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mr funny
08-10-09, 19:15
http://www.businesstimes.com.sg/sub/news/story/0,4574,353432-1254945540,00.html?

Published October 7, 2009

Seven Palms smashes price records at Sentosa Cove

SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project

By KALPANA RASHIWALA


(SINGAPORE) Upmarket developer SC Global Developments is said to have sold six units at its Seven Palms at Sentosa Cove condo at between $3,100 per square foot (psf) and $3,400 psf - record prices for the upscale waterfront housing district.

On a lump-sum basis, the three and four-bedroom units were sold at about $9 million to $15 million each.

All units in the four-storey development will face either Tanjong Beach next door, or the sea or the Tanjong Golf Course at the Sentosa Golf Club.

Singaporeans are understood to have picked up two of the six units sold recently, with Singapore permanent residents buying the other four.

Market watchers reckon SC Global is probably looking at a project-average price of about $3,500 psf for Seven Palms at Sentosa Cove. The condo will comprise just 41 units.

Standard apartment sizes range from about 2,750 sq ft to 6,500 sq ft.

BT understands that the biggest unit in the 99-year-leasehold project, an 8,000-sq-ft penthouse, has a price tag of about $25 million to $30 million.

Prior to this, the highest median price achieved by a developer of a Sentosa Cove condo was $2,734 psf seen at Lippo Group's Marina Collection, which was released in late 2007.

The highest price fetched for a unit in that development was $2,917 psf, for a fourth-floor unit that sold for just over $9.8 million in December 2007.

Property consultants were generally not surprised at the record price achieved for Seven Palms, given the project's unique positioning.

'This will be the only condo on Sentosa Cove with direct access to a beach. And SC Global has established a track record of being able to command a premium to the market for its project,' said CB Richard Ellis executive director (residential) Joseph Tan.

'We're seeing big-ticket transactions coming back to the market. For example, there are more of the $4.5 million to $12 million per apartment deals again as the bottom-up property recovery spreads to the luxury residential sector,' he added.

Seven Palms is designed by Kerry Hill Architects, which has designed many of the Aman resorts.

SC Global clinched the 113,797-sq-ft plot, which was marketed as the Beachfront Collection, at a tender conducted by Sentosa Cove Pte Ltd (SCPL) and which closed in July 2007.

Its top bid of $268.3 million worked out to nearly $1,800 psf per plot ratio. Assuming a breakeven cost of about $2,400 psf, SC Global's pre-tax profit from the development would be more than $170 million.

The plot has a 1.31 plot ratio (ratio of maximum potential gross floor area to land area) and a four-storey height limit. The maximum number of apartments allowed by SCPL - the district's master planner - is 88 units.

However, SC Global has opted to build less than half that number, but with bigger units.

All penthouses and ground-floor apartments come with their own swimming pool and each unit in the project has a private lift. Housing in the immediate neighbourhood is bungalows.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-10-07/071009_krbeach7n.jpg

mr funny
08-10-09, 19:32
http://www.businesstimes.com.sg/sub/suite/story/0,4574,353670,00.html?

Published October 8, 2009

SEVEN PALMS SENTOSA COVE

10 units released, 6 sold

Asking average price is about $3,300 psf or about $8.5m per unit


(SINGAPORE) SC Global Developments yesterday said it is releasing about 10 of the total 41 units at its Seven Palms Sentosa Cove condo at an average price of about $3,300 psf. In absolute quantum, prices start at about $8.5 million per unit.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-10-08/BT_IMAGES_KRBEACH8.jpg
Imagine: Tanjong Beach on one side, a golf course adjacent to it and the South China Sea on the other side

The upscale developer recently held private previews for the first phase and has sold six of the 10 units at an average lumpsum price of about $11 million per residence. Prices of the six units sold range from about $3,100 psf to $3,400 psf.

Standard apartments in Seven Palms range from about 2,700 sq ft to 6,800 sq ft and have three to five bedrooms. Penthouses range from about 4,000 to 8,000 sq ft. The residences are housed in three four-storey high blocks formed around a square coconut grove. 'A huge open-ended portal connects the coconut grove to the beach for physical and visual access. Under this portal is a luxuriously-appointed beach club, complete with storage for water sports equipment, a glass-walled gymnasium, and plenty of deck areas for lounging, yoga, catered events, or just doing nothing,' SC Global said in its news release.

It will be developing the project on a 99-year leasehold plot flanked by Tanjong Beach on one side, a golf course adjacent to this and the South China Sea on the other side.

'To step out of your residence and walk directly onto the beach is truly unique in urban Singapore. I have spent much time on site over the past year appreciating this unique and rare location and working diligently to create something befitting of this special site,' said SC Global chairman and CEO Simon Cheong.

The company also said the name Seven Palms derives from its estate management arm, Seven Palms Resort Management, which has been providing resident services to all the group's completed developments since 2002.

kane
08-10-09, 22:35
walk past your front gate and it's the beach... nice lifestyle... and as with all things, it comes with a price.

focus
09-10-09, 08:49
Can buy the cheaper version at the coast or azure at sentosa..

Sentosa is so freaking small ..as with singapore that it really does not matter walking a few minutes to get to the beach :)

Lord Anus
09-10-09, 10:35
Can buy the cheaper version at the coast or azure at sentosa..

Sentosa is so freaking small ..as with singapore that it really does not matter walking a few minutes to get to the beach :)

same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

as usual, you have chosen to miss the point.

moneyspinner
09-10-09, 11:00
same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

as usual, you have chosen to miss the point.

Simple. If I have the money and I like it, I just buy! One man's meat is another's poision!:)

focus
09-10-09, 12:09
same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

as usual, you have chosen to miss the point.

You are really Lord anus.. :)
Thanks for the guidance.

Reporter
09-10-09, 15:57
same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

as usual, you have chosen to miss the point.
Though both are midsize, Camry and 5-series are very different cars.


How about using fullsize S-class as an example?

One can buy a S300L V6 but instead choose a S65L AMG V12 that costs "more than double" the former.

One can't get more metal, length, legroom and volume with the extra money.

On paper, the 4.4s S65L AMG will outrun the standard pathetic EvoX. But who in the right mind would race in a 5.2m-long 2.5-tonne sedan as it takes twice as much skill to race in it than the EvoX.

On the road, the car is more likely driven by the chauffeur during weekdays and the owner during the weekends. (For reference, ask the lucky chauffeur in Daimler AsiaPac HQ). Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.


So why pay more than double the money for a 612hp car when all the owner needs is a 216hp S260 (not even 231hp S300)?

I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.

jlrx
10-10-09, 00:03
same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

The difference is not inside the car, but outside the car.

Look at these two photos below. Can you spot the difference? Don't you agree that the Singapore Flyer in the first photo looks much more beautiful?


http://i305.photobucket.com/albums/nn211/jlrx_bucket/BMWView.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/CamryView.jpg


Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.

Or if the Reporter in the S300L is rushing to report on the latest condominium news. :p

kane
10-10-09, 00:15
interesting illustration, i wonder if the house you stay in creates a different impression on the same view outside... you've gotten me thinking.

Reporter
10-10-09, 00:34
The difference is not inside the car, but outside the car.

