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View Full Version : Seafront @ Meyer (D15, Freehold, CapitaLand)



mr funny
17-03-07, 14:40
Published March 17, 2007

Seafront @ Meyer prices start from $1,400 psf

Penthouses go for $2,100 to $2,200 psf, sources say


CAPITALAND is said to be pricing its freehold The Seafront @ Meyer condo at prices ranging from about $1,400 psf to $1,800 psf, excluding penthouses, say sources.

Sea-facing penthouses, of about 4,000 sq ft, are believed to be priced around $2,100 to $2,200 psf.

One penthouse, of about 4,100 sq ft, is said to be priced at about $9 million. CapitaLand is developing the 24-storey freehold project on the former Meyer Tower and First Mansion sites at Meyer Road.

Former owners of units in these developments who sold their homes to the former DBS Land in 1999 are said to have received invitations this week to have the first pick of units in the new development. DBS Land merged with Pidemco Land in late 2000 to form CapitaLand.

CapitaLand has appointed ERA to market the 327-unit Seafront @ Meyer condo. Sources suggest that previews for the development could start later this month. The project will have three blocks. The bulk of units will have three bedrooms, and range in size from about 1,500 to 2,000 sq ft. There will also be two-bedders and four-bedders, plus six penthouses. Market watchers say the pricing for The Seafront @ Meyer is in line with the $1,500 to $1,800 psf that GuocoLand has achieved for its nearby project, The View @ Meyer, on the former Katong Park Hotel site. The 23-storey freehold development will have 45 apartments.

Unregistered
17-03-07, 22:04
crazy prices that will make buyers go underwater again , re-enactment of post 1993 . People never learn .

Observer
19-03-07, 13:54
This project is between The Belvedere and The Atria At Meyer. $1,400-$1,800 psf is in line with prices of The View @ Meyer. The Belvedere has better view and is the better buy.

Meyer
19-03-07, 13:55
This project is between The Belvedere and The Atria At Meyer. $1,400-$1,800 psf is in line with prices of The View @ Meyer. The Belvedere has better view and is the better buy.

Is there a thread on The Belvedere?

Unregistered
22-03-07, 18:30
Is there a thread on The Belvedere?

Not yet but you can start one!

Preview of Seafront will begin in the first week of April but expect good units snapped up before that... due to CONNECTIONS... ;)

Bypasser
28-03-07, 15:18
So ..... when is the preview? This Friday?

Insider
29-03-07, 12:46
So ..... when is the preview? This Friday?

No. Probably next Friday.

eastcoast
29-03-07, 21:41
Is this even worth this price? Ah, stupid question. It's probably gonna be sold out on the first day.

Meyer
31-03-07, 22:12
Is this even worth this price? Ah, stupid question. It's probably gonna be sold out on the first day.


Probably sold out during the few days of preview.

Bypasser
03-04-07, 14:01
About 80 people were spotted queuing outside Seafront @ Meyer. A tent has been set up for them.

Unregistered
03-04-07, 17:18
About 80 people were spotted queuing outside Seafront @ Meyer. A tent has been set up for them.

Yes that is amazing. Looks like Meyer is getting hotter and hotter. Just last month, saw some units at the Makena and The Atria asking for $800 plus psf. At that time I thought it was pretty expensive, considering that The Belvedere was selling for the same price at launch. Never knew Meyer Road would come this far.

Unregistered
03-04-07, 17:54
this afternoon
http://i169.photobucket.com/albums/u234/aaronchong/Image019.jpg

Meyer
03-04-07, 18:06
The owners of The Belvedere will benefit from Seafront @ Meyer sale. The Belvedere offers the same view as Seafront @ Meyer.

joojube
03-04-07, 18:23
Are these people rich? Or are they being paid to queue up? They don't look very well to do, they look like more of the ah pek ah soh kind of variety. Anyway if they were earning huge salaries I don't think they have the time to sit down there.

Observer
03-04-07, 22:49
Better go and queue now. Otherwise have to buy 10% higher.

too late
03-04-07, 22:53
Better go and queue now. Otherwise have to buy 10% higher.

too late already. the channel 8 news tonight already showed the queue, and many people would have flocked there by now.

Observer
04-04-07, 11:41
too late already. the channel 8 news tonight already showed the queue, and many people would have flocked there by now.

Better late than never.

queue counter
04-04-07, 15:53
Better late than never.

TODAY newspaper (page 3) reported that at of last night, there were about 80 in the queue.

mr funny
04-04-07, 16:54
TODAY newspaper (page 3) reported that at of last night, there were about 80 in the queue.

Thanks! :) http://forums.condosingapore.com/showthread.php?p=2765#post2765

Unregistered
04-04-07, 16:58
TODAY newspaper (page 3) reported that at of last night, there were about 80 in the queue.

Heard that folks queue up there were hired by well connected folks who had already secured some of the best units. They certainly don't mind to buy onne more units when it was officially launched on Friday if this help to boost the sentiment and suck in the buyers and speculators. It is like playing the muscical chairs, as long as their will be music, you should do fine since they are holding the best units.

Snapper
04-04-07, 18:38
Take leave and have a picnic there tomorrow. Snap up the units on Good Friday. What a Wonderful World!

That' the way it should be! Whack! Whack! Whack!

queue
05-04-07, 15:22
How many people are there in the queue now?

Unregistered
05-04-07, 17:23
Heard that folks queue up there were hired by well connected folks who had already secured some of the best units. They certainly don't mind to buy onne more units when it was officially launched on Friday if this help to boost the sentiment and suck in the buyers and speculators. It is like playing the muscical chairs, as long as their will be music, you should do fine since they are holding the best units.

