6.7 per cent, as demand weakened due to a slowdown in the United States and other key markets, the government has said. - AFP/ir

CNA - June 26 '08

UpUp
26-06-08, 22:12
June 26, 2008

Citi sees no oversupply of homes in next two years

It estimates only 60% of the 30,000 units forecast will be completed, so fall in prices will be modest

By Joyce Teo, Property Correspondent


ANALYSTS from Citigroup have stuck their necks out to dismiss some market predictions of a crippling property glut in the next two years.

Official figures show that around 30,000 homes will be completed in the next two years, but Citi reckons only around 60 per cent will likely be ready.

If the bank's forecast is accurate, it could mean that downward pressure on prices will not be as great as some had feared.

Citi's report on Singapore property, which came out on Tuesday, pointed to where previous predictions may have got it wrong.

It stated that by the end of March, there were 6,000 collective sale units that had yet to be demolished.

Some of the delays are because of legal challenges over sales, as well as developers extending lease periods for owners due to the weak primary market, Citi said.

It estimated that there will be 8,200 units completed next year and 10,200 in 2010, assuming no further collective sales are done.

These numbers are way below market expectations of 12,500 units next year and 17,500 units in 2010, it said.

These higher supply numbers had led many experts to conclude that an oversupply was on the cards.

But Citi stated: 'We have always argued that such estimates are not always accurate and they often get revised downward over time.'

However, it did not elaborate further on the reasons for its lower supply projections.

Knight Frank director of research and consultancy Nicholas Mak said the direct impact of the supply completion figures on prices is limited because most of these homes would already have been sold.

But a large supply of homes for occupation would negatively affect rentals, and this would in turn hit prices, he added.

Savills Singapore also believes the supply figures released by the Urban Redevelopment Authority are too high.

Mr Ku Swee Yong, its director of marketing and business development, said completion delays in collective sales, as well as delayed launches, have not been factored in.

'There are insufficient construction resources, which means there will likely be delays,' he added.

'Prices of mid- to high-end properties will fall but not to the extent of the 30 per cent to 40 per cent drop predicted by some analysts.'

Banks like Credit Suisse and Barclays Capital have forecast drops of up to 40 per cent in rents and prices, but Citi tips a fall of up to 30 per cent, and largely only in high-end homes.

Citi expects this sector will suffer from falling demand, particularly as expatriates and locals keep downgrading.

That will put downward pressure on rents of prime homes and further pressure on prices, it said.

Citi also said a long downturn like the one that caught out many buyers in the late 1990s and early 2000s is unlikely.

This is because resale volumes are still at above average levels, reflecting strong genuine demand. There is no sign of overbuilding or an overall housing shortage.

Also, mass market homes remain highly affordable and are supported by high rental yields of more than 5 per cent, Citi said.

'Due to the sharp rise, we believe high-end residential is likely to suffer the brunt of the 20 per cent to 30 per cent price decline while the mass market should remain fairly firm.'

The mid-tier segment is likely to fall by 10 per cent to 20 per cent, it said. These are from a high base.

Luxury home prices have surged by 149 per cent since the troughs in 2004.

Prices in the mid-tier and mass-market segments rose by a still robust 79 per cent and 39 per cent respectively.

UP YOUR MOTHER
26-06-08, 23:38
up your mother lah!

this news already posted in the general condo news section by mr funny

why you so KNN must post again all over the forum!

Fúck You
26-06-08, 23:58
up your mother lah!

this news already posted in the general condo news section by mr funny

why you so KNN must post again all over the forum!
Fúck you lah, CB shemale! Don't uttering rubbish from your ass. Bring your ass somewhere for others to fúck.

Unreg¡stered
27-06-08, 00:17
Can the 2 of you shut up and listen to what Mr Li say?

http://www.todayonline.com/articles/261453.asp

Wednesday, June 25, 2008

Cheung Kong Holdings keen on Singapore


MR LI Ka Shing’s Cheung Kong Holdings, Asia’s second-largest developer by market value, said it is keen to invest in Hong Kong, China and Singapore as the region’s property market is undergoes a “small consolidation”.

Prime offices and industrial parks offer investment opportunities because of economic “fundamentals” in the region, Cheung Kong’s Executive Director Justin Chiu said at a property conference in Singapore yesterday. He said he doesn’t expect “significant” price declines in the next 18 months.

Added Mr Chiu: “We’re just at the low tide of the economic cycle. When we clear the sub-prime issues, :I’m fairly confident Asia will come back.”

Property developers are seeking more investments to meet rising demand in China and India, the two fastest-growing major economies in the world. China’s economy is forecast by the World Bank to expand by 9.8 per cent this year, even though gains in home prices slowed.

“Across all three markets in the world — America, Europe and Asia — the best prospects, in my view, are for Asia right now,” said Mr Sameer Nayar, head of real estate finance at Credit Suisse. “It is just because you are talking about half the world’s population and most of the world’s :growth in gross domestic product is coming from Asia.”

Mr Chiu said that residential developments may be riskier because they are more dependent on the domestic economy. Home prices in Singapore are easing after rising to record highs last year as a global credit squeeze damped demand, while Hong Kong’s home sales fell for a second month as prices cooled.

Sales by value of residential units in Hong Kong slumped 31.1 per cent in May from a year earlier to HK$26.3 billion($4.6 billion), the biggest drop in 19 months, after falling 30.1 per cent in April.

China’s home prices rose 9.2 per cent in May, the slowest gain since September 2007. New home prices increased 10.2 per cent last month from a year earlier. — Bloomberg

DowJones
27-06-08, 07:29
I was told by my agent friend, now 85% - 90% of the initial launch sold. Today, new releases at higher prices, but they will tell you marginal increase or even no increase... !

Unregistered3
27-06-08, 09:13
Where can I get more info on this? went to DBS website, can"t find any info.


Not on website. Got the information at the showflat...

Unregistered3
27-06-08, 09:24
Exclusive DBS Zero Installment Home Loan for Dakota Residences

Dear valued customers,

From now till 31st August 2008, DBS will be running a promotion for Dakota Residences.

During this promotional period, new home owners will get to enjoy 3-year zero installment home loan* from now till your new home obtains Temporary Occupation Permit (TOP)!

With the 3-year zero installment feature, we can assist you to ease your cashflow during the construction phase of the project.

In addition, you will be able to achieve savings up to S$30,000/- during the interest free period.

Interest rate

Interest free period: 0.00%
Thereafter: SIBOR + 1.75%

The Interest-free period commences from first disbursement of Housing Loan and ends 3 years thereafter or upon issuance of T.O.P., whichever is earlier.

Partial and Full redemption penalty
1.50% from 1st disbursement of Housing Loan till 2 years from date of issuance of TOP
Cancellation Fee
1.50% on the amount cancelled or undisbursed
Lock In Period
From 1st disbursement of Housing Loan till 2yrs from date of issuance of TOP

* All offers subject to terms and conditions. Applications may be accepted or rejected at the Bank's absolute discretion.

To obtain approval for this exclusive DBS Home Loan package, please contact our business manager Melvyn Lu at 94502328 or home advice specialist Billy Poon at 91998876 or Alex Oh at 94389453.

Unregistered3
27-06-08, 09:27
I was told by my agent friend, now 85% - 90% of the initial launch sold. Today, new releases at higher prices, but they will tell you marginal increase or even no increase... !

Any idea what is the psf for this launch?

Tony Blair
27-06-08, 09:47
Exclusive DBS Zero Installment Home Loan for Dakota Residences

Dear valued customers,

From now till 31st August 2008, DBS will be running a promotion for Dakota Residences.

During this promotional period, new home owners will get to enjoy 3-year zero installment home loan* from now till your new home obtains Temporary Occupation Permit (TOP)!

With the 3-year zero installment feature, we can assist you to ease your cashflow during the construction phase of the project.

In addition, you will be able to achieve savings up to S$30,000/- during the interest free period.

Interest rate

Interest free period: 0.00%
Thereafter: SIBOR + 1.75%

The Interest-free period commences from first disbursement of Housing Loan and ends 3 years thereafter or upon issuance of T.O.P., whichever is earlier.

Partial and Full redemption penalty
1.50% from 1st disbursement of Housing Loan till 2 years from date of issuance of TOP
Cancellation Fee
1.50% on the amount cancelled or undisbursed
Lock In Period
From 1st disbursement of Housing Loan till 2yrs from date of issuance of TOP

* All offers subject to terms and conditions. Applications may be accepted or rejected at the Bank's absolute discretion.

To obtain approval for this exclusive DBS Home Loan package, please contact our business manager Melvyn Lu at 94502328 or home advice specialist Billy Poon at 91998876 or Alex Oh at 94389453.


Whoa!Sure buy.

mr funny
27-06-08, 10:15
http://www.businesstimes.com.sg/sub/companies/story/0,4574,285368,00.html?

Published June 27, 2008

Ho Bee's robust sales prompt more launches

By KALPANA RASHIWALA


SOME developers are riding on the pick-up in home-buying mood created by Ho Bee's Dakota Residences preview last week to launch their own projects.

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-06-27/BT_IMAGES_CRCLOVER27.jpg
Upbeat: Sim Lian Grp has sold about 100 units of the Clover By The Park condo since its Wednesday preview

Mainboard-listed Sim Lian Group, for one, has sold about 100 units of its Clover By The Park condo at Bishan St 22 since it began previewing the development on Wednesday at an average price of $750 psf.

Next to Kovan MRT Station, an outfit controlled by UOB-Kay Hian star stockbroker pair Han Seng Juan and David Loh Kim Kang is getting ready to release its 512-unit condo, according to industry sources.

BT understands that Centurion Kovan, which is developing the project, plans to preview the condo soon to 'remisier friends' of Messrs Han and Loh. There are also plans to preview the condo overseas, including China. The average price is expected to be in the $850-900 psf range.

The duo bought the 189,812 sq ft site at a state tender in October last year for around $436 psf per plot ratio.

Over in Bishan, Sim Lian is developing two 39-storey blocks with a total of 616 units for the Clover By The Park condo. The first phase released earlier this week comprises one tower with 308 units. It is near good schools like Catholic High (within 1 km), Ai Tong Primary School and Raffles Institution. 'Clover By The Park features three-bedroom and four-bedroom units to luxurious penthouses and suites of six bedrooms,' Sim Lian said in a release yesterday.

Ho Bee has sold 95 units at Dakota Residences since last Friday. The average price is $976 psf. All three projects are 99-year leasehold.

D12-14
27-06-08, 10:33
Does anyone know whether D12 pte properties hold a better price than D14? For example, prices for The Verve is much higher than that of Dakota. Is this justifiable?

Unregistered3
27-06-08, 10:42
The Verve is FH?

friends
27-06-08, 10:48
Does it really matter? Nowadays people dun stay in the same house for more than 30 years.

D12 - 14
27-06-08, 10:56
The Verve is FH?


Yes FH ...

Unregistered3
27-06-08, 11:03
Maybe coz I'm a "East" person, D14 holds more value to me.

But, D12 is also very central and close to town...so I guess, at the end of the day, it boils down to personal preference for the area and the amenities (that would serve your purpose)...

BTW, what's the psf for the Verve? Understand that the units are generally quite small?

D 12 -14
27-06-08, 11:04
Does it really matter? Nowadays people dun stay in the same house for more than 30 years.