Look at these two photos below. Can you spot the difference? Don't you agree that the Singapore Flyer in the first photo looks much more beautiful?


http://i305.photobucket.com/albums/nn211/jlrx_bucket/BMWView.jpg

....................
Goodness!
It has a pair of pedal shifters on the steering wheel.

Is that an M5?

jlrx
10-10-09, 02:52
interesting illustration, i wonder if the house you stay in creates a different impression on the same view outside... you've gotten me thinking.
Of course ... look at the two pictures below.

Same view ... Seafront On Meyer (artist's impression) vs. Marine Parade HDB flat.

http://propertydistrict.files.wordpress.com/2007/12/seafront2.png

http://www.asiaone.com/a1media/business/12Dec07/20071203.091833_20071202_001_condosale.jpg


Goodness!
It has a pair of pedal shifters on the steering wheel.

Is that an M5?
You are sharp! I copied from this BMW website ...

http://ah-karl-co.bmw.de/sync/showroom_rebrush/de/de/newvehicles/mseries/m5touring/2007/allfacts/ergonomics/cockpit.html

Aus der schönsten Perspektive.

Das Cockpit des BMW M5 Touring.

Die klare, weiß beleuchtete Instrumentenkombi, das M Lederlenkrad mit Multifunktion und die Mittelkonsole mit dem beleuchteten SMG Wählhebel stehen ganz im Zeichen modernster Fahrergonomie. Sie unterstreichen, dass im Cockpit des BMW M5 Touring alles auf den sportlichen und vielseitigen Fahrer zugeschnitten ist. Logisch platzierte Funktionsschalter und das iDrive mit dem übersichtlichen Control Display garantieren intuitive Bedienbarkeit.

focus
10-10-09, 15:08
Seafront on meyer is photoshopped... HDB photo is actual photo taken..

of course there is a difference.. That's why it is call ARTIST IMPRESSION

kane
10-10-09, 17:29
i'm sold jlrx.

actually our seaview is littered with tankers. in the real luxurious seaview, it should be filled with yachts.

jlrx
10-10-09, 23:20
i'm sold jlrx.

actually our seaview is littered with tankers. in the real luxurious seaview, it should be filled with yachts.

"luxurious" is a state of the mind.

Which view is more luxurious?

Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background

http://www.straitstimes.com/STI/STIMEDIA/image/20091009/life6-2.jpg

Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background

http://i305.photobucket.com/albums/nn211/jlrx_bucket/BrazilBahiaSeaView.jpg

focus
11-10-09, 01:14
Actually..you go bintan angsana resorts or banyan tree..and you can see very very nice seaview.. bintan would do brisk business if they start selling their land for residential developments

gfoo
11-10-09, 04:06
Though both are midsize, Camry and 5-series are very different cars.


How about using fullsize S-class as an example?

One can buy a S300L V6 but instead choose a S65L AMG V12 that costs "more than double" the former.

One can't get more metal, length, legroom and volume with the extra money.

On paper, the 4.4s S65L AMG will outrun the standard pathetic EvoX. But who in the right mind would race in a 5.2m-long 2.5-tonne sedan as it takes twice as much skill to race in it than the EvoX.

On the road, the car is more likely driven by the chauffeur during weekdays and the owner during the weekends. (For reference, ask the lucky chauffeur in Daimler AsiaPac HQ). Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.


So why pay more than double the money for a 612hp car when all the owner needs is a 216hp S260 (not even 231hp S300)?

I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.

there is no point driving a luxury car that doesnt have the horsepower to match, might as well drive a picanto or perodua, unless you're chauffer driven of course. it doesnt really matter how heavy the car is, but its all abt the torque/centurysprint and handling.

orange
11-10-09, 05:21
you're wrong. weight is a drag. performance is all about power to weight ratio. handling is all about front rear weight distribution, stiffness and lightness of chassis.

orange
11-10-09, 05:25
for 0-60 mph, a ducati will outrun a 2.8 second CLK DTM AMG anyday. or even a bugatti veyron. but at the 1/4 mile, the veyron 16-4 will be far ahead.

gfoo
11-10-09, 11:19
for 0-60 mph, a ducati will outrun a 2.8 second CLK DTM AMG anyday. or even a bugatti veyron. but at the 1/4 mile, the veyron 16-4 will be far ahead.

lol you certainly seem to know your cars - what do you drive?

my point being that just as in properties, many car buyers buy into brand and perceived prestige rather than for the enjoyment of the drive. why buy a 320 or c180 when a mazda 6 is faster, better equipped and way cheaper? Unless chauffered, why even bother with a s300 when a top of the line hyundai is a plushier ride?

same with properties - why bother to buy a 99LH condo right smack in the middle of a HDB estate?

bargain hunter
11-10-09, 11:21
you make sentosa buyers look stupid...

you don't get the occasional tanker. you actually get many parked pretty close to your doorstep.


"luxurious" is a state of the mind.

Which view is more luxurious?

Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background

http://www.straitstimes.com/STI/STIMEDIA/image/20091009/life6-2.jpg

Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background

http://i305.photobucket.com/albums/nn211/jlrx_bucket/BrazilBahiaSeaView.jpg

orange
11-10-09, 16:32
i drive a bmw 335i E93. C180/320i over mazda 6. your analogy of 99yr condo in HDB heartland is off. should be FH landed in YCK which are cheaper than FH condo in D9/10.

Reporter
11-10-09, 16:41
there is no point driving a luxury car that doesnt have the horsepower to match, might as well drive a picanto or perodua, unless you're chauffer driven of course. it doesnt really matter how heavy the car is, but its all abt the torque/centurysprint and handling.


lol you certainly seem to know your cars - what do you drive?

my point being that just as in properties, many car buyers buy into brand and perceived prestige rather than for the enjoyment of the drive. why buy a 320 or c180 when a mazda 6 is faster, better equipped and way cheaper? Unless chauffered, why even bother with a s300 when a top of the line hyundai is a plushier ride?

same with properties - why bother to buy a 99LH condo right smack in the middle of a HDB estate?
I mentioned fullsize but am not sure why mini (Picanto) and compact (Mazda 6) were brought in to compare. I think we should compare with the same size, e.g. Hyundai Equus or 300C with 7-series, to be fair.

Size is different from performance. They are 2 different requirements. Please don't mix them.


I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.
(gfoo, I've got your point but Mazda 6 2.0 is not a good example as it is slower than S300 and C180 (1.6T). Let me bring in a better example.)

Legacy GT (2.5T AWD) is faster than C300 and so much much more cheaper. I agree totally. I don't see the logic of buying the C300. As mentioned in my last posting, I don't "understand the logic".

And because I can't "understand the logic", the day for me to own a S65L AMG, CLK AMG DTM, Bugati Veyron will never come.


I think we have went OB for quite a while in this thread. Let's stop discussing this car thing?

