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View Full Version : Double Bay Residences, Simei St4 (D18, 99LH, 646units, UOL/Kheng Leong)



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richardsng_era
17-01-09, 14:35
Location: http://www.streetdirectory.com/asia_travel/travel/travel_id_21322/travel_site_1/

Launching after Chinese New Year! Email your name & contact number for the preview.

PROJECT INFORMATION

Developer
-
Name of Project

TBA

Location/ Address

Simei Street 4 / in between Tropical Springs & Simei Green

Tenure of Land

Leasehold 99 years wef TBA

Description

14 blocks of 12 storey development

Site Area

Approximately 346,713 sq ft

Expected T.O.P
TBA

Total No of Units within the development

Estimated 600+

Unit Type & Size


Studio / 2 / 2+S / 3 / 3 +S / 4 bedroom apartment / Duplex / Penthouse

vinwin74
19-01-09, 22:34
hi, any idea how much psf or price range ?

richardsng_era
20-01-09, 00:31
Pricing is not known yet. You could email your name & contact number to me @ [email protected]

Once I got more updates on the condo, I will keep you informed.

latour
14-02-09, 15:53
http://www.businesstimes.com.sg/mnt/media/image/launched/2009-02-11/krlaunch11.jpg

Anybody have more details on this Simei Street 4, 99LH development ??? :)

latour
14-02-09, 15:56
Pricing is not known yet. You could email your name & contact number to me @ [email protected]

Once I got more updates on the condo, I will keep you informed.

Let me know more details of this project, email to [email protected] thanks.

Mr Nice
15-02-09, 10:41
99yrs, 5mins to Simei MRT.

Size Area: 346,714sqft

14 blocks of 12 storeys

Total units: 646 units

Size Avail

1 bedroom ------- 538 to 560sqft
2 bedroom ------- 926 to 936sqft
2 + study --------- 1001 sqft
3 bedroom ------- 1259 to 1324sqft
3 + Study -------- 1367 to 1368sqft
4 bedroom ------- 1550 to 1561sqft

Call Simei Sale team Alex @ 98739465 to register your interest NOW!

latour
15-02-09, 16:56
99yrs, 5mins to Simei MRT.

Size Area: 346,714sqft

14 blocks of 12 storeys

Total units: 646 units

Size Avail

1 bedroom ------- 538 to 560sqft
2 bedroom ------- 926 to 936sqft
2 + study --------- 1001 sqft
3 bedroom ------- 1259 to 1324sqft
3 + Study -------- 1367 to 1368sqft
4 bedroom ------- 1550 to 1561sqft

Call Simei Sale team Alex @ 98739465 to register your interest NOW!

Thanks Alex, more interested in the 3 room or 3 + Study, how much $$$ psf ??? can email me [email protected] also.

latour
15-02-09, 17:05
Location: http://www.streetdirectory.com/asia_travel/travel/travel_id_21322/travel_site_1/

Launching after Chinese New Year! Email your name & contact number for the preview.

PROJECT INFORMATION

Developer
-
Name of Project

TBA

Location/ Address

Simei Street 4 / in between Tropical Springs & Simei Green

Tenure of Land

Leasehold 99 years wef TBA

Description

14 blocks of 12 storey development

Site Area

Approximately 346,713 sq ft

Expected T.O.P
TBA

Total No of Units within the development

Estimated 600+

Unit Type & Size


Studio / 2 / 2+S / 3 / 3 +S / 4 bedroom apartment / Duplex / Penthouse

Estimated 600+ ? you mean its planning to launch at $600+ psf at this time of the market est. in Q2 or Q3 ? Was in that area this afternoon, its fenced up and looks like working on the showroom. I used to own a 3Bedroom at Tropical Spring which is next to it, high-floor, the psf is not so high then. Wonder how this will pen out for this project ? Any comment?

richardsng_era
18-02-09, 22:23
Expected to be launched in early March 2009. Call, SMS or email your name, contact number & email together with your preferred type of units.



PROJECT INFORMATION

Developer
Kheng Leong & UOL Group Limted
Name of Project

TBA

Location/ Address

Simei Street 4 / in between Tropical Springs & Simei Green

Tenure of Land

Leasehold 99 years wef TBA

Description

14 blocks of 12 storey development

Site Area

Approximately 346,713 sq ft

Expected T.O.P
TBA

Total No of Units within the development

Estimated 600+

Unit Type & Size


Studio / 2 / 2+S / 3 / 3 +S / 4 bedroom apartment / Duplex / Penthouse

juronglake
19-02-09, 10:29
PROJECT INFORMATION

Developer
-
Name of Project

TBA

Location/ Address

Simei Street 4 / in between Tropical Springs & Simei Green

Tenure of Land

Leasehold 99 years wef TBA

Description

14 blocks of 12 storey development

Site Area

Approximately 346,713 sq ft

Expected T.O.P
TBA

Total No of Units within the development

Estimated 600+

Unit Type & Size


Studio / 2 / 2+S / 3 / 3 +S / 4 bedroom apartment / Duplex / Penthouse

Kindly email me at 90686016 for more updated information and preview

date soon~~

Simei sale team
20-02-09, 11:00
Launching soon @ Simei.

Very Near MRT (5 min walk)

Estimated TOP 2013

646units.

99yrs.

Near to expo, Changi business area. (Good Investment)

1 - 4bedroom, 4 duplex, Penthouse.

Size Avail

1 bedroom ------- 538 to 560sqft
2 bedroom ------- 926 to 936sqft
2 + study --------- 1001 sqft
3 bedroom ------- 1259 to 1324sqft
3 + Study --------- 1367 to 1368sqft
4 bedroom ------- 1550 to 1561sqft
Duplex ------------ 3606 to 3703 sqft
PH ------------------ 2982 to 3488 sqft



Hurry call Alex @ 98739465 to register your interest. Floorplan available for all the layout.

Simei sale team
20-02-09, 11:11
Launching soon @ Simei.

Very Near MRT (5 min walk)

Estimated TOP 2013

646units.

99yrs.

Near to expo, Changi business area. (Good Investment)

1 - 4bedroom, 4 duplex, Penthouse.

Size Avail

1 bedroom ------- 538 to 560sqft
2 bedroom ------- 926 to 936sqft
2 + study --------- 1001 sqft
3 bedroom ------- 1259 to 1324sqft
3 + Study --------- 1367 to 1368sqft
4 bedroom ------- 1550 to 1561sqft
Duplex ------------ 3606 to 3703 sqft
PH ------------------ 2982 to 3488 sqft



Hurry call Alex @ 98739465 to register your interest. Floorplan available for all the layout.

latour
20-02-09, 17:50
Alex, which company is the marketing agent, how much psf$ ???

kal
20-02-09, 21:45
heard is 640psf up

latour
20-02-09, 23:10
What is the project name ?

$640psf estimated at this time ??? Tropical Spring and Modena is not transacting at such high psf ? Any comments.

kgchong
21-02-09, 08:04
What is the project name ?

$640psf estimated at this time ??? Tropical Spring and Modena is not transacting at such high psf ? Any comments.

name double bay.... yeap... waterfront wave at bedok reservoir also around that region...

so got to decide view or mrt...

shespawn
21-02-09, 08:20
doesn't seem to be priced to sell. $650 psf is too high in this kind of current market condition.

noblebaby
21-02-09, 11:58
doesn't seem to be priced to sell. $650 psf is too high in this kind of current market condition.

yeah, 650psf is too high... maybe $560... same as the QUartz.

noblebaby
21-02-09, 11:59
What is the project name ?

$640psf estimated at this time ??? Tropical Spring and Modena is not transacting at such high psf ? Any comments.

Double Bay Residences

latour
21-02-09, 21:56
Double Bay Residences

Thanks Bro... Why call "Double Bay Residences" .

$500 plus psf at this time should be the max I think.

latour
21-02-09, 22:06
- Heard its confirmed call Double Bay Residences
- $650 psf estimated, why so high ???
- 646 units, too clouded for that pcs of land ?
- SW side is MRT track
- NW side is Tropical Spring condo
- NE side is Simei Green EC
- SE side is another open land
- Very near MRT, with new Food Court just open
- East Point, lots of shops etc.
- If not wrong the land is sloping down from NW to SE generally, so depends whether detail plan got step feature or leveling landscape.

This one is about 3 times bigger than Modena and Tropical Spring condo - all LH99.

jwong71
21-02-09, 22:56
- Heard its confirmed call Double Bay Residences
- $650 psf estimated, why so high ???
- 646 units, too clouded for that pcs of land ?
- SW side is MRT track
- NW side is Tropical Spring condo
- NE side is Simei Green EC
- SE side is another open land
- Very near MRT, with new Food Court just open
- East Point, lots of shops etc.
- If not wrong the land is sloping down from NW to SE generally, so depends whether detail plan got step feature or leveling landscape.

This one is about 3 times bigger than Modena and Tropical Spring condo - all LH99.

this condo facilities seem not too bad.. etc library,golf, pool/billiard.
itzi bigger than melville park.??
thks.

jc
21-02-09, 22:58
Like most of the new launch nowadays, this project is a rip off. Large balcony and planter really decrease the livable space. In fact, the balcony n planter is larger than the common bedrm. The bedrm r tiny, enough only for single bed. Muti-storey carpark sucks. So disappointed with UOL :doh:

latour
21-02-09, 23:06
no basement carpark ? Which part of the project is it?
Simei Green EC is multi-storey parking, but Tropical Spring is basement parking..

I like balcony of good size, but balcony + planter then no no...

isaaclim
22-02-09, 02:47
no basement carpark ? Which part of the project is it?
Simei Green EC is multi-storey parking, but Tropical Spring is basement parking..

I like balcony of good size, but balcony + planter then no no...

I like planter... Balcony NO NO! Singapore is too hot...

louisebrown
22-02-09, 06:58
no basement carpark ? Which part of the project is it?
Simei Green EC is multi-storey parking, but Tropical Spring is basement parking..

I like balcony of good size, but balcony + planter then no no...

Tropical Spring has NO basement parking space.

Cot
22-02-09, 15:14
Yup, its call double bay..pass by everyday taking train
They just paste a big sticker on the grass today
Hmm...I think it will not be $650psf..this is too high..think most prob..around $600psf will be more reasonable..

sun
22-02-09, 15:24
Are the BW and planter inclusive of the purchase floor area ?

isaaclim
22-02-09, 18:20
Are the BW and planter inclusive of the purchase floor area ?

Of course. That is the reason for developer to max the size of balcony and planter. That is where their get their profit!

But project submit from this year, balcony + A/C ledge and planter cannot be counted!

latour
22-02-09, 20:09
Of course. That is the reason for developer to max the size of balcony and planter. That is where their get their profit!

But project submit from this year, balcony + A/C ledge and planter cannot be counted!

And I tot DBR will be like that, ie. Balcony, planter, ledge not counted.

latour
22-02-09, 20:11
Tropical Spring has NO basement parking space.

There is basement parking at TS, stayed there before.

louisebrown
22-02-09, 20:37
Oh really. I know Modena has one cuz I've resided in a unit there.

Rapister
23-02-09, 13:12
actually not bad lah if u r living in the east

but going to orchard will be a problem


CASPIAN FOREVER

jc
23-02-09, 18:00
actually not bad lah if u r living in the east

but going to orchard will be a problem


CASPIAN FOREVER

I don't see how Caspian is any better, far from downtown too. In fact, Caspian is one of the more claustrophobic project around...:doh:

moonk123
25-02-09, 11:54
Project Name-Double Bay Residences
DeveloperSecure Venture Development (Simei) Pte Ltd(Kheng Leong/UOL Group Ltd)
Tenure - 99 Yrs w.e.f. 4 Apr 2008
Completion Date - est. Dec 2013
District - 18

1 bedroom (538 - 635sf)
2 bedroom (915 - 1335sf)
2 bedroom + study (1001 - 1765sf)
3 bedroom (1259 - 1765sf)
3 bedroom + study (1830 - 2142sf)
4 bedroom (1550 - 2379sf)
Duplex (3606 - 3703sf)
Penthouse (2982 - 3488sf)
Ancillary Shop (226 - 538sf)

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/ex2.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/main.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/ex3.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/floor_typeA2.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/floor_typeB1b.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/floor_typeC1.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/e1.jpg

http://www.virtualhomes.sg/FileUpload/Project/2865/Images/e2.jpg

>>> more floor plans and elevation charts , click here >>>> (http://www.virtualhomes.sg/doublebayresidences)


.

focus
25-02-09, 13:54
Why are people paying crazy prices for a 99yr LH in a suburban area?
It as good as writing off that sum ..

99yr depreciate...

You know Sembawang... a lot of 99yr LH terraces going for $1.3 - $1.8mil .. built by Fragrance..

Very nice scenery for some .. as you can see Johor... and river...

But damn ulu and 99yrs...
Amazing that there are people actually living there..

Rapister
25-02-09, 16:10
will you live 99 years more?

talk nonsense

Acer
25-02-09, 16:16
Of course. That is the reason for developer to max the size of balcony and planter. That is where their get their profit!

But project submit from this year, balcony + A/C ledge and planter cannot be counted!

any idea which project is fall into the new rule?

isaaclim
25-02-09, 19:50
any idea which project is fall into the new rule?

Sorry no idea. It all depend on when their submit for approval.

spyro
25-02-09, 22:06
pass by Double Bay today, show flat almost up.. but just wondering, is the plot of land all belongs to Double Bay? or just half of the land??

Cos if u look at google map, the site is big:scared-5: . But on location, not dat big:D . Any ideas anyone?

latour
25-02-09, 23:01
Heard from a friend, was informed by someone that its going to be the 7th March for DBR... anyone here at this forum is seriously considering this one ?

spyro
25-02-09, 23:24
Heard from a friend, was informed by someone that its going to be the 7th March for DBR... anyone here at this forum is seriously considering this one ?

shhh...not so loud.. wait the Rapist wants to buy!:D haha.. but then again, he so high class, so maybe not lah.:D :banghead:

On a more serious note, no harm taking a look.:scared-5:

shespawn
26-02-09, 09:03
someone mentioned that the site Double Bay is residing, used to be a cemetery. Is it true?

kgchong
26-02-09, 11:49
stay in simei... the plot next to mrt track... that is the only killer...

the land is "L" shape and the long side just along the track...

Rapister
26-02-09, 12:48
shhh...not so loud.. wait the Rapist wants to buy!:D haha.. but then again, he so high class, so maybe not lah.:D :banghead:

On a more serious note, no harm taking a look.:scared-5:

hmmm maybe can flip 2 unit if cheap :D

mr funny
26-02-09, 17:51
http://www.businesstimes.com.sg/sub/suite/story/0,4574,320953,00.html?

Published February 26, 2009

More mass market projects to launch

By UMA SHANKARI


(SINGAPORE) Developers are planning to launch more mass market projects this weekend to take advantage of a recent surge in buying interest.

Hiap Hoe Group, a niche developer, will officially launch its 118-unit The Beverly, located at Toh Tuck Road, this Saturday. The starting selling price is $648 per square foot (psf), which Hiap Hoe says is an 'attractive starting selling price'.

'We have designed The Beverly for those looking for affordable, high-quality residential developments in a good location,' said Teo Ho Beng, the company's managing director.

The Beverly's two, three and four-bedroom apartments range from 1,120 sq ft to 4,187 sq ft, while its double-storey penthouses range from 2,099 sq ft to 3,757 sq ft and are each outfitted with a private roof garden and pool.

On the other side of the island at Pasir Ris, Sustained Land Pte Ltd will also officially launch Coastal Breeze Residences come this weekend. Two and three-bedroom units at the 63-unit development will sell for $610-$660 psf.

Sustained Land has sold 13 units in Coastal Breeze Residences since the start of 2008 in a soft launch. The units, which were mostly prime apartments on higher floors, went at an average price of $690 psf.

The remaining units are mostly three-bedders between 1159 sq ft and 1356 sq ft in size and there are also duplex penthouses. In terms of absolute value, for example, the price for a three-room 1159 sq ft unit starts at $712,000.

Meanwhile, the UOL Group is expected to launch its 646-unit Double Bay Residences in Simei sometime next week. Market talk has it that the project could be launched at $650-680 psf.