Yes, it matters. FH tends to hold its value better than LH. LH depreciates faster than FH pty. That said, if LH is purchased for rental investm, it will thus provide higher ROI since its price is lower compared to FH in the same district. FH is always deem to be more valuable since ownership is perpetual compared to LH's 99 years.

Unregistered3
27-06-08, 11:04
Does it really matter? Nowadays people dun stay in the same house for more than 30 years.

Agree, location is more impt. But, having said that, the general feel from people is that they place more "value" on a FH property...no right or wrong.

D 12 - 14
27-06-08, 11:06
Maybe coz I'm a "East" person, D14 holds more value to me.

But, D12 is also very central and close to town...so I guess, at the end of the day, it boils down to personal preference for the area and the amenities (that would serve your purpose)...

BTW, what's the psf for the Verve? Understand that the units are generally quite small?


Yes, I believe ppl who bought the Verve is more for investment ie rental to expats. Units are typically small. Studios sizes are ard 441sqf only for about $500K. Psf is about $900 to 1100 in today's prices.

Happy1
27-06-08, 19:37
Any idea what is the psf for this launch?
Anyone can advise?

LH
27-06-08, 20:36
At the end of the day, it is still many Singapore dream to ultimately stay in FH properties. Many pple go through this life cycle 99LH HDB ->LH condo ->FH condo/landed. Of course one may argue that rich people buy 99LH properties too, but mostly as investment. Most of the truly-rich's primary residence is FH property because the rich cannot spend all their money in their lifetime and will bother to save their estate for future generations. Having said that, I think many HDB upgraders will not bother with FH vs LH since they take a short term interest in their property - like what someone say earlier, if they plan to sell and upgrade shortly, who cares as long as someone willing to take the shorter end of the stick? Do always bear in mind that 99LH condos will usually have a high proportion of HDB upgraders, the neighbours would be more HDB-like, which can be both a boon and a bane. Also, there is a high probably that 99LH leases may not be extended - which has happened already in 3 cases. So the property value will start to decline when the lease term is near.


Agree, location is more impt. But, having said that, the general feel from people is that they place more "value" on a FH property...no right or wrong.

Registered
27-06-08, 21:52
Did the developer increase price? Going to the showflat tomorrow.

Bus
28-06-08, 15:34
The showroom was packed today. Some units above $1000 psf.

Unregistered4
28-06-08, 15:56
Wow, the fever is BACK!

UP UP
28-06-08, 16:44
pent-up demand over the last 8-9 months after the scrap of deferred payment scheme and some small consolidation of prices, more realistic prices. This project is in good location, near city and with mrt. Quiet surroundings, off main road. If I got the dough, I will buy too.

Darius
28-06-08, 17:09
Somehow, NTUC projects sell well. 50,000 link points = ??

Old Money
28-06-08, 19:45
There are a lot of High Net Worth individuals currently waiting on the sideline waiting to buy. So, once there is a signal these people will rush in to snap up supposedly hot properties. I am sure there are also a lot of enbloc home owners who have not got a replacement home yet waiting for more attractive prices. All these HNW will help support the property market.

Martin
28-06-08, 19:59
There are a lot of High Net Worth individuals currently waiting on the sideline waiting to buy. So, once there is a signal these people will rush in to snap up supposedly hot properties. I am sure there are also a lot of enbloc home owners who have not got a replacement home yet waiting for more attractive prices. All these HNW will help support the property market.
I was at the showroom.... somehow I do not think the project attract the younger HDB upgraders crowd but more the more established, older crowd ie those that already own private properties with say teen or grown up children?? also, the buyers seem to be buying for investment, just my observation.

Darren
28-06-08, 21:04
At 1000 psf.... obviously... it is out of reach of upgraders...

assuming a loan of $1m..... over 35 years.... you are looking at 4-5K installment a month

interested
28-06-08, 21:49
anyone there today? how's the sales?

Investment
28-06-08, 22:05
So it's the older crowd buying for investment? Very garang for specuinvestors now to buy now for investment, esp when every indication out there is property prices will correct. At 1000psf, rental yield can't be too great right? Anyway, good news that volume is coming back in droves.
I was at the showroom.... somehow I do not think the project attract the younger HDB upgraders crowd but more the more established, older crowd ie those that already own private properties with say teen or grown up children?? also, the buyers seem to be buying for investment, just my observation.

Bored shopper
29-06-08, 00:30
So it's the older crowd buying for investment? Very garang for specuinvestors now to buy now for investment, esp when every indication out there is property prices will correct. At 1000psf, rental yield can't be too great right? Anyway, good news that volume is coming back in droves.
Oh they are merely window shoppers. Haven't had a chance to do that due to low number of launches. Kids bored at home so they go around. Dont read too much into it.

JR
29-06-08, 01:25
I just visited the show flat earlier, lots of people, reminds me of the last yr craze. But after studing the project, decided against buying as:

1) The supposedly nice Geylang River on site plan is actually a big dirty canal. Brownish water flowing thru when i was there in the afternoon. I fail to appreciate brownish canal view or landed property rooftop view.

2) All the stacks facing the school would have no end of Marikita in the morning as it is so near.

3) All the stacks facing sch will be hit by the west sun badly as they are unblocked.

4) The distance bet stack 1 & 5 and stack 16 & 20 is so close. It does matter cos bedrm 2 of Type B2 bedrm actually face each other for stack 1 & 5 and stack 16 & 20. It would be very hot as wind just can't come in and one have to bear wif the glare from the reflection of light of the wall of the opp. stack.

This is different from another D15 project i saw. Although 2 of the stacks appear quite close but they have no bedrm or window facing each other.

5) Stack 1 & 20 is the worst, Master bedrm staring into stack 8 or 13 masterrm balcony if lucky, else would be partially blocked by bedrm 3 of type C1. If the residents of stack 8 or 13 grow some tall plants in in the balcony to avoid pple staring into them as they sit in the balcony, Stack 1 & 20 Masterbedrm = no view at all.

6) Overall it would be a relatively congested project, as land area is approx only 125k sqft shared by 20 stacks.

7) LH99yrs

8) Another larger plot of land approx 193k sqft is already on the reserve site. Huge supply available.

In short, despite near Dakota MRT, it is a no go for me.

Gd luck to those who bought :)

SueEllen
29-06-08, 07:36
I just visited the show flat earlier, lots of people, reminds me of the last yr craze. But after studing the project, decided against buying as:

1) The supposedly nice Geylang River on site plan is actually a big dirty canal. Brownish water flowing thru when i was there in the afternoon. I fail to appreciate brownish canal view or landed property rooftop view.

2) All the stacks facing the school would have no end of Marikita in the morning as it is so near.

3) All the stacks facing sch will be hit by the west sun badly as they are unblocked.

4) The distance bet stack 1 & 5 and stack 16 & 20 is so close. It does matter cos bedrm 2 of Type B2 bedrm actually face each other for stack 1 & 5 and stack 16 & 20. It would be very hot as wind just can't come in and one have to bear wif the glare from the reflection of light of the wall of the opp. stack.

This is different from another D15 project i saw. Although 2 of the stacks appear quite close but they have no bedrm or window facing each other.

5) Stack 1 & 20 is the worst, Master bedrm staring into stack 8 or 13 masterrm balcony if lucky, else would be partially blocked by bedrm 3 of type C1. If the residents of stack 8 or 13 grow some tall plants in in the balcony to avoid pple staring into them as they sit in the balcony, Stack 1 & 20 Masterbedrm = no view at all.

6) Overall it would be a relatively congested project, as land area is approx only 125k sqft shared by 20 stacks.

7) LH99yrs

8) Another larger plot of land approx 193k sqft is already on the reserve site. Huge supply available.

In short, despite near Dakota MRT, it is a no go for me.

Gd luck to those who bought :)
Not vested.

(1) Masterplan talks of beautifying the whole Geylang to Kallang Basin. Actually, very serene I find as it is.

(2) Even properties in Bukit Timah got schools, very difficult to escape?

(4) and (5) and (6) - then choose other units in the project lor. reflection from glare... such detailed analysis.

(7) if freehold, then would price higher mah.

(8) lower plot ratio hor. Better still, the whole stretch become private residential area.

Every project got good and bad, to me, proximity to city and MRT are the biggest plus points. Others, depending on individuals, close to hdb amenities and schools are must.

Whatever, the whole project now 80% sold.

Money
29-06-08, 07:41
Not vested.

(1) Masterplan talks of beautifying the whole Geylang to Kallang Basin. Actually, very serene I find as it is.

(2) Even properties in Bukit Timah got schools, very difficult to escape?

(4) and (5) and (6) - then choose other units in the project lor. reflection from glare... such detailed analysis.

(7) if freehold, then would price higher mah.

(8) lower plot ratio hor. Better still, the whole stretch become private residential area.

Every project got good and bad, to me, proximity to city and MRT are the biggest plus points. Others, depending on individuals, close to hdb amenities and schools are must.

Whatever, the whole project now 80% sold.

http://www.myhometown.sg/Forum/tabid/84/forumid/275/tpage/1/view/topic/postid/25607/Default.aspx#25607

Vested
29-06-08, 08:09
I just visited the show flat earlier, lots of people, reminds me of the last yr craze. But after studing the project, decided against buying as:

1) The supposedly nice Geylang River on site plan is actually a big dirty canal. Brownish water flowing thru when i was there in the afternoon. I fail to appreciate brownish canal view or landed property rooftop view.

2) All the stacks facing the school would have no end of Marikita in the morning as it is so near.

3) All the stacks facing sch will be hit by the west sun badly as they are unblocked.

4) The distance bet stack 1 & 5 and stack 16 & 20 is so close. It does matter cos bedrm 2 of Type B2 bedrm actually face each other for stack 1 & 5 and stack 16 & 20. It would be very hot as wind just can't come in and one have to bear wif the glare from the reflection of light of the wall of the opp. stack.

This is different from another D15 project i saw. Although 2 of the stacks appear quite close but they have no bedrm or window facing each other.

5) Stack 1 & 20 is the worst, Master bedrm staring into stack 8 or 13 masterrm balcony if lucky, else would be partially blocked by bedrm 3 of type C1. If the residents of stack 8 or 13 grow some tall plants in in the balcony to avoid pple staring into them as they sit in the balcony, Stack 1 & 20 Masterbedrm = no view at all.

6) Overall it would be a relatively congested project, as land area is approx only 125k sqft shared by 20 stacks.

7) LH99yrs

8) Another larger plot of land approx 193k sqft is already on the reserve site. Huge supply available.

In short, despite near Dakota MRT, it is a no go for me.

Gd luck to those who bought :)

You prob did not know... the whole area will be revamped... the geylang river will be part of the multi billion dolloar fresh water barrage.....

Curious
29-06-08, 08:15
Not vested.

(1) Masterplan talks of beautifying the whole Geylang to Kallang Basin. Actually, very serene I find as it is.

(2) Even properties in Bukit Timah got schools, very difficult to escape?

(4) and (5) and (6) - then choose other units in the project lor. reflection from glare... such detailed analysis.

(7) if freehold, then would price higher mah.

(8) lower plot ratio hor. Better still, the whole stretch become private residential area.

Every project got good and bad, to me, proximity to city and MRT are the biggest plus points. Others, depending on individuals, close to hdb amenities and schools are must.

Whatever, the whole project now 80% sold.