Back in the mid-90's when the king Albert Park was launched, the devloper was hosting a sale party at Shangrila Hotel for the 100-unit project and due to overwhelming response, lucky draw was conducted to select buyers. Those lucky ones are sitting on 40-50% loss today. SOme sell their units earlier during the SARS times were losing up to 60%. Lets play the muscical chair well and hope the game will be on?

Unregistered
05-04-07, 18:12
Back in the mid-90's when the king Albert Park was launched, the devloper was hosting a sale party at Shangrila Hotel for the 100-unit project and due to overwhelming response, lucky draw was conducted to select buyers. Those lucky ones are sitting on 40-50% loss today. SOme sell their units earlier during the SARS times were losing up to 60%. Lets play the muscical chair well and hope the game will be on?

40% to 50%? OK looks like it is time to buy King Albert Park! :D :D :D

Thanks for the info!

OMG
05-04-07, 19:38
My god! This is scary... reminds me of the property crash ten years ago...

Unregistered
05-04-07, 21:22
40% to 50%? OK looks like it is time to buy King Albert Park! :D :D :D

Thanks for the info!

Only problem is very few sellers willing to let go to swallow the 40% loss. You will see a few sellers ask 30% more than the last transactions. It is a funny world. If you are interested, do keep an eye on it, may be a desperate seller will emerge to sell his/her unit to you at 5-10% above last transaction price.

Property Cashier
05-04-07, 23:01
Don't just buy King Albert Park unit.
Do remember to buy The Seafront @ Meyer unit too.

10 more hours to go before CapitaLand take cheques. Don't say I never remind you.

101th
05-04-07, 23:27
There were about 100 people in the queue.

Watch the news article and video clip at:

http://www.xin.sg/article.php?article=4030

Derrick Ho
06-04-07, 18:10
Derrick Ho
Associated Press
6 April 2007

SINGAPORE (AP) -- Retired businessman Tan Phong is not only willing to fork out more than 1,000 Singapore dollars (US$660; €500) psf for a condominium apartment, he will even queue overnight on the street just to get his dream unit.

Singapore's private property market is booming, and the rising prices have not dissuaded Singaporeans and foreigners alike from snapping up prime real estate. Some condominiums have sold out within the first few hours of opening.

Tan was first in line to purchase a unit in a yet-to-be-built condominium to be called Seafront @ Meyer, in the Marina Bay area, near where the city's first casino-resort will open in 2009.

He hoped for a unit on the 18th floor or higher in the 24-storey building.

"The location is good and I want something that faces the sea," said the 66-year-old. "I love the sea breeze and that's exactly why I want a unit here."

Sales for the 300-unit Seafront launched Friday, but Tan and at least 80 others have camped out on the street since Monday morning, equipped with folding chairs, sleeping bags, umbrellas, playing cards and bottles of water. Many of them were hired by housing agents to retain a spot at the front of the line.

"I only stayed on the first night," said Tan, who recruited four friends to take turns standing in line for him. "It's very uncomfortable."

The condominium's developer, CapitaLand Limited - Southeast Asia's largest property developer - said the units will cost between S$1,400 (US$925; €689) to S$1,800 (US$1,190 ;€887) psf.

Singapore's Business Times reported last week the development's sea-facing penthouses may cost up to S$2,200 (US$1,455; €1,083) psf, with one to be priced at S$9 million (US$5.95 million; €4.5 million).

Private residential property prices in the ultramodern city-state have been escalating recently. Several new projects away from the city center are being priced 50% more than what they would have fetched a year ago, led by strong interest in high-end homes, according to Li Hiaw Ho, executive director of real estate firm CB Richard Ellis Research.

Condo prices in the nonprime areas of central Singapore rose 2.9% in the first quarter following a 2.2% rise in the fourth quarter of 2006, according to the government's flash estimate released Monday.

On the broader market, private property prices in Singapore rose 4.6% from the fourth quarter after rising 3.8% quarter-on-quarter in the last three months of 2006.

Singapore's property market stagnated in the wake of the Asian financial crisis, lagging other Asian cities like Hong Kong, but signs of a recovery began emerging in 2005, helped by the government relaxing rules such as borrowing limits.

The market got a major lift from luxury developments like One Shenton, where hundreds of units were sold for about S$2,000 (US$1,322; €985) psf at a soft launch in January this year.

An Orchard Turn development broke a record for residential properties in March, when penthouse units sold for more than S$4,000 (US$2,645; €1,970) psf.

"Barring any unforeseen circumstances, it is likely that residential prices will rise by a total of 10 to 15% for the whole year, led by high-end projects," Li said in a statement.

About 85% of Singaporeans live in public housing built by the government's Housing and Development Board. Private developers compete to provide housing for the remaining 15% of Singapore nationals, along with the sizable foreign population.

黄伟敬
06-04-07, 20:36
黄伟敬
5 April 2007

新传媒新闻报道,位于新加坡加东美雅路的一座豪华海景公寓引了许多购屋者的兴趣。尽管星期五才正式公开发售,买楼的人从星期一早上起就已经开始排队了。

烈日当空,尽管有大帐篷为排队的人潮提供一些遮盖,却抵挡不住暑气的闷热。排在前头的几名公众表示,他们星期一早上就来排队。

当时空地的闸门没有开,更没有帐篷,他们只能在篱笆外的人行道上排队。

第二天开始,发展商才为排队的人潮搭建帐篷,同时也提供免费的食物。在场排队的,有将近100人,以年轻人居多。据了解,他们大多数是为房屋经纪排队的,而且也并非孤军作战。

“今天已经第四天了。我们会轮流一人执早班,一人执晚班。很辛苦,但是只要有游戏、有朋友陪就行了。”

人多有伴,一些人也准备了各种法宝,让日子好过一些。

但有排队的人说,最辛苦的部分就是“缺乏睡眠,因为有食物供应,所以睡眠不足最辛苦。”

现场也提供流动厕所。想要冲凉的公众则会到东海岸公园的公共厕所去。

诸多的不便,就是为了想在星期五一早,选到心仪的公寓单位。

Golfer
07-04-07, 09:17
Wow! I didn't know they launched on Friday and it is this hot. I should have cancelled my Johor golf trip. I better go down later.