The three projects are coming hot on the heels of two successful launches earlier this month. Units at Frasers Centrepoint's Caspian condominium near Jurong Lake and Alexis @ Alexandra, a project by joint venture partners Yi Kai Group and Fission Group, sold quickly upon the projects' launches.

One market insider said that developers are taking pricing cues from each other, and making sure their newly launched projects are priced to sell. 'There is a sense that people will only be willing to buy projects in the $600-plus psf range, and also only units that don't cost too much in total. People don't really want to pay more than $600,000 or $700,000-plus in these times,' he said.

Developers are also throwing in more upmarket features into their mass market offerings to entice buyers. Each of The Beverly's 118 apartments is served by private lifts that open into the lobby of its interior. UOL's Double Bay Residences will also offer extras such as full-length windows in the kitchen, the company has said.

juronglake
27-02-09, 23:08
PROJECT INFORMATION

Developer
-
Name of Project

TBA

Location/ Address

Simei Street 4 / in between Tropical Springs & Simei Green

Tenure of Land

Leasehold 99 years wef TBA

Description

14 blocks of 12 storey development

Site Area

Approximately 346,713 sq ft

Expected T.O.P
TBA

Total No of Units within the development

Estimated 600+

Unit Type & Size


Studio / 2 / 2+S / 3 / 3 +S / 4 bedroom apartment / Duplex / Penthouse

Kindly email me at 90686016 for more updated information and preview

date soon~~

Act fast for VIP viewing!!!

focus
28-02-09, 00:12
Wow.. I always thought VIP means Very Impt Person..
you mean I get invited to the launch without you knowing who I am?

shespawn
28-02-09, 08:54
Wow.. I always thought VIP means Very Impt Person..
you mean I get invited to the launch without you knowing who I am?

yah loh, it's any ah kor or ah meow can. just register and u get invite.

gohsoonk
01-03-09, 19:49
- Heard its confirmed call Double Bay Residences
- $650 psf estimated, why so high ???
- 646 units, too clouded for that pcs of land ?
- SW side is MRT track
- NW side is Tropical Spring condo
- NE side is Simei Green EC
- SE side is another open land
- Very near MRT, with new Food Court just open
- East Point, lots of shops etc.
- If not wrong the land is sloping down from NW to SE generally, so depends whether detail plan got step feature or leveling landscape.

This one is about 3 times bigger than Modena and Tropical Spring condo - all LH99.

Based on what I heard, the price range will be $620 psf - $680 psf.

Happy negotiating this coming weekend! :)

noblebaby
01-03-09, 21:21
I'm going to visit this one, heard it is good. :beats-me-man:

mr funny
02-03-09, 16:26
http://www.straitstimes.com/Invest/Story/STIStory_344386.html

March 1, 2009

property

Property market starting to stir

Success of two new launches encourages a few developers to release their projects

By Joyce Teo, Property Correspondent

http://www.straitstimes.com/STI/STIMEDIA/image/20090228/ST_SUNTIMES_1_CURRENT_JTLAUNCH.jpg
Over the weekend, 30 units of the 102-unit St Patrick's Residences in St Patrick's Road in the East were launched. The 646-unit Double Bay Residences in Simei should go on sale soon, with prices set at around $650 psf to $680 psf. -- PHOTO: TG DEVELOPMENT PHOTO: UOL GROUP

View more photos (http://www.straitstimes.com/gallery/Invest/Story/STIStory_344386.html)

Thanks to the mini-buzz created by two new successful launches - Caspian in Jurong and Alexis @ Alexandra - a few developers have decided to release their projects for sale.

It is an improvement, even if it is just a slight one, from the very sombre mood a month ago, when market watchers were expecting the lull in the market to continue.

Over the weekend, TG Development launched 30 units of the freehold, 102-unit St Patrick's Residences in St Patrick's Road in the East.

On average, prices start at around $675 per sq ft (psf) for a two-bedroom unit and rise to about $900 psf for a four-bedroom penthouse.

Unit sizes range from 1,152 sq ft for the two-bedroom units to 3,423sqft for the four-bedroom penthouses. Some three-bedroom units can cost just under $1 million.

The interest absorption scheme, which allows buyers - if they take a loan from the start - to defer making any payments beyond the initial down payment until the project is completed, is offered at a 3 per cent premium.

Marketing agent Savills said the condominium offers quality furnishings and fittings usually associated with prime projects, and that a few units have been sold since the preview a week ago.

Near Upper Bukit Timah, Hiap Hoe has launched The Beverly, its 118-unit condo in Toh Tuck Road.

Each unit is served by a private lift. Prices start at $648 psf; the average price is $750 psf. This means that the total price per unit should start from just below $1 million.

Unit sizes range from 1,120 sq ft for the two-bedders to 4,187 sq ft for the four-bedders. There are also double-storey penthouses from 2,099 sq ft to 3,757 sq ft. Hiap Hoe is not offering the interest absorption scheme.

Other projects expected this month include Double Bay Residences in Simei, The Arte in Thomson, Domus in Irrawaddy Road and an 18-storey project in River Valley.

These are in the mass- to mid-market categories that, unlike the high-end segment, are still attracting buyers.

New home sales in January had plunged to a new low as developers and buyers kept to the sidelines.

The two new projects that sold very well about two to three weeks ago - Caspian and Alexis - helped revive the market mood to a certain extent.

The Caspian showflat was packed during the preview, when 300 out of 712 units were sold at average prices starting from $580 psf. So far, more than 500 units have been sold.

The 293 Alexis units were all sold at $950 psf to $1,250 psf, but the absolute prices were reasonable, given that most units are small.

At a results briefing last Thursday, City Developments' Kwek Leng Joo cited the good take-up at the two projects as proof that there is still demand.

'The good response to recent launches is true,' he said.

Still, the stock market and buying sentiment remain weak.

Ms Phylicia Ang, director of Savills Residential, said: 'The affordability threshold is key at this point. In the current market, it is important to price projects at an attractive level to attract buyers.'

The UOL group should start selling the 646-unit Double Bay Residences near the Simei MRT station soon. It declined to give pricing details of the 99-year leasehold condo until the launch, but there is talk that prices will be around $650 psf to $680 psf.

The one-bedders start at 538 sq ft, the two-bedroom units from 915sq ft, while the big units can go up to 3,703 sq ft.

Along Thomson Road, The Arte is expected to be released for preview sale by the middle of the month.

Property agents have advertised the preview of the 336-unit, freehold condo at prices starting at more than $950 psf.

About half of the project, or 164 units, are three-bedroom units from 1,399 sq ft to 1,625 sq ft. Another 100 units are 1,873 sq ft four-bedders.

There are also advertisements for the preview of the 18-storey, 67-unit project in River Valley, which offers the interest absorption scheme. It has mostly small units - 32 are 635 sq ft apartments and 30 are 1,044 sq ft units.

A Chinese developer, Lakeview Developments, may also push out its 104-unit Domus this month.

High-end launches will likely be few and far between this year, as current demand is coming only from owner-occupiers or very small investors, according to a developer.

There should be more mass- to mid-market projects coming up in the next few months. These could include projects like the 99-year leasehold Ascentia Sky next to the Redhill MRT station. It offers two- to four-bedroom units from approximately 1,000 sq ft to 1,800 sq ft.

[email protected]

shespawn
02-03-09, 21:17
doesn't seem positive for developers with reports like this...
it means prices will still go low, looks like Double Bay really have to sell below 600psf.

Developers need to launch properties to avoid holding costs
By Ng Baoying, Channel NewsAsia | Posted: 02 March 2009 1935 hrs
http://www.channelnewsasia.com/imagegallery/store/phplDLkFG.jpg Photos 1 of 1 ">http://www.channelnewsasia.com/images/dotline_240.gif



SINGAPORE: Singapore homebuyers can expect more private residential properties to be launched in the coming months and at lower prices.

Analysts said that's because developers are now torn between accepting either weaker profits or high costs of holding on to land.

Brisk sales seen in recent property launches like the Caspian can be credited to lower prices being offered by developers.

Units there were sold at about S$600 per square foot, or S$50 per square foot less than earlier planned.

Analysts said developers have little choice but to cut prices to move sales as the the cost of holding onto a piece of land can be expensive as well. A typical plot of land for mass market homes could chalk up more than S$500,000 of interest annually including other costs.

Interest on land cost is typically about four to six per cent. Developers normally take a 60 per cent loan on land.

This means a mid to mass market plot of land bought for S$20 million will accrue more than S$500,000 of interest in a year. There are other costs too.

Cheang Kok Kheong, COO, Development & Property, Frasers Centrepoint, said: “It's very good price for the present economic situation and it really meets the kind of needs and budgets our customers have right now. We have committed our construction costs. We have gone ahead and developed it and we are looking at our cashflow to ensure that we can build the project on time with little financial difficulties."

Frasers also wants cash for possible land acquisitions in the near term.

Other developers which have turned to cutting prices include City Developments.

It recently launched a new phase of its Livia project in Pasir Ris at about S$620 per square foot, down from S$650 per square foot.

And GuocoLand relaunched its development near Buangkok MRT, the Quartz, at an average price of S$595 per square foot, more than eight per cent lower than the initial launch in 2007.

Another developer, MCL Land recently made provisions to value its land near current market prices.

Analysts said this is normally a prelude to a relaunch at lower prices.

But they note that developers will not keep prices low for too long.

Donald Han, managing director, Cushman & Wakefield, said: "Some obvious strategy would be to go out there, launch as much as you can depending on where the quota is. Then once you hit a certain sales quota you stop and then you relaunch it when the project can be launched at a better market sentiment and hopefully at a higher price as well."

Most analysts believe the market will start to pick up in mid-2010. - CNA/vm

noblebaby
06-03-09, 22:09
I'm going to visit this one, heard it is good. :beats-me-man:

Any one visit the soft launch today? Heard that price is above 650psf!! So expensive, who wan to buy???

You guys really think price will go below 550psf??? I think even if price fall to 550psf, it is only applied to those bad facing n low floor units.... This is like stock market, good chip tends to hav better support....:spliff2:

kgchong
06-03-09, 22:35
Any one visit the soft launch today? Heard that price is above 650psf!! So expensive, who wan to buy???

You guys really think price will go below 550psf??? I think even if price fall to 550psf, it is only applied to those bad facing n low floor units.... This is like stock market, good chip tends to hav better support....:spliff2:

do you by chance also live in east? :D

shespawn
06-03-09, 22:46
ok, i can finally stop my property hunting already. just got a 2+1bedroom here. hmm.. it's going to be a long wait.

latour
06-03-09, 22:50
ok, i can finally stop my property hunting already. just got a 2+1bedroom here. hmm.. it's going to be a long wait.

congrats... @ $630 psf ?

shespawn
06-03-09, 22:55
hmm... no didn't buy the cheaper unit, bought stack 6. 13 and 14 are too near to mrt sounds. how about urself?

noblebaby
07-03-09, 08:40
hmm... no didn't buy the cheaper unit, bought stack 6. 13 and 14 are too near to mrt sounds. how about urself?

Congrats... Heard many ppl at the soft launch... But not sure how d sales going on...

shespawn
07-03-09, 10:57
hmm.. so far the favourable 2+1 units are all sold. not sure for 2 bedroom and the studio suites.

AK47
07-03-09, 11:16
Seem like this project is tracking the footsteps of Caspian sales.

80+ unit in first day preview. Should easily clock 200+ unit this weekend.

kgchong
07-03-09, 12:29
Seem like this project is tracking the footsteps of Caspian sales.

80+ unit in first day preview. Should easily clock 200+ unit this weekend.

drove by the showroom... pack with ppl...

shespawn
07-03-09, 15:15
they have different promotional discount at 3% for first 120 units, thereafter, it's 2% for dunno how many units.. then after that, no discount. long term wise, it's a good investment, as many banks are shifting their whole operations over to Chang Business park, so probably can get a lot of expatriates to rent.

kgchong
07-03-09, 15:33
they have different promotional discount at 3% for first 120 units, thereafter, it's 2% for dunno how many units.. then after that, no discount. long term wise, it's a good investment, as many banks are shifting their whole operations over to Chang Business park, so probably can get a lot of expatriates to rent.

went there just now... selling 650psf....

10 floor costing 886k.... 3 bdrm.... 1367sqft...

spyro
07-03-09, 22:01
doesn't seem positive for developers with reports like this...
it means prices will still go low, looks like Double Bay really have to sell below 600psf.

Developers need to launch properties to avoid holding costs
By Ng Baoying, Channel NewsAsia | Posted: 02 March 2009 1935 hrs
http://www.channelnewsasia.com/imagegallery/store/phplDLkFG.jpg Photos 1 of 1 ">http://www.channelnewsasia.com/images/dotline_240.gif



SINGAPORE: Singapore homebuyers can expect more private residential properties to be launched in the coming months and at lower prices.

Analysts said that's because developers are now torn between accepting either weaker profits or high costs of holding on to land.

Brisk sales seen in recent property launches like the Caspian can be credited to lower prices being offered by developers.

Units there were sold at about S$600 per square foot, or S$50 per square foot less than earlier planned.

Analysts said developers have little choice but to cut prices to move sales as the the cost of holding onto a piece of land can be expensive as well. A typical plot of land for mass market homes could chalk up more than S$500,000 of interest annually including other costs.

Interest on land cost is typically about four to six per cent. Developers normally take a 60 per cent loan on land.

This means a mid to mass market plot of land bought for S$20 million will accrue more than S$500,000 of interest in a year. There are other costs too.

Cheang Kok Kheong, COO, Development & Property, Frasers Centrepoint, said: “It's very good price for the present economic situation and it really meets the kind of needs and budgets our customers have right now. We have committed our construction costs. We have gone ahead and developed it and we are looking at our cashflow to ensure that we can build the project on time with little financial difficulties."

Frasers also wants cash for possible land acquisitions in the near term.

Other developers which have turned to cutting prices include City Developments.

It recently launched a new phase of its Livia project in Pasir Ris at about S$620 per square foot, down from S$650 per square foot.

And GuocoLand relaunched its development near Buangkok MRT, the Quartz, at an average price of S$595 per square foot, more than eight per cent lower than the initial launch in 2007.

Another developer, MCL Land recently made provisions to value its land near current market prices.

Analysts said this is normally a prelude to a relaunch at lower prices.

But they note that developers will not keep prices low for too long.

Donald Han, managing director, Cushman & Wakefield, said: "Some obvious strategy would be to go out there, launch as much as you can depending on where the quota is. Then once you hit a certain sales quota you stop and then you relaunch it when the project can be launched at a better market sentiment and hopefully at a higher price as well."

Most analysts believe the market will start to pick up in mid-2010. - CNA/vm

I really dun understand some singaporeans..whenever there's a new launch, all rush in like mad even though u know that u r taken for a sucker to buy at developers price!

Developer paid $296 psf per plot ratio and they r launching at $620!!! Go calculate how much profits they r raking in. When u rush in to buy, u r basically sending the wrong signal, thus, the price will only go up. All the buyers have bitten the bait too easily.

With the economy shrinking maybe -10(MM's prediction if second quarter slides further), dun u think its better to wait a few more months? well, just my 2 :2cents: .. have a gd day everyone:cheers6:

Alan Tam
07-03-09, 23:01
I really dun understand some singaporeans..whenever there's a new launch, all rush in like mad even though u know that u r taken for a sucker to buy at developers price!

Developer paid $296 psf per plot ratio and they r launching at $620!!! Go calculate how much profits they r raking in. When u rush in to buy, u r basically sending the wrong signal, thus, the price will only go up. All the buyers have bitten the bait too easily.

With the economy shrinking maybe -10(MM's prediction if second quarter slides further), dun u think its better to wait a few more months? well, just my 2 :2cents: .. have a gd day everyone:cheers6:
It's just a prediction, anything can happen tomorrow, than the story will not be the same, prices may go up again.

HP65
07-03-09, 23:11
It's just a prediction, anything can happen tomorrow, than the story will not be the same, prices may go up again.

Every recession is the same. This is the final breath. After this round of mass market buyers, property prices will slide down for the next 5 years at least. It happened in 1999 as well.

At that time, many investors were burnt in the 1997 crisis except for those homestayers. Developers launched semi-govt EC and most were sold out quickly like Florida, summersdale. Most of us know that these EC units later exchanged hands at deep discounts after the 5 yr occupational period.