Meanwhile, I am going to work really hard on "understanding the logic". I know you are going to say I am a fool and an idiot. I know, I know, but I really want to be a fool that own one of these no-value-for-money car. You need fools and idiots in the society so that the rest are intelligent and smart. I am willing to be that fool.

kane
11-10-09, 16:54
Definitely the brazilian seaside view looks more luxurious.

gfoo
11-10-09, 17:07
i drive a bmw 335i E93. C180/320i over mazda 6. your analogy of 99yr condo in HDB heartland is off. should be FH landed in YCK which are cheaper than FH condo in D9/10.

kewl, you jb3ed your n54 yet?

orange
11-10-09, 17:16
nope, everything is stock. stock rims and runflats even. i'd get a GTR or 997 turbo if i really wanted to blow people away. i'd hate to be seen driving a zhng-ed car, it's just not me.

orange
11-10-09, 17:28
The 335 to me was meant to be a luxury GT straight from the factory, not a hardcore track car. why mess with the engine management and turbo boost. don't be cheapskate and buy a 911 turbo already! anyway, back to condos.

gfoo
11-10-09, 18:12
The 335 to me was meant to be a luxury GT straight from the factory, not a hardcore track car. why mess with the engine management and turbo boost. don't be cheapskate and buy a 911 turbo already! anyway, back to condos.

wahh... orange you rich mah...

jlrx
11-10-09, 21:27
Definitely the brazilian seaside view looks more luxurious.

"luxurious" is a state of the mind.

How about if I superimpose some "thought bubbles" into the photos?

Which view looks more "luxurious" now?

Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SentosaCoveMind.jpg

Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background


http://i305.photobucket.com/albums/nn211/jlrx_bucket/BrazilBahiaSeaViewMind.jpg

jlrx
11-10-09, 23:25
I think we have went OB for quite a while in this thread. Let's stop discussing this car thing?

Meanwhile, I am going to work really hard on "understanding the logic". I know you are going to say I am a fool and an idiot. I know, I know, but I really want to be a fool that own one of these no-value-for-money car. You need fools and idiots in the society so that the rest are intelligent and smart. I am willing to be that fool.

Can't be helped ... I think most of us here (I may be wrong) are not in the league of buying these Sentosa Cove $20 M bungalows and $15 M Seven Palms condos.

Hence our minds tend to drift ... into cars! :scared-4:

e.g. Reporter's S300L, orange's 335i ...

Actually, the concept of "value for money" is very subjective. I would say that everyone thinks his own car or house is "value for money", otherwise he wouldn't have bought it in the first place.

Take for example those two cars above, each of which costs around $280,000.

If you ask the majority of Singaporeans struggling to pay the mortgage of their HDB flats or suburban condos whether the two cars above are "value for money", I think you will get this response ...

SIAO !!!

kane
11-10-09, 23:48
singapore's seaside view really can't fight that brazilian one.

i would much prefer perhaps a penthouse with a great view, brazil probably don't have this kind of view.

Reporter
11-10-09, 23:59
Can't be helped ... I think most of us here (I may be wrong) are not in the league of buying these Sentosa Cove $20 M bungalows and $15 M Seven Palms condos.

Hence our minds tend to drift ... into cars! :scared-4:

e.g. Reporter's S300L, orange's 335i ...

Actually, the concept of "value for money" is very subjective. I would say that everyone thinks his own car or house is "value for money", otherwise he wouldn't have bought it in the first place.

Take for example those two cars above, each of which costs around $280,000.

If you ask the majority of Singaporeans struggling to pay the mortgage of their HDB flats or suburban condos whether the two cars above are "value for money", I think you will get this response ...

SIAO !!!
Err ... my 6-pistons car may not be a S300L ...
... it could be this very torquey Superb 2.5 V6 TDI ...

http://farm1.static.flickr.com/140/377837131_6f5123eca3.jpg
Silver Arrow taxi driver has every rights to be in this forum to discuss condo too. Agree?

Anyway, Grandeur 3.3, Accord 3.5, 335i, E350, GT-R, 911 Turbo, etc., all have 6 pistons.


I think, base on my limited knowledge of Brazil, staying in Sentosa may be better than in Brazil. A Brazilian friend once told me he was awaken from his sleep and robbed at the gun point at midnight in his condo!

So 7 Palms is still more Fun?

kane
12-10-09, 00:00
from a views perspective, singapore's strength isn't in sea view. that's all.

jlrx
12-10-09, 01:46
singapore's seaside view really can't fight that brazilian one.

i would much prefer perhaps a penthouse with a great view, brazil probably don't have this kind of view.

Singapore's seaside view can't fight with that of any country in the world. The water here is so greyish that it has to be photoshopped in property brochures to turn the sea blue.

Hence "sea view" here has to be a "state of the mind". :spliff:

Of course Brazil has penthouses with great views. Look at the penthouse below, it is 4,413 sf and costs only S$ 923,000. :scared-4:

ps. by the way I'm not a property agent from Brazil. :cool:

http://www.pp-bahia.com/pp/00000517/00.jpg

http://www.pp-bahia.com/pp/00000517/01.jpg

http://www.pp-bahia.com/pp/00000517/03.jpg

http://www.pp-bahia.com/pp/00000517/04.jpg


http://www.pp-bahia.com/pp/00000517/07.jpg

http://www.pp-bahia.com/pp/00000517/08.jpg

kane
12-10-09, 08:44
For a moment I thought you were some real estate agent iin brazil. I should say penthouse with CITY view. Maybe that one we're better than many other places.

jlrx
12-10-09, 22:34
Err ... my 6-pistons car may not be a S300L ...
... it could be this very torquey Superb 2.5 V6 TDI ...

Silver Arrow taxi driver has every rights to be in this forum to discuss condo too. Agree?

Anyway, Grandeur 3.3, Accord 3.5, 335i, E350, GT-R, 911 Turbo, etc., all have 6 pistons.

I know your 6-pistons car is a S300L because it is the least "value for money" amongst the cars above (other than the 911 Turbo).

Accord 3.5 ($130,800, 279 bhp); price per bhp = $469 pbhp
GT-R ($248,000, 480 bhp); price per bhp = $517 pbhp
335i ($275,800, 306 bhp); price per bhp = $901 pbhp
E350 ($262,800, 272 bhp); price per bhp = $966 pbhp
S300L ($286,888, 231 bhp) price per bhp = $1,242 pbhp
911 Turbo ($638,888, 480 bhp) price per bhp = $1,331 pbhp

The S300L is the least "value for money" (except for the 911) so yours must be S300L since you said that it is "not value for money".

I don't think you drive 911 Turbo because you said you "don't understand the logic" of spending more than half-a-million on those AMG-type cars. :tsk-tsk:


I think, base on my limited knowledge of Brazil, staying in Sentosa may be better than in Brazil. A Brazilian friend once told me he was awaken from his sleep and robbed at the gun point at midnight in his condo!

So 7 Palms is still more Fun?

Part of the high price of Sentosa Cove homes is the security.

The Straits Times

October 10, 2009 Saturday

Seafront homes


The Cove's streets are designed to be closed to non-residents without a permit - another first for a landed estate in Singapore - and the coastal waters around it are patrolled by the Police Coast Guard and monitored by surveillance cameras.:gun1:

Reporter
12-10-09, 23:00
....................

I don't think you drive 911 Turbo because you said you "don't understand the logic" of spending more than half-a-million on those AMG-type cars. :tsk-tsk:
Err ... actually I say I don't understand the logic now (because I am not there yet) but I intend to work real hard on understanding it as I love to drive "no-value-for-money" cars like the Panamera, 911 Turbo, S-class Coupe (formerly CL), etc.. Sorry! I know I shouldn't do it but I was just teasing myself.