Unregistered
07-04-07, 10:53
All these positive post are definately by property agents , hahaha , damn lame .

damn lousy lah!
07-04-07, 16:26
All these positive post are definately by property agents , hahaha , damn lame .

Yah they are lame. What do you expect from ERA, hahaha!

First thing I saw was the list of units pasted on the wall outside the showroom. Damn, this feels like a fish market. Oh wait, I know why... the people around me are all Aunties and Uncles talking so loudly! They are cheonging the showflats with their grandchildren in tow, like they are cheonging the vegetable section in the wet market. "Must quickly grab, otherwise will loogi," that's the look on their faces. These don't look like the rich Aunties and Uncles. They look, speak, behave and act like they are in the HDB. Indeed, one look at the "sign-in" book confirmed mostly HDB addresses. Loaded with the pension money, are we?

I got a shock when I saw the model and the brochure rendering. Looks like some average HK or China (Shenzhen, Guangzhou, Shanghai) condo! And the brown color... eeeeeks! This is 2007, and it will TOP in 2011. When it TOPs in 2011, this building is going to look very very outdated. I think Capitaland getting worse and worse. Must be all their exposure to the China market. Now our condos also look like China condos.

Went to view the different configurations of show units. Nothing special, doesn't feel very luxurious. Ceiling not that tall. My god, the taps are not even branded. Only the cooking unit, which is Bosch. Customer paying $1700 psf for apartment, Capitaland can do better than Bosch, right?

Also, why is there is a HS? Capitaland must have designed this place a long time ago.

As for the units released by developer, only stacks 7, 8, 9, 10 and the 2-bedrooms stack 1 and 2 are released. They are holding back the units with best views.

Looking at the people who were discussing terms and conditions with the agents shocked me a second time. These are not rich people. These are people who live in HDB, work as dunno what, some probably spending all their retirement money on the 20% downpayment alone, which is possibly all they can afford.

I went out to the car park for a smoke. Mostly low and mid-end Japanese cars. Very few high-end continental cars. Just what kind of people are buying Seafront @ Meyer? What worries me is, can they afford to pay up when it TOP or not?

I remembered viewing The Belvedere. Private lift, low price at that time, better finishing, damn it is a much better deal than this Capitaland crap. However if I am looking to sell The Belvedere, I will price it higher than Seafront. Cos it is a better development, IMO.

I can see a bubble building up in this Meyer Road area. Very scary. No location fundamentals (not like Orchard or Marina/Keppel Bay) to support Meyer Rd at these kind of prices.

Unregistered
07-04-07, 16:46
Yup the people at this showroom are mostly HDB type. :( Not sure if they can sustain.

Showroom Hopper
07-04-07, 21:12
This is what I saw this afternoon just after the rain stopped.

Stacks 04 05 06 were not released then.
For the rest, mostly low-floor units left.

5 penthouses left.
1 sold for around $2,200 psf.

Stacks 11 12 13 are the best as they are unblocked.
The rest, including 04 05 06 , are partially or wholly blocked by The Belvedere and/or The Atria At Meyer.
Wonder why developer believes stacks 04 05 06 are the best.Stacks 01 02 03 faces Equatorial Apartments.

HDB idiots
09-04-07, 01:07
Yup the people at this showroom are mostly HDB type. :( Not sure if they can sustain.
Confirm early death sentence for many of the HDB players . Deferred payment (DP) should be called Deferred Problem . The problem is deferred until you have to pay up , hahahaha .

Showroom Hopper
09-04-07, 12:48
Confirm early death sentence for many of the HDB players . Deferred payment (DP) should be called Deferred Problem . The problem is deferred until you have to pay up , hahahaha .


Got HDB address meh?
When I sign in on Saturday, I was the only one with Condo address, the rest are landed addresses.

The buyers I know so far have private property addresses.

Anyway, the percentage of private property buyers with HDB address have slipped further. If there are HDB buyers, the percentage should have increased.

announce
09-04-07, 14:24
Capitaland announced during lunch time today, that 120 units have been sold.

The announcement is available at Singapore Stock Exchange website.

joe
09-04-07, 17:25
CapitaLand launches The Seafront on Meyer

Madeira
09-04-07, 18:02
120 units representing 65% of the 184 that were launched were sold. This is actually very poor response compared with some earlier launches which were sold out within 36 hours. What has happened?

hello
09-04-07, 18:17
120 units representing 65% of the 184 that were launched were sold. This is actually very poor response compared with some earlier launches which were sold out within 36 hours. What has happened?

Er ... maybe the price is too high?

Observer
09-04-07, 18:53
Er ... maybe the price is too high?


Cos' they are calling up The Belvedere agents/owners.

The Belvedere has better and unblocked views.
But the pricing is cheaper by $100-300 psf.
Somemore, can get rental returns soon in Dec07/Jan08.

ahlahdin
09-04-07, 23:50
CapitaLand sets new benchmark prices for condos in East Coast area

By Daryl Loo, Channel NewsAsia | Posted: 09 April 2007 1624 hrs


SINGAPORE : Developer CapitaLand has set a new benchmark price for private residential property the East Coast area.

The developer launched its condominium project - The Seafront on Meyer - over the weekend.