Likewise, it will hit these buyers of Caspian, Double bay, Livia. Later on, prices of more central locations will just be close to what they paid for these out-skirt projects.

In a way its good. There will be less competition later.

kgchong
08-03-09, 08:22
Every recession is the same. This is the final breath. After this round of mass market buyers, property prices will slide down for the next 5 years at least. It happened in 1999 as well.

At that time, many investors were burnt in the 1997 crisis except for those homestayers. Developers launched semi-govt EC and most were sold out quickly like Florida, summersdale. Most of us know that these EC units later exchanged hands at deep discounts after the 5 yr occupational period.

Likewise, it will hit these buyers of Caspian, Double bay, Livia. Later on, prices of more central locations will just be close to what they paid for these out-skirt projects.

In a way its good. There will be less competition later.

have the same thinking, last recession... last till Dec 2006... now... not sure will repeat itself or not.. or sooner as all government is involve...

shespawn
08-03-09, 09:37
I really dun understand some singaporeans..whenever there's a new launch, all rush in like mad even though u know that u r taken for a sucker to buy at developers price!

Developer paid $296 psf per plot ratio and they r launching at $620!!! Go calculate how much profits they r raking in. When u rush in to buy, u r basically sending the wrong signal, thus, the price will only go up. All the buyers have bitten the bait too easily.

With the economy shrinking maybe -10(MM's prediction if second quarter slides further), dun u think its better to wait a few more months? well, just my 2 :2cents: .. have a gd day everyone:cheers6:

hmm, they paid $296 psf per plot ratio, but you must also factor in the construction cost also. it's about $250-300 psf, so their breakeven is probably around 600psf. so nothing wrong to price at this price. with the market going down, there are always homebuyers waiting for a affordable price to buy their dream house.
Take into consideration the forward pricing too. Although pple who are buying this property now, are probably suckers to pay at this kind of price, but 5 years down the road, you see the value.

fourth
08-03-09, 10:28
If this is for your own stay, why not? Simei has always been a popular place. Their resale HDB mostly never sell below valuation even during the bad times. Easy access to all expressway. Enough amenities without the massive crowd.

Simei has not got a new condo within walking distance of the MRT for many years liao, natural this launch will draw interests.

Sure I think this condo has its weakness like multi-storey carpark, small rooms... but it also has its plus points like large area, beautiful landscape, facilities, etc. Unless they knock down some HDB or enbloc Modena or TS, there is no more land to build another closer to the MRT in the future.

isaaclim
08-03-09, 16:53
hmm, they paid $296 psf per plot ratio, but you must also factor in the construction cost also. it's about $250-300 psf, so their breakeven is probably around 600psf. so nothing wrong to price at this price. with the market going down, there are always homebuyers waiting for a affordable price to buy their dream house.
Take into consideration the forward pricing too. Although pple who are buying this property now, are probably suckers to pay at this kind of price, but 5 years down the road, you see the value.

DBR is not a high rise developer. Plus the current material costs is 40% discounted from 2007 price. So, they don't need S$250psf to break even.

But in general, it is a nice project. 1 & 2 bedrooms are good for investment. But the balcony + planter is just a killer.

DW
08-03-09, 19:15
they have different promotional discount at 3% for first 120 units, thereafter, it's 2% for dunno how many units.. then after that, no discount. long term wise, it's a good investment, as many banks are shifting their whole operations over to Chang Business park, so probably can get a lot of expatriates to rent.

My humble opinion is that, gone are the days where banks are flooded with expatriates. The fact of the matter is that most of these foreigners are actually here in Singapore on local terms. Expatriates whom are on real expat terms, would typically be staying in D9,10 or 11 anyway.

In respect of the Changi Business parks and banks, as far as I know, its mainly the back office operations and perhaps certain elements of middle office are shifted there. Most of the front office staff remains in Raffles Place and Shenton Way (only a few banks in Shenton Way actually, and they are all housed in Capital Tower or DBS Building). Expats in Changi Business Park, if any, will be limited to those holding positions in back office or middle office, which will be few.

My 2 cents worth.

cwchan
08-03-09, 21:06
did anyone ask about the monthly maintenance? Will it be skyhigh due to the waterfall?

kgchong
08-03-09, 21:27
did anyone ask about the monthly maintenance? Will it be skyhigh due to the waterfall?

for 3 bedder, around 300/mth

shespawn
08-03-09, 22:04
2+1 bedroom is $250 per mth for maintenance.

spyro
09-03-09, 02:03
Unless they knock down some HDB or enbloc Modena or TS, there is no more land to build another closer to the MRT in the future.[/quote]

If i remembered correctly, one big piece of land directly across the road from the MRT, next to Modena.

Shespawn : no offence to u, but if u r buying for investment, y not Casa Merah? Thought u initially wanted Casa merah?? For the price u r paying for DBR (shld be more than 650K?), u could hv gotten a 2 plus 1 as well?
Casa Merah gona TOP soon, could generate some passive income.. Thou Casa not so close to MRT n there's no mall.

Well, i m waiting to see how the situation pans out and waiting for the new launch infront of Casa merah, hehe.. Anyway, congrats on ur new home. Peace to all..:cheers6:

isaaclim
09-03-09, 09:38
I was being advised not to buy property at Tanah Merah. It is either not a "good" place or it trend to give an wrong impression that it is a very good place which is end up not true.

I won't want to mention the project name. But you definitely can check history data. There is a project in this area where the selling price is lower than initial launching price. This project + another project in bishan is famous because in 2007 their still cannot reach their peak.

If the land in front of Casa Merah is going to launch this year, same similar result will happen.

So, unless you manage to get good bargain, otherwise...

shespawn
09-03-09, 10:02
Unless they knock down some HDB or enbloc Modena or TS, there is no more land to build another closer to the MRT in the future.

If i remembered correctly, one big piece of land directly across the road from the MRT, next to Modena.

Shespawn : no offence to u, but if u r buying for investment, y not Casa Merah? Thought u initially wanted Casa merah?? For the price u r paying for DBR (shld be more than 650K?), u could hv gotten a 2 plus 1 as well?
Casa Merah gona TOP soon, could generate some passive income.. Thou Casa not so close to MRT n there's no mall.

Well, i m waiting to see how the situation pans out and waiting for the new launch infront of Casa merah, hehe.. Anyway, congrats on ur new home. Peace to all..:cheers6:[/quote]

im actually buying casa merah for my home stay, but prices wasn't going down to my expectations, and looking at double bay's facilities and location, i decided to wait again. Casa merah didn't gave me a nice view and either it's facing the main road, or getting the west sun. DB cost me 650k but i get a lap pool view and no afternoon sun and it's 2+1. Moreover, im renting my hdb to pay for the mortages, and right now, rental market has gone down. So in 4 years when DB TOP, i probably getting a better rental for my HDB, so waiting is not a big issue.

mr funny
09-03-09, 12:24
http://www.businesstimes.com.sg/sub/companies/story/0,4574,322550-1236455940,00.html?

Published March 7, 2009

80 units of Simei condo sold

UOL upbeat on project's future take-up, given 'terrific' response on 1st day of preview

By UMA SHANKARI


UOL Group and Kheng Leong yesterday sold more than 80 units of their new Simei condominium Double Bay Residences on the first day of its preview, the companies said.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-03-07/BT_IMAGES_UMUOL7.jpg
LUSH LIVING
Two-thirds of Double Bay Residences are taken up by four swimming pools and landscape features such as a five-storey high waterfall, an elevated jacuzzi and a sports deck

Units at the 646-unit, 99-year leasehold project went for $600-650 per square foot (psf), UOL group chief operating officer Liam Wee Sin told BT.

UOL and Kheng Leong paid some $296 psf per plot ratio for the site in Jan 2008.

Mr Liam is upbeat about future take-up for the project as well. 'The response to the preview has been terrific and if the same momentum is sustained, we expect to sell at least 200 units by this weekend,' he said.

UOL released 250 units during yesterday's soft launch. The project will be officially launched on March 14.

Yesterday's transaction prices were slightly lower than the indicative prices that agents were giving out last week - which were in the range of $650-680 psf.

Mr Liam said that the $600-$650 selling price will be maintained: 'We are happy with the pricing and we have no intention of raising prices.'

One-bedroom apartments were priced at $420,000 to $480,000; two-bedders went for $570,000 to $620,000; three-bedders for $740,000 to $850,000; and four-bedroom units sold for $930,000 to $1.02 million.

Like with other recent launches, UOL is offering an interest absorption scheme to buyers, but this costs about 2 per cent more.

The project is expected to receive its temporary occupation permit in 2013.

Peter Ow, executive director for residential marketing at Knight Frank (which is marketing the project), said that most of the buyers were HDB upgraders. Units on higher floors were also proving to be more popular, he said.

Mr Liam pointed out that the last condo project in Simei was launched a decade ago.

'So we believe there's pent-up interest for condo living in the area,' he said, noting that there is latent demand from owners of HDB five-room and executive flats in Bedok, Pasir Ris, Punggol, Sengkang and Tampines.

UOL and Kheng Leong also said that apartments will be fitted with 'elegant finishings comparable to district 10 condos', which they expect will be a selling point.

Two-thirds of Double Bay Residences are taken up by four swimming pools and landscape features such as a five-storey high waterfall, an elevated jacuzzi and a sports deck.

UOL Group and Kheng Leong also sold six shop units within the project at $1,150 psf to a single buyer.

mr funny
09-03-09, 12:36
http://www.straitstimes.com/Money/Story/STIStory_347025.html

March 7, 2009 Saturday

Fairly brisk sales for new condos

Attractive prices draw buyers to entry-level and mid-priced projects

By Fiona Chan, Property Reporter


THE show-flat crowd - that rarest of species these days - has been lured back into the market by two new developments that held soft launches this week.

Hundreds of people turned up at the Double Bay Residences showroom in Simei when its doors opened for a private preview yesterday.

Developer UOL Group said more than 80 units have been sold so far, at an average price of $600 per sq ft (psf) to $650 psf. The development's six retail units have all been sold as well.

Chief operating officer Liam Wee Sin noted that the response was strong ahead of the 99-year leasehold condominium's official launch next weekend.

UOL has so far released 250 of the 646 units in Double Bay for sale. One-bedroom units in the Simei Street 4 project start from $420,000, while four-bedders cost at least $930,000.

The crowds were also out for The Mercury in Shanghai Road, which was said to be more than 60 per cent sold since it started previews on Thursday.

The 67-unit freehold project is priced from about $1,040 psf. One-bedroom units at the River Valley estate start from $740,000, while two-bedders are going for about $1.1 million.

The fairly brisk sales for these projects come on the heels of a few successful launches recently, which appear to have boosted sentiment in the badly battered property market.

Last month, Frasers Centrepoint said it sold over 300 units in three days at its Caspian condominium in Jurong. To date, over 500 of the 712 units have been sold.

Caspian's success was mirrored at The Alexis in Alexandra Road, which sold out within a few days of its preview.

Property consultants say the main draw for these projects is their attractive prices, which, at well under $1 million, are affordable for HDB upgraders. Even mid-tier projects such as The Alexis and The Mercury feature smaller units to offset their higher per square foot prices.

'These days, it looks like the total quantum of price is more important than the price per square foot,' said Knight Frank director of research and consultancy Nicholas Mak. 'In some areas, prices have come down 20 per cent to 30 per cent from the peak, and there are probably people who see these buys as good bargains.'

Still, most of the sales activity are confined to the entry-level and mid-priced market. High-end projects are still facing a very challenging time, consultants say.

And while transactions are being steadily chalked up, there remain clear signs that not everything is fine and dandy in this economic recession.

At The Mercury, for instance, agents marketing the project said they had expected it to be fully sold within one day.

In Toh Tuck Road, off Upper Bukit Timah, boutique developer Hiap Hoe was said to have sold only a handful of units in The Beverly condominium, although news reports said more than 300 people turned up for its launch last weekend.

Hiap Hoe released 31 of the 118 units at an average price of $750 psf. The apartments are a bit bigger than average, starting from 1,120 sq ft for the smallest two-

bedroom units, which translates into somewhat higher prices per unit.

The developer is also not offering the interest absorption scheme for The Beverly, which was on offer for the Caspian and The Alexis and is available for Double Bay and The Mercury.

Under the scheme, buyers who take out a loan immediately on purchase pay only a down payment and defer remaining instalments until the project is finished.

Mr Liam of UOL, however, said more of Double Bay's buyers opted for the normal payment schemes rather than taking up interest absorption.

The buyers so far have been a mixed bag - HDB upgraders, private home owners and owner-occupiers, and investors.

On the whole, the smaller units have proven more popular, he said, underscoring the importance of affordability. But he said an 'encouraging' sign was that buyers were also going for units on higher floors, which are more expensive.

'We are seeing a flight to quality,' he told The Straits Times. 'If the price is within their budget, they will gun for the better units and the higher floors.'

[email protected]

fourth
09-03-09, 22:23
If i remembered correctly, one big piece of land directly across the road from the MRT, next to Modena.


Yes there is one but it is quite small. Thanks for the correction. I am not sure what the land planned for, but think the plot is smaller and narrower than Modena/TS. Surely the plot is not big enough to develop a landscape even close to that of DB.

gohsoonk
09-03-09, 22:36
Like most of the new launch nowadays, this project is a rip off. Large balcony and planter really decrease the livable space. In fact, the balcony n planter is larger than the common bedrm. The bedrm r tiny, enough only for single bed. Muti-storey carpark sucks. So disappointed with UOL :doh:

I agree with some of your points (below are some negatives in my opinion):

(1) The furnishing is so-so (other than the dry kitchen). Was expecting more.

(2) The shape of the balcony is a little queer. I like the space though.

(3) The bedroom (other the master bedroom) is small.

(4) Multi storey carpark give the HDB feel. Although they try to lessen the effect with water feature and greens on the facade.

(5) The plot seems to be small for the number of units.

(6) For car transport, there is only one entrance/exit.

(7) The development is too near the MRT.

Below are the positives (in my opinion):

(1) This development has some unique facilities (library - aka study corner, band room, piano room and table tennis table).

(2) The gym quite possibly has a nice view as it overlooks a waterfall.

(3) The substation is neatly tucked away at the multi storey car park.

(4) The furnishing for the dry kitchen is quite good.

noblebaby
11-03-09, 23:13
Visited this project today... hmnnn... very bad siteplaning... interior has no standard... don't understand why some ppl rush in to buy at high price. :doh:

isaaclim
12-03-09, 00:53
Visited this project today... hmnnn... very bad siteplaning... interior has no standard... don't understand why some ppl rush in to buy at high price. :doh:

Bad site planing? Beside the multi-level carpark which make it look cheap, the rest is pretty well designed.

Interior no standard - Maybe your expectation is too high for mass market project. The materials used for show flat is consider not bad.

In fact, i was very surprised that UOL did not attach material specification in their booklet. Fishy fishy?!! Hopefully UOL will not do the this fishy fishy things, show you this and use another materials.

mr funny
13-03-09, 15:02
http://www.businesstimes.com.sg/sub/companies/story/0,4574,323391,00.html?

Published March 13, 2009

UOL sells 70 more units in Double Bay over weekend

By UMA SHANKARI


UOL Group and Kheng Leong sold about 70 units of their new Simei condominium Double Bay Residences over the past weekend - fewer than what it was aiming for, sources said.

UOL said last Friday after it sold over 80 units on the first day of the project's soft launch that it expected to sell at least 200 units in all by the end of the weekend.

But so far, the developers have sold about 150 apartments in the 646-unit project.

Sources also said that prices are higher than what the developers had previously quoted.

The companies said last Friday that units in the 99-year leasehold development will be sold for $600-650 per square foot (psf). However, BT understands that most of the units sold so far are either smaller apartments, and/or apartments on the higher floors - which means that they were sold for higher than average prices. For example, a one-bedroom apartment in the development sold for more than $800 psf, BT understands.

UOL and Kheng Leong released 250 units during the soft launch over the weekend, and hundreds of people turned up at the showroom in Simei. The project will be officially launched on Saturday.

One market observer said that the two developers could be pricing units higher to ensure a respectable profit margin. UOL and Kheng Leong paid some $296 psf per plot ratio for the site in January 2008.