Part of the high price of Sentosa Cove homes is the security.

The Straits Times

October 10, 2009 Saturday

Seafront homes


The Cove's streets are designed to be closed to non-residents without a permit - another first for a landed estate in Singapore - and the coastal waters around it are patrolled by the Police Coast Guard and monitored by surveillance cameras.:gun1:
These together with the fast approval process will attract more UHNWIs to Singapore.

jlrx
13-10-09, 01:31
Err ... actually I say I don't understand the logic now (because I am not there yet) but I intend to work real hard on understanding it as I love to drive "no-value-for-money" cars like the Panamera, 911 Turbo, S-class Coupe (formerly CL), etc.. Sorry! I know I shouldn't do it but I was just teasing myself.

Ohhh ... Now I understand.

My car is also very "no-value-for-money", but not as bad as yours.

So you must like this car very much because it is the most "no-value-for-money" ...

Rolls Royce Phantom (A) ($1,510,888, 453 bhp); $3,335 pbhp. :doh:

But I doubt you will buy this car although it is "most-value-for-money" ...

Subaru WRX STI (M) ($92,000, 230 bhp); $400 pbhp. :scared-4:

Actually, the concept of "value-for-money" depends on the denominator. If it is horsepower, then of course S300L and Phantom are very poor value for money. On the other hand, if the denominator is "prestige", then it will be a different story.

How do we measure "prestige"? That is the difficult part, but let me try.

China Cars (2 prestige points); Korean/ Low-brand Japanese (4 prestige points); Japanese (Excluding Lexus)/ Low-brand Continental (8 prestige points); Continental (16 prestige points); Luxury (32 prestige points); Super Cars (64 prestige points); Ultra-Rich Cars (128 prestige points).

Each prestige point approximately translates to an equivalent of $10,000 in annual income of the median income of people normally associated with this brand of car (not that particular model itself).

Subaru WRX STI ($92,000, 4 prestige points); price per prestige =$23,000 pppp
Honda Accord 3.5 ($130,800, 8 prestige points); price per prestige = $16,350 pppp
Nissan GT-R ($248,000, 8 prestige points); price per prestige = $31,000 pppp
BMW 335i ($275,800, 32 prestige points); price per prestige = $8,619 pppp
Merc E350 ($262,800, 32 prestige points); price per prestige = $8,213 pppp
Merc S300L ($286,888, 32 prestige points); price per prestige = $8,965 pppp
Porsche 911 Turbo ($638,888, 64 prestige points); price per prestige = $9,983 pppp
Rolls Royce Phantom (A) ($1,510,888, 128 prestige points); price per prestige = $11,804 pppp

Using this way of determining "value-for-money", it can be seen that Reporter's S300L is very "value-for-money" !!! :cheers1:

On the other hand, the Nissan GT-R is the least value for money. Can you imagine ... after spending close to a quarter-million on a GT-R, you can only tell people that you "drive a Nissan"? :doh:

Now that I get the hang of it, next time I'll try to work out another table on "value-for-money" for properties. :p

Douk
13-10-09, 07:15
are you a retireee ? :spliff:


Ohhh ... Now I understand.

My car is also very "no-value-for-money", but not as bad as yours.

So you must like this car very much because it is the most "no-value-for-money" ...

Rolls Royce Phantom (A) ($1,510,888, 453 bhp); $3,335 pbhp. :doh:

But I doubt you will buy this car although it is "most-value-for-money" ...

Subaru WRX STI (M) ($92,000, 230 bhp); $400 pbhp. :scared-4:

Actually, the concept of "value-for-money" depends on the denominator. If it is horsepower, then of course S300L and Phantom are very poor value for money. On the other hand, if the denominator is "prestige", then it will be a different story.

How do we measure "prestige"? That is the difficult part, but let me try.

China Cars (2 prestige points); Korean/ Low-brand Japanese (4 prestige points); Japanese (Excluding Lexus)/ Low-brand Continental (8 prestige points); Continental (16 prestige points); Luxury (32 prestige points); Super Cars (64 prestige points); Ultra-Rich Cars (128 prestige points).

Each prestige point approximately translates to an equivalent of $10,000 in annual income of the median income of people normally associated with this brand of car (not that particular model itself).

Subaru WRX STI ($92,000, 4 prestige points); price per prestige =$23,000 pppp
Honda Accord 3.5 ($130,800, 8 prestige points); price per prestige = $16,350 pppp
Nissan GT-R ($248,000, 8 prestige points); price per prestige = $31,000 pppp
BMW 335i ($275,800, 32 prestige points); price per prestige = $8,619 pppp
Merc E350 ($262,800, 32 prestige points); price per prestige = $8,213 pppp
Merc S300L ($286,888, 32 prestige points); price per prestige = $8,965 pppp
Porsche 911 Turbo ($638,888, 64 prestige points); price per prestige = $9,983 pppp
Rolls Royce Phantom (A) ($1,510,888, 128 prestige points); price per prestige = $11,804 pppp

Using this way of determining "value-for-money", it can be seen that Reporter's S300L is very "value-for-money" !!! :cheers1:

On the other hand, the Nissan GT-R is the least value for money. Can you imagine ... after spending close to a quarter-million on a GT-R, you can only tell people that you "drive a Nissan"? :doh:

Now that I get the hang of it, next time I'll try to work out another table on "value-for-money" for properties. :p

proud owner
13-10-09, 09:08
singapore's seaside view really can't fight that brazilian one.

i would much prefer perhaps a penthouse with a great view, brazil probably don't have this kind of view.

not just brazil ... cant fight most other countries ..

Reporter
13-10-09, 10:32
Ohhh ... Now I understand.

My car is also very "no-value-for-money", but not as bad as yours.

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

Now that I get the hang of it, next time I'll try to work out another table on "value-for-money" for properties. :p
Wah lau erh!

If I was 14 years younger, I would have copy and submit your thesis for my NBA project.

Err ... actually, I was just simply saying:
"I examine value-for-money on my purchase now because I am not there yet. If I am there, I would simply buy the things I like and not worry too much about its value.
For example, Equus may be a better car (in terms of features, quietness, etc.) than LS, but I may just buy Conti SP because I like it"


Can don't come up with so many figures? I'm quite scare! :D

jlrx
13-10-09, 12:15
Ok! No more figures and NBA, how about barcharts and philosophy (PhD)?

Let's analyse why Seven Palms is so expensive, when there are so many beautiful beachfront homes in the world selling at a fraction of its price?

Look at the chart below (from the marketing website of Desaru beach villas) ...

Bar graph showing comparable 4-bed villa prices


http://www.stapford.com/images/table.jpg

The reason why Seven Palms is so expensive is because ... it is so expensive !!! :scared-4: :scared-4: :scared-4:

This is the greatest philosophy of all times !!! :scared-4: :scared-4: :scared-4:

Look at the conversation above between orange and gfoo,




The 335 to me was meant to be a luxury GT straight from the factory, not a hardcore track car. why mess with the engine management and turbo boost. don't be cheapskate and buy a 911 turbo already! anyway, back to condos.

wahh... orange you rich mah...