Over a third of the 327-unit project were sold at average prices of between $1,400 and $1,800 per square foot.

Back in January, GuocoLand had set new record prices of close to $1,700 per square foot for its neighbouring project The View @ Meyer.

CapitaLand has launched 184 units of the project for sale under its first phase.

The 24-storey freehold condominium is being marketed by estate agent ERA.

"Among the buyers, about 60% are local and 40% are foreigners. And among the local buyers, we found that about 60% of them are staying in the East Coast area, so it's likely they are buying for their own stay. Of the 40% that are foreigners, they consist of people from Malaysia, Indonesia and India, and we also have some buyers from Korea," said Jack Chua, president of ERA.

According to CapitaLand, the remainder of the project is likely to be launched in the next two weeks.

Analysts said the new benchmark prices being set outside the core central region was partly due to house hunters who had recently sold their homes en bloc.

"These are areas where there have been quite a few en bloc sales that have started or have already been transacted. And now, the deals are completed and demolition work is starting to take place, and people are being displaced from their homes," said Ku Swee Yong, director of Savills Singapore.

"For example in the Newton area, Grange Road, and in the Katong, Amber area, people are being displaced. They are looking for apartments still within their locality, but perhaps a little further away from the core central area. So price increases will start to spread out."

According to recent URA estimates, private home prices in the core central region jumped 5.6% in the first quarter, while those in the central region - which includes Meyer Road - went up by 2.9%. - CNA /ls

mr funny
10-04-07, 05:09
Published April 10, 2007

The Seafront 37% sold

By ARTHUR SIM


CAPITALAND'S The Seafront @ Meyer, launched last Friday, is already 37 per cent sold at an average price of $1,400-$1,800 psf. So far, 120 apartments in the 327-unit project have been sold - with one penthouse fetching just under $9 million.

Barely four months ago, the 121-unit Grand Duchess in St Patrick's Road sold out within two days at prices around $740 psf.

CapitaLand Residential Singapore CEO Patricia Chia said: 'District 15 has traditionally been a very popular residential area. In the old days, you had to be someone to live in Katong. I would say it will continue to be a prime district to locals and foreigners.'

The prices for The Seafront verge on those fetched in the traditional prime districts of Districts 9, 10 and 11. But as Ms Chia noted: 'If you compare the price to what is being transacted in the Orchard Road area today, (The Seafront) will appear cheap. Everything is relative.'

Of the 120 buyers so far, 40 per cent are foreigners - mostly investors from Indonesia and Malaysia.

Ms Chia said that of the local buyers, based on addresses registered, more than half appear to already live on the East Coast while about 20 per cent live in Districts 9, 10 or 11. She could not say whether any had been been displaced by recent collective sales.

The Seafront is being launched in phases, with 184 units released under phase one. Phase two, expected soon, is being marketed by ERA Singapore.

Commenting on the queues that formed before the launch on Friday, ERA president Jack Chua said most of those who queued ended up buying a unit.

On potential rental returns, Mr Chua said developments nearby are fetching between $4-$5 psf and rents in the area increased about 20 per cent last year.

Keppel Land, which launched its 1,129-unit Reflections at Keppel Bay recently, says more than 80 per cent of the 350 units launched have been sold at an average price of $1,900 psf. The highest price achieved was $2,520 psf.

Foreigners account for 40 per cent of the buyers, Keppel Land said. Its director (Singapore Residential) Augustine Tan added: 'Our initial plan was to only launch one pair of the tower blocks. However, we have released another high-rise block because of the demand. This is the final tower block that we will be releasing for sale to the public as of now.'

Foreign investors are interested in buying entire blocks, Mr Tan said.

Reflections comprises three pairs of tower blocks and 11 villa blocks.

Meyer
10-04-07, 10:37
Yup the people at this showroom are mostly HDB type. :( Not sure if they can sustain.



..........
Of the 120 buyers so far, 40% are foreigners - mostly investors from Indonesia and Malaysia.

Ms Chia said that of the local buyers, based on addresses registered, more than half appear to already live on the East Coast while about 20% live in Districts 9, 10 or 11. She could not say whether any had been been displaced by recent collective sales.
..........


HDB addresses? My foot lah!
60% from East Coast private addresses.
20% from Districts 9, 10 and 11.

$2,200 psf
10-04-07, 10:40
CapitaLand sets new benchmark prices for condos in East Coast area

By Daryl Loo, Channel NewsAsia | Posted: 09 April 2007 1624 hrs

Developer CapitaLand has set a new benchmark price for private residential property the East Coast area.

The developer launched its condominium project - The Seafront on Meyer - over the weekend.

Over a third of the 327-unit project were sold at average prices of between $1,400 and $1,800 per square foot.

Back in January, GuocoLand had set new record prices of close to $1,700 per square foot for its neighbouring project The View @ Meyer ........... recent URA estimates, private home prices in the core central region jumped 5.6% in the first quarter, while those in the central region - which includes Meyer Road - went up by 2.9%. - CNA /ls


$9 millions penthouse?
Wah!
Around $2,200 psf man!
This is the new benchmark for Meyer Road.
This is good!

Showroom Hopper
10-04-07, 13:55
$9 millions penthouse?
Wah!
Around $2,200 psf man!
This is the new benchmark for Meyer Road.
This is good!


$2,157 psf.
$2,200 psf one still available.

Early Warning
10-04-07, 14:04
$2,157 psf.
$2,200 psf one still available.


Those attending the City Scape Asia 2007 conference may grab the $2,201 psf penthouse. These people/fund have tons of cash. Better watch out!

www.cityscapeasia.com
http://www.cityscapeasia.com/Images/conferences/logo-cityscapeasia.png

Meyer
10-04-07, 22:33
Frederick Lim
Channel NewsAsia
10 April 2007

The Singapore property market has been performing well on a broad front across all sectors over the last two years to three years.