Elsewhere, boutique developer Hiap Hoe Group has sold just a few units of its 118-unit The Beverly at Toh Tuck Road since the project was soft-launched at the end of February.

The units sold for an average price of $730-$740 psf, BT understands. Hiap Hoe released just 31 units in the project, and is aiming to sell enough homes to start construction.

etml
20-03-09, 19:26
How come so quiet here? This project not popular?

peterng8
22-03-09, 21:20
Congrats to those buying DB, i went to take a look at the show room with my family, and we were facsinated by facilities :the 5 storey waterfall, elevated jacuzzi overlooking the pool, jungle pool, 50m lap pool, main pool, children pool, library, function and gym overlooking the watefall, karoake, piano, band room, and many many more beautiful and attractive features....it is just like a high class resort...

it does not only has full facilities but it is with an additional additional full faciltiites.....congrats to those who bought it as the business park is now under dvelopment...it is good investment..

UserName
22-03-09, 21:45
So did you pick up a unit?

mr funny
23-03-09, 12:22
http://www.businesstimes.com.sg/sub/companies/story/0,4574,324752-1237751940,00.html?

Published March 21, 2009

UOL sells unit to CEO's niece

By UMA SHANKARI


UOL Group said yesterday it sold a unit in its new project Double Bay Residences to Anna Gwee Lay Peng, niece of UOL director and chief executive Gwee Lian Kheng, for $878,820.

Except for a 3 per cent 'early bird' discount also available to public purchasers, Ms Gwee received no other discount, UOL said. Ms Gwee's 1,927 sq ft second-floor apartment cost her $456 per sq ft.

UOL and partner Kheng Leong launched the 646-unit, 99-year leasehold Simei condominium Double Bay Residences early this month. On Monday, they had sold more than 210 units, out of 250 released so far. UOL said the apartments were sold at an average of $600-650 psf. The project is expected to receive its temporary occupation permit in 2013.

UOL said yesterday its audit committee reviewed and approved the sale of the unit to Ms Gwee and is satisfied the sale terms are fair and reasonable. The audit committee and the board of directors, with Mr Gwee abstaining, are also satisfied that the terms of the sale are not prejudicial to the interests of the company or its minority shareholders, UOL's statement added.

UOL shares lost one cent to close at $1.69 yesterday.

focus
23-03-09, 13:44
Eh.. how does that work out...

the avg selling price is $600-650..
but the neice got it at $456... and it is stated with only 3% early bird discount and no further discount given.

isaaclim
23-03-09, 17:57
Eh.. how does that work out...

the avg selling price is $600-650..
but the neice got it at $456... and it is stated with only 3% early bird discount and no further discount given.

He got the unit with PES.

peterng8
23-03-09, 19:35
Eh.. how does that work out...

the avg selling price is $600-650..
but the neice got it at $456... and it is stated with only 3% early bird discount and no further discount given.


Normally, smaller unit has higher psf price(eg 1 bedroom)

Larger unit has lower psf price
the S$600 plus should apply to 2 to 3+1 unit ....

etml
23-03-09, 21:22
Eh.. how does that work out...

the avg selling price is $600-650..
but the neice got it at $456... and it is stated with only 3% early bird discount and no further discount given.

Some of the 3br units with pes are indeed around this price but they are those with bad facing. The better units with say poolview are all going for around $1mil or more ie $500plus psf. From the floor area given I'm quite sure hers is the one with poolview. Therefore, even with 3% disc it should still be around $500 psf. No where near $456 psf. They just played with the figures to make it look like only 3% by lowering their so called "list price". so much for transparency.

focus
23-03-09, 23:47
Hmm.. how do you find out the price for larger units..
coz when I ask.. it seems that most agents will tell you that it's the same psf for larger apartments ...

etml
24-03-09, 00:12
Hmm.. how do you find out the price for larger units..
coz when I ask.. it seems that most agents will tell you that it's the same psf for larger apartments ...


I was looking to buy a ground flr unit there. They probably could tell that u are not going for the big units so they didnt want to tell u. cos once u compare the psf u will think their smaller units are overpriced....and i think they are!! I visited the showflats few times and was served by diff agents....all gave me diff info.

cyl
24-03-09, 00:40
Went to the showroom to see what's all the buzz about DB. Honestly, not impressed with the design. This project had too much wasted space for the planter box and bay window. Although its written say 1270 sqft for the three bedrooms, actual livable space is very small. Plus the showroom is rather deceiving; if you looked carefully, certain rooms are built without the bay windows.

etml
24-03-09, 01:10
Not only the showroom is deceiving, the agents are not entirely honest with layout queries and availability of units.. They also do not disclose certain facts. How many of the buyers here or those who had visited th.e showflat was being told that the rubbish chute is at the lift lobby? multi storey carpark plus common rubbish chute...just like a "glamourised" hdb.

focus
24-03-09, 03:32
I was looking to buy a ground flr unit there. They probably could tell that u are not going for the big units so they didnt want to tell u. cos once u compare the psf u will think their smaller units are overpriced....and i think they are!! I visited the showflats few times and was served by diff agents....all gave me diff info.

How to let them know that I am going for the big units ?
Must I hang my bank accounts in the private banks for them to know?

isaaclim
24-03-09, 08:36
Not only the showroom is deceiving, the agents are not entirely honest with layout queries and availability of units.. They also do not disclose certain facts. How many of the buyers here or those who had visited th.e showflat was being told that the rubbish chute is at the lift lobby? multi storey carpark plus common rubbish chute...just like a "glamourised" hdb.

That's why. DBR is only for rental investment. Not for own stay. Anythings bigger then 2 bedder should not touch.

etml
24-03-09, 10:23
How to let them know that I am going for the big units ?
Must I hang my bank accounts in the private banks for them to know?


well as we all know majority of the units sold are studios and 2br...so i supposed they just assume most ppl are there for the smaller units unless u show very keen interest in the big ones. The small units are low in absolute px and thus easier to get ppl to commit there and then. Whereas the big units are usually for own occupation and with larger cash outlay....we tend to consider a lot more.

I don't think they simply look at how fat your bank acc is. I was shabbily dressed in tank top shorts and flip flop...definitely looked like i cant even afford a studio :ashamed1: They would normally ask how many bedrms we r interested in and for own stay or investment...and they see if u are there alone, with friends or family. so roughly from there they could tell the buyers' profile. As for me...my kids were having a lot of "fun" at the water feature and they could tell i like the big pes a lot...probably fr my facial expressions haha.

What puts me off is the agent's sales tactics...they all seems to hv diff tricks up in their sleeves. The 1st agent shortlisted a couple of so called gd poolview units for me which i later found out that they are actually sunken, can't see the main pool at all. Then the next day he kept calling me to give him a chq within 2 hrs cos many buyers are eyeing my units and he cant hold for me for too long. Til now the units are still not sold.

few days later i went again this time alone and this 2nd agent told me all the ground flr units were so popular that all sold except for 1 left. Price seemed attractive at about just under 500psf with poolview....but i realised it's got direct afternoon sun. Again i found out later that most of the 3 and 3+1 pes units are still available. in fact only a handful (<5) sold. Was he trying to get rid of the lousy unit? or he thought i can't afford it anyway? I also asked him where the rubbish chute was as i noticed its not in the flrplans....he pointed to where the washing machine supposed to be and said shld be there. i pointed out to him that that's allocated for washing machine...he act blur then anyhow pointed to another void area and said "oh then must be here". What did he take me for? stupid or what?!!

So buyers pls beware. This project does hv some of it's gd pts too in terms of facilities. If u ppl still like this plc despite all the inconvenience....do your own homework b4 signing on the dotted line. Don't trust the agents.

noblebaby
24-03-09, 10:51
So buyers pls beware. This project does hv some of it's gd pts too in terms of facilities. If u ppl still like this plc despite all the inconvenience....do your own homework b4 signing on the dotted line. Don't trust the agents.

Agreed, I always hang around the waterfront waves showroom even after getting mine... some visitors asked about the 2-brm unit facing, agents told them those units are facing the park. good view. You know what, those units are all facing HDB and its only 50m away. Now, all the 2-brm units hav been fully sold. :scared-4: What will you feel if you only realize your unit is facing HDB when TOP? :tsk-tsk:

etml
24-03-09, 11:21
All they care abt is their comm. noblebaby since u mentioned facing. I just like to share 1 more thing. actually I had zeroed in to 1 poolview unit and was trying to neg for some disc. Developer turned down my offer and I was'nt willing to give in as well. I'm very firm abt paying what I think its worth.Then the agent tried to recommend me another non poolview unit which is more than 100k cheaper. He kept telling me how value for money it was, got nice garden view, quieter and more privacy. guess wat? its actually facing a walkway and condo fencing ... and next to it is the children playground! what a joke!

cher
24-03-09, 12:07
All they care abt is their comm. noblebaby since u mentioned facing. I just like to share 1 more thing. actually I had zeroed in to 1 poolview unit and was trying to neg for some disc. Developer turned down my offer and I was'nt willing to give in as well. I'm very firm abt paying what I think its worth.Then the agent tried to recommend me another non poolview unit which is more than 100k cheaper. He kept telling me how value for money it was, got nice garden view, quieter and more privacy. guess wat? its actually facing a walkway and condo fencing ... and next to it is the children playground! what a joke!


Ai ya the best is just zero in on your choice unit and negotiate, why care about other units facing this and that afterall you are not interested why waste time and energy????????

cyl
24-03-09, 12:18
I agree, hang around the showroom after you've purchased your unit.
Hate those money grubbing agents... Keep the fact sheet clean and clear, only then people will trust and engage your services in the future.


Agreed, I always hang around the waterfront waves showroom even after getting mine... some visitors asked about the 2-brm unit facing, agents told them those units are facing the park. good view. You know what, those units are all facing HDB and its only 50m away. Now, all the 2-brm units hav been fully sold. :scared-4: What will you feel if you only realize your unit is facing HDB when TOP? :tsk-tsk:

etml
24-03-09, 13:21
Exactly! i hv already laid all my cards on the table. Told them this is the unit i want and this is my final offer. Take it or leave it. if ok i signed a cheque right away if not i'll just walk right out....and thats what we did :cool: But at the door our friend still small trying asking why i don't want to consider that "garden view" unit....die die want his comm...give up! Anyway eventually i managed to get the msg across, i only want the best or nothing at all. He stopped bugging me.

Just rmbr something funny. I was asking abt the mrt noise and we were standing inside one of the showflats. That joker who told me that the washing machine is a rubbish chute replied "oh don't worry u won't hear it at all...see now we can't hear a thing rite?" Hello...we were inside the aircon showflat all enclosed....of course cannot hear lah. :doh:

Acer
24-03-09, 13:33
all agent will promote on good points and hide all bad points

they telling white lies.....

If we agent one day , Im sure we will do the same as them lor

The key points is do your homework....

noblebaby
24-03-09, 13:44
all agent will promote on good points and hide all bad points

they telling white lies.....

If we agent one day , Im sure we will do the same as them lor

The key points is do your homework....

there are also good agents out there... not all are bad.

etml
24-03-09, 13:58
i agree there are some agents around. But hiding the bad pts and passing off bad units as gd ones is definitely unethical and not just telling white lies. white lies is when u are doing it for the other parties interest hor...

etml
24-03-09, 14:02
so yes like I've said earlier. onus is on us to do our own homework. buying property is a big commitment. don't be led by others or agents for that matter :)

shespawn
25-03-09, 22:32
When i went to view the showflat, the agent tell me, got this got that. blah blah. but we all know what should have and what shouldn't, but we still go ahead to buy. After all, interior can be changed, whereas location, facing, surroundings are external factors which we can't decide. There are bound to be good and bad agents, just whether we want to be fools to be taken for a ride for.

peterng8
26-03-09, 20:33
When i went to view the showflat, the agent tell me, got this got that. blah blah. but we all know what should have and what shouldn't, but we still go ahead to buy. After all, interior can be changed, whereas location, facing, surroundings are external factors which we can't decide. There are bound to be good and bad agents, just whether we want to be fools to be taken for a ride for.


Hi, it is Ok to have the rubbish chute outside...

usually fumigation will be conducted weekly of the rubbish chute, and mamgt office will place circular to remind resident to seal up the rubbish chute with tape to prevent smell or insect from getting into your unit due to fumigation, so if the rubbish chute is outside and not far from unit, it is still acceptable...my opinion...

Double Bay so far is the best in facilities compared to MIcasa, Caspian which I have visited...just the 5 story waterfall and elevated jacuzzi are already so alluring...not to mention others which are additonal facilities to the already condo full facilities...good choice of buying for own stay...

etml
27-03-09, 13:04
Hi, it is Ok to have the rubbish chute outside...

usually fumigation will be conducted weekly of the rubbish chute, and mamgt office will place circular to remind resident to seal up the rubbish chute with tape to prevent smell or insect from getting into your unit due to fumigation, so if the rubbish chute is outside and not far from unit, it is still acceptable...my opinion...

Double Bay so far is the best in facilities compared to MIcasa, Caspian which I have visited...just the 5 story waterfall and elevated jacuzzi are already so alluring...not to mention others which are additonal facilities to the already condo full facilities...good choice of buying for own stay...

You seems to hv a lot of nice things to say abt DB. Are u planning to get one unit for youself?

peterng8
27-03-09, 20:33
You seems to hv a lot of nice things to say abt DB. Are u planning to get one unit for youself?


Oh i think it is personal taste and likings play an important part, for me, most important to me is the faciltiies and the overall aesthetic view which I feel DB is great....but this may not appeal to others...so it more of personal opinion which I believe buyer of DB share some similar view in one way or the others...maybe that is why every condo has a theme to appeal different people...my personal view only....

etml
27-03-09, 20:47
Yes I already know that DB appeals to you. But I'm just curious to know if u are a potential buyer if u don't mind telling. I myself is quite keen but it seems that none of the guys in this thread actually bought a unit. Just like to hear from ppl who actually bought or seriously considering buying what they like abt DB.

peterng8
29-03-09, 11:03
Yes I already know that DB appeals to you. But I'm just curious to know if u are a potential buyer if u don't mind telling. I myself is quite keen but it seems that none of the guys in this thread actually bought a unit. Just like to hear from ppl who actually bought or seriously considering buying what they like abt DB.


Hi, buying condo is a personal thing, I believe it is good to share view and opinion on what our likes or dislikes as mentioned.. If conditions under your consideration for purchasing are right for you, I trust that u can decide whether to go ahead to purchase...

shespawn
30-03-09, 09:43
Yes I already know that DB appeals to you. But I'm just curious to know if u are a potential buyer if u don't mind telling. I myself is quite keen but it seems that none of the guys in this thread actually bought a unit. Just like to hear from ppl who actually bought or seriously considering buying what they like abt DB.

Yah I bought already. 2+1 bedroom. why didn't you buy yet?

etml
30-03-09, 10:43
Yah I bought already. 2+1 bedroom. why didn't you buy yet?

Congrats! Did u get the earlybird discounts? I made an offer but was rejected by them...

shespawn
30-03-09, 11:00
yah, was the 4th in Q on the soft launch. Dropped out after thinking the price is abit high, then went back in the evening to finally ink the deal, and still got the 3% discount. now it seems that they have marked up the price and without any discount. u getting 2+1 too?

etml
30-03-09, 11:56
yah, was the 4th in Q on the soft launch. Dropped out after thinking the price is abit high, then went back in the evening to finally ink the deal, and still got the 3% discount. now it seems that they have marked up the price and without any discount. u getting 2+1 too?