80% sold of the 300 plus units?

JR1
29-06-08, 10:07
80% sold of the 300 plus units?
Yes, my agent told me too, today probably up to 90%. Yippee to those who have the FORESIGHT. previous army camp rumoured to be developed intoo a shopping mall like parkway parade.

Unregistered3
29-06-08, 10:11
Anyone has any idea if the developer has increased price since preview?

Onlooker
29-06-08, 10:14
Yes, my agent told me too, today probably up to 90%. Yippee to those who have the FORESIGHT. previous army camp rumoured to be developed intoo a shopping mall like parkway parade.


You mean the site was an army camp.... going down later....

Aiyoh... what did I miss..!!!!

Unregistered3
29-06-08, 10:25
Previously, this site was old HDB blocks...where is the army camp?

Unregistered4
29-06-08, 10:55
Previously, this site was old HDB blocks...where is the army camp?
Near dunman road.... not on the site, I think what the person mean is that that site will be developed into a mall and benefit properties in that area... but walking distance. People of the east would know the camp, no longer active but bare piece of land now. Yes, buying property is all about foresight.... there is where all the old monies are made.... buying in an area which is developed, you have to pay a premium. who does not know orchard road is better..?????

RJ
29-06-08, 11:09
http://www.businesstimes.com.sg/sub/companies/story/0,4574,285368,00.html?

Published June 27, 2008

Ho Bee's robust sales prompt more launches

By KALPANA RASHIWALA


SOME developers are riding on the pick-up in home-buying mood created by Ho Bee's Dakota Residences preview last week to launch their own projects.

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-06-27/BT_IMAGES_CRCLOVER27.jpg
Upbeat: Sim Lian Grp has sold about 100 units of the Clover By The Park condo since its Wednesday preview


Ho Bee has sold 95 units at Dakota Residences since last Friday. The average price is $976 psf. All three projects are 99-year leasehold.

I just called Far East, Dunman View still have units, TOP since 1994 (probably lease starts from 1991), asking for 1,000 psf and very funny, say Dakota mrt is near. Cannot be as near as Dakota Residence and I agree, the sports hub redevelopment makes the latter a better project and the price is OK, not cheap but not astronomically priced.

Darius
29-06-08, 11:19
Anyone has any idea if the developer has increased price since preview?

Agent says, yes by about $30 - $50 psf. Anyway, the higher floors, better facing were going above $1000 at the preview. I think the developers hoping to sell everything on average above $1000 psf since their breakeven is already $900 psf. Anyone can verify what the agent told me?

buyer88
29-06-08, 12:01
Agent says, yes by about $30 - $50 psf. Anyway, the higher floors, better facing were going above $1000 at the preview. I think the developers hoping to sell everything on average above $1000 psf since their breakeven is already $900 psf. Anyone can verify what the agent told me?

even by 30-50 psf.... still very much below citylights...also 99 LH..near lavender MRT..... which going 1200 psf

Buyer2
29-06-08, 12:51
even by 30-50 psf.... still very much below citylights...also 99 LH..near lavender MRT..... which going 1200 psf

I prefer Dakota Crescent to Lavender, tucked away behind Old Airport Road in a predominant residential area. Yes, price is reasonable as long as below $1000 psf.

idiots will buy now
29-06-08, 13:05
Prices will correct to early 2006 levels by 2010.
DC will be $600-700psf by then.

God
29-06-08, 13:24
Prices will correct to early 2006 levels by 2010.
DC will be $600-700psf by then.

If that happens... I can't imagine what S'pore economy will be.

Unregistered900
29-06-08, 13:36
I find it appalling that the govt is spending billions of dollars building artificial rivers. Anyway, doesn't mean govt pumping water everywhere will mean canal become v clean water. Haha.

As for older people (40+, 50+) buying the place. They could still be HDB upgraders. The good thing about the 50 yrs old is that firstly they bot really cheap HDB flat which could be easily sold for $300k profit, secondly, they hv substantial CPF of at least $400k (2 persons) and still hv savings of few hundred k after working for 30 years.So the price is definitely affordable for these pple. These group also usually go for devt near MRT.


You prob did not know... the whole area will be revamped... the geylang river will be part of the multi billion dolloar fresh water barrage.....

SmartIdiots
29-06-08, 14:03
If that happens... I can't imagine what S'pore economy will be.
Haha, if that happens, it will be across the board collapse.... Singapore will be down down down, even HDB, currency, cash will be devalued????

Sage111
29-06-08, 14:10
Haha, if that happens, it will be across the board collapse.... Singapore will be down down down, even HDB, currency, cash will be devalued????

The reality is that prices go up and go down but my view is that Singapore is forming a new base ie prices will go down and properties like Dakota Residences will fall in bad times but not by 30%, maybe 10%-15% to SGD900 psf and if one hold long enough, it will go up again. I do not think it will fall by 40% as suggested by a forumer. Just like prices in the early 80s, 99 leasehold going for SGD200 psf and shot up rapidly, even in the recession years, it never went down to that level===> new base. However, if it moves to another new base, some say, when casino is up, it will again be out of reach. Different school of thoughts. I think if you like the location, buy, prepared to hold and in the longer term, will not lose money. Market may come off but will move back ie do not buy with a view to trade or speculate.

Unregistered100
29-06-08, 15:00
The reality is that prices go up and go down but my view is that Singapore is forming a new base ie prices will go down and properties like Dakota Residences will fall in bad times but not by 30%, maybe 10%-15% to SGD900 psf and if one hold long enough, it will go up again. I do not think it will fall by 40% as suggested by a forumer. Just like prices in the early 80s, 99 leasehold going for SGD200 psf and shot up rapidly, even in the recession years, it never went down to that level===> new base. However, if it moves to another new base, some say, when casino is up, it will again be out of reach. Different school of thoughts. I think if you like the location, buy, prepared to hold and in the longer term, will not lose money. Market may come off but will move back ie do not buy with a view to trade or speculate.
Ya, I also think, prices will not drop by 30%. Maybe, 5% -10% and then up again.

Unregistered11
29-06-08, 15:10
Ya, I also think, prices will not drop by 30%. Maybe, 5% -10% and then up again.

agree. I believe property will hold steady... esp the mass to middle markets

MrDakota
29-06-08, 16:01
even by 30-50 psf.... still very much below citylights...also 99 LH..near lavender MRT..... which going 1200 psf

So, potential upside, is that what you are suggesting?

1975
29-06-08, 16:47
The reality is that prices go up and go down but my view is that Singapore is forming a new base ie prices will go down and properties like Dakota Residences will fall in bad times but not by 30%, maybe 10%-15% to SGD900 psf and if one hold long enough, it will go up again. I do not think it will fall by 40% as suggested by a forumer. Just like prices in the early 80s, 99 leasehold going for SGD200 psf and shot up rapidly, even in the recession years, it never went down to that level===> new base. However, if it moves to another new base, some say, when casino is up, it will again be out of reach. Different school of thoughts. I think if you like the location, buy, prepared to hold and in the longer term, will not lose money. Market may come off but will move back ie do not buy with a view to trade or speculate.
I think the same. 30% too sharp, given the response read in newspapers, how to drop by 30% in the near term?

MRT
29-06-08, 18:56
When is the Dakota MRT station ready?

EastCoaster
29-06-08, 19:05
How's sales this weekend? Anyone knows?

Abcde
29-06-08, 19:12
When is the Dakota MRT station ready?
2010 I believe.

Unregistered3
29-06-08, 21:08
Developer hasn't launch all stacks yet....so the project can't be 80% sold

RJ1
29-06-08, 21:16
Developer hasn't launch all stacks yet....so the project can't be 80% sold

Which stack not launched? Is it the best stack? Interested, going down to showflat tomorrow.

Investor88
29-06-08, 21:18
Developer hasn't launch all stacks yet....so the project can't be 80% sold


Yah... the developer has not launched all the stack... but basically all the released stacks... almost sold out except for 4 bedrooms

Was there in the evening.... super big crowd..... like those property fever days....

I believe prices will be up in the subsequent launches....

buyer88
29-06-08, 21:24
So, potential upside, is that what you are suggesting?

I thot 1050 to 1100 wld be fair value

Interested
29-06-08, 21:29
Which stack not launched? Is it the best stack? Interested, going down to showflat tomorrow.
Anyone knows? So, really 80% if launched units are fully sold? 20% are the unlaunched stacks? $1050 seem to be reasonable.

JR
30-06-08, 01:31
I thot 1050 to 1100 wld be fair value

At px of 1050 to 1100 might as well buy D15 FH, 5 min walk to Parkway, 10 min bus ride to suntec.

OR

Buy another project also LH99 in CBD going to TOP soon.

Lily
30-06-08, 07:02
At px of 1050 to 1100 might as well buy D15 FH, 5 min walk to Parkway, 10 min bus ride to suntec.

OR

Buy another project also LH99 in CBD going to TOP soon.

Isn't this project going for lesser?

Buyer88
30-06-08, 07:04
Isn't this project going for lesser?

going for around 1000 psf. High floors prob more than 1000 psf.

Lily
30-06-08, 07:21
How's sales this weekend? Anyone knows?
Any updates?

Unregistered3
30-06-08, 09:55
Which stack not launched? Is it the best stack? Interested, going down to showflat tomorrow.

The 4 stacks of 3 BDR facing river are all launched. 2 of which are fully sold. For the 4 BDR (all face the river), sales is not that robust.

I believe the developer is still holding on to stacks not facing the river...

Unregistered(dc)
30-06-08, 10:52
Dakota at high floors (18 storeys) are selling beyond $1000 psf. Has anyone look at Southbank @ Lavender. Is it a better buy compared to Dakota Residences in terms of view, proximity to MRT station, proximity to Kallang Bay Area & CBD, height of the development (Max 40 storeys), design of development (like Canary Wharf in London), address, etc? The $psf in June caveat sale was slightly over $1000. Any views?

Vikrant Pandey
30-06-08, 10:58
Property by Vikrant Pandey

Encouraging sales indicative of improving home buying sentiment
Encouraging sales at recent project launches to boost June sales. We
understand from City Development management that around 15 out of the 77
units in the recent soft launch of the Shelford Suites project near the upcoming
Botanic Gardens MRT have been sold at ASP around S$1500-1600 psf. Earlier,
according to The Business Times, Sim Lian Group has sold around 100 units at
its 99-year leasehold Clover By The Park condo last week out of the 308 units
launched at an ASP of S$750 psf. Since the launch of Dakota Residences last
Friday, Ho Bee has sold 95 units in the project at ASP of $976 psf. The sales of
the 210 units in these three projects alone will boost the Jun sales numbers.


Watch out for the upcoming launch of City Development’s Livia project.
City Developments plans to launch 200 out of 724 units in the phase 1 of its Livia
project at Pasir Ris Drive 1 this coming weekend. The units in the mass market
project are expected to be priced at around S$650 psf. The pricing is attractive
and expected to set a new benchmark of future launches in that area. The Livia
project will be the first major project launch in recent months by a large cap
developer in the mass-market segment. The sales in the project will serve as a
barometer to test the home buying sentiment and to set the tone for the
forthcoming launches for the other large cap developers.
The encouraging sales this month is expected to maintain the sales momentum
that gathered pace last month. A good sales performance next month as well
could act as a catalyst to revive the overall home buying sentiment. We maintain
our overweight call on the Singapore property developers. City Developments
(Target: S$14.05) is our top pick among large-cap stocks and Ho Bee (Target:
S$1.50) is our top pick among small/mid-cap stocks.