Do you think gfoo will say "wahh... orange you rich mah..." if orange lives in the US where a BMW 335i costs just USD 49,100 (S$ 68,740) instead of S$ 275,800 here in Singapore?

So what you are paying for (whether Seven Palms or 335i) is the admiration and respect of others. :spliff:

Try saying ...

"Seven Palms to me was meant to be a luxury weekend getaway from the stress of work, not a home ... " :spliff:

versus

"Desaru to me was meant to be a luxury weekend getaway from the stress of work, not a home ... " :doh:

So the value of Seven Palms is in its price and the more expensive it gets, the more valuable it becomes !!! :scared-4: :scared-4: :scared-4:

cheerful
13-10-09, 12:19
So the correct ... properties are not homogeneous pdts.

focus
13-10-09, 12:37
Wa.. then must mentioned the specific home more often in conversation..
If not.. nobody know.. coz most will just mention I live in Sentosa ...and people will say..Wa.. u rich..

orange
13-10-09, 13:26
Actually i got my car for much less. It is a PI car and yes, paid in full. Low depreciation for a car like this. And am enjoying every min of it.

orange
13-10-09, 13:29
I think that price paid for cars and homes should be pegged to one's total cash asset. What should be the proportion? Don't talk about salary cos that's future income.

Reporter
13-10-09, 13:32
Actually i got my car for much less. It is a PI car and yes, paid in full. Low depreciation for a car like this. And am enjoying every min of it.
With 5 years warranty?
Did they increase the price after you told them you are paying in cash?

focus
13-10-09, 15:44
Actually i got my car for much less. It is a PI car and yes, paid in full. Low depreciation for a car like this. And am enjoying every min of it.

Smart move! :)
I will get my car from PI next time too.. Don't feel any difference in service or delivery standards buying from Authorized Dealer..

Might as well save the money and buy from PI.

Reporter
13-10-09, 16:04
Smart move! :)
I will get my car from PI next time too.. Don't feel any difference in service or delivery standards buying from Authorized Dealer..

Might as well save the money and buy from PI.
Beside higher specs, PI also gives 5 year warranty based on servicing at Delgro workshop.

gfoo
13-10-09, 16:29
depends on which car you buy.

normal inline 6 or non FI engines any PI also can - all use KATC warranty anyways.

but cabrios and stuff that needs more specialized, harder to get parts, please think twice. e.g. the N54 is famous for HPFP failures, and PIs are last in line to parts replacements.

Reporter
13-10-09, 16:37
depends on which car you buy.

normal inline 6 or non FI engines any PI also can - all use KATC warranty anyways.

but cabrios and stuff that needs more specialized, harder to get parts, please think twice. e.g. the N54 is famous for HPFP failures, and PIs are last in line to parts replacements.
Err ... you mean 135i, 335i, 535i, 635i, 740i, etc. can suffer from HPFP failures?

Reporter
13-10-09, 16:47
http://www.businesstimes.com.sg/sub/news/story/0,4574,353432-1254945540,00.html?

Published October 7, 2009

Seven Palms smashes price records at Sentosa Cove

SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project

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


Will Seven Palms record sail down as history soon?
Let's watch.


a stack 3 unit was ... sold at $2699 psf in September ...
... slowly but surely crawing towards $3000 psf again

Oh my goodness!

The Sail resale has hit $2,699 psf in September?

Wow! Congratulations!

Reporter
13-10-09, 21:40
from a views perspective, singapore's strength isn't in sea view. that's all.
Will they see Singapore's strength?



http://www.avmaroc.com/images/actualite/thumbs/aid-149162_0.jpg
China’s billionaires rise to 130 despite global crisis
Allison Jackson
Agence France-Presse
Tuesday, 13 October 2009

http://static.plushasia.com/action/PageImage/5557.jpg

Car battery tycoon Wang Chuanfu topped a new list of China’s 1,000 richest people released Tuesday, which has 130 billionaires in an emphatic declaration of the Asian giant’s economic arrival.

Most of the super-wealthy on the Hurun Rich List, unlike Wang, made their fortunes in the property and stock markets – the focus of Beijing’s massive government stimulus efforts over the past year.

“China’s wealth is growing at breakneck speed,” Rupert Hoogewerf, the founder of the Shanghai-based Hurun Report which publishes the annual list, told a press conference.

“You can double the real number of billionaires in China to 260. There are still a large number of billionaires off the radar screens, managing to build up substantial wealth away from the public spotlight from property, the stock market and investments.”

Wang, the founder of rechargeable battery and electric car maker BYD, leapt 102 places to top the rich list after his fortune increased more than five-fold to 5.1 billion US dollars ($7.1 billion), said Hoogewerf.

The rich list gained 180 new members – despite the entry criteria for the latest list rising by 50% to 150 million US dollars.

Seven people moved into the top 10, in the biggest shake-up since the report started publishing the rich list in 1999.

Last year’s richest man, Huang Guangyu, who made his fortune building up the nation’s largest electrical appliance chain Gome, slipped to the 17th spot after he was detained late last year on suspicion of market manipulation.

Du Shuanghua, last year’s second-richest person, plunged 39 places to 41 as he battled a state-owned company for control of Shandong-based private steel manufacturer Rizhao Steel.

“Since our 2004 list, we have seen a ten-fold increase in the number of individuals with personal wealth of at least 150 million dollars,” said Hoogewerf.

“In 2004, we could only find 100 individuals with 150 million, whereas this year, we managed to find 1,000 individuals with 150 million.”

Rebounding capital markets and property prices pushed the collective net worth of the 1,000 richest people in China to 571 billion dollars by September 15 of this year, from 439 billion US dollars last year, the report found.

Zhang Yin, the woman who founded paper-recycling company Nine Dragons Paper and China’s richest person in 2006, was in second place.

Zhang was one of 102 women on the list – up from 88 last year and accounting for 10.2% of the total.

“Significantly, all are self-made, a remarkably high percentage compared with their Western counterparts. Chinese women now lead the world’s richest self-made women,” the report said.

Among the new people in the top 10 were husband and wife Huang Wei and Li Ping, who shot up 23 spots to fifth place through their 71% stake in Shanghai-listed property developer Xinhu Zhongbao.

Shares in Xinhu Zhongbao had surged 265% to 12.5 yuan in early September from 4.7 yuan a year ago, the report said, reflecting strong gains in the Chinese stock market.

Zhongwang Holdings chairman Liu Zhongtian moved into 10th place with 4.1 billion US dollars after the aluminium manufacturer raised 1.3 billion US dollars through an initial public offering earlier this year.

gfoo
13-10-09, 22:27
Err ... you mean 135i, 335i, 535i, 635i, 740i, etc. can suffer from HPFP failures?

the 740i is an N54B (2nd gen) so maybe that's fixed. but yes, hpfp failure is prevalent on all 1st gen N54s

echotrain
13-10-09, 23:22
the 740i is an N54B (2nd gen) so maybe that's fixed. but yes, hpfp failure is prevalent on all 1st gen N54s

So the 335? Is it first gen?

Hey Orange, can PM me the details of your purchase?