Since u though the px was high why did u buy it eventually? They haven't increased px but took away the disc. The initial fever has died down. This is only 3rd or 4th? wk after the launch, the showflat is already quite empty. On wkdays only a handful of buyers, even on wkends there are more agents than buyers. Im looking at 3+1. went to see WW and Livia, their prices are more attractive and rooms are bigger. They are also more open for negotiation and willing to entertain modification request. So now I'm deciding btw these 2

shespawn
30-03-09, 13:20
Since u though the px was high why did u buy it eventually? They haven't increased px but took away the disc. The initial fever has died down. This is only 3rd or 4th? wk after the launch, the showflat is already quite empty. On wkdays only a handful of buyers, even on wkends there are more agents than buyers. Im looking at 3+1. went to see WW and Livia, their prices are more attractive and rooms are bigger. They are also more open for negotiation and willing to entertain modification request. So now I'm deciding btw these 2

We did a recall of those projects that we visited before, like Casa Merah and WW, but none of the 2+1 or 2 bedrooms were given a favourable view. Even if it did, it was priced at 720psf, so with only 654psf (after IAS and 3% disc), I get a lap pool view, no afternoon sun, not near to mrt, I guess it's reasonable and affordable already. there maybe many genuine buyers like us, so I don't want to give up this unit just because of 10k difference. moreover, all 2+1 units are sold out already except for one very last one at stack 14.

etml
30-03-09, 17:54
We did a recall of those projects that we visited before, like Casa Merah and WW, but none of the 2+1 or 2 bedrooms were given a favourable view. Even if it did, it was priced at 720psf, so with only 654psf (after IAS and 3% disc), I get a lap pool view, no afternoon sun, not near to mrt, I guess it's reasonable and affordable already. there maybe many genuine buyers like us, so I don't want to give up this unit just because of 10k difference. moreover, all 2+1 units are sold out already except for one very last one at stack 14.

Most importantly u must like the plc and as long as u find it affordable its fine. I would love to become you neighbour but too bad they don't want my business. now I'm leaning more towards livia cos last wk they launched 4 new stacks with prices lowered by as much as 20%. For the same price at DB I can get a 4bedrm instead.

UserName
30-03-09, 23:57
so yes like I've said earlier. onus is on us to do our own homework. buying property is a big commitment. don't be led by others or agents for that matter :)


Yes, so stop running down the agent here. YOu never know when someone dear to you has to be an agent and has to be ridiculed like this elsewhere

Some buyers really take the saying "customer is king" seriously. Sadly, it does not sink into them that the agents who attend to them will really try their utmost to secure the best deal for them. If cannot be done, it's really not their fault. There is a price to everything, so if you can't pay the price, why harp on it here

etml
31-03-09, 01:52
Yes, so stop running down the agent here. YOu never know when someone dear to you has to be an agent and has to be ridiculed like this elsewhere

Some buyers really take the saying "customer is king" seriously. Sadly, it does not sink into them that the agents who attend to them will really try their utmost to secure the best deal for them. If cannot be done, it's really not their fault. There is a price to everything, so if you can't pay the price, why harp on it here

You might hv misinterpreted the postings here. They were mostly pinpointing the accuracy of info given by agents and them not being upfront with bad pts of the properties. Nothing was mentioned abt them not being able to secure the best deal for buyers, wonder where u got that from?
Then again, do agents always secure the best deal for buyers or sellers? I shall not make any comments...
If u think I'm running down on agents bcos my agent cldnt close the deal for me then u must hv mistaken. In fact I'm very happy to meet one nice agent by chance who had been very truthful and helpful with my negotiation with the developer. I must say he is one of the best agents I've dealt with.

If someone close to me were to become an agent I will tell them honesty is the way to go. If u are an agent I will say the same to u. peace.

shespawn
31-03-09, 09:59
Most importantly u must like the plc and as long as u find it affordable its fine. I would love to become you neighbour but too bad they don't want my business. now I'm leaning more towards livia cos last wk they launched 4 new stacks with prices lowered by as much as 20%. For the same price at DB I can get a 4bedrm instead.

then maybe you should be more patient by waiting for the 3 bedroom prices in DB to drop. They are left with alot of 4bedrooms. I believe they probably will slash their prices 6 months down the road, just like Livia too. At least Simei is a better location than Pasir Ris, with the Changi business park and 4th university, you probably get a better rental yield if you decide to rent out. how long have you been searching for your 3 bedroom?

isaaclim
31-03-09, 11:30
then maybe you should be more patient by waiting for the 3 bedroom prices in DB to drop. They are left with alot of 4bedrooms. I believe they probably will slash their prices 6 months down the road, just like Livia too. At least Simei is a better location than Pasir Ris, with the Changi business park and 4th university, you probably get a better rental yield if you decide to rent out. how long have you been searching for your 3 bedroom?

Livia is definitely a better project for own stay. If you buy for rental investment, go for 1 or 2 rooms in DBR. Rental yield is higher + easier to tenant out. But provided you don't got it at high price.

noblebaby
31-03-09, 11:54
Most importantly u must like the plc and as long as u find it affordable its fine. I would love to become you neighbour but too bad they don't want my business. now I'm leaning more towards livia cos last wk they launched 4 new stacks with prices lowered by as much as 20%. For the same price at DB I can get a 4bedrm instead.

wow, lowered by 20% by Livia? at what psf? mind to share?

what is your budget? 3brm at WF can get at $760k+

peterng8
31-03-09, 20:26
Livia is definitely a better project for own stay. If you buy for rental investment, go for 1 or 2 rooms in DBR. Rental yield is higher + easier to tenant out. But provided you don't got it at high price.


I agree with you.. same view here....

etml
31-03-09, 23:26
Im buying for own stay and have only started looking recently thinking that prices should be quite attractive now. Prices have indeed gone down from the initial launches last yr but generally they are sill on the high side. It seems that developers are only releasing the "not so good" units at attractive prices but keeping the better ones for later when the mkt picks up. Im also keeping my options open in case i lose my job or something :scared-3: and need to sell or rent it out. So by not paying too high a price it will still hv some upside, in a way minimise my risk. I guess i can still wait a little longer since the bigger units are not really selling. unlike the 2 bedrms....always the 1st to go.

noblebaby: Not sure if its really 20% but thats what the agent told me lah. Depending on facing and floor, some units can get at under 600psf. But there's a catch, u can't choose the color scheme.

Livia is by CDL so i supposed quality should be quite gd rite? Their lighting even hv dimming function and comes with remote control....nice!

peterng8
18-04-09, 09:05
TOP is around 2015...

jitkiat
23-04-09, 11:53
TOP is around 2015...

That is the legal completion date. Estimated TOP is Q4 2013.

If anybody likes the DBR's location and convenience, you should buy now instead of dragging on your feet. The following are the reasons:

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First reason is location and the availability. Take me for example, we die die must stay in Simei close to MRT as we are spoilt by the convenience of Eastpoint shopping centre and MRT. And my wife dun care if she can save 50,000 by staying in Casa Merah or Pasir Ris or wait for a flipper to sell his TOP condo at bargain anywhere else.



The old condos near Simei MRT only Modena and Tropica Spring, very few transactions in the last 2 years (go and check URA) and nobody is selling at bargain too (guess all the owners are not flippers). So our only choice is DBR but they only have 10 2-bedroom units left (our budget does not strech to 3-bedroom, if 3 bedroom, can still wait for a potential 5-10% drop if economy gets worse next year). 2-bedroom is popular bcos rental yield is high and easy to rent out. So do we have a choice? If we wait for another 6 months, then no more new condo for us in Simei.

Second reason is price, If you think price is high now, how about those who bought in 1996 and 2007 when private property index is at 180+. Mind you, I am a technical chartist, the current index at 140 is a good entry point as it is at the long term support line. Yah, there is a chance it will go lower but it has an equal chance that it will hold. Situation for mass market condo is unlike the 1997 crash when HDB has too many excess units. Today, HDB BTO projects are used to control supplies very effectively. And new flats in mature estates are highly sought after (see the response to Simei DBSS, The Peak, Cityview@Boon Keng u get the idea). Most DBSS flats selling prices are above 500,000 which is pretty close to a 2 bedroom mass market condo anyway, some first timers choose to buy HDB bcos they can get the grant, otherwise, they could have easily stretches to 600k+ to get a condo as they have small family typically. This will provide enough support from below to reduce the downside risk of mass market condo price crash. Even recession is prolonged, may be only another 10% downside risk.




Another plus point is the interest absorption scheme, even you pay 2% extra, the risk of interest rate hike till TOP and about 50% of the interest are actually absored by the developer. So the furhter the TOP and any delay in TOP is only to your advantage as your CPF will grow at 2.5% from now till TOP. I like DBR top date of Dec 2013, this gives me another 4 years to accummulate CPF and cash to do loan conversion at TOP. If I buy resale condo, I don't have this flexibility and worse still, I must rush to sell off my existing HDB.

shespawn
23-04-09, 13:41
That is the legal completion date. Estimated TOP is Q4 2013.

If anybody likes the DBR's location and convenience, you should buy now instead of dragging on your feet. The following are the reasons:


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First reason is location and the availability. Take me for example, we die die must stay in Simei close to MRT as we are spoilt by the convenience of Eastpoint shopping centre and MRT. And my wife dun care if she can save 50,000 by staying in Casa Merah or Pasir Ris or wait for a flipper to sell his TOP condo at bargain anywhere else.



The old condos near Simei MRT only Modena and Tropica Spring, very few transactions in the last 2 years (go and check URA) and nobody is selling at bargain too (guess all the owners are not flippers). So our only choice is DBR but they only have 10 2-bedroom units left (our budget does not strech to 3-bedroom, if 3 bedroom, can still wait for a potential 5-10% drop if economy gets worse next year). 2-bedroom is popular bcos rental yield is high and easy to rent out. So do we have a choice? If we wait for another 6 months, then no more new condo for us in Simei.



Second reason is price, If you think price is high now, how about those who bought in 1996 and 2007 when private property index is at 180+. Mind you, I am a technical chartist, the current index at 140 is a good entry point as it is at the long term support line. Yah, there is a chance it will go lower but it has an equal chance that it will hold. Situation for mass market condo is unlike the 1997 crash when HDB has too many excess units. Today, HDB BTO projects are used to control supplies very effectively. And new flats in mature estates are highly sought after (see the response to Simei DBSS, The Peak, Cityview@Boon Keng u get the idea). Most DBSS flats selling prices are above 500,000 which is pretty close to a 2 bedroom mass market condo anyway, some first timers choose to buy HDB bcos they can get the grant, otherwise, they could have easily stretches to 600k+ to get a condo as they have small family typically. This will provide enough support from below to reduce the downside risk of mass market condo price crash. Even recession is prolonged, may be only another 10% downside risk.





Another plus point is the interest absorption scheme, even you pay 2% extra, the risk of interest rate hike till TOP and about 50% of the interest are actually absored by the developer. So the furhter the TOP and any delay in TOP is only to your advantage as your CPF will grow at 2.5% from now till TOP. I like DBR top date of Dec 2013, this gives me another 4 years to accummulate CPF and cash to do loan conversion at TOP. If I buy resale condo, I don't have this flexibility and worse still, I must rush to sell off my existing HDB.





shared the same sentiments as you. 3 - 4 years of CPF contribution is pretty substantial when it comes to loan redemption.

jitkiat
23-04-09, 16:01
shared the same sentiments as you. 3 - 4 years of CPF contribution is pretty substantial when it comes to loan redemption.

And quoted from research from Citibank analyst:

The decline in 1Q09 has been largely in-line with our expectations. Thus, we
are maintaining our views that prices of the mid to high-end segment will
decline 35% in 2009. After the 1Q09 decline, we expect prices in the mid to
high end to deteriorate by another 20% while the downside for the mass
market is likely to be capped at around 5%.

peterng8
24-04-09, 09:41
TOP is around 2015...


expected date of TOP 30 June 2015

expected date of legal completion 30 June 2018


Source:As stated in the booklet distributed at the Double Bay show room by agent

acuuracy: Do not know just quote from the booklet

peterng8
24-04-09, 09:43
That is the legal completion date. Estimated TOP is Q4 2013.

If anybody likes the DBR's location and convenience, you should buy now instead of dragging on your feet. The following are the reasons:


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First reason is location and the availability. Take me for example, we die die must stay in Simei close to MRT as we are spoilt by the convenience of Eastpoint shopping centre and MRT. And my wife dun care if she can save 50,000 by staying in Casa Merah or Pasir Ris or wait for a flipper to sell his TOP condo at bargain anywhere else.



The old condos near Simei MRT only Modena and Tropica Spring, very few transactions in the last 2 years (go and check URA) and nobody is selling at bargain too (guess all the owners are not flippers). So our only choice is DBR but they only have 10 2-bedroom units left (our budget does not strech to 3-bedroom, if 3 bedroom, can still wait for a potential 5-10% drop if economy gets worse next year). 2-bedroom is popular bcos rental yield is high and easy to rent out. So do we have a choice? If we wait for another 6 months, then no more new condo for us in Simei.



Second reason is price, If you think price is high now, how about those who bought in 1996 and 2007 when private property index is at 180+. Mind you, I am a technical chartist, the current index at 140 is a good entry point as it is at the long term support line. Yah, there is a chance it will go lower but it has an equal chance that it will hold. Situation for mass market condo is unlike the 1997 crash when HDB has too many excess units. Today, HDB BTO projects are used to control supplies very effectively. And new flats in mature estates are highly sought after (see the response to Simei DBSS, The Peak, Cityview@Boon Keng u get the idea). Most DBSS flats selling prices are above 500,000 which is pretty close to a 2 bedroom mass market condo anyway, some first timers choose to buy HDB bcos they can get the grant, otherwise, they could have easily stretches to 600k+ to get a condo as they have small family typically. This will provide enough support from below to reduce the downside risk of mass market condo price crash. Even recession is prolonged, may be only another 10% downside risk.





Another plus point is the interest absorption scheme, even you pay 2% extra, the risk of interest rate hike till TOP and about 50% of the interest are actually absored by the developer. So the furhter the TOP and any delay in TOP is only to your advantage as your CPF will grow at 2.5% from now till TOP. I like DBR top date of Dec 2013, this gives me another 4 years to accummulate CPF and cash to do loan conversion at TOP. If I buy resale condo, I don't have this flexibility and worse still, I must rush to sell off my existing HDB.






very informative analysis, thank you...

peterng8
24-04-09, 09:53
And quoted from research from Citibank analyst:

The decline in 1Q09 has been largely in-line with our expectations. Thus, we
are maintaining our views that prices of the mid to high-end segment will
decline 35% in 2009. After the 1Q09 decline, we expect prices in the mid to
high end to deteriorate by another 20% while the downside for the mass
market is likely to be capped at around 5%.


TOP has different degree of impact on those buying for own stay and for those buying for investment....maybe...

jitkiat
24-04-09, 15:19
See attachment for the upcoming 4th university's permanent campus to be ready btn 2013-2015. The first instake is at 2011 with 500 students in a temporary campus yet to be determined. The eventual intake of students will be 2,500 (dun know when). Another plus point is some of the banks (DBS, Standchart, Citi, Barclays) are moving some of their operations to Changi Biz Park besides Expo and there is a new shopping centre cum hotel project by FraserCenterpoint there. Economy may slow in next few years, at least these 2 developments will bring in demand for housing at Simei. Therefore from a rental perpective, DBR has more potential than other mass market condo project in the east. Of course, it is already reflected in the psf pricing of DBR.

peterng8
24-04-09, 16:14
See attachment for the upcoming 4th university's permanent campus to be ready btn 2013-2015. The first instake is at 2011 with 500 students in a temporary campus yet to be determined. The eventual intake of students will be 2,500 (dun know when). Another plus point is some of the banks (DBS, Standchart, Citi, Barclays) are moving some of their operations to Changi Biz Park besides Expo and there is a new shopping centre cum hotel project by FraserCenterpoint there. Economy may slow in next few years, at least these 2 developments will bring in demand for housing at Simei. Therefore from a rental perpective, DBR has more potential than other mass market condo project in the east. Of course, it is already reflected in the psf pricing of DBR.


a good place for either for investment or for own stay...east has DB, west has caspian at this moment...facilities wise DB wins completely....TOP for caspian Mid 2013...for DB is 2015...

Dev. is U/C at changi side while JE is still under blueprint stage..hope it will stat soon...

0412
25-04-09, 14:31
a good place for either for investment or for own stay...east has DB, west has caspian at this moment...facilities wise DB wins completely....TOP for caspian Mid 2013...for DB is 2015...

Dev. is U/C at changi side while JE is still under blueprint stage..hope it will stat soon...

yup,both projects have its pulling power..

jitkiat
25-04-09, 18:58
yup,both projects have its pulling power..

I have checked Modena/Tropica Spring transaction prices at 2002/2003 bottom. 2 bedroom transacted at 550-600psf, 3 bedroom transacted at 500-550psf. Even we have a prolonged recession, I don't think prices will go back to that level becos:

1. Inflation: official inflation rate at 2008 is ridiculously rated at 6.5%. One pack of rice used to be $8 a few years ago, now cost $13 !!! To me, the last few year inflation is at least 10-15%, just look at the price of one cup of coffee and MRT/bus fare.