Y Register
30-06-08, 14:54
Dakota Close, Dakota Crescent, Old Airport Road and Jalan Enam

Then: The 17 intimate brick-clad blocks in the area were built by the Singapore Improvement Trust in 1958 and handed over to the HDB management in 1960. Some of the two- and three-room flats in the area come with breezy balconies. The cluster has an eye-catching variety of designs created out of low-cost materials, like crushed stones set in panels that line external walls.

Now: Some of the flats are let out to lower-income residents, while others are under the care of managing agents. Resident and odd-job worker Choo Yew Seng, 46, has lived there all his life. He says: 'The rooms are bigger than what you can find in new flats, and the environment here is very nice. I hope they can conserve them.'

Future: The HDB says it has no plans to redevelop the blocks, so it is safe for the immediate future.

midtier
30-06-08, 15:39
Ho Bee (BUY; S$0.92; Bloomberg HOBEESP)
Ho Bee Dangles Dakota
By: Singapore Research Team

Story: In today's BT supplement on the Master Plan 2008, Ho Bee took out an
advert that markets its 348-unit Dakota Residences for the first time. Ho
Bee is capitalising on the plans for Kallang Riverside (the advert appears
on the same page as the article discussing plans for Kallang Riverside) as
well as Paya Lebar Central that were unveiled as part of the Master Plan
2008.

Point: Kallang Riverside will be transformed into a new lifestyle district
comprising waterfront housing, hotels as well as a mix of office, retail
and entertainment uses. Paya Lebar will become a fringe centre with largely
commercial uses - office, retail and hotel. Dakota Residences is located
close to both Kallang Riverside as well as Paya Lebar Central, and will be
just next to the upcoming Dakota MRT station (part of the Circle Line). It
is also around 5 minutes' drive from the CBD. Within its landbank, this is
Ho Bee's only mid-tier property and its location has just been made more
attractive with the unveiling of the Kallang Riverside and Paya Lebar
plans.

Relevance: We understand from management that a private preview launch is on the cards and could take place around end-June. The remainder of the project will be launched in phases. Good sales for this project will be a catalyst for Ho Bee. We continue to like Ho Bee (BUY, TP S$1.24) as a valuation play, as it is currently trading below its NBV/share of around S$1.13.

Low income
30-06-08, 19:29
So this is a low-income HDB rental area for the long term? Complicated or not? But Dakota Crescent definitely is a HDB address, and unfortunately we're not allowed to include the condo name in the IC.


Dakota Close, Dakota Crescent, Old Airport Road and Jalan Enam

Then: The 17 intimate brick-clad blocks in the area were built by the Singapore Improvement Trust in 1958 and handed over to the HDB management in 1960. Some of the two- and three-room flats in the area come with breezy balconies. The cluster has an eye-catching variety of designs created out of low-cost materials, like crushed stones set in panels that line external walls.

Now: Some of the flats are let out to lower-income residents, while others are under the care of managing agents. Resident and odd-job worker Choo Yew Seng, 46, has lived there all his life. He says: 'The rooms are bigger than what you can find in new flats, and the environment here is very nice. I hope they can conserve them.'

Future: The HDB says it has no plans to redevelop the blocks, so it is safe for the immediate future.

Wow
30-06-08, 19:40
Ho Bee (BUY; S$0.92; Bloomberg HOBEESP)
Ho Bee Dangles Dakota
By: Singapore Research Team

Story: In today's BT supplement on the Master Plan 2008, Ho Bee took out an
advert that markets its 348-unit Dakota Residences for the first time. Ho
Bee is capitalising on the plans for Kallang Riverside (the advert appears
on the same page as the article discussing plans for Kallang Riverside) as
well as Paya Lebar Central that were unveiled as part of the Master Plan
2008.

Point: Kallang Riverside will be transformed into a new lifestyle district
comprising waterfront housing, hotels as well as a mix of office, retail
and entertainment uses. Paya Lebar will become a fringe centre with largely
commercial uses - office, retail and hotel. Dakota Residences is located
close to both Kallang Riverside as well as Paya Lebar Central, and will be
just next to the upcoming Dakota MRT station (part of the Circle Line). It
is also around 5 minutes' drive from the CBD. Within its landbank, this is
Ho Bee's only mid-tier property and its location has just been made more
attractive with the unveiling of the Kallang Riverside and Paya Lebar
plans.

Relevance: We understand from management that a private preview launch is on the cards and could take place around end-June. The remainder of the project will be launched in phases. Good sales for this project will be a catalyst for Ho Bee. We continue to like Ho Bee (BUY, TP S$1.24) as a valuation play, as it is currently trading below its NBV/share of around S$1.13.

Wow, that is fantastic!

Wow1
30-06-08, 19:41
The 4 stacks of 3 BDR facing river are all launched. 2 of which are fully sold. For the 4 BDR (all face the river), sales is not that robust.

I believe the developer is still holding on to stacks not facing the river...

I thought developer normally keep the best facing units...

Buyer88
30-06-08, 20:18
I thought developer normally keep the best facing units...

Those 4 bedders.... easily 1.8m to 2m.... not so easy to sell lah...

I am surprised by the strong take up of the 3 bedder.... indicating there is good demand....

Darius
30-06-08, 20:22
Those 4 bedders.... easily 1.8m to 2m.... not so easy to sell lah...

I am surprised by the strong take up of the 3 bedder.... indicating there is good demand....

I have a good feel of this project and potential for price appreciation is there..... good location. Ok pricing. So, how many units sold todate?

Obsession
30-06-08, 20:56
IMO we Singaporeans, are obsessed with new condos.

The fact is that a LH99 asking for close to 1K psf versus sub-sale projects
in East Coast and Amber Rd calling for the same or less is something to ponder and re-think.

Seriously one must think before commiting unless its for own stay and u only want this location and therefore dont mind paying the premium price but otherwise one will look back and realise the mistake in year 2010-2011.

Geylang river
30-06-08, 21:16
D14 resale properties are only fetching 600psf. Is it because everyone crazy over the Geylang river view?


IMO we Singaporeans, are obsessed with new condos.

The fact is that a LH99 asking for close to 1K psf versus sub-sale projects
in East Coast and Amber Rd calling for the same or less is something to ponder and re-think.

Seriously one must think before commiting unless its for own stay and u only want this location and therefore dont mind paying the premium price but otherwise one will look back and realise the mistake in year 2010-2011.

Cry
30-06-08, 21:45
IMO we Singaporeans, are obsessed with new condos.

The fact is that a LH99 asking for close to 1K psf versus sub-sale projects
in East Coast and Amber Rd calling for the same or less is something to ponder and re-think.

Seriously one must think before commiting unless its for own stay and u only want this location and therefore dont mind paying the premium price but otherwise one will look back and realise the mistake in year 2010-2011.
Amber Road, The Seaview, FH though is calling for $1,250psf unless you are comparing to Cote which is older, 99year but no MRT but have PP and further from CBD. So, it is between Cote or Dakota. I choose the later as that area is over-built with Rose Garden, Silversea yet to launch.

Cry1
30-06-08, 21:47
D14 resale properties are only fetching 600psf. Is it because everyone crazy over the Geylang river view?

Just like Balestier versus Novena. How to compare?

Geylang is D14
30-06-08, 22:16
Balestier is D12 while Novena is prime D11 - they are different. Dakota is D14, exactly the same district as Geylang and facing Geylang river. Why cannot compare? It's a complicated area along the same road as rental HDB. D14 is D14.


Just like Balestier versus Novena. How to compare?

Unregistered3
30-06-08, 22:23
I thought developer normally keep the best facing units...

If only preview and launch lousy units...then the wow and the crowd won't be there...where to get free publicity? Need to balance...

how different?
30-06-08, 22:35
Balestier is D12 while Novena is prime D11 - they are different. Dakota is D14, exactly the same district as Geylang and facing Geylang river. Why cannot compare? It's a complicated area along the same road as rental HDB. D14 is D14.

D12 and D11 are separated only by a 2-way road with short-time love hotels and sleazy pubs on both sides.

I don't see how they are different.

Buyer88
30-06-08, 22:43
Amber Road, The Seaview, FH though is calling for $1,250psf unless you are comparing to Cote which is older, 99year but no MRT but have PP and further from CBD. So, it is between Cote or Dakota. I choose the later as that area is over-built with Rose Garden, Silversea yet to launch.

agree fully. Dakota is better value.... Amber, Seaview, Esta area... too congested...


Cote is going between 1100 to 1300 psf now.... so Dakota is very attractively priced... considering it is at a less congested place... near dakota MRT...near town... BUT of course... Dakota does not have SEA VIEW

All have merits... SO IT IS WAT YOU WANT !!!

Buyer88
30-06-08, 22:46
D12 and D11 are separated only by a 2-way road with short-time love hotels and sleazy pubs on both sides.

I don't see how they are different.

Like Hillview and Dunearn... so near... yet price so far apart... Dakota is in a area that govt had indicated it wld be revamped.... so the upside should be there. Wonder how much silversea will be priced?????

kal
30-06-08, 22:47
dont hv seaview, save little bit in psf,nearer to town, got mrt, got big longkang/river view also can lah :)

No diff
30-06-08, 22:49
Well, that is why the district zoning is important :) And it is far fetched to say Dakota is Novena and Geylang is Balestier. Dakota crescent is a low income area, so how to compare to Novena? Or u like the place because u take MRT and like the HDB facilities? If u have such taste, why not settle for HDB there? For a lower price, u get a much bigger unit. It's a HDB address and 99LH anyway. Just food for thought - what is the upside?


D12 and D11 are separated only by a 2-way road with short-time love hotels and sleazy pubs on both sides.

I don't see how they are different.

you call that near?
30-06-08, 22:53
Like Hillview and Dunearn... so near... yet price so far apart... Dakota is in a area that govt had indicated it wld be revamped.... so the upside should be there. Wonder how much silversea will be priced?????

Hillview and Dunearn where got near each other???

There is a few square kilometres between them!

The distance from Hillview to Dunearn, I can go from Dunearn to Orchard liao.

Like that next time I can ask: Dunearn and Orchard so near, how come price so far apart?

you call that near?
30-06-08, 22:54
CORRECTION: The distance from Hillview to Dunearn, I can go from Dunearn past Orchard, past Alexandra, into Pasir Panjang liao!

Or past Orchard, into Rochor, into Kallang liao!

Dun believe? See the Singapore map lor!

JR
01-07-08, 00:57
agree fully. Dakota is better value.... Amber, Seaview, Esta area... too congested...


Cote is going between 1100 to 1300 psf now.... so Dakota is very attractively priced... considering it is at a less congested place... near dakota MRT...near town... BUT of course... Dakota does not have SEA VIEW

All have merits... SO IT IS WAT YOU WANT !!!