And according to National Development Minister Mah Bow Tan, a good part of it is due to strong foreign investment in Singapore's real estate.

Speaking at the Cityscape Asia property exhibition, he cited private sector figures which showed that Singapore's property market attracted a five-fold increase in foreign investment to S$5.4 billion last year, compared with 2004.

The Minister also said .......... these will be targeted at transforming the city into a better work-live-play environment.


Thank you, Mr Mah.
This is good! A Green Light finally.
Let's generate some profit out of the market.

AsiaOne
10-04-07, 22:52
AsiaOne
10 April 2007

Singapore is now the centre of attention among regional and global investment industries as it hosts its first Cityscape Asia 2007 - an international convention and exhibition in the property, investment and development sectors.

This global networking event, which opened at Suntec City this morning, is similar to last year's Cityscape Dubai, which drew thousands of participants.

Cityscape Asia, opened by Minister for National Development Mah Bow Tan, will highlight regional investment opportunities, iconic architecture and best practices in development to an international investment industry. The event will end on April 12.

In his welcoming speech this morning, Mr Mah listed major Singapore achievements to show why this is "a global city of opportunities."

He also said the event is an excellent opportunity for major investors, developers and governmental authorities involved in major property developments to share their plans and network with other key movers and shakers.

It was timely to have the event in Asia as this region has been thriving, led by strong and sustained growth in China and India and the much-anticipated revival in Japan, Mr Mah added.

"General sentiments are positive and upbeat, and these have in turn led to positive spin-offs in other sectors of the regional economies, including the real estate sector," he added.

On Singapore as a strategic link and important gateway for global investors, he said: "With our central location, political stability and cosmopolitan character, we are well positioned to provide social and economic links between the East and the West.

"Financial institutions based in Singapore trade around the clock, with Asia-Pacific centres, European and American markets, thus making Singapore a significant hub for 24-hour trading in foreign exchange and securities."

Participants also heard Mr Mah list Singapore's new areas for growth.

Said Mr Mah: "We have restructured our economy to ride the wave of globalisation. In the manufacturing sector, we are focusing on developing key industries such as petrochemicals and wafer fabrication. We are also investing heavily in R&D, especially in the areas of biomedical, water technology, and interactive and digital media.

"We have built up a strong base in biotechnology and biomedicine, with a healthy international reputation and a good concentration of scientists based here. Going forward, more investment will be put into clinical research.

"Singapore is already one of the leading global players in water technology. Two of the largest water companies in the world, General Electric Water and Siemens Water Technologies, have established R&D centres here. Led by home grown firms like Keppel, Sembawang and Hyflux, Singapore will remain focused on exporting our water technology to countries that have increasing demand for water, such as those in the Middle East and China.

"In interactive and digital media, our technological university has already tied up with a Japanese company to produce Japanese anime, and going forward, there will be many other areas in this industry that we can develop.

"Being a major global air hub, Singapore will also focus on growing the aerospace industry. We have plans for a big aerospace park to be built in Seletar.

"With the Marina Bay Financial Centre (MBFC) in place, we aim to attract even more financial institutions and business services, to further strengthen our position as an international financial centre.

"As the range of financial products and services grows, Singapore will leverage on its sound economic and financial fundamentals, conducive regulatory and business environment, as well as skilled and educated workforce to play an even larger role in global finance and business. Many multinational companies have already chosen to base their regional headquarters in Singapore, and today we are Asia's leading hub for finance, bioscience, aviation, transport and logistics.

"Tourism is another priority sector for growth. We have embarked on a number of high impact tourism projects such as the two Integrated Resorts - one at Marina Bay, another at Sentosa; the Singapore Flyer - a 165m giant observation wheel at Marina Bay; and the Gardens by the Bay - three waterfront gardens with a combined area of 100Ha right in the heart of the city. Our target is to double annual visitor numbers to 17 million and triple tourism receipt to $30 billion by 2015."

Mr Mah added that another key strategy to boost economic growth in Singapore is to strengthen economic ties with key trading partners to achieve greater market access for exports.

"For example, in March 2006, we established the Korea-Singapore FTA (KSFTA), which is a milestone in Singapore's free trade efforts as it is the first comprehensive economic pact between Korea and an Asian partner. We also started negotiations for the China-Singapore FTA in October last year. We have previously concluded major bilateral trade agreements with other key economies throughout the world, including the US, Japan, India, New Zealand and Chile.

"Singapore's extensive network of Free Trade Agreements, Avoidance of Double Taxation Agreements and Investment Guarantee Agreements, as well as its comprehensive air, sea and IT infrastructures, provides for the seamless flow of goods and services to markets around the world."

He said the continued expansion of the Singapore economy will underpin and drive the growth of the property market. Our property market has been performing well over the last two to three years over a broad front across all sectors. Demand for all property sectors have been rising. Annual increase in demand for office space rose to a six year high of 290,000 sq m in 2006. Demand for shop space also grew strongly by 127,000 sq m in 2006, the highest annual increase since 1993.

"The hotel Average Room Rate (ARR) for 2006 was estimated to reach $164, an increase of 19.6 per cent over 2005. The Average Occupancy Rate (AOR) for hotels in 2006 was estimated at 85 per cent, registering a growth of 1.4% point over that in 2005.

"Private housing also saw good take-up, with a total of 10,360 uncompleted private residential units sold by developers in 2006, a historical high annual take-up that surpassed the previous record of 9,860 units in 1994. Of these, 24.5% were bought by foreigners, including permanent residents."