Reporter
14-10-09, 00:00
the 740i is an N54B (2nd gen) so maybe that's fixed. but yes, hpfp failure is prevalent on all 1st gen N54s

So the 335? Is it first gen?

Hey Orange, can PM me the details of your purchase?
I think N54 manufactured from 2008 onwards are the 2nd generation ones.

Anyway, all N54 (3.0 Bi Turbo) in 35i (e.g. X5 xDrive35i, 535i, 335i, etc.) will be replaced by N55 (3.0 Single Turbo) soon, starting from the next-generation 535i.

N54 will only be available in 40i (e.g. 740i) by then.

jlrx
14-10-09, 00:28
I think that price paid for cars and homes should be pegged to one's total cash asset. What should be the proportion? Don't talk about salary cos that's future income.

Total "cash asset" or total "net asset"? :confused:

What if a person's assets are mainly in properties and very little cash? :confused:

I think cars should not make up more than 5% of a person's networth. They are just for fun. :p


Smart move! :)
I will get my car from PI next time too.. Don't feel any difference in service or delivery standards buying from Authorized Dealer..

Might as well save the money and buy from PI.

But PI cars don't have that label behind e.g. Cycle & Carriage or Performance Motors ... then people will know it's from PI. How? :ashamed1:




Will Seven Palms record sail down as history soon?
Let's watch.


The Sail @ Marina Bay, 3 hours ago
a stack 3 unit was ... sold at $2699 psf in September ...
... slowly but surely crawing towards $3000 psf again


The Sail @ Marina Bay, 45 minutes ago
Oh my goodness!

The Sail resale has hit $2,699 psf in September?

Wow! Congratulations!

Reporter is a bit slow this time ...

The Sail @ Marina #61-04 at 2, Marina Boulevard

Transacted on 18/09/2009

936 sf @ $2,850 psf for $2,667,600 :scared-4: :scared-4: :scared-4:

Originally bought on 24/11/2004

936 sf @ $1,051 psf for $983,340 :doh: :doh: :doh:

Lord Anus
14-10-09, 11:30
the 335i is small fry

check this out

http://www.topgear.com/uk/car-news/djikstra-mercedes-SLS-2009-10-13

New car news


http://www.topgear.com/uk/assets/cms/bb7ea7c1-cdd7-4d74-b40d-177e58d66fba/Large%20Image.jpg?p=091013_05:26
13 October 2009 - 10:00
SLS: back in Black?

Now you've had a good long look at the Merc SLS (http://www.topgear.com/uk/car-news/mercedes-benz-sls-2009-09-10) - and if you haven't, may we humbly recommend the new issue of Top Gear magazine (http://www.topgear.com/uk/photos/top_gear_magazine_preview_november_issue), which features an exclusive shoot with the gullwinged supercar (http://www.topgear.com/uk/photos/top_gear_magazine_preview_november_issue) - surely your thoughts are now turning to the Really Hot Version. The Black Series.

Having already created harder, faster, nastier versions of the SLK (http://www.topgear.com/uk/mercedes-benz/slk), CLK (http://www.topgear.com/UK/mercedes-benz/clk/) and the SL (http://www.topgear.com/uk/mercedes-benz/sl-63), the evil Dr Frankenblack will soon turn his scalpel to the SLS. The gullwinged Black Series is expected to arrive some time in 2011, and here's what it might look like in ready-to-race form.

This isn't, we should stress, an official Mercedes (http://www.topgear.com/uk/mercedes-benz/) image, but instead a rendering from most excellent photographer-designer-chap and Friend of Top Gear, Sytse Djikstra (http://www.syts.nl/).

Taking the SLS's block-nosed silhouette and adding a fat bodykit, side-exit exhausts and proper racing bits including a roll cage, massive rear wing and, er, lots of stickers, we reckon it looks mighty fine. What do you think?

And, just as importantly, what will it be powered by? The stock SLS, remember, sees Merc's 6.2-litre V8 putting out 571bhp, while the CLK Black Series gets the same engine in 530bhp form, which plainly won't do.

The SL Black Series gets a far more appropriate 6.0-litre twin-turbo V12 putting out around 670bhp, which still sounds just a little bit modest for the ultimate AMG.

What would you like to see under that long, long Black Series bonnet?
Now watch Clarkson thrash the awesome CLK63 AMG Black:

//'); //]]>

orange
14-10-09, 13:52
i tot we were gonna stop going off topic hehe. mine's 2008 bought in 2009, new old stock, the PI was desperate. non DCT.

orange
14-10-09, 13:55
i have no idea whether it's the older or 'new' engine. omv is 50+k. echo what u wanna know?

Reporter
15-10-09, 10:47
Reporter is a bit slow this time ...

The Sail @ Marina #61-04 at 2, Marina Boulevard

Transacted on 18/09/2009

936 sf @ $2,850 psf for $2,667,600 :scared-4: :scared-4: :scared-4:

Originally bought on 24/11/2004

936 sf @ $1,051 psf for $983,340 :doh: :doh: :doh:
Err ... wait till your cousin from above (i.e. the North) pay you a visit at Sandy Island?

He may find them dirt-cheap when compared with $20,000-psf or $13,000-psf units up North and will just grab them and set a new Sentosa record?


"... this is a real case, hv encountered many mainland chinese in Sandy Island. They are not shock when i told them that the villas cost at least $15mil or $200psf up. the only comment is villa not big enough. they want something bigger! ..."


Don't worry, in a few month's time, I think they will want to grab anything big or small. Just follow on with them gently, but don't press them. These people do not like to feel pressured or hard selling. Keep the connection with them by talking about other topics rather the villas. Just my 2 cents. You know, last year before Sheldon raised the billions for LVS through private placement. He actually made a trip here to assure us that LVS is sound and well. He stopped short of boasting his connection with the elites as he does not want to appear arrogant. That is how important he view the Singapore project. That time, many thought he Kia-Si. But who expected his straight FLUSH a few days later?! I think this guy will be a true great marketer for Singapore after his baby is completed here. Who is more effective in convincing the elites about the Singapore story, through Sheldon's mouth directly or through our media ? I mean, you can scream in their ears how great Singapore is, they will not be moved unless they hear it from within their own circle.

Reporter
16-10-09, 14:21
http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
Richard Li eyeing Singapore as home for family
The Straits Times
Hong Kong
Friday, 16 October 2009

http://static.divaasia.com/action/PageImage/11062009105950/3945.jpg

Hong Kong tycoon Richard Li is planning to settle his girlfriend Isabella Leong and their newborn son Ethan in Singapore, according to newspaper Apple Daily.

Last week, he said mother and child, born in April, would temporarily live in North America to avoid media scrutiny.

On Sunday, he reportedly flew from Hong Kong to San Francisco to see them.

Without naming sources, Apple yesterday said Li thinks Singapore is more convenient than the US for him to visit Leong and Ethan, or even for the whole family to eventually live in.

Hong Kong is out as it is crawling with paparazzi.

Under his plan, Leong, an actress, will be a full-time mother in Singapore as he wants the best care for their son in his first 10 years of life.

Li is chairman of Singapore-listed Pacific Century Regional Developments, whose main businesses include insurance, hotel and property investment and development.