I dont understand one's concept of congested. Does one mean with all the HDB blocks and rental flats surrounding it is less congested? I mean max our own unit is 2k+ sqft for PH and right here we are talking as if living on landed property :)

Not sure whether u have taken a bus from Parkway to Suntec, 10 mins via ECP, comparable to Trains if not faster as don't have to go up and down stations. FH at Amber + 10 min bus ride to town + 10 min drive to IR + 10 min walk to PP + 10 min walk to Big Splash & beach + D15 > DR :)

ILoveBuses
01-07-08, 07:06
I dont understand one's concept of congested. Does one mean with all the HDB blocks and rental flats surrounding it is less congested? I mean max our own unit is 2k+ sqft for PH and right here we are talking as if living on landed property :)

Not sure whether u have taken a bus from Parkway to Suntec, 10 mins via ECP, comparable to Trains if not faster as don't have to go up and down stations. FH at Amber + 10 min bus ride to town + 10 min drive to IR + 10 min walk to PP + 10 min walk to Big Splash & beach + D15 > DR :)
What a lot of bus rides :) mmmm... does bus = low income and Dakota = low income like one forumer suggest. Of course not lah! No offence to those staying at Cote, a great project with its own pluses.

SueEllen
01-07-08, 07:18
agree fully. Dakota is better value.... Amber, Seaview, Esta area... too congested...


Cote is going between 1100 to 1300 psf now.... so Dakota is very attractively priced... considering it is at a less congested place... near dakota MRT...near town... BUT of course... Dakota does not have SEA VIEW

All have merits... SO IT IS WAT YOU WANT !!!

Yalor, can agree to disagree. Those who buy Dakota Crescent sees POTENTIAL and not low income area :) that is the beauty, foresight.

GoodforPresident
01-07-08, 07:26
Is it true that our beloved President stays in District 14?

Hope
01-07-08, 08:52
I only hope govt wakes up to tear down the SIT flats...a sore thumb there in the future

hopefully
01-07-08, 09:23
I only hope govt wakes up to tear down the SIT flats...a sore thumb there in the future

can someone write to URA??

Unregistered3
01-07-08, 10:05
Anyone who has seen Kovan Residences? Any views on the project and its pricing?

They are near
01-07-08, 10:22
Hillview to Dunearn is only around 3km. Hillview-Upper Bukit Timah-Dunearn. How can Dunearn to Bukit timah to Orchard to Rocher to Alexandra to Pasir Panjang be 3km? I drive to Rail Mall for dinner some times from 6th Ave and it takes me 5 min via Upper Bukit timah. Everywhere in SG is quite near. The reality is district zoning makes a difference in the pricing. But if you do not mind the district zoning, which is artificial demarkation, then you're right to say Novena is no different from Balestier, but well, unfortunately, some people do care. Interesting part is, nowdays our address no longer reflect the old districts - so it only makes difference in classifieds :)

CORRECTION: The distance from Hillview to Dunearn, I can go from Dunearn past Orchard, past Alexandra, into Pasir Panjang liao!

Or past Orchard, into Rochor, into Kallang liao!

Dun believe? See the Singapore map lor!

Old HDB
01-07-08, 10:28
Hope not. The rental flats are part of SG history and should be preserved. We shouldn't tear down everything. The rental flats hv more architectural merits that Dakota, which is the usual boring glass box. The eye sore is Dakota, not the HDB - which should be conserved.


I only hope govt wakes up to tear down the SIT flats...a sore thumb there in the future

Unregistered3
01-07-08, 14:04
Hope not. The rental flats are part of SG history and should be preserved. We shouldn't tear down everything. The rental flats hv more architectural merits that Dakota, which is the usual boring glass box. The eye sore is Dakota, not the HDB - which should be conserved.

It may be a matter of time these HDBs make way...afterall, more famous landmarks have already been torn down...

Unregistered3
01-07-08, 16:05
I have a good feel of this project and potential for price appreciation is there..... good location. Ok pricing. So, how many units sold todate?

Based on "My Paper" today, another 60 units sold in the 2nd weekend...total units sold ard 140.

Think not easy for the developer to sell the remaining units...

Poor Address
01-07-08, 16:54
That is true. Cannot put "Dakota Residence" into the IC.


What private add you talking about? Your IC and official docs will not show "Dakota Residences" but instead will show "Blk xx, Dakata Crescent, #xx-xx, Singapore xxxxxx"

same as any HDB there!

40% sold
01-07-08, 16:57
So 40% sold. 3rd weekend will be worse as people run to even newer launches. But from the looks from this forum, people here seem v excited about this development being near HDB amenities - comfort zone for many. So may sell better than others bah.


Based on "My Paper" today, another 60 units sold in the 2nd weekend...total units sold ard 140.

Think not easy for the developer to sell the remaining units...

u goondu
01-07-08, 17:13
Is it true that our beloved President stays in District 14?

our president stays in biggest GCB in dhoby ghaut lah. goondu.

Unregistered3
01-07-08, 17:56
That is true. Cannot put "Dakota Residence" into the IC.

Generally, if the last few digits of the postal codes reflects the block number, it is HDB. For pte property, the postal code doesn't reflect the block number.

registered
01-07-08, 18:01
Generally, if the last few digits of the postal codes reflects the block number, it is HDB. For pte property, the postal code doesn't reflect the block number.

That is a fact. It puzzled me why this needs to be discussed in this forum....

dakoda sucks.
01-07-08, 19:13
That is a fact. It puzzled me why this needs to be discussed in this forum....
100% many units will be thrown back to developer mark my words... After they realised that they bought shit in the midst of low class hdb area with geylang the nearest entertainment spot.

Tony Blair
01-07-08, 19:29
Your name dakoda sucks says it all.You like to suck.:ashamed1:

Chicken Hunter
01-07-08, 19:51
100% many units will be thrown back to developer mark my words... After they realised that they bought shit in the midst of low class hdb area with geylang the nearest entertainment spot.

What's wrong with being near Geylang, its best place for chicken hunting! Everynight, this place is congested with hardly a parking lot. Vibrancy is the word!

Sensible
01-07-08, 19:58
Hillview to Dunearn is only around 3km. Hillview-Upper Bukit Timah-Dunearn. How can Dunearn to Bukit timah to Orchard to Rocher to Alexandra to Pasir Panjang be 3km? I drive to Rail Mall for dinner some times from 6th Ave and it takes me 5 min via Upper Bukit timah. Everywhere in SG is quite near. The reality is district zoning makes a difference in the pricing. But if you do not mind the district zoning, which is artificial demarkation, then you're right to say Novena is no different from Balestier, but well, unfortunately, some people do care. Interesting part is, nowdays our address no longer reflect the old districts - so it only makes difference in classifieds :)
Fair comments. Totally agree. No need to talk down one project against another. Cote D'Azur has positives and Dakota Crescent has positives, just different positives. District 14 is so big, not confined to Geylang only. Yes, Spore is so "big". I have no hang-up over a "HDB address" or "low income" area or "non-prime" as long as I like the project! Buying a house is an emotional thing, so, as long as one likes it, one pays... and some may just like District 14. I like that area because I grew up there.

Never stay HDB
01-07-08, 19:59
Is that so? I never stay in HDB before. Anyway, who stares at postal code?


That is a fact. It puzzled me why this needs to be discussed in this forum....

YouAreGoondu
01-07-08, 20:05
our president stays in biggest GCB in dhoby ghaut lah. goondu.
http://www.betelbox.com/about_joochiat.htm


"Nowadays, the Joo Chiat area is a haven for food lovers and its eateries are famous all over Singapore. This area is also famous for the President of Singapore, His Excellency S.R. Nathan who lives just 5 minutes walk from the hostel; just behind Joo Chiat."

The first one who posted the question is so well informed and knowledgeable.

GoodForesight
01-07-08, 20:09
100% many units will be thrown back to developer mark my words... After they realised that they bought shit in the midst of low class hdb area with geylang the nearest entertainment spot.

I bet otherwise.

:)

Expatriate
01-07-08, 20:13
... one has to have the private property address on NRIC to "validate" one's status and to prove what....? Does it matter? And why should it matter? Mmmm.... Singaporeans are strange.

Expatriate1
01-07-08, 20:14
Is that so? I never stay in HDB before. Anyway, who stares at postal code?
Exactly......

Buyer88
01-07-08, 20:28
Exactly......

I tend to agree

Move out
01-07-08, 21:01
This is a Joo Chiat sleazy hostel website for God's sake! For course they say good things about the "vibrancy" (hehe) of nearby Joo Chiat and Geylang lah!

No wonder the President moves out. This place no longer conducive. We should look at the place as it is NOW, not its past glory 30 yrs ago.


http://www.betelbox.com/about_joochiat.htm


"Nowadays, the Joo Chiat area is a haven for food lovers and its eateries are famous all over Singapore. This area is also famous for the President of Singapore, His Excellency S.R. Nathan who lives just 5 minutes walk from the hostel; just behind Joo Chiat."

The first one who posted the question is so well informed and knowledgeable.

JooChiat
01-07-08, 21:17
This is a Joo Chiat sleazy hostel website for God's sake! For course they say good things about the "vibrancy" (hehe) of nearby Joo Chiat and Geylang lah!

No wonder the President moves out. This place no longer conducive. We should look at the place as it is NOW, not its past glory 30 yrs ago.

Nathan's house still there ie family home, still see him there sometimes, the "palace" is the President's not his, get what I mean? The next President will move in.

Sad
01-07-08, 21:18
... one has to have the private property address on NRIC to "validate" one's status and to prove what....? Does it matter? And why should it matter? Mmmm.... Singaporeans are strange.

Sad. Very sad.

Move In
01-07-08, 21:20
This is a Joo Chiat sleazy hostel website for God's sake! For course they say good things about the "vibrancy" (hehe) of nearby Joo Chiat and Geylang lah!

No wonder the President moves out. This place no longer conducive. We should look at the place as it is NOW, not its past glory 30 yrs ago.

One word: Potential. Yes, not past glory.

Unregistered9990
01-07-08, 21:45
Dakota is further away from the seedy Geylang and Joo Chiat. But potential wise, not much. At 1000psf in the current market and nearby resale at 40% lower, there's not much upside in the short term. The project TOP in 2011? If you're looking for a home or investment, you have all the time in the world. Property is unlikely to fly through the roof in the next few mths. Don't have to buy TODAY. Or can buy a resale nearby and get immediate rental yield.


One word: Potential. Yes, not past glory.

Dan
01-07-08, 21:46
Fair comments. Totally agree. No need to talk down one project against another. Cote D'Azur has positives and Dakota Crescent has positives, just different positives. District 14 is so big, not confined to Geylang only. Yes, Spore is so "big". I have no hang-up over a "HDB address" or "low income" area or "non-prime" as long as I like the project! Buying a house is an emotional thing, so, as long as one likes it, one pays... and some may just like District 14. I like that area because I grew up there.
Yalor, I like the area because so near to town and the new stadium, sports centre which have entertainment centre, retail and hotel? Do not like that it is priced beyond my reach.

Dan1
01-07-08, 21:48
Dakota is further away from the seedy Geylang and Joo Chiat. But potential wise, not much. At 1000psf in the current market and nearby resale at 40% lower, there's not much upside in the short term. The project TOP in 2011? If you're looking for a home or investment, you have all the time in the world. Property is unlikely to fly through the roof in the next few mths. Don't have to buy TODAY. Or can buy a resale nearby and get immediate rental yield.
Where 40% lower? Serious buyer. Lover of Dakota Residences but no $$$.

Unregistered01
01-07-08, 22:06
Where 40% lower? Serious buyer. Lover of Dakota Residences but no $$$.
Nearest: Dunman Heights? Fortune Jade? Both > SGD900psf.