Mr Mah said consultants have estimated that the total transaction value of investment by foreign companies in Singapore's real estate amounted to some S$5.4 billion in 2006, as compared to S$900 million in 2004.

"The investors in our real estate include companies based in the many countries, namely, the US, Hong Kong, Australia, Germany, Japan, Middle East and Indonesia," he added.

"Driven by positive sentiments the attractiveness of the Singapore Government's plans for key development areas, both local and foreign developers have been buying up development sites sold under the Government's sale of site programme over the past few years."

For example, development of the Marina Bay area has accelerated with the sale of sites for the Marina Bay Integrated Resort, the Marina Bay Financial Centre and the Collyer Quay lifestyle hotel and commercial development.

The announcement of the Government's plans to remake Orchard Road one of the world's premium shopping streets, has attracted investors to take up three prime sites in Orchard Road over the last two years.

"These developments will add vibrancy to the Orchard area and enhance its position as a premier shopping destination," he added.

REIT (Real Estate Investment Trust) is another growth area. Since the first REIT was launched in Singapore in 2002, it now has the largest REIT market outside Japan. Over the past four years, 15 REITs were listed on the Singapore stock exchange.

"Singapore has several key advantages for the continued development of REITs. Our pro-investor tax environment aside, Singapore's REITs are also well-diversified, offering investors exposure to income streams from the office, retail, industrial, hotel and logistics sectors. Several of the REITs listed in Singapore have also diversified offshore to Hong Kong, Australia and other Asia- Pacific countries. With these factors in place, Singapore has the potential to be the hub for REIT listings in the region."

Mr Mah also said that Singapore's pro-business environment is supported by a well-respected government with transparent and consistent policies that protect companies' physical and IP investments.

"These efforts have not gone unnoticed. Singapore, said Merrill Lynch in a recent report dated 30 Mar 2007, is 'becoming the Zurich and Monaco - not just of Southeast Asia - but of all Asia' as it develops into a premier private banking centre and a tourist destination with its casino resorts.

"More than just a good place to do business, Singapore is also a great city to live in. We welcome people from different cultures and offer a good quality living environment. We are ranked the best city to live in Asia by Mercer HR Consultants."

He pledged that Singapore will continue to step up its efforts to enhance the city as a great place to live, work and play.

"Our vision is to make Singapore a vibrant, global economy - a City in a Garden, with exciting developments, distinctive architecture, and enhanced greenery and waterfront access. Singapore will be an important destination, not only for business and travel, but also for international events and celebrations. With the development of many strategic areas, we believe that there are many opportunities for developers to invest in Singapore.

"This is also a good time to invest in Singapore. Our economy is structurally and fundamentally strong, which in turn supports a healthy recovery in all sectors of the property market. With prime and strategic sites being made available now and in the near future, we look forward to increased participation from local and foreign investors," he added.

Unregistered
11-04-07, 03:31
Yah they are lame. What do you expect from ERA, hahaha!

First thing I saw was the list of units pasted on the wall outside the showroom. Damn, this feels like a fish market. Oh wait, I know why... the people around me are all Aunties and Uncles talking so loudly! They are cheonging the showflats with their grandchildren in tow, like they are cheonging the vegetable section in the wet market. "Must quickly grab, otherwise will loogi," that's the look on their faces. These don't look like the rich Aunties and Uncles. They look, speak, behave and act like they are in the HDB. Indeed, one look at the "sign-in" book confirmed mostly HDB addresses. Loaded with the pension money, are we?

I got a shock when I saw the model and the brochure rendering. Looks like some average HK or China (Shenzhen, Guangzhou, Shanghai) condo! And the brown color... eeeeeks! This is 2007, and it will TOP in 2011. When it TOPs in 2011, this building is going to look very very outdated. I think Capitaland getting worse and worse. Must be all their exposure to the China market. Now our condos also look like China condos.

Went to view the different configurations of show units. Nothing special, doesn't feel very luxurious. Ceiling not that tall. My god, the taps are not even branded. Only the cooking unit, which is Bosch. Customer paying $1700 psf for apartment, Capitaland can do better than Bosch, right?

Also, why is there is a HS? Capitaland must have designed this place a long time ago.

As for the units released by developer, only stacks 7, 8, 9, 10 and the 2-bedrooms stack 1 and 2 are released. They are holding back the units with best views.

Looking at the people who were discussing terms and conditions with the agents shocked me a second time. These are not rich people. These are people who live in HDB, work as dunno what, some probably spending all their retirement money on the 20% downpayment alone, which is possibly all they can afford.

I went out to the car park for a smoke. Mostly low and mid-end Japanese cars. Very few high-end continental cars. Just what kind of people are buying Seafront @ Meyer? What worries me is, can they afford to pay up when it TOP or not?

I remembered viewing The Belvedere. Private lift, low price at that time, better finishing, damn it is a much better deal than this Capitaland crap. However if I am looking to sell The Belvedere, I will price it higher than Seafront. Cos it is a better development, IMO.

I can see a bubble building up in this Meyer Road area. Very scary. No location fundamentals (not like Orchard or Marina/Keppel Bay) to support Meyer Rd at these kind of prices.

People who live in HDB are also Singaporean, not some aliens or refugees from 3rd World. Not all people staying in condo and landed property are super rich too.

Open your eyes and ears to see and hear the real world. You sound like the kind of singaporean, most like to export to other countries, preferrably very far away.

If you cannot afford to buy, at least be a gentleman, and not be a sour grape.

You can always stay one nice corner, and watch the property prices go up, and hope for the "Bubble" to bust, and maybe after 10 to 15 years from now, your prediction may come true due to natural property price cycle.

Or be one of those brave souls believe and want our Singapore to do well, so that all can prosper together.