He would not be the first East Asian celebrity to eye Singapore as a home.
Actor Jet Li moved his two daughters and wife, Nina, to Singapore in 2007 for his children's education and actress Gong Li became a citizen last year.

focus
17-10-09, 02:41
Actually.. I'm not sure they made the right move coming here for the education system or the environment..

They might dull the kid.. and become one of the singaporeans....gosh..

tericia
17-10-09, 16:25
Actually.. I'm not sure they made the right move coming here for the education system or the environment..

They might dull the kid.. and become one of the singaporeans....gosh..

Singaporean should be so negative about singapore lah... Try to look on the bright side esp when these people think our country's worth moving to when they can go anywhere else in the world.:)

gfoo
17-10-09, 17:04
i doubt his kid will go thru the local edu system lah, prob like the other expats will send the kd to an intl sch. even if local school system will go for acjs/acsi ib type which is far different from typical local standards

Reporter
17-10-09, 18:35
Actually.. I'm not sure they made the right move coming here for the education system or the environment..

They might dull the kid.. and become one of the singaporeans....gosh..
Maybe the Singaporeans you have encountered so far are the dull ones?

Like any race in the world, there will be some dull ones among the race and some exciting one among it?

Maybe some Singaporeans are so attractive that others like to get engaged to?



http://static.divaasia.com/diva/img/logo_diva_top_02.gif
Chinese actress Vicky Zhao Wei to marry a Singaporean businessman
Diva
Wednesday, 23 September 2009

http://static.divaasia.com/action/PageImage/23092009083947/5294.jpg

Vicky Zhao Wei is said to be marrying a Singaporean businessman, known as Marco, at the end of the year. The Shin Min Daily News quoted Hong Kong reports that it was singer Faye Wong who brought the couple together, when she introduced the pair to each other at a night club in Beijing.

The two are said to have dated for two years. During that time, Marco has already proposed to Vicky twice. The couple have remained low-key about their relationship as Marco is not industry insider. He is said to be a businessman who is about Vicky's age, and owns two top night clubs in Singapore. The pair hit it off very well after being introduced by Faye, and passion quickly sparked between the two.

The couple's families approve of the relationship and they will be married in a low-profile ceremony at a secret location in Singapore later this year.

Marco's first proposal received a refusal from the actress, as she had work commitments. However, she said yes to him when he asked her again in a second proposal which took place two months ago.

However, Vicky's spokesperson Chen Rong has denied that the marriage will take place, and also denied any knowledge of Marco. When Hong Kong reporters asked if Faye Wong was the matchmaker for the couple, the spokesperson said: "These are personal matters, let's not discuss it. It's not important who introduced the couple to each other."

But at a promotional activity held at the beginning of the month for her movie "Hua Mulan", Vicky admitted that she already had someone in mind as a marriage partner when she was asked about it by a reporter, although she declined to elaborate on further details.

Before Vicky met Marco, Apple Daily reported that the actress was spotted holding hands with musician Li Quan, 37, at the opening of fashion store H&M in Shanghai in 2007. Up to two months before the photo was captured, it was still known to the media that she was dating Chinese table-tennis star Wang Liqin.

focus
17-10-09, 19:25
:) Ok.. Maybe it's not a good idea to say unsubstantiated views like mine on the forum.

jlrx
17-10-09, 22:12
i doubt his kid will go thru the local edu system lah, prob like the other expats will send the kd to an intl sch. even if local school system will go for acjs/acsi ib type which is far different from typical local standards

They will most likely go to schools like the Singapore American School where there is a $300,000 "booking fee" plus $25,500 per year school fees.

Property_Owner
17-10-09, 22:26
They will most likely go to schools like the Singapore American School where there is a $300,000 "booking fee" plus $25,500 per year school fees.

Guess all parents are e same

Reporter
19-10-09, 10:41
Singaporean shouldn't be so negative about singapore lah... Try to look on the bright side esp when these people think our country's worth moving to when they can go anywhere else in the world.:)
Agree.
Perhaps Beyonce is one example of an American?

... but which penthouse are they eyeing on? Who knows?


quoted from Today papers 2 Sep (pg 48)






Is she crazy in love with S’pore?


BEYONCE will be headlining the inaugural

F1 Rocks here later this month and, if unconfirmed

web rumours are to be believed, she
might not be checking into a snazzy hotel —
try a snazzy Marina Bay penthouse instead.
The cyber buzz is that the
Crazy In Love


singer and her rapper husband Jay-Z have
their eye on a US$8-million ($11.5 million)

penthouse with a “360-degree view of the
city and the sea”.
Website
zimbio.com quoted a source



as saying: “Beyonce and Jay-Z love Singapore
and don’t want to just stay at
a hotel while they are there. Some of
the apartments they’ve seen have been
fantastic but their favourite is the one of


the stunning views.”

can keep the towels she used & sell on ebay :D

Reporter
13-11-09, 10:55
http://graphics8.nytimes.com/images/section/realestate/greathomes/LRENytimesLogo.gif
Slowly, Foreign Buyers Drift Back Into Singapore
Sonia Kolesinkov-Jessop
The New York Times
Singapore
Thursday, 5 November 2009

After 5 consecutive quarters of decline in Singapore’s property market, the luxury segment is starting to improve, partly helped by the slow reappearance of foreign buyers.

According to statistics from the island-state’s Urban Redevelopment Authority, the overall residential property market has seen its shortest downturn in the past 18 years, with only four quarters of price declines before the official private home price index posted a spectacular 15.8% quarter-on-quarter jump in the third quarter this year.

Singapore’s government, startled by the sharp uptick, worried that a property bubble was forming and, in September, they discontinued a system that allowed buyers to defer the bulk of payment on apartments until the properties were complete. It also announced that next year it would resume land sales for development.

The sales rebound primarily has been driven by mass-market and mid-tier properties, but a few recent transactions indicate the high-end luxury sector also has started to pick up.

“With the financial crisis, developers saw potential with affordability and launched more projects at that level, with smaller-size flats to keep prices low. As a result, the mass market has really been driving this market recovery in the last few quarters,” said Chua Yang Liang, head of research for Southeast Asia at the Jones Lang LaSalle real estate agency.

“It’s only just recently with the improvements in regional economies that we’re seeing more developers releasing projects for the high end of the market.”

According to an analysis by CB Richard Ellis real estate, the number of apartments priced at more than S$4 million, or US$2.86 million, that changed hands totaled 210 in the third quarter of 2009, 87 in the second quarter and just 15 in the first quarter.

This compares with 280 in all of 2008 and 1,740 in 2007, at the peak of the market. A sales price record was achieved recently by SC Global Developments, which sold 6 homes at its 41-unit Seven Palms Sentosa Cove project for an average price of S$11 million, ranging from S$3,100 to S$3,400 psf for the 3- or 4-bedroom units.

Previously, the highest median price for a condominium on Sentosa was S$2,734 psf in late 2007.

The upscale Seven Palms project, the only beachfront residence of its kind in Singapore, is being built on Sentosa island, where a resort casino and Universal Studios theme park is scheduled to open early next year. The Seven Palms residences are being sold with 99-year leaseholds on the land, and are expected to be completed in December 2013.