Unregistered02
01-07-08, 22:08
Nearest: Dunman Heights? Fortune Jade? Both > SGD900psf.
Sorry, Dunman View, about $900 psf.

TK
01-07-08, 22:13
Telok Kurau resale? $600-$700psf.


Sorry, Dunman View, about $900 psf.

Try URA
01-07-08, 22:15
Go to URA or nationproperty website and search transaction by D13,D14 and D15. You'll find many transacted at $700psf for resale.


Where 40% lower? Serious buyer. Lover of Dakota Residences but no $$$.

Buyer111
01-07-08, 22:18
Go to URA or nationproperty website and search transaction by D13,D14 and D15. You'll find many transacted at $700psf for resale.
Not Telok Kurau, but along Old Airport Road, Dunman Road, Dakota Crescent... I am searching along this stretch. Let me know. Serious buyer.

Best
01-07-08, 22:27
Not sure where u draw the imaginary line - D14 issit? So you gotta search yourself. Dunman View 700+psf latest transaction. I'm just trying to say Dakota may not be best value.


Not Telok Kurau, but along Old Airport Road, Dunman Road, Dakota Crescent... I am searching along this stretch. Let me know. Serious buyer.

Buyer112
01-07-08, 22:30
Not sure where u draw the imaginary line - D14 issit? So you gotta search yourself. Dunman View 700+psf latest transaction. I'm just trying to say Dakota may not be best value.
Okay, guess because of the "new" factor and the proximity to MRT, that is why a premium. I check Dunman View's caveats lodged, still high $800 leh :(

toaler
01-07-08, 22:44
Okay, guess because of the "new" factor and the proximity to MRT, that is why a premium. I check Dunman View's caveats lodged, still high $800 leh :(

hmm seriously this condo would be worth only $600psf less than 2 years ago.. cant imagine why everyone is rushing is jump onto the bandwagon that is obviously going down the slope in the next couple of years

1st quarter rise was 3+% and 2nd was 0.4%.. it's a well known fact that a decline is usually preceded by ZERO growth. the factors causing this plateau will soon force the market into a minor correction. i am quite surprised at this drastic halt to the bullish property market but as consumers, we should be pushing hard for this correction and not fuel this nonsensical peak in property prices by gobbling up whatever the developer throws at us..

i am not talking about a big major correction back to the doldrums of 2004 but at least prices should match that of the population's financial abilities to pay for private residences..

$950-1000psf for a 99 year condo is a bit too high for my liking.. :eek:

Dollars&Cents
01-07-08, 22:52
hmm seriously this condo would be worth only $600psf less than 2 years ago.. cant imagine why everyone is rushing is jump onto the bandwagon that is obviously going down the slope in the next couple of years

1st quarter rise was 3+% and 2nd was 0.4%.. it's a well known fact that a decline is usually preceded by ZERO growth. the factors causing this plateau will soon force the market into a minor correction. i am quite surprised at this drastic halt to the bullish property market but as consumers, we should be pushing hard for this correction and not fuel this nonsensical peak in property prices by gobbling up whatever the developer throws at us..

i am not talking about a big major correction back to the doldrums of 2004 but at least prices should match that of the population's financial abilities to pay for private residences..

$950-1000psf for a 99 year condo is a bit too high for my liking.. :eek:

Let's see what the 99-year Silversea will be priced..... my take is that the correction for non-luxury segment will be 5%-10% but some may argue that this project is already down from the earlier expected $1100-1200 announced by the developer a year ago... of course, if compared to 2004/2005, this project will be expensive. Oh, well.. no one knows really.

Darius
01-07-08, 22:58
Let's see what the 99-year Silversea will be priced..... my take is that the correction for non-luxury segment will be 5%-10% but some may argue that this project is already down from the earlier expected $1100-1200 announced by the developer a year ago... of course, if compared to 2004/2005, this project will be expensive. Oh, well.. no one knows really.

Dakota is priced along with the 99-year Water Place and Sanctuary Green, the latter boast seaview and Dakota, city closeness and MRT? At the peak, those 2 projects breached $1300 psf! Shocking.

SueEllen
02-07-08, 06:02
Dakota is priced along with the 99-year Water Place and Sanctuary Green, the latter boast seaview and Dakota, city closeness and MRT? At the peak, those 2 projects breached $1300 psf! Shocking.
How old are those Tanjong Rhu projects?

Tan Jong Rue
02-07-08, 06:56
How old are those Tanjong Rhu projects?
It is just like speculators driving up oil price. Really worth maybe 70$ but now over 140$. Just like that those projects worth 600$. Once bubble bursts oil will flow and for condos here blood will flow once flippers get knocked down. Simple.

Peak
02-07-08, 07:00
Today's ST Money page, property prices peaked.

ohh my my
02-07-08, 09:04
Today's ST Money page, property prices peaked.
it actually fell if u consider inflation.

123
02-07-08, 15:41
Sonia Kolesnikov-Jessop

After two years of exuberance, activity in the private housing market in Singapore has slowed to a near standstill. The number of new property sales, measured on a monthly basis, contracted 64.9 percent in April, as buyers became more cautious and took a wait-and-see attitude. As a result, several well-publicized launches have been put on the backburner for an indefinite period and some developers have started to drop asking prices, for example at The Lakeshore in Jurong West and Blu Coral in Telok Kurau.

An air of doom and gloom has settled over Singapore’s residential property market and vultures are circling, proclaiming the Singapore residential property market is about to collapse by 30-40 percent, but are they interpreting the facts correctly? Not all experts agree, with some calling the current market downturn more of a short-term blip rather than the beginning of a market collapse.

“The slowing of the property market is a natural development after prices skyrocketed on the back of very strong demand,” says Sherman Chan, an economist at Moody’s Economy.com, “but a 30-40 percent collapse is highly unlikely. The construction sector is an important growth driver for Singapore and I don’t think the government would let it collapse as there would be wider ramifications. Let’s not forget that the government imposed some measures last year to cool down the market and these measures could very well be lifted if need be.”

In recent weeks, several bearish reports have forecast a dramatic plunge in home values over the next two years. Barclays Capital believes private home prices could slide 28-30 percent by 2010, while Credit Suisse predicted a price decline of 30 percent in 2008-2009.

The bears are pointing to several factors suggesting the writing is on the wall. The stock of unsold condominiums (as measured by projects that have been issued a sales license) rose to 10,861 units in the first quarter of this year, 34 percent higher than the quarterly average in 2007 and back up to levels not seen since June 2005. Net CPF withdrawals for private property have turned negative for the first time, reflecting the decline in transaction as well as profit taking by local buyers who own more than one property. “This has never happened before, not even during the 1998 Asian Financial Crisis,” notes Barclay Capital economist Waiho Leong. And vacancy rates in non-landed property developments have also risen in recent months toward 6.3 percent, compared with 5.6 percent in the last quarter of 2007. Credit Suisse, in its recent report, argues that this will rise further to 9.8-19 percent, on a base and worst case scenario. This could in turn trigger a sharp fall in rentals further weakening the market. “The last time vacancies shot up from 5.8 percent to 9.7 percent, rentals fell by 41percent,” Credit Suisse Tricia Song wrote referring to the year 1996.

Casting long shadows on the markets are the estimated 66,000 home units expected to be completed between 2009-2012, as well as the possible unwinding of speculative purchases. Unless many of the developments that are currently in the pipeline are postponed, a cumulative surplus could provide a glut that will be felt most acutely in 2010, Leong warned.

The bears also argue that given the current thin sales environment, the small price growth recorded by the URA indices do not reflect sentiment and can easily be biased by a few high-end sales. A better gauge of sentiment is land prices and developers’ waning appetite for recent URA auctions, they say. In May, a 99-year residential leasehold site in Choa Chu Kang Drive attracted a top bid of only $203 per square foot per plot ratio, well below the $230-$270 psf ppr range the market had expected.

But not everybody agrees. “I think bad interpretation of data is causing the string of bad news,” says Ku Swee Yong, Director, Savills Residential Private Limited.

Ku points out that the supply figures touted by some analysts bundle together planned, under construction and complete unit numbers. “The reality is that any apartments expected to complete in 2010 but still not under construction today, is unlikely to be completed on time given that the average construction period for a 20 storey apartment block takes 24 months from foundation works till handover” Ku remarks.

“The construction sector is tight on resources today and unless there are policy changes given to encourage faster pace of construction, the ‘oversupply scenario’ is not a realistic one,” he adds.

Tay Huey Ying, Director for Research and Consultancy at Colliers, agrees, pointing out that although the supply pipeline appears a “bit on the high side,” once delays and abandonment of project developments are taken into account, “the new supply will be much lower than expected.”

Leonard Tay, director, CBRE Research also points out that many of the units will be taken out by either en-bloc sellers who need to relocate, or new expatriates moving here. “There is a lack of activity in the market, but property prices have been holding. I believe there are still a lot of buyers in the market with ready cash; they’re just waiting for what’s next,” Tay says, forecasting that the luxury end of the market may “dip just a bit” this year, but prices should hold for now.

As for the units bought under the deferred payment scheme that some say will be “dumped” in the market as the construction is completed, Ku says their number is probably limited to around 2,900, 10 percent of the 29,000 units that URA has given approval for sale under Deferment Payment Scheme. “Not that much to worry about,” he says.

Many property consultants are pointing to the long-term prospects for the Singapore property market supported by the positive vibe stemming from the Integrated Resorts and events such as the F1 race and the 2010 Youth Olympics.

“I think the Singapore property market is still pretty strong. We could see a mild correction, but I don’t see that as a concern because the government is still trying to attract expatriates to work here and they will contribute to demand for properties,” Chan says.

Tay also points out that given the anticipated continuing influx of foreigners, the 15-year historical average number of 7,000 new units needed a year is likely to increase to 8,000 to even 10,000 units.

“So I don’t foresee an oversupply situation as yet. I don’t think the sky is about to fall in,” she says.

Unregistered999
02-07-08, 16:13
Today's ST Money page, property prices peaked.

don't take news reports as gospel.

Property Supporter
02-07-08, 16:27
hmm seriously this condo would be worth only $600psf less than 2 years ago.. cant imagine why everyone is rushing is jump onto the bandwagon that is obviously going down the slope in the next couple of years

1st quarter rise was 3+% and 2nd was 0.4%.. it's a well known fact that a decline is usually preceded by ZERO growth. the factors causing this plateau will soon force the market into a minor correction. i am quite surprised at this drastic halt to the bullish property market but as consumers, we should be pushing hard for this correction and not fuel this nonsensical peak in property prices by gobbling up whatever the developer throws at us..

i am not talking about a big major correction back to the doldrums of 2004 but at least prices should match that of the population's financial abilities to pay for private residences..

$950-1000psf for a 99 year condo is a bit too high for my liking.. :eek:

It goes to show hearsay about prices going down is absolutely Rubbish!!! Whether you like it or not, you will probably feel frustrated and disappointed for each condo hunting as newly launch prices will not go down to 500psf or even 600psf for reasonably good location for both mid tier/mass market.

Property
02-07-08, 17:27
It goes to show hearsay about prices going down is absolutely Rubbish!!! Whether you like it or not, you will probably feel frustrated and disappointed for each condo hunting as newly launch prices will not go down to 500psf or even 600psf for reasonably good location for both mid tier/mass market.