You seriously sound like those people who keep saying that there great grandparent shall have brought all the land in Orchard road when it is still a plantation over a century ago. And lucky for all of us, your GGP did not do so, or else they might have prevent the progress of our national development.

Teacher
11-04-07, 11:54
Do your homework.
Grab something quick.
Ride the wave.
Make yourself some decent profit.

Now!
Not after these foreigners (e.g. Indonesian, HongKonger, Malaysia, Thai, Middle East folks, Australian, etc.) have bought.
Now!
Don't repeat the msitake of queuing behind them.

Unregistered
11-04-07, 18:22
Do your homework.
Grab something quick.
Ride the wave.
Make yourself some decent profit.


Any suggestions? :)

Unregistered
12-04-07, 12:17
Published April 12, 2007

Homes: concern over deferred payment plans

Fears that such schemes are shifting financing burden from households to developers and builders

By SIOW LI SEN


(SINGAPORE) Deferred payment schemes - said to be one of the factors fuelling the local property market - are drawing the attention of the Monetary Authority of Singapore (MAS).

Such schemes are so popular with buyers that while the property market is red hot, it has not translated into healthy home loans growth.

Instead, deferred payment schemes have shifted the burden of financing to developers and construction companies, and away from households. The schemes also encourage speculators to buy property they have no intention of hanging on to.

And MAS is taking notice. Some bankers say it has been raising questions about banks' exposure to deferred payment schemes.

'MAS recognises that such deferred payment schemes may pose additional risks to the developer and its bank, and expects banks which finance such property developers to take this into account in their management of exposure to the developer,' an MAS spokeswoman said in response to BT queries.

According to MAS data on bank loans, building and construction loan growth rose a sizzling 18.1 per cent in February, following a 19 per cent gain in January. But home loans grew only 2.7 per cent in February and 2.1 per cent in January.

Among the local banks, OCBC and DBS grew their building and construction loans 27 per cent and 21 per cent respectively in 2006. UOB increased its building and construction loans 4 per cent.

OCBC spokeswoman Koh Ching Ching said the increase was due mainly to new drawdowns and loans to finance property development in Singapore, Malaysia and Greater China, with Singapore accounting for the bulk.

'OCBC has a traditional strength in real estate financing,' said Ms Koh. 'We have dedicated real estate departments within our business banking division for both large and small and medium real estate companies.

'The property sector is an important part of the Singapore economy and there are regulatory as well as internal guidelines to ensure that our exposure to this sector does not exceed certain limits.'

Citigroup economist Chua Hak Bin said deferred payment schemes have become prevalent in the local property market, accounting for more than 90 per cent of transactions at recent new Marina and downtown projects.

And he feels there is growing concern that this may be fuelling speculation and eventually will have a material impact on system-wide banking loans.

'Price increases in new home sales which offer deferred payment hit much higher levels,' Dr Chua said. This is because buyers on such schemes have time to flip or resell the property for a profit.

'The returns on capital can be substantial because of the implicit leverage,' he said. 'A 20 per cent increase in property value, for example, generates a 100 per cent return on the initial capital outlay.'

Deferred payment schemes that allow buyers to fork out only a 10-20 per cent downpayment, with the balance due on completion usually three years later, are not new. They were introduced in the early 1990s and offered again in the early 2000s. 'But it wasn't prevalent then,' Dr Chua said.

Not all developers offer deferred payment schemes. And some banks say overall progressive payment schemes are still more popular. This could be due to the higher cost of a property of at least 2-3 per cent if deferred payment is offered.

UOB head of loans Kevin Lam said: 'Progressive payment borrowers, while more, are not significantly more, than deferred payment borrowers.'

But an HSBC spokeswoman said that among its customers who have bought properties under construction, 60 per cent have opted for deferred payment schemes while 40 per cent have chosen progressive payment schemes.

Citibank business director Tan Chia Seng said: 'For those properties where deferred payment schemes are made available, we have seen an increase in interest from home buyers. 'The nature of the deferred payment scheme generally makes new projects more attractive to investors. However, home buyers who intend to occupy the properties may be interested in deferred payment schemes as well if the property they purchase is priced at an imputed interest rate lower than the home loan rate.'

Dr Chua warns though that buyers may be biting off more than they can chew, especially if the market tanks or the economy falters. The prevalence of deferred payment schemes suggests a mortgage surge will come eventually, he said. 'The day of reckoning will likely occur in 2009 when completions are expected to soar to 18,447 - more than double the typical annual supply.'

Maybank's head of consumer banking Helen Neo said deferred payment loans are more risky.

'Yes, as repayment only starts from TOP (temporary occupation permit),' she said. 'There could be changes in the borrower's income prior to TOP.'

Unregistered
12-04-07, 12:32
Do your homework.
Grab something quick.
Ride the wave.
Make yourself some decent profit.

Now!
Not after these foreigners (e.g. Indonesian, HongKonger, Malaysia, Thai, Middle East folks, Australian, etc.) have bought.
Now!
Don't repeat the msitake of queuing behind them.


Teacher, you only got theory lah.
Anyway, too late already.
The Thais have just joined the attack.
They buy entire development or multiple floors withour asking for discount.
Progressive payment somemore.

Unregistered
12-04-07, 14:15
Teacher, you only got theory lah.
Anyway, too late already.
The Thais have just joined the attack.
They buy entire development or multiple floors withour asking for discount.
Progressive payment somemore.


Teacher can't help you.
Only Mah BowTan can help you.
He told you to buy, so you just go an buy.
Tharman says property not overheated, so you just go and buy.