Singaporeans are said to have bought 2 of the units, with the other 4 going to foreigners who are permanent residents of the city-state.
The Alba, another new upmarket development but in the more suburban central district, has sold 12 of the 18 available units, with prices averaging S$2,100 to S$2,500 psf for freehold units of 1,852 to 2,250 sqft, or 172 to 209 sqm.

Luxury projects delayed in the wake of the global downturn include the Marina Bay Suites, near the Marina Bay Sands, the other casino resort due to open next year and the 228-unit Quayside Isle Collection, also on Sentosa.

“Currently, we are seeing an increasing number of enquiries and interest in the luxury market as compared to three months ago,” said Tan Bee Kim, director of Wheelock Properties Singapore. The group is planning early next year to introduce Orchard View, a project in which each of the 30 4-bedroom condominiums will occupy an entire floor. Ms. Tan said the company has been receiving enquiries from locals and foreigners alike about the development.

Ong Choon Fah, executive director of the property consultant DTZ Debenham Tie Leung, believes developers are not yet in a hurry to release new high-end condominiums — but she expects that will change next year when the two casinos under construction, referred to locally as IR, or Integrated Resorts, will open. “This should help boost property prices, especially in the high end,” said Ms. Ong, estimating that luxury prices could rise as much as 10%.

Reporter
17-11-09, 08:48
http://www.businesstimes.com.sg/sub/news/story/0,4574,353432-1254945540,00.html?

Published October 7, 2009

Seven Palms smashes price records at Sentosa Cove

SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project

By KALPANA RASHIWALA


(SINGAPORE) Upmarket developer SC Global Developments is said to have sold 6 units at its Seven Palms at Sentosa Cove condo at between $3,100 psf and $3,400 psf - record prices for the upscale waterfront housing district.

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Oh well! How things can change!
Just a month and this piece of news is invalid now.

The 7 Coconut Trees have set a new record of $3,429 psf!

Strange! There are only 7 trees. I thought 100 trees would provide more value-for-money - 17 times more trees? Maybe the buyer didn't bring along his calculator?



Private Residential Units Sold in the Month of October 2009

Project Name ................... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Seven Palms Sentosa Cove . CCR ......... 7 .............................. 1 ................................ 3,429 ............ 3,429 ............ 3,429


Private Residential Units Sold in the Month of September 2009

Project Name ................... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Seven Palms Sentosa Cove . CCR ......... 6 .............................. 6 ................................ 3,353 ............ 3,273 ............. 3,091

Reporter
17-03-10, 00:57
Seven Palms didn't managed to break its hïgh of $3,429 psf set in October 2009.


Private Residential Units Sold in the Month of February 2010
Project Name ................ Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Seven Palms Sentosa Cove .CCR ....... 9 .......................... 1 ........................... 3,318 ............ 3,318 ........... 3,318

reporter2
10-12-14, 12:39
http://www.straitstimes.com/archive/thursday/premium/money/story/sentosa-cove-homes-sell-record-285m-20141204

Sentosa Cove homes sell for record $28.5m

Published on Dec 4, 2014 1:07 AM

http://i.imgur.com/riVg3pf.jpg
An artist's impression of the Seven Palms condominium at Sentosa Cove - the only beachfront luxury development here. -- PHOTO: SC GLOBAL DEVELOPMENTS

By Rennie Whang


TWO Sentosa Cove condo units have been sold at $4,131 per sq ft (psf) in a record price for the island, said the Singapore Real Estate Exchange (SRX).

Spanish tycoon Ricardo Portabella Peralta is thought to be the buyer of two adjacent units, for a total of $28.55 million, at Seven Palms Sentosa Cove. Mr Peralta is chief executive of Luxembourg-based investment holding firm Ventos SA, and is a board member of Danone Spain.

Going by caveats lodged, 12 units have been sold at the 41-unit Seven Palms. Developer SC Global declined to comment.

The sales are good news for the island, quelling some concerns that prices there have been in freefall, said Savills Singapore research head Alan Cheong.

For example, two units at luxury condominium Turquoise in Sentosa Cove were sold at heavy losses by private treaty for $3.88 million and $4.026 million in July, or about $1,400 psf. They had been bought in 2009 for about $2,550 psf and were put up for sale by their mortgagees, understood to be DBS Bank.

Transactions have also been thinning. Just four Sentosa bungalows were sold in the first 11 months of this year, down from 18 last year.

But Seven Palms may have bucked this trend owing to the exclusivity of being the only beachfront luxury development here, said Newsman Realty associate director Steve Tay.

"Demand (for such homes) has been reduced with the Additional Buyer's Stamp Duty measures imposed, but it is a matter of time before it will return, as Sentosa Cove is still the premium residential precinct for discerning ultra-high-net-worth individuals," he said.

[email protected]

reporter2
10-12-14, 12:47
http://www.businesstimes.com.sg/real-estate/spanish-tycoon-pays-s4100-plus-psf-for-pair-of-seven-palms-sentosa-cove-units

Spanish tycoon pays S$4,100-plus psf for pair of Seven Palms Sentosa Cove units

By Kalpana Rashiwala

[email protected]@KalpanaBT

3 Dec


THE overall Sentosa Cove condo market may be languishing, but SC Global Developments is understood to have sold two units at its Seven Palms Sentosa Cove at what could be a record price in the waterfront housing district: S$4,100-plus per square foot (psf).

The overall lump sum works out to S$28.55 million.

Spanish tycoon Ricardo Portabella Peralta is thought to be the buyer of the two neighbouring units on the third level of the four-storey condo, which is flanked by Tanjong Beach on one side with the adjacent greens of Sentosa Golf Course, and the South China Sea on the other.

Mr Peralta is chairman of Groupe Ventos and inherited a huge fortune, especially related to Danone Spain.

Seven Palms Sentosa Cove received the Temporary Occupation Permit in the first quarter of 2013. The low-rise project has only 41 luxuriously appointed beach-house apartments available in three, four and five-bedroom configurations ranging from around 2,700 sq ft to 8,000 sq ft.

The units picked up by Mr Peralta are believed to be around 3,400-plus sq ft each.

The project was designed by Kerry Hill Architects, which has designed many of the Aman resorts.

In 2012, Australian mining tycoon Gina Rinehart was reported to have paid a total of about S$57.2 million for two units at Seven Palms; the price was also thought to have crossed S$4,000 psf, setting a benchmark for Sentosa Cove.

While the news of Mr Peralta's purchase of the two Seven Palms units is not expected to improve sentiment for Sentosa Cove properties in the short term, "the news will be a good highlight to a very quiet and dismal year for Sentosa Cove", said Century 21 CEO Ku Swee Yong.

Transactions of condos as well as bungalows on Sentosa Cove have thinned drastically this year. A few months ago, two units in the Turquoise condo, both mortgagee sales, transacted at around S$1,400 psf - a record low since the 2006/2007 luxury housing boom, noted Mr Ku.

As to why Seven Palms still managed to set a record price, or at least a near-record price, Mr Ku said: "This is the only beachfront condo, and probably the only beachfront residence in Singapore. Morever, SC Global's products have a certain premium. . ."

The resort-style facilities of the project include concierge service, a Beach Club, 45-metre infinity pool with jacuzzi and barbecue terrace overlooking the sea.