2. Investment potential - at that time, nothing exciting, Changi Biz Park is a dead park, no 4th uni etc. The current tenants of Modena/Tropica Spring are mainly Japanese, Korean, pilots/stewardess, doctors/nurses at Changi Hospital, next time it will be lecturers from 4th uni, IT managers from Changi Biz Park

3. Real income growth in last 5 years of 4-5% annually

Therefore, I have decided to buy a unit

peterng8
25-04-09, 19:40
I have checked Modena/Tropica Spring transaction prices at 2002/2003 bottom. 2 bedroom transacted at 550-600psf, 3 bedroom transacted at 500-550psf. Even we have a prolonged recession, I don't think prices will go back to that level becos:

1. Inflation: official inflation rate at 2008 is ridiculously rated at 6.5%. One pack of rice used to be $8 a few years ago, now cost $13 !!! To me, the last few year inflation is at least 10-15%, just look at the price of one cup of coffee and MRT/bus fare.

2. Investment potential - at that time, nothing exciting, Changi Biz Park is a dead park, no 4th uni etc. The current tenants of Modena/Tropica Spring are mainly Japanese, Korean, pilots/stewardess, doctors/nurses at Changi Hospital, next time it will be lecturers from 4th uni, IT managers from Changi Biz Park

3. Real income growth in last 5 years of 4-5% annually

Therefore, I have decided to buy a unit


good choice.....

0412
25-04-09, 23:35
I have checked Modena/Tropica Spring transaction prices at 2002/2003 bottom. 2 bedroom transacted at 550-600psf, 3 bedroom transacted at 500-550psf. Even we have a prolonged recession, I don't think prices will go back to that level becos:

1. Inflation: official inflation rate at 2008 is ridiculously rated at 6.5%. One pack of rice used to be $8 a few years ago, now cost $13 !!! To me, the last few year inflation is at least 10-15%, just look at the price of one cup of coffee and MRT/bus fare.

2. Investment potential - at that time, nothing exciting, Changi Biz Park is a dead park, no 4th uni etc. The current tenants of Modena/Tropica Spring are mainly Japanese, Korean, pilots/stewardess, doctors/nurses at Changi Hospital, next time it will be lecturers from 4th uni, IT managers from Changi Biz Park

3. Real income growth in last 5 years of 4-5% annually

Therefore, I have decided to buy a unit


wonderful breakdown...good choice :cheers1:

jitkiat
26-04-09, 00:26
good choice.....

Free Analysis for ppl who are interested:

1. Difference per floor is 4,000

2. Prices differ a lot (can be 50-80psf) depending on facing. For example, 2-bedroom stack 31, 32 are priced lower as they are facing Simei Geen's multi-storey carpark. Stack 27/28 (3 bedroom) is cheaper bcos directly facing Simei St 4. So is stack 53, 54, 49, 50 facing MRT directly.

4. The best facing ones are all reserved for larger units 3+1 and 4 room

5. Most 2-bedroom facing North West, will get afternoon sun or noise from MRT or Simei St 4. The best one is stack 05, 06, 09, 10 (2+1) but these selling like hotcakes during the launch. By end of this month, all 2 bedrooms should have fully sold out.

6. They have 3% for the 1st 120 buyers. I think prices have gone up at least 1-3% since launch.

7. Expect to pay around 700psf for a 2 bedroom at high floor and reasonable facing, 650psf for a 3 bedroom. You should budget 650-700k for a 2 bedroom, 800-850k for a 3 bedroom.

8. They sold 264 units in March. My best guess is that they sell at least another 100+ in April which means half sold out in less than 2 months. I expect they will sell out most 3 bedroom units by year end if the recent stock market bottom is confirmed. I oso expect the price to track stock market closely on the upside. Any break of STI resistance at 1950 with target of 2,400 will probably see the price going up by another 50psf for the 3 bedder.

The key thing is their breakeven price is 600psf ... since the 3+1, 4, penthouse are selling below 600psf ... they have to make profit from 2/3 bedroom units, 2 bedroom (18 stacks, about 200 units, 630-720psf) and the 3 bedroom (20 stacks, about 240 units,620-700psf). Since estimated TOP is end 2003, legal completion is 2005, the probability of them lower their price is slim ...

heutistmeintag
27-04-09, 03:15
Since estimated TOP is end 2003, legal completion is 2005, the probability of them lower their price is slim ...

is there a typo? TOP in 2003 or 2013?

However, very good post with detailed analysis. :cool-punk-headbange

shespawn
27-04-09, 09:42
I have checked Modena/Tropica Spring transaction prices at 2002/2003 bottom. 2 bedroom transacted at 550-600psf, 3 bedroom transacted at 500-550psf. Even we have a prolonged recession, I don't think prices will go back to that level becos:

1. Inflation: official inflation rate at 2008 is ridiculously rated at 6.5%. One pack of rice used to be $8 a few years ago, now cost $13 !!! To me, the last few year inflation is at least 10-15%, just look at the price of one cup of coffee and MRT/bus fare.

2. Investment potential - at that time, nothing exciting, Changi Biz Park is a dead park, no 4th uni etc. The current tenants of Modena/Tropica Spring are mainly Japanese, Korean, pilots/stewardess, doctors/nurses at Changi Hospital, next time it will be lecturers from 4th uni, IT managers from Changi Biz Park

3. Real income growth in last 5 years of 4-5% annually

Therefore, I have decided to buy a unit

so have you buy? was there yesterday, just go there see how many units left. agent told me they will be doing the groundworks this september. So exciting!
i also kaypoh go take a look at Parc Lumiere, and it's 90% sold! singaporeans are rich man.

venus
27-04-09, 10:04
How many units sold so far? Heard they raised their price is that true?

shespawn
27-04-09, 10:09
How many units sold so far? Heard they raised their price is that true?

So far i heard more than 350 units, as for price, i didn't ask, because i was there just to see how many units left. i also heard from my agent they were increasing the price for that weekend.

jitkiat
27-04-09, 10:25
So far i heard more than 350 units, as for price, i didn't ask, because i was there just to see how many units left. i also heard from my agent they were increasing the price for that weekend.

I was lucky to get a high floor 2-bedroom 1 week ago. Yesterday only one unit left, 4th floor on the stack facing Simei Green multi-storey carpark. The cheaper 3-bedrooms (those with absolute price below 820k) also almost all sold out.

shespawn
27-04-09, 10:43
I was lucky to get a high floor 2-bedroom 1 week ago. Yesterday only one unit left, 4th floor on the stack facing Simei Green multi-storey carpark. The cheaper 3-bedrooms (those with absolute price below 820k) also almost all sold out.

mine is stack 6 facing the lap pool 2+1. in 4 years time, we probably can start a forum like quartz and combine to get cheap deals from buying home appliances to renovations!

jitkiat
27-04-09, 12:14
mine is stack 6 facing the lap pool 2+1. in 4 years time, we probably can start a forum like quartz and combine to get cheap deals from buying home appliances to renovations!

Congratualations, those who bought during launch can enjoy discounts and lower psf. I was a bit late but better late than never. 2+1 all gone liao so I got one at stack 4. Hope they can sell off their 3-bedrooms fast. The only thing that get me worried is this swine flu pandemic ...if it is like SARS, the economic recovery will slow down.

etml
27-04-09, 13:36
Since u hv already bought don't worry so much lah. TOP is still long way to go, just relax and start thinking abt how to do up your new hse. There will always be gd times or bad time, sars, bird flu and now swine flu, can't help it. As long as u are buying within your means there's nothing to worry abt. Congrats!

jitkiat
27-04-09, 14:19
Since u hv already bought don't worry so much lah. TOP is still long way to go, just relax and start thinking abt how to do up your new hse. There will always be gd times or bad time, sars, bird flu and now swine flu, can't help it. As long as u are buying within your means there's nothing to worry abt. Congrats!

Thank you for your kind words.

Read on The Edge Singapore about Changi Biz Park:

- The 340,000 sq ft DBS Asia Hub , target to be completed by Oct 2009, DBS signed 10 year lease with Ascendas for the facility which can house up to 2,700 people
- 225,000 sq ft Standad Chart building completed next year, sign lease 15 years
- 400,000 sq ft Citibank buildings, 1st completed this year, another in Q42010, to house up to 4,000 staff
- Credit Suisse, 200,000 sq ft, 2 buildings

shespawn
27-04-09, 14:33
with all these upcoming projects, I do hope that they will revamp simei eastpoint too.

jitkiat
27-04-09, 14:50
with all these upcoming projects, I do hope that they will revamp simei eastpoint too.

I stay in Simei for 9 years liao. I prefer Eastpoint anytime compared to malls in Tampines, at least you can find a seat in the foodcourt, Starbucks or Hanis Cafe easily even during lunch time. Initially they have cinema and Best Denki, all closed a few years ago. With the upcoming Fraser Centrepoint mall in Expo and the current new Tampines One mall in Tampiness as well as a new mall in Bedok, I think unlikely Eastpoint will have any exciting development. However, I do expect the shops to evolve to cater for higher-income earners and foreigners when 4th UNI & Changi BIz park is ready.

LongMan
27-04-09, 17:21
Thank you for your kind words.

Read on The Edge Singapore about Changi Biz Park:

- The 340,000 sq ft DBS Asia Hub , target to be completed by Oct 2009, DBS signed 10 year lease with Ascendas for the facility which can house up to 2,700 people
- 225,000 sq ft Standad Chart building completed next year, sign lease 15 years
- 400,000 sq ft Citibank buildings, 1st completed this year, another in Q42010, to house up to 4,000 staff
- Credit Suisse, 200,000 sq ft, 2 buildings

Don't get too optimistic. As far as I know (correct me if I'm wrong), Changi Biz Park is mostly to cater to their IT/Technical personal. Most of the floor space will be reserved to house equipment and servers.

kEN9170
27-04-09, 17:26
Don't get too optimistic. As far as I know (correct me if I'm wrong), Changi Biz Park is mostly to cater to their IT/Technical personal. Most of the floor space will be reserved to house equipment and servers.

most of the bank staffs re-located to CBP are back office or IT operation staffs as well as their IT server equipments. Those front office staffs (eg. traders), big bosses or profit centre are still located in CBD district.

jitkiat
27-04-09, 17:49
most of the bank staffs re-located to CBP are back office or IT operation staffs as well as their IT server equipments. Those front office staffs (eg. traders), big bosses or profit centre are still located in CBD district.

Ya, big boss will not stay in Simei lah. At least I can sell off my Simei HDB at better price a few years down the road. BTW, resale HDB price is not really expensive now, someone bought an HDB flat in Q41995 (index was at 102) lose $$$ if you factor in CPF interest of 2.5% (index is now at 13X). I wonder who a hell is willing to sell his HDB at this kind of below CPF return over 14 years. Guess only those who bought flats in Punggol/Sengkang at 2002/2003 can make a little $$$ by selling now.

kEN9170
27-04-09, 18:08
Ya, big boss will not stay in Simei lah. At least I can sell off my Simei HDB at better price a few years down the road. BTW, resale HDB price is not really expensive now, someone bought an HDB flat in Q41995 (index was at 102) lose $$$ if you factor in CPF interest of 2.5% (index is now at 13X). I wonder who a hell is willing to sell his HDB at this kind of below CPF return over 14 years. Guess only those who bought flats in Punggol/Sengkang at 2002/2003 can make a little $$$ by selling now.

anyway, the most important thing is that u must like the project you bot.
the rest are not that important.

peterng8
27-04-09, 19:40
Ya, big boss will not stay in Simei lah. At least I can sell off my Simei HDB at better price a few years down the road. BTW, resale HDB price is not really expensive now, someone bought an HDB flat in Q41995 (index was at 102) lose $$$ if you factor in CPF interest of 2.5% (index is now at 13X). I wonder who a hell is willing to sell his HDB at this kind of below CPF return over 14 years. Guess only those who bought flats in Punggol/Sengkang at 2002/2003 can make a little $$$ by selling now.


I think the facilities are alluring enough to stay in DB...as long as u like it...it will be worth ever cent....

noblebaby
27-04-09, 22:36
I think the facilities are alluring enough to stay in DB...as long as u like it...it will be worth ever cent....

the actual structure will be ready in 4 years... looks good on paper, but actual thing might be vry cramp, since so many unit...

jitkiat
27-04-09, 22:53
the actual structure will be ready in 4 years... looks good on paper, but actual thing might be vry cramp, since so many unit...

Land size is slighter bigger than Modena + Tropica Spring

Modena - 230
Tropica Spring - 242

I can imagine if it is fully occupied, it might be quite crowded at the main pool.

peterng8
27-04-09, 23:06
Land size is slighter bigger than Modena + Tropica Spring

Modena - 230
Tropica Spring - 242

I can imagine if it is fully occupied, it might be quite crowded at the main pool.


don't worry, I reckon it would be more than enough for 646 units...look at the pool and the facilities..

u will believe if u visit some of the mass market condo around singapore....

etml
27-04-09, 23:09
It's the same for all projects, the actual thing always turn out diff from the pictures (artist's impresson) on the brochures :rolleyes:

As for the swimming pool...initially sure crowded. But as time goes by, it will get less and less crowded :D

peterng8
27-04-09, 23:25
It's the same for all projects, the actual thing always turn out diff from the pictures (artist's impresson) on the brochures :rolleyes:

As for the swimming pool...initially sure crowded. But as time goes by, it will get less and less crowded :D


Yeah quite true...somehow diffrent by some percentage..it is better to refer to the sales agreement where what is states will most likely be there...

jitkiat
30-04-09, 01:07
Frankly speaking, why would people buy ground floor with PES ?? I know it is a lot cheaper on a psf but that is due to the extra PES space which costs next to nothing to developer ?? Gardening ?

And the stack 4 psf price seems to be the most expensive (~700psf) compared to the rest ... any reason why?

heutistmeintag
30-04-09, 12:05
Frankly speaking, why would people buy ground floor with PES ??

I would if I could coz I like plants, koi ponds and a place for my dog to run about. :)

jitkiat
03-05-09, 19:48
350 out of 646 and counting ... 2-room all sold out, 3 room units moving fast now. And looks like HDB resale prices in Simei stay resilient (could be an after effect of Parc Lumier DBSS)

Flat Type:5 Room Street Name:Simei St 4 Resale Approval Date:Apr 2009 Total number of records found = 1 Click on the http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif to sort the records according to the categories shown.HDB TownBlock http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif Storey http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif Floor Area (sqm) /
Flat Model http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif Lease
Commence
Date http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif Resale
Price http://services2.hdb.gov.sg/webapp/BB33RTIS/images/sort.gif Tampines22701 to 05122.00
Improved1988$448,000.00

jitkiat
07-05-09, 12:34
Looks like the price o DBR is at the same level as year 2000 when private residential index hit 140. But in 2001/2 NASDAQ crash and 2003 SARS depress the price further another 100psf lower.

MODENA CONDOMINIUM SIMEI STREET 4 18 90 690150 712.41 01-Jul-00 MODENA CONDOMINIUM SIMEI STREET 4 18 144 940000 606.45 01-Jun-00 MODENA CONDOMINIUM SIMEI STREET 4 18 142 1065798 697.29 01-Jun-00 MODENA CONDOMINIUM SIMEI STREET 4 18 131 924621 655.73 01-May-00 MODENA CONDOMINIUM SIMEI STREET 4 18 131 915500 649.26 01-May-00 MODENA CONDOMINIUM SIMEI STREET 4 18 131 910000 645.36 01-May-00 MODENA CONDOMINIUM SIMEI STREET 4 18 129 770562 554.94 01-May-00 MODENA CONDOMINIUM SIMEI STREET 4 18 89 700000 730.7 01-May-00 MODENA CONDOMINIUM SIMEI STREET 4 18 89 680755 710.61 01-May-00

shespawn
12-05-09, 15:35
anyone know how many units left as of now?
I heard they are starting to do the groundworks in september 2009. is it true?

jitkiat
15-05-09, 12:33
anyone know how many units left as of now?
I heard they are starting to do the groundworks in september 2009. is it true?
URA data just released, 89 units sold in April so cummulative is 350. By now, the number should be close to 400.

cheerful
15-05-09, 14:12
URA data just released, 89 units sold in April so cummulative is 350. By now, the number should be close to 400.