Dream on if anyone still thinks we can go back to $500 or $600 psf. We complaint today the prices are high but wait for another 3 years and we may well complaint that the prices then at $1,300 is high when 3 years ago (that is now), it was only $900 to $1000.

CarrieUnderwood
02-07-08, 22:22
Dream on if anyone still thinks we can go back to $500 or $600 psf. We complaint today the prices are high but wait for another 3 years and we may well complaint that the prices then at $1,300 is high when 3 years ago (that is now), it was only $900 to $1000.
I hope you are right. Committed to a unit at Dakota Residences.

Go prime
02-07-08, 22:47
Why did you buy now? This thing TOP in 2012? It will take like 5 years before you can move in. Since you're in no hurry to move in and there is no indication at all that property will move up in a BIG way, and so many new launches, you will be spoilt for choice! I can understand if people need a place desperately and need to buy a completed unit, but to rush in for a new launch today which is only ready 5 yrs later is just not wise. U don't even get rental yield to shield any possible downside movement. If u desperately need a place, just buy a new launch. BTW, go read the DTZ report. The median price of 99LH in prime D9,10,11 is only $900+psf while FH is $1400psf. So at $1000psf for dakota and 99 yrs, why not go to the prime districts? The FH is prime districts are quite out of reach but FH always fetch a premium.


I hope you are right. Committed to a unit at Dakota Residences.

CarrieUnderwood
02-07-08, 23:00
Why did you buy now? This thing TOP in 2012? It will take like 5 years before you can move in. Since you're in no hurry to move in and there is no indication at all that property will move up in a BIG way, and so many new launches, you will be spoilt for choice! I can understand if people need a place desperately and need to buy a completed unit, but to rush in for a new launch today which is only ready 5 yrs later is just not wise. U don't even get rental yield to shield any possible downside movement. If u desperately need a place, just buy a new launch. BTW, go read the DTZ report. The median price of 99LH in prime D9,10,11 is only $900+psf while FH is $1400psf. So at $1000psf for dakota and 99 yrs, why not go to the prime districts? The FH is prime districts are quite out of reach but FH always fetch a premium.
Simply because I like the project :)

TOP is 2010, 2012 is the legal TOP date, construction in Singapore seldom drags for 5 years.

toaler
02-07-08, 23:13
It goes to show hearsay about prices going down is absolutely Rubbish!!! Whether you like it or not, you will probably feel frustrated and disappointed for each condo hunting as newly launch prices will not go down to 500psf or even 600psf for reasonably good location for both mid tier/mass market.

everyone was saying this too when the prices last peak in 1996 .. but prices still tumbled..

it takes a genius to tell whether history will repeat itself for this peak or should we hang on to the belief that singapore is undergoing this change into an upmarket property haven? this belief was the driving force behind the queues outside the Sail when it was launched at 1k psf, the enbloc frenzy in 2007 with developers snapping up lands at whatever ridiculous prices the owners set. but somehow i feel that the recent halt to this frenzy and the desperate leasing back of the enbloc estates back to the owners both point to a fundamental flaw in this belief: there just isn't enough equity to prop up the prices at this current level. even the oil rich Kuawaitis who are reaping in the billions from the sky high oil prices are having second thoughts about putting their surplus money into our property market (ie. the Goodwood residences issue).

Congrats!
02-07-08, 23:22
You like the showflat. You haven't seen the real thing :)

Anyway, happy can already. Buy already anyway. Congrats!

For those who haven't committed, good to look around more. The prime areas might be more worthwhile. I think many Singaporeans don't even bother to look at resale and just chiong the showflat. At this price and a 99LH poor cousin, you might want to consider the prime 99LH prime condos @910psf. See http://forums.condosingapore.com/showthread.php?t=3200 . It's interesting that the FH condos capital values are appreciating much faster than the LH, esp in prime districts. I guess it's because the rich are more into wealth preservation for future generations and prestige of FH. The spread between FH condo and LH condo in prime district is >40%! I think this trend will flow to suburbs as well as people accumulates wealth and start to seriously consider estate planning and FH becomes really really rare.


Simply because I like the project :)

TOP is 2010, 2012 is the legal TOP date, construction in Singapore seldom drags for 5 years.

Unreg¡stered
03-07-08, 00:40
Sonia Kolesnikov-Jessop

.............

“I think bad interpretation of data is causing the string of bad news,” says Ku Swee Yong, Director, Savills Residential Private Limited.

Ku points out that the supply figures touted by some analysts bundle together planned, under construction and complete unit numbers. “The reality is that any apartments expected to complete in 2010 but still not under construction today, is unlikely to be completed on time given that the average construction period for a 20 storey apartment block takes 24 months from foundation works till handover” Ku remarks.

“The construction sector is tight on resources today and unless there are policy changes given to encourage faster pace of construction, the ‘oversupply scenario’ is not a realistic one,” he adds.

Tay Huey Ying, Director for Research and Consultancy at Colliers, agrees, pointing out that although the supply pipeline appears a “bit on the high side,” once delays and abandonment of project developments are taken into account, “the new supply will be much lower than expected.”

Leonard Tay, director, CBRE Research also points out that many of the units will be taken out by either en-bloc sellers who need to relocate, or new expatriates moving here. “There is a lack of activity in the market, but property prices have been holding. I believe there are still a lot of buyers in the market with ready cash; they’re just waiting for what’s next,” Tay says, forecasting that the luxury end of the market may “dip just a bit” this year, but prices should hold for now.

As for the units bought under the deferred payment scheme that some say will be “dumped” in the market as the construction is completed, Ku says their number is probably limited to around 2,900, 10% of the 29,000 units that URA has given approval for sale under Deferment Payment Scheme. “Not that much to worry about,” he says.

Many property consultants are pointing to the long-term prospects for the Singapore property market supported by the positive vibe stemming from the Integrated Resorts and events such as the F1 race and the 2010 Youth Olympics.

“I think the Singapore property market is still pretty strong. We could see a mild correction, but I don’t see that as a concern because the government is still trying to attract expatriates to work here and they will contribute to demand for properties,” Chan says.

Tay also points out that given the anticipated continuing influx of foreigners, the 15-year historical average number of 7,000 new units needed a year is likely to increase to 8,000 to even 10,000 units.

“So I don’t foresee an oversupply situation as yet. I don’t think the sky is about to fall in,” she says.
Is there a need to post this piece of news everywhere?

you are a fool
03-07-08, 01:07
I hope you are right. Committed to a unit at Dakota Residences.
Hahaha, you will lose your 1%, guarenteed. If not, you will lose 30-50% in 2 years time.

geylang
03-07-08, 01:50
As a horny caucasion, i would love to live in a 2 bedroom unit in dakoda. Have great proximity to the greatest entertainment spot in singapore!
Always close but never closed.

RJ
03-07-08, 06:00
Simply because I like the project :)

TOP is 2010, 2012 is the legal TOP date, construction in Singapore seldom drags for 5 years.
Buying a property is an emotional thing, if you like it good. Judging from what you ay, guess you are a long=term roperty holder, if fall, it will come back up again. Only paper loss and gain, so does not matter. Enjoy your new property (though a few more years to go) :)

RJ
03-07-08, 06:03
everyone was saying this too when the prices last peak in 1996 .. but prices still tumbled..

it takes a genius to tell whether history will repeat itself for this peak or should we hang on to the belief that singapore is undergoing this change into an upmarket property haven? this belief was the driving force behind the queues outside the Sail when it was launched at 1k psf, the enbloc frenzy in 2007 with developers snapping up lands at whatever ridiculous prices the owners set. but somehow i feel that the recent halt to this frenzy and the desperate leasing back of the enbloc estates back to the owners both point to a fundamental flaw in this belief: there just isn't enough equity to prop up the prices at this current level. even the oil rich Kuawaitis who are reaping in the billions from the sky high oil prices are having second thoughts about putting their surplus money into our property market (ie. the Goodwood residences issue).
The prices have been driven up by the luxury and super luxury segment? This project is not that category........

One
03-07-08, 07:04
The prices have been driven up by the luxury and super luxury segment? This project is not that category........

Any price consolidation will come from the main benefactor of the run up last year and the mass or city fringe, whilst did go up, not as much, will be more resilient. This project is less than $1000 for most units and so should be resilient.... and as the benefit of being new.

Property Supporter
03-07-08, 08:56
everyone was saying this too when the prices last peak in 1996 .. but prices still tumbled..

it takes a genius to tell whether history will repeat itself for this peak or should we hang on to the belief that singapore is undergoing this change into an upmarket property haven? this belief was the driving force behind the queues outside the Sail when it was launched at 1k psf, the enbloc frenzy in 2007 with developers snapping up lands at whatever ridiculous prices the owners set. but somehow i feel that the recent halt to this frenzy and the desperate leasing back of the enbloc estates back to the owners both point to a fundamental flaw in this belief: there just isn't enough equity to prop up the prices at this current level. even the oil rich Kuawaitis who are reaping in the billions from the sky high oil prices are having second thoughts about putting their surplus money into our property market (ie. the Goodwood residences issue).

Yes, I agree with you but it will probably take a terrible recession to tumble our property prices to historic low (I mean 500 to 600psf) which most govt will try to avoid, particularly Singapore. And it will be very unfortunate for S'pore if this happen so soon when we have put in place couple of growth initiatives a few years back and waiting to reap the fruits starting Sept 08.

I am still of the opinion that the current slowdown will probably be temporary as we need to remember the fundamentals, ie S'pore is a very very small country with limited land space and we must accept the fact that properties are not going to be cheap and will continue to go up and up bearing any unforseen circumstances.

frontosa
03-07-08, 09:15
It will either take a SARS or 911 to have a huge impact on us, not just us but the whole world economy will be drastically be affected.

ggd
03-07-08, 19:10
Is prices from Nationproperty.sg real ???
Seems to quote a very low price all the time. eg Newton Suites at ~850psf ????? When I get agent to check on the project, they come back to me at best bargain ~1500psf !!! I really wonder if this site data are trustworthy ?

RJ
03-07-08, 19:27
Is prices from Nationproperty.sg real ???
Seems to quote a very low price all the time. eg Newton Suites at ~850psf ????? When I get agent to check on the project, they come back to me at best bargain ~1500psf !!! I really wonder if this site data are trustworthy ?
Exactly. Typical - advertise low, show interest, high. Anyway, what is the latest sale status of this projecr?

Buyer88
03-07-08, 20:31
Exactly. Typical - advertise low, show interest, high. Anyway, what is the latest sale status of this projecr?

Believe they have sold off 100% of Phase 1

For real
03-07-08, 21:23
Barring human typo error, should be for real. But for just TOP projects, sometimes it reflects initial price instead of subsale price. Nationproperty is usually faster in updating the transactions and usually the same transaction will appear in URA 2-3 weeks later.


Is prices from Nationproperty.sg real ???
Seems to quote a very low price all the time. eg Newton Suites at ~850psf ????? When I get agent to check on the project, they come back to me at best bargain ~1500psf !!! I really wonder if this site data are trustworthy ?

XYZ
03-07-08, 21:27
Believe they have sold off 100% of Phase 1
That is very strong sales!

Unregistered10
03-07-08, 22:11
That is very strong sales!


WOW!!! solid!!!!