Should be 89 & cummulative 350 rt ...

jitkiat
10-06-09, 16:43
Foundation work about to start. Area fenced up. Trees cut down except the giant tree reserved for the One Tree Island. The tree is much bigger than that shown in the brochure !!! :D Salute DP Architects to integrate probably the oldest tree in Simei into the project.

noblebaby
16-06-09, 09:47
if the tree grow larger, then the whole island will crack down... and crack in the swimming pool as well. :scared-3:


Foundation work about to start. Area fenced up. Trees cut down except the giant tree reserved for the One Tree Island. The tree is much bigger than that shown in the brochure !!! :D Salute DP Architects to integrate probably the oldest tree in Simei into the project.

shespawn
08-07-09, 16:26
went to double bay yesterday evening, it seems that they have closed the showflat. Are they keeping the unsold ones for TOP? or there's not much crowd, so they close?

jitkiat
13-07-09, 10:22
went to double bay yesterday evening, it seems that they have closed the showflat. Are they keeping the unsold ones for TOP? or there's not much crowd, so they close?

Not really, still open on weekends. Sales will slow once they exceed 70% (450) because some stacks 53/54/55/49/50 are too close to MRT track and stacks 33/34 are directly facing West so will be harder to sell.

shespawn
13-07-09, 11:08
been flipping through the newspaper, and they don't seem to advertise too. Livia is still advertising strongly even after 1 year.

jitkiat
13-07-09, 16:07
Citi’s new building is a business park facility located at 3 Changi Business Park Crescent.
The property is strategically located within Changi Business Park which is a short walking
distance to the Singapore Expo and Expo MRT station and easily accessible to other parts
of Singapore via major expressways. The nearby suburban towns of Tampines and Simei
offers the services of supporting industries in neighbouring estates as well as a ready labour
pool and urban conveniences like shopping malls, cinemas, parks and restaurants. The
property, with gross floor area of 21,023 sqm is fully pre-committed to Citi for a lease term of
7 years with an option to extend for another 3+3 years upon lease expiry. With this new
building, Citi will be consolidating its operations, technology and support service in a single
location, providing for greater synergies, as well as cater for future business growth. Citi will
begin relocating its employees from May 2009

=> Next year, DBS/Stanchart will follow. May provide rental support to mass market condos in Simei as well as boosting HDB resale value

cheerful
13-07-09, 18:01
eh .. last time DBS oso had some operations at Tampines mah, so this shouldn't be something new. But good that more moving east, so u muz be v happy now :D .. afterall, DBR (& etc. etc.) is not too far away ..


Citi’s new building is a business park facility located at 3 Changi Business Park Crescent.
=> Next year, DBS/Stanchart will follow. May provide rental support to mass market condos in Simei as well as boosting HDB resale value

jitkiat
13-07-09, 18:06
eh .. last time DBS oso had some operations at Tampines mah, so this shouldn't be something new. But good that more moving east, so u muz be v happy now :D .. afterall, DBR (& etc. etc.) is not too far away ..
I happen to work in IT/banking sector ... so naturally perfect for me loh :cheers1:.
I have one friend who stayed in West Coast but worked in CBP ... really tough travelling from West to East everyday

cheerful
13-07-09, 18:17
Oh .. so u technical analyst/chartist working in IT/banking sector .. alrt good for u! Hiphip hooray DBR ...
:D :D

jitkiat
13-07-09, 18:28
Oh .. so u technical analyst/chartist working in IT/banking sector .. alrt good for u! Hiphip hooray DBR ...
:D :D

My uncle got a Master in Maths ... quit his job in shipping industry long time ago to become a very successful trader purely based on T.A. learn a lot from him... guess I am following his footsteps :D

kEN9170
13-07-09, 23:17
Citi’s new building is a business park facility located at 3 Changi Business Park Crescent.

=> Next year, DBS/Stanchart will follow. May provide rental support to mass market condos in Simei as well as boosting HDB resale value

Most of the banks have relocated their middle/back office operations or IT teams to CBP...majority are local singaporean...dont think will boost the rental mkt.

jitkiat
13-07-09, 23:28
Most of the banks have relocated their middle/back office operations or IT teams to CBP...majority are local singaporean...dont think will boost the rental mkt.

Actually not yet. DBS/Stanchart and another Citibank building is yet to be ready. Barclays/Credit Sussie are already there but numbers quite small. There will be also 2 integrated development sites coming up, one by UE, another by FraserCenterPoint/Ascendas. Our governement would want office rental to stay low.

Majority Singaporeans probably true only for DBS. Nowadays a lot of foreign contract staff in IT. Anyway, hopefully Changi can become a more lively place when CBP has 20,000 working population in 2011 & 4th uni opens in 2013.

stanchan
13-07-09, 23:55
I work in one of the MNC logistics companies in CBP - I can tell you that 90% of my colleagues (expats and locals) do not live in the vicinty of Bedok/Tampines at all. Most travel more than 30 min by car from other parts of Singapore. Nobody feels compelled to get a place near Changi because it is perceived as a business park, not an appealing residential area. All the promises of MNCs relocating to CBP are hype created by developers and agents.

shespawn
14-07-09, 21:19
I work in one of the MNC logistics companies in CBP - I can tell you that 90% of my colleagues (expats and locals) do not live in the vicinty of Bedok/Tampines at all. Most travel more than 30 min by car from other parts of Singapore. Nobody feels compelled to get a place near Changi because it is perceived as a business park, not an appealing residential area. All the promises of MNCs relocating to CBP are hype created by developers and agents.

whether is it hype or not, the CBP is not just one of the potential rental opportunities, there's upcoming new university which will also increase the attractiveness of the rental yield there.

jitkiat
21-07-09, 15:36
CITIGROUP took the wraps off a new $100 million global operations and technology (O&T) hub here yesterday.
The 200,000 sq ft purpose-built facility at the Changi Business Park marks the completion of the first phase of a $220 million plan to centralise Citi’s global O&T units in Singapore.
Acting Minister for Information, Communications and the Arts Lui Tuck Yew, who officially opened the site, -said it allowed Citi to consolidate operations under one roof, resulting in greater synergy and propelling long-term business growth. ‘It is heartening to note that in the midst of the current economic situation, global companies like Citi remain committed to Singapore,’ he said.
The site – which also houses Citi’s 22nd and newest retail banking branch – is now home to 2,000 of its 8,000 staff in Singapore. Most are moving over from older O&T sites in nearby Tampines.
Industry watchers believe Citi’s latest investment in Singapore reaffirms the Republic’s position as a magnet for international financial institutions.
Citi Singapore country head Jonathan Larsen said the building represents a strategic investment in Singapore for Citi.
‘It reinforces Singapore’s role as Citi’s strategic hub for regional management, marketing, operations and technology globally,’ he said.
Mr Larsen’s comments comes a week after Citi surprised Wall Street with second-quarter profits of US$4.3 billion (S$6.25 billion). The bank – named Singapore’s best bank in the Euromoney Awards for Excellence 2009 last week – has been steadily increasing its presence in Singapore, especially in the retail banking space, since 2005.
Mr Larsen disclosed that the bank is working with local transport operator SMRT to expand its local network, especially into the heartland.
‘We plan to set up branches in the north of Singapore, in areas such as Yishun, Sembawang and Sengkang,’ he said.
The Changi hub acts as the new site for Citi’s major processing centres, including its regional service centre for securities and funds administration plus its regional cash processing management unit. It is also the bank’s global processing centre for its wealth management business and transaction services operations, and provides technology infrastructure support and data centre services for Citi’s worldwide operations.

=> Hope more buzz soon in CBP

cheerful
21-07-09, 15:42
Bingo! Somehow know tt u wld post this one :D :D (long live DBR ... heeeekee).

jitkiat
21-07-09, 15:49
Bingo! Somehow know tt u wld post this one :D :D (long live DBR ... heeeekee).
In stock investment, the biggest mistake is to have emotional attachment to the stock that you own ... for property you call home, it is tough not to be excited if you grow up in that area. Didn't you see WFW owner is so sure about yet-to-annouce MRT location at their doorsteps which will happen only in 2016 at least I can see CBP & 4th uni happen sooner:p

Met one uncle, he owns 3 properties (Simei Green EC, penthouse in DBR, landed property in Sunbird facing DBR) all within 200m radius ... he said got seaview for the penthse?! :beats-me-man:

cheerful
21-07-09, 15:57
Yup yup ... agree (home sweet home) ... & yesh, still remember that uncle story u mentioned ya ....:cheers2: :cheers2:

DBR also listed in the top 10 chart wor ... muz also say this like wat someone did at WFW thread mah. Good for u!

noblebaby
21-07-09, 23:42
Since the office rental keep dropping... many will move back to CDB... or not planning to move out so soon...

for the uni... dont think many want to study there... all also want to get into NUS, if not, only try luck at NTU...


Actually not yet. DBS/Stanchart and another Citibank building is yet to be ready. Barclays/Credit Sussie are already there but numbers quite small. There will be also 2 integrated development sites coming up, one by UE, another by FraserCenterPoint/Ascendas. Our governement would want office rental to stay low.

Majority Singaporeans probably true only for DBS. Nowadays a lot of foreign contract staff in IT. Anyway, hopefully Changi can become a more lively place when CBP has 20,000 working population in 2011 & 4th uni opens in 2013.

jitkiat
21-07-09, 23:56
Since the office rental keep dropping... many will move back to CDB... or not planning to move out so soon...

for the uni... dont think many want to study there... all also want to get into NUS, if not, only try luck at NTU...

Most banks (DBS, Citi, Stanchart) signed lease with Ascendas for 5 years ... ultimately it makes sense to house operation & IT in Changi to save cost over long term and consolidate support ppl into single location. This probably has more impact for HDB rental & resale prices.

According to Minister, The 4th uni tie up is with MIT so students must be on par with MIT top-notch standard, cannot anyhow take ... so does not mean apply will sure get :D knowing Singaporean, ai hao lian, sure many apply one :spliff:

Anyway, CBP & 4th uni will not affect condo price in the East as much as macro-enonomics like GDP growth, supply & demand etc. Oversuppy problem & US crash in 2011/2012 may kill does not matter whether got new MRT, new uni or whatever positive things you can think of.

Play stocks better, can get out immediately whenever u see sign of crash coming :scared-5: suburban condo if no taker, will be stuck for years liao

venus
27-07-09, 01:19
Has DBR increase their price yet?

jitkiat
27-07-09, 09:46
Stack 1, 8th floor 3br about 680psf. Going going gone soon.

venus
27-07-09, 12:25
was it selling at this price during the initial launch?

sabian
27-07-09, 12:54
Don't be twit and buy into the hype lah.

CBP is for housing the bank's cost centre. Go ask around. Are ops folks paid well? Why so many are FTs?

If these jobs pay well, why need so many FTs?

Even if I am working in Citi Ops, just because my office shifts does not mean I make plans to shift my home/ family as well.

The 4th Uni is likely to be better equipped with hostels than NUS/ NTU. If you are a foreign student, you want to rent cheaper hostel or nearby condo? The 4th Uni has space and the concept is different from SMU (city campus).

I don't see Clementi/PPanjang/BVista having extrordinary rental yield compared to others with NUS nearby.:sleep:

shespawn
27-07-09, 13:12
was it selling at this price during the initial launch?
early birds got 3% discount for the first 120. after that, they did increase the price and no more discount.



Don't be twit and buy into the hype lah.

CBP is for housing the bank's cost centre. Go ask around. Are ops folks paid well? Why so many are FTs?

If these jobs pay well, why need so many FTs?

Even if I am working in Citi Ops, just because my office shifts does not mean I make plans to shift my home/ family as well.

The 4th Uni is likely to be better equipped with hostels than NUS/ NTU. If you are a foreign student, you want to rent cheaper hostel or nearby condo? The 4th Uni has space and the concept is different from SMU (city campus).

I don't see Clementi/PPanjang/BVista having extrordinary rental yield compared to others with NUS nearby

Well, DBR don't need the CBP to drive up the rent, there are more factors to drive that up. Look at those along the MRt tracks condo developments, their prices also increased. Optima launching at more than 800psf. there's nothing there, except for the landed properties. Casa merah launched at crazy price in 2007, now people are also buying at more than 700psf. Last week, I was there to take a look, and there were many agents bringing buyers at night to look around. Mrt tracks noisy, but people is not detered by that.

oh, and Anna Gwee bought DBR too, does it meant anything?

forte
27-07-09, 14:12
Don't be twit and buy into the hype lah.

CBP is for housing the bank's cost centre. Go ask around. Are ops folks paid well? Why so many are FTs?

If these jobs pay well, why need so many FTs?

Even if I am working in Citi Ops, just because my office shifts does not mean I make plans to shift my home/ family as well.

The 4th Uni is likely to be better equipped with hostels than NUS/ NTU. If you are a foreign student, you want to rent cheaper hostel or nearby condo? The 4th Uni has space and the concept is different from SMU (city campus).

I don't see Clementi/PPanjang/BVista having extrordinary rental yield compared to others with NUS nearby.:sleep:

I think near international schools will have better rental prospects than local uni....as expats will tend to want to stay near international schools as will be more convenient for their kids...since local uni most probably cater more for Sporeans who will not shift house just for the uni or can stay in hostel.....

jitkiat
27-07-09, 14:27
I think near international schools will have better rental prospects than local uni....as expats will tend to want to stay near international schools as will be more convenient for their kids...since local uni most probably cater more for Sporeans who will not shift house just for the uni or can stay in hostel.....
I am more worried about S&P500 at 1,800 or 400 at the time this project TOP :scared-1: That determines whether the property is at 500psf or 1000psf, whether your rental yield is 2% or 5%

sabian
27-07-09, 14:40
I think near international schools will have better rental prospects than local uni....as expats will tend to want to stay near international schools as will be more convenient for their kids...since local uni most probably cater more for Sporeans who will not shift house just for the uni or can stay in hostel.....

you got that right.

venus
27-07-09, 14:43
early birds got 3% discount for the first 120. after that, they did increase the price and no more discount.

Thanks for the info. Will chk out optima 1st. If too ex then mabbe will reconsider DBR

jitkiat
27-07-09, 14:53
Thanks for the info. Will chk out optima 1st. If too ex then mabbe will reconsider DBR

You can get an idea by looking at Casa Merah's asking price:

http://www.casa-merah.com/

venus
27-07-09, 15:14
You can get an idea by looking at Casa Merah's asking price:

http://www.casa-merah.com/

Recent transactions avg 750psf, someone here mentioned CM owners are now asking for 800psf. But optima rumoured to be launching at 900psf . that's not exactly "market rate" rite? If so, might as well buy CM which is going to top soon and better still further away from mrt not as noisy.

Anyway since I'm looking at bigger unit I'm hoping... just hoping, psf will be lower lah. I know chances quite slim :) Can forget abt optima liao.

sabian
27-07-09, 15:19
early birds got 3% discount for the first 120. after that, they did increase the price and no more discount.



Well, DBR don't need the CBP to drive up the rent, there are more factors to drive that up. Look at those along the MRt tracks condo developments, their prices also increased. Optima launching at more than 800psf. there's nothing there, except for the landed properties. Casa merah launched at crazy price in 2007, now people are also buying at more than 700psf. Last week, I was there to take a look, and there were many agents bringing buyers at night to look around. Mrt tracks noisy, but people is not detered by that.

oh, and Anna Gwee bought DBR too, does it meant anything?

neber say dbr cannot rent out....no need to pull in CEO related names.

so dun worry...dun kan cheong. u agent/ owner?

jitkiat
27-07-09, 15:31
Recent transactions avg 750psf, someone here mentioned CM owners are now asking for 800psf. But optima rumoured to be launching at 900psf . that's not exactly "market rate" rite? If so, might as well buy CM which is going to top soon and better still further away from mrt not as noisy.

Anyway since I'm looking at bigger unit I'm hoping... just hoping, psf will be lower lah. I know chances quite slim :) Can forget abt optima liao.

When caveat is lodged at URA, it is probably 1-2 months late. 750psf is probably transacted in June. There is probably already transaction close to 800psf in July. That's why CM owners are asking for 800psf now. WFK is also selling > 750psf now?

shespawn
27-07-09, 15:32
Recent transactions avg 750psf, someone here mentioned CM owners are now asking for 800psf. But optima rumoured to be launching at 900psf . that's not exactly "market rate" rite? If so, might as well buy CM which is going to top soon and better still further away from mrt not as noisy.

Anyway since I'm looking at bigger unit I'm hoping... just hoping, psf will be lower lah. I know chances quite slim :) Can forget abt optima liao.

i find CM it's better than optima because of the MRT train sound. If you do consider CM, check out the 3 bedrooms facing the landed property side. at night it's pretty peaceful. Not sure abt the west sun facing. I think Optima will have more smaller units since they priced so high.

venus
27-07-09, 16:12
ya facing landed hses side is better. used to stay around there closer to simpang bedok side. Really like the "kampong" feel. However I still think price is too high for this area. Sold my plc there at a loss, abt 100k excldg interest. A very painful lesson. So now I'm very very cautious with such overpriced properties.

tanumy
28-07-09, 13:55
I just bought DBR yesterday and today developer already increase 3% higher. I find the place is great and this district got huge potential in future to come. DBR has great facilities unlike other condo and price also quite attractive in this current market.

SO thumbs up to all those who got unit over there.... cheers.....

shespawn
28-07-09, 14:26
I just bought DBR yesterday and today developer already increase 3% higher. I find the place is great and this district got huge potential in future to come. DBR has great facilities unlike other condo and price also quite attractive in this current market.

SO thumbs up to all those who got unit over there.... cheers.....

oh yah! another neighbour :-)

urs is 3 bedder or 4 bedder? what price did you buy? im hoping my friend buy there too!

jitkiat
28-07-09, 15:05
I just bought DBR yesterday and today developer already increase 3% higher. I find the place is great and this district got huge potential in future to come. DBR has great facilities unlike other condo and price also quite attractive in this current market.

SO thumbs up to all those who got unit over there.... cheers.....
Welcome welcome. You are right about the great facilities and relatively affordable prices. Copied from another website:


Extensive landscape & water area (occupy 220,000 sq ft of land area- 2/3 of site area, almost 3 football fields)


4 swimming pools - 50m lap pool, lagoon pool, jungle pool & children's pool


Landscape features:-
a. Elevated Jacuzzi
b. One-tree island
c. Green wall/canopy at main entrance drop off & above clubhouse
d. Sports Deck (on roof top of carparks)

5-storey waterfall
Indoor area of clubhouse & gym = 12,000 sq ft = almost 10 units of 3-bedroom apartments

Many special clubhouse facilities for residents. Some not easily found on other condos: e.g. Library (for 50 persons - quiet study areas for students); Band room (fully accesorized with drumsets, electric guitar and amplifiers); Piano room

kale
28-07-09, 17:29
any ideas on the mthly maintenance fee?

jitkiat
28-07-09, 17:37
any ideas on the mthly maintenance fee?

2br ~ 250
3br ~ 300

tanumy
29-07-09, 12:48
DBR is the great oppotunity to buy. Look at Optima near tanah merah so high price. DBR even after developer increase still affordable. So better buy few left over units and enjoy the reward soon. Buy now or regret.....

LongMan
29-07-09, 12:52
DBR is the great oppotunity to buy. Look at Optima near tanah merah so high price. DBR even after developer increase still affordable. So better buy few left over units and enjoy the reward soon. Buy now or regret.....

Or should it be buy now and regret?

A lot of people are buying on impulse, and they have overlook on bank loans and monthly maintenance fee.

shespawn
29-07-09, 12:55
Or should it be buy now and regret?

A lot of people are buying on impulse, and they have overlook on bank loans and monthly maintenance fee.

this advice is probably for those who don't think hard into their pockets. There are also careful home buyers after many years of planning, before finally decide to buy and not to regret later.

jitkiat
29-07-09, 13:51
http://www.doublebayresidences.com/

> 100 units sold in July (650-720psf)

http://www.doublebayresidences.com/images/One%20Tree%20Island-s.jpg

jitkiat
29-07-09, 14:08
http://www.doublebayresidences.sg/

For those who want to view the brochure online

tanumy
29-07-09, 14:10
Or should it be buy now and regret?

A lot of people are buying on impulse, and they have overlook on bank loans and monthly maintenance fee.


Location is superb and with upcoming Changi business park and SIngapore 4th Uni it is going to easily fetch 800PSF soon as optima in tanah merah is super hot project. DBR prices still low. Couple of days ago only they increase prices for DBR. My personal opinion just buy on any facing.........

990113d03
29-07-09, 14:45
Comparing location Simei and Bedok Reservoir and project DBR and WFW,WFK respectively, which area and which project better in terms investment, accessibility, amenities, schools etc. Any comments? I believe price should be comparable for properties in this 2 area.

jitkiat
29-07-09, 15:05
Comparing location Simei and Bedok Reservoir and project DBR and WFW,WFK respectively, which area and which project better in terms investment, accessibility, amenities, schools etc. Any comments? I believe price should be comparable for properties in this 2 area.
Being a DBR owner, obviously I am biased.

WFK/WFW
- finishing is better especially WFK
- no MRT now (although high chance within walking distance when DTL3 is ready in 2016), if you drive then no issue
- noisy for PIE facing units
- reservoir is very nice and safe from redevelopment
- closer to town compared to Simei
- within 1km of Red Swastika

DBR
- facilities better but finishing is not as good as WFK
- 2mins walk to MRT / Eastpoint mall via park connector .. means Starbucks is 2mins walking, 2 aircon foodcourts, 3 coffee shops
- walking distance to 4th uni (commited to open in 2011, campus ready in 2013)
- banks shifting operations to CBP, 1km away, starting with Citi, DBS/StanChart in 2010
- within 1-2km of GongShang/St Hilda
- airport/CGH (rentals to target group)
- MRT noise (although it will be filtered by the waterfall/MSC)

Ultimately both are 99LH mass market projects in OCR. You cannot call these projects investment grade. Even when there is a bubble, you will probably get 30-40% return only. Investment potential of East coast near Marine Parade is actually much higher. Investment potential of property stocks can be even higher.

shespawn
29-07-09, 15:12
Comparing location Simei and Bedok Reservoir and project DBR and WFW,WFK respectively, which area and which project better in terms investment, accessibility, amenities, schools etc. Any comments? I believe price should be comparable for properties in this 2 area.

hi #, i've been to all locations including tanah merah. I wouldn't want to say which is the best, it's more of what suits your lifestyle most.

for DBR homestaying, i like the amenities, location and the design of the facilities. It's ideal for my lifestyle of relaxing and I can cut short those beach holidays for longer trips. Of course, for the investment considerations, there's CBP and 4th university. WFW or WFK, is more of a waterfront view living, and there is a MRT line coming up there too. You should also ask the WFW guys abt the pros of staying there, because i probably say more pros than cons to substantiate my buy.

990113d03
29-07-09, 15:15
Seems both location and projects got its own merits resulting in comparable prices. However, comparing HDBs at Simei and Bedok Reservoir, it seems prices of Simei's HDB are higher than HDBs at Bedok Reservoir. Maybe its due to better public transport accessibility for Simei than Bedok Reservoir as more HDB dwellers like to be near MRT station and good transport network.

shespawn
29-07-09, 15:19
Seems both location and projects got its own merits resulting in comparable prices. However, comparing HDBs at Simei and Bedok Reservoir, it seems prices of Simei's HDB are higher than HDBs at Bedok Reservoir. Maybe its due to better public transport accessibility for Simei than Bedok Reservoir as more HDB dwellers like to be near MRT station and good transport network.

i can only say the traffic conditions there, even with the expanding of the roads, is pretty packed during the peak hours. you buying for own stay or for investment?

jitkiat
29-07-09, 15:20
Seems both location and projects got its own merits resulting in comparable prices. However, comparing HDBs at Simei and Bedok Reservoir, it seems prices of Simei's HDB are higher than HDBs at Bedok Reservoir. Maybe its due to better public transport accessibility for Simei than Bedok Reservoir as more HDB dwellers like to be near MRT station and good transport network.
You are right, HDB rental yield in Simei is also quite attractive. 20-year old 4room HDB resale about 350-380k with monthly rental about 1,800-2,000 SGD translating to 6% gross yield. I expect CBP/4th uni to have positive impact on the HDB resale prices / rental @ Simei.

kEN9170
29-07-09, 15:29
I'm a WFW owner.:D

I'm a nature lover, being close to both parks attracted me to this development.

Both projects have different selling points.

WFW/WFK is promoting Waterfront Living.

Waterfront Waves - Live Where You Play
Waterfront Key - Live at the Water's Edge

If you like being close to nature, Waterfront will be a good choice.
Different buyers have different requirements.



Being a DBR owner, obviously I am biased.

WFK/WFW
- finishing is better especially WFK
- no MRT now (although high chance within walking distance when DTL3 is ready in 2016), if you drive then no issue
- noisy for PIE facing units
- reservoir is very nice and safe from redevelopment
- closer to town compared to Simei
- within 1km of Red Swastika

DBR
- facilities better but finishing is not as good as WFK
- 2mins walk to MRT / Eastpoint mall via park connector .. means Starbucks is 2mins walking
- walking distance to 4th uni (commited to open in 2011, campus ready in 2013)
- banks shifting operations to CBP, 1km away, starting with Citi, DBS/StanChart in 2010
- within 1-2km of GongShang/St Hilda
- airport/CGH (rentals to target group)
- MRT noise (although it will be filtered by the waterfall/MSC)

Ultimately both are 99LH mass market projects in OCR. You cannot call these projects investment grade. Even when there is a bubble, you will probably get 30-40% return only. Investment potential of East coast near Marine Parade is actually much higher. Investment potential of property stocks can be even higher.

tanumy
29-07-09, 19:56
Look at optima and the project is so hot. Due to that Casa merah and DBR shall go up in PSF soon. Further more DBR is nicely located near singapore 4th uni and business park. I strongly feel great potential. so go for it.

jitkiat
30-07-09, 21:53
30+ units of 3 bedrooms left, hurry b4 it is gone

tantan
07-08-09, 22:09
Expected TOP date 2015. 6 years from now. Anyone know why it takes so long to construct?
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sky74
09-08-09, 02:36
New owner here, facing directly in front of the waterfall....best of all, my buddy is going to stay there as well....

jitkiat
09-08-09, 09:38
New owner here, facing directly in front of the waterfall....best of all, my buddy is going to stay there as well....

Welcome welcome ... facing 5-storey waterfall very nice

Showroom will be closed in September so owners might want to go and take some photos for ID idea later.

TOP date most likely in 2013 ... foundation work is already 70% done ...

jitkiat
09-08-09, 10:06
5-storey waterfall.

tanumy
09-08-09, 10:07
Great investment potential and location. Buy double bay condo now before all sold off. Left very few units.

jitkiat
09-08-09, 10:44
Great investment potential and location. Buy double bay condo now before all sold off. Left very few units.

Within walking/cycling distance to 4th university (campus ready in 2013), a research-based university with partnership with MIT/top Chinese u.

sleek
09-08-09, 10:50
Expected TOP date 2015. 6 years from now. Anyone know why it takes so long to construct?
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Wah! You also bought a unit here? :p

badzman
10-08-09, 10:21
what's the price for the 2 bedders there?

tanumy
10-08-09, 12:55
Almost about to sell off everything. buy now for great investment potential.

amk
10-08-09, 14:07
Expected TOP date 2015. 6 years from now. Anyone know why it takes so long to construct?


This date has nothing to do with construction "speed". It's more like a conservative deadline so developer can smooth out the cash flow. The longer they put, the more flexibility they have in allocating resources/funding.

To really build it normally, 3y is enough.

jitkiat
10-08-09, 19:42
what's the price for the 2 bedders there?

All sold out. Subsale asking btn 760-800psf, still way below Optima price.

Condorich
10-08-09, 23:43
All sold out. Subsale asking btn 760-800psf, still way below Optima price.

Nice development.. why not consider the 3 or 4 bedders... still available

shespawn
11-08-09, 10:44
Expected TOP date 2015. 6 years from now. Anyone know why it takes so long to construct?
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legal completion date is 2015, but TOP is Dec 2013.

shespawn
11-08-09, 11:17
http://i17.photobucket.com/albums/b61/catubbies/SNC00205.jpg

http://i17.photobucket.com/albums/b61/catubbies/SNC00207.jpg

some construction updates...

jitkiat
11-08-09, 11:23
http://www.doublebayresidences.com/images/site-plan.jpg
Wish to highlight a few less obvious things to the owners here:

1. The MSCP is 6-storey high, extend from block 17C to block 21D. Sport deck/library are on the 6-storey. Stack 14, 18, 19, 55 are part of the MSCP block (that's why the unit starts at 6th i.e. same level as the sports deck). MSCP will block the MRT track and act as a giant sound diffuser to reduce the MRT noise.

2. Most facilities like the clubhouse/gym/piano/band/karaoke rooms are extension of MSCP block facing the main pool

3. Covered linkway to MSCP, side gate & main gate

4. The 5-storey waterfall is cascaded into 2 parts against a backdrop of green walls (part of MSCP blk) facing the main pool. Again the sound of the waterfall will help to drown out the MRT noise.

5. There is a drop of terrain (about 1-storey high) along the 3 elevated jacuzzis (that's why stacks on the right of this drop is 13 storeys, on the left is only 12 storeys). Stack 47, 48, 51, 52 low floors will have nice landscape view.

6. The tree they preserve for the one-tree island is big (guess about 5 storey high) ... it provides cool shading throughout the day and you can enjoy your waterfall view under the tree

7. 2-bedrooms have curved sunshade fins, the same theme as curved shower and curved main pool

8. The elevation of the landed properties (Sunbird) is lower so even low floors on the stacks on the right can have unblocked view to the Expo area

tanumy
12-08-09, 14:28
Better buy whatever left overs as developers going to increase price again. Gd location and facilities. Great upside potential.

Sunnysideup
12-08-09, 23:18
Hi Friends

happy to found this forum for frank exchange of viewpoints. I have been thinking about stack 37,38,42 and 41. I am wondering whether 4th floor can have a unblock view over the landed houses. I have not done a survey yet by driving to the landed property area. But at 900+k I got to seriously think about this purchase.

cheers

jitkiat
13-08-09, 11:00
Hi Friends

happy to found this forum for frank exchange of viewpoints. I have been thinking about stack 37,38,42 and 41. I am wondering whether 4th floor can have a unblock view over the landed houses. I have not done a survey yet by driving to the landed property area. But at 900+k I got to seriously think about this purchase.

cheers
You can assume DBR elevation is about 1-storey higher than Sunbird, some agents have taken photos from Tropical Spring to prove that you can clear the rooftop of Sunbird landed properties. Better hurry up before it is gone. 700psf still much cheaper than Optima.

tanumy
14-08-09, 16:02
what u think of stack 38, 40 and 28? which is better choice at DBR.

jitkiat
14-08-09, 16:33
what u think of stack 38, 40 and 28? which is better choice at DBR.
In terms of pricing, stack 38 > 40 > 28
If stack 28, don't buy low floors.

noblebaby
14-08-09, 16:36
i thought you bought already... still ask the stupid question... :tsk-tsk:


what u think of stack 38, 40 and 28? which is better choice at DBR.

kEN9170
14-08-09, 16:43
Really stupid question. Stack 38,40 & 28 so far from MSCP.:tsk-tsk:
Better buy Block 17C to 21D..next to MSCP...no need to afraid to get wet.
More upside too...



what u think of stack 38, 40 and 28? which is better choice at DBR.

noblebaby
14-08-09, 16:51
haha... must stay near to the waterfall... waterfall view... :tsk-tsk:

maybe you can post the transacted price list with the unit number for this newbie to compare...




Really stupid question. Stack 38,40 & 28 so far from MSCP.:tsk-tsk:
Better buy Block 17C to 21D..next to MSCP...no need to afraid to get wet.
More upside too...

azeoprop
14-08-09, 20:36
Left only big units above 800k price quantum, how to buy, no money. Last time went to look, only one 2 bedder left, face multi storey carpark...:tsk-tsk:

tanumy
15-08-09, 18:00
DBR is moving fast. Buy now as left v few unit and PSF quite attractive.