St michael
03-07-08, 22:14
hahaha, new launch at St michael Rd from 600psf, 999yr leasehold. Dakoda buyers are fxxking screwed now!!!!!!!!!!!

Kovan
03-07-08, 22:21
hahaha, new launch at St michael Rd from 600psf, 999yr leasehold. Dakoda buyers are fxxking screwed now!!!!!!!!!!!
Haha.... look at the other thread, new launch at Kovan this weekend, 500+ units, 99-year, minimum $900psf, makes Dakota Residences a steal!

ggd
03-07-08, 22:25
Barring human typo error, should be for real. But for just TOP projects, sometimes it reflects initial price instead of subsale price. Nationproperty is usually faster in updating the transactions and usually the same transaction will appear in URA 2-3 weeks later.
http://forums.condosingapore.com/c:/Newton Suites price3.jpg
Don't think it is typo .... so many units???

Passerby
04-07-08, 22:24
Believe they have sold off 100% of Phase 1

CDL opens Livia condo at Pasir Ris for preview
Initial units are priced at $650 psf on average; Kovan Residences launched

By KALPANA RASHIWALA

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CITY Developments Ltd (CDL) has begun to preview its much-awaited Livia condo at Pasir Ris at an average price of about $650 psf for the initial batch of units, BT understands.

And next to Kovan MRT Station, the 512-unit Kovan Residences is being soft launched today and the average price is said to be $870 psf. Both projects are 99-year leasehold.

Market watchers reckon that the $650 psf average pricing for the initial phase of Livia's marketing effort is about 10 per cent lower than what the developer could have fetched 12 months ago. 'It might have been priced at $730-750 psf last year,' an industry observer suggested. The 724-unit condo is being developed at Pasir Ris Drive 1 on a plot that is part of the group's historical Pasir Ris landbank acquired decades ago.

CDL is developing Livia jointly with Hong Leong Holdings and Hong Realty. All three companies are part of Singapore's Hong Leong Group. Livia will have a total of 10 blocks, either 15 or 16 storeys high with units ranging from two-bedroom apartments to four bedders. There are also 12 penthouses.






Next to Kovan MRT Station, Centurion Kovan, controlled by UOB-Kay Hian stockbroker pair Han Seng Juan and David Loh Kim Kang, has been testing the waters for its 512-unit Kovan Residences. The average price is believed to be around $870 psf and industry talk is that some 20 cheques were offered to the developer after a well-attended dinner preview for Messrs Han's and Loh's stockbroking community contacts last Saturday. It is not known if options have been issued.

'Perhaps some of the potential buyers may have found the developer's proposed price a little challenging and made their counter offers with cheques,' a market watcher suggested.

Kovan Residences' soft launch begins today, BT understands. Officials from Centurion Kovan, part of the Duchess Development group, have not been returning BT's calls over the past few days.

Meanwhile, the project that started the current home buying wave, Ho Bee's 99-year leasehold Dakota Residences, is said to have sold 150 units since sales began a fortnight ago.

vino
05-07-08, 00:13
Yes, I agree with you but it will probably take a terrible recession to tumble our property prices to historic low (I mean 500 to 600psf) which most govt will try to avoid, particularly Singapore. And it will be very unfortunate for S'pore if this happen so soon when we have put in place couple of growth initiatives a few years back and waiting to reap the fruits starting Sept 08.

I am still of the opinion that the current slowdown will probably be temporary as we need to remember the fundamentals, ie S'pore is a very very small country with limited land space and we must accept the fact that properties are not going to be cheap and will continue to go up and up bearing any unforseen circumstances.

You do have a valid point but on the flip side, Singapore being an open economy will expose itself to the global market sentiment easily. If the global scene is ugly now, which I believed not many would disagree, then how can local property market price continue to rally up liked many bulls would want it to be?

haha
05-07-08, 02:26
hahaha, new launch at St michael Rd from 600psf, 999yr leasehold. Dakoda buyers are fxxking screwed now!!!!!!!!!!!

Jessie
05-07-08, 07:09
You do have a valid point but on the flip side, Singapore being an open economy will expose itself to the global market sentiment easily. If the global scene is ugly now, which I believed not many would disagree, then how can local property market price continue to rally up liked many bulls would want it to be?

Depending on whether you are a speculator or a investor, whether own stay or investment. Over a longer term, properties in Singapore will be OK, there may be short term correction (even 1-2 years) but in the long run, properties always come back stronger than before.

Buyer88
05-07-08, 08:33
Depending on whether you are a speculator or a investor, whether own stay or investment. Over a longer term, properties in Singapore will be OK, there may be short term correction (even 1-2 years) but in the long run, properties always come back stronger than before.

Agree.

Look at today ST.... the property market, on the contrary is heating up. Property is a good bet against inflation...

Darius
05-07-08, 09:53
Agree.

Look at today ST.... the property market, on the contrary is heating up. Property is a good bet against inflation...

The reality is that Singapore will change with the govt"s plans to push up population base, there is that much space in Singapore and properties in the city fringe, city living will be more of a norm espeacially for the expatriates and foreigners. There will be support in the longer term, do not think the property market will crash.

Shopper
05-07-08, 10:00
Are all the stacks open for sale? if sold 150 over a fortnight, they have to open the remaining stacks this weekend? Anyone knows? If Kovan and Waterfront Waves priced more than $850 psf, $100 more psf for this project seems reasonable.

PoorMan
05-07-08, 10:13
Agree.

Look at today ST.... the property market, on the contrary is heating up. Property is a good bet against inflation...
Are stocks and properties an inflation hedge?


THE Manpower Ministry’s labour market report for the first quarter reveals that employees in manufacturing, transport and administrative jobs saw their real wages shrink, compared with the same period last year. Their pay increases did not quite match the 6.6 per cent inflation rate. On average, real earnings grew 3.6 per cent compared to the same three-month period last year. However, with annual inflation forecast at 6 per cent this year, a labour economist says it is a matter of time before real earnings dip for workers in other sectors.

This, of course, is not good news for working adults who, in addition to having to meet their current financial obligations, also have to save and plan for their children’s education as well as their own retirement. With neither pay rises nor bank deposit rates adequate to cover inflation, and with the financial and property markets still fraught with uncertainties, there would appear to be few safe investment options.

In normal circumstances, most people would want to maximise returns. However, in the current climate, many may want to change their risk preferences. Instead of maximising returns, the preferred objective may be to minimise risk.

Even so, it is worth remembering that over the long term, equities and properties are the best hedge against inflation. Between 1975 and 2007, the Consumer Price Index (CPI) in Singapore rose 187 per cent. The Straits Times Index (as calculated by Thomson Financial Datastream) climbed 1,159 per cent, while the Urban Redevelopment Authority’s property price index increased 1,334 per cent. Over the same 32-year period, Singapore’s gross domestic product expanded 914 per cent.

However, the key phrase to note here is ‘over the long term’.

Of course, in the case of equities and properties, which are prone to big swings in prices, the returns one gets will depend a lot on one’s entry level. Investors entering at the wrong point in the cycle would be in for a rough ride. Out of the 28 rolling five-year holding periods in the last 32 years, the STI’s returns lagged the CPI in eight of those periods. Property prices rose less than general prices in 10 periods. But if the holding period is increased to 10 years, stocks failed to keep up with inflation in only three out of the 23 rolling ten-year periods between 1975 and 2007. For property, it was four. But for holding periods of 15 years and above, both properties and equities comfortably beat inflation for all the holding periods. Moreover, returns on properties exceeded those on equities.

So for any investor who takes the long view - that is, 15 years or more - current market conditions should not be a deterrent to meeting long-term financial goals.

Source : Business Times - 18 Jun 2008

RJ
05-07-08, 16:15
Are all the stacks open for sale? if sold 150 over a fortnight, they have to open the remaining stacks this weekend? Anyone knows? If Kovan and Waterfront Waves priced more than $850 psf, $100 more psf for this project seems reasonable.
Apparently, no new stacks this weekend. Strange. Why hold back??

st micheal
05-07-08, 16:44
Because hahaha, new launch at St michael Rd from 600psf, 999yr leasehold. Dakoda buyers are fxxking screwed now!!!!!!!!!!!

PM
05-07-08, 16:54
Are all the stacks open for sale? if sold 150 over a fortnight, they have to open the remaining stacks this weekend? Anyone knows? If Kovan and Waterfront Waves priced more than $850 psf, $100 more psf for this project seems reasonable.

For the location and MRT access, pricing looks decent. Next phase likely to move up by $30-$50 psf.

Kovan
05-07-08, 17:00
Because hahaha, new launch at St michael Rd from 600psf, 999yr leasehold. Dakoda buyers are fxxking screwed now!!!!!!!!!!!
Haha.... look at the other thread, new launch at Kovan this weekend, 500+ units, 99-year, minimum $900psf, makes Dakota Residences a steal!

RJ
05-07-08, 17:02
Haha.... look at the other thread, new launch at Kovan this weekend, 500+ units, 99-year, minimum $900psf, makes Dakota Residences a steal!
That is what I mean.

Oldman
05-07-08, 17:26
That is what I mean.

尺价千元以下新楼盘热卖

(2008-07-01)

早报导读

突破两岸六十年隔阂 陆台首发团顺利对开
[陆客兴奋抵达 台业者盛大接机] [直航起飞了 台股没有起]
[直航不直飞是最大遗憾] [两岸包机直航创历史]
中国:达赖私人代表:与北京最近一次谈判最困难
国际:世行:生物燃料才是粮价暴涨罪魁祸首
观点:奥运前如何研判美欧共性与差异?
文萃:南航董事长:两岸如能真正直航票价可降三成
● 吴慧敏
  上个周末的楼市迎来了久违的旺热,几个尺价订在1000元以下的新楼盘都不约而同地传出捷报。

单单是这几个楼盘在过去一个星期卖出的私宅单位总数,已超过270个。这将让今年6月有望成为自去年8月以来楼市最“热卖”的一个月。

  据消息透露,截至昨天傍晚,Kovan Residences已经卖出了大约100个单位。这个位于高文地铁站旁边的99年地契共管公寓,在上个周末举行了一个私人预览活动,只开放给发展商的商业伙伴和亲友订购,每平方英尺售价约900元。

  至于一个星期前预售的碧山共管公寓——Clover by the Park,也在过去一个星期再接再励,卖出另外95个单位。发展商森联集团发言人昨天告诉本报,目前这个以每平方英尺平均750元推出的项目,已总共卖出195个单位。

  森联在上个星期推出的The Amery,也在过去一个星期卖多11个单位,把售出单位提高到27个,即将近七成的销售率。这个位于直落古楼(Telok Kurau)的小型公寓只有39个单位,每平方英尺推出价格平均为860元。

  至于和美投资与职总安居在一个星期前预售的达高轩(Dakota Residences),也在过去一个星期卖出60多个单位,把售出单位提高到140个。这个位于旧机场路附近的共管公寓,每平方英尺平均售价约970元。

  莱坊研究部主管麦俊荣指出,这几个卖得不错的项目都属于中档至大众化档次。“这显示,每平方英尺平均价格订在1000元以下,而且大多数单位的售价不超过150万元的项目,还是有一定的购买力量在支持。”

  “这相信是因为去年和前年楼市高峰时,发展商推出的大多都是高档项目,可供选择的大众化项目不多,所以市场积累了一些需求量。”