Unregistered
12-04-07, 19:28
It seems like all the recent media releases on property were carefully orchestrated. The impression they want to give us is: "Tycoons coming in and buying up property. Tycoons no need deferred payment. Therefore developers must scrap deferred payment scheme. To all Singaporeans, if you got no money, don't buy." Sounds good. At least it will prevent a bubble.

teacher
12-04-07, 20:30
Likely to be burnt if u buy high end properties now. The rental yield cannot sustain the price. Ardmore Park renting at around $14 - 15 K now cannot sustain the price of $6 mil per unit.

cannot make it
12-04-07, 23:20
The rich people who buy high end not to rent out, but as a holiday home.

In any case, Ardmore Park price won't drop very much. But Seafront maybe hard to finish selling at this price.

Caution when buying seafront: don't buy those without sea view. It is foolish to pay so much just for Meyer Road address if without sea view.

DR chee
13-04-07, 14:36
Dr Chua warns though that buyers may be biting off more than they can chew, especially if the market tanks or the economy falters. The prevalence of deferred payment schemes suggests a mortgage surge will come eventually, he said. 'The day of reckoning will likely occur in 2009 when completions are expected to soar to 18,447 - more than double the typical annual supply.'

Madeira
13-04-07, 15:52
The rich people who buy high end not to rent out, but as a holiday home.

In any case, Ardmore Park price won't drop very much. But Seafront maybe hard to finish selling at this price.

Caution when buying seafront: don't buy those without sea view. It is foolish to pay so much just for Meyer Road address if without sea view.

This is not true. See the classified ads. Many owners are renting out units at Ardmore Park.

Damn Lousy Lah!!!
13-04-07, 16:58
Hi it is me again. Just want to say "I told you so".

Capitaland offers only deferred payment scheme for the Seafront, similar to The View@ Meyer. That's why every ah kow ah ngiao was buying indiscriminately last week. A lot of them paid over the odds prices for low floor bad facing units without sea view. To do that in a development like Seafront is like, stupid lor. In fact not all units facing the sea have sea view. Only 11th floor upwards have. But it doesn't matter to the uncles and aunties, because only 20% down till TOP mah. They are all thinking, "HUAT AH!!!"

Because of the 100% participation in deferred payment scheme at Seafront and also 100% participation in deferred payment scheme at The View@Meyer, I can thus conclude that Meyer Road price appreciation so far has been a speculative bubble. A sham. Pity many people got suckered into it. If I have a unit at Belvedere, I would take profit at these prices right away because this price level at Meyer Road won't last. Let's see how many of these Uncles and Aunties at the Seafront and The View can pay up at completion (TOP).

Compared to areas with more solid fundamentals like the D9,10,11 area, Meyer Rd has really got nothing to back it up. Sea views are not forever, plus only a relatively few units have genuine sea view. The others are all either too far from the sea, partially blocked, or totally no view of the sea at all.

What's more, D9,10,11 haven't exactly been speculative. The average little retail buyer in this area have the money to pay up. For example, look at Trillium and Newton One. These two projects have only progressive payment or pay in full. Despite that, Newton One was sold out within 1 month, and the Trillium is currently left with only a few units. And these people buy to stay, not many of them would be renting out. They are whacking 2 or 3 units at one go, paying by progressive or full cash payment, I don't think an opportunity cost of $6000 rent a month will keep them awake at night.

As for the big boys: Thai Beverage boss' buyout of 4 floors of Orchard Residences and the whole Suites @ Cairnhill project, Chinese buyer whacking one whole stack of Solitaire, hedge funds coming in big time in prime 9, 10, 11 area, Kajima going in big time into Bishopsgate, these are just a few examples of "buy and hold" big players who see value in 9, 10, 11. If Meyer Road so good how come none of them bought in bulk, instead preferring to concentrate in 9, 10, 11?

Unregistered
13-04-07, 18:55
Hi it is me again. Just want to say "I told you so".

Capitaland offers only deferred payment scheme for the Seafront, similar to The View@ Meyer. That's why every ah kow ah ngiao was buying indiscriminately last week. A lot of them paid over the odds prices for low floor bad facing units without sea view. To do that in a development like Seafront is like, stupid lor. In fact not all units facing the sea have sea view. Only 11th floor upwards have. But it doesn't matter to the uncles and aunties, because only 20% down till TOP mah. They are all thinking, "HUAT AH!!!"

Because of the 100% participation in deferred payment scheme at Seafront and also 100% participation in deferred payment scheme at The View@Meyer, I can thus conclude that Meyer Road price appreciation so far has been a speculative bubble. A sham. Pity many people got suckered into it. If I have a unit at Belvedere, I would take profit at these prices right away because this price level at Meyer Road won't last. Let's see how many of these Uncles and Aunties at the Seafront and The View can pay up at completion (TOP).

Compared to areas with more solid fundamentals like the D9,10,11 area, Meyer Rd has really got nothing to back it up. Sea views are not forever, plus only a relatively few units have genuine sea view. The others are all either too far from the sea, partially blocked, or totally no view of the sea at all.

What's more, D9,10,11 haven't exactly been speculative. The average little retail buyer in this area have the money to pay up. For example, look at Trillium and Newton One. These two projects have only progressive payment or pay in full. Despite that, Newton One was sold out within 1 month, and the Trillium is currently left with only a few units. And these people buy to stay, not many of them would be renting out. They are whacking 2 or 3 units at one go, paying by progressive or full cash payment, I don't think an opportunity cost of $6000 rent a month will keep them awake at night.

As for the big boys: Thai Beverage boss' buyout of 4 floors of Orchard Residences and the whole Suites @ Cairnhill project, Chinese buyer whacking one whole stack of Solitaire, hedge funds coming in big time in prime 9, 10, 11 area, Kajima going in big time into Bishopsgate, these are just a few examples of "buy and hold" big players who see value in 9, 10, 11. If Meyer Road so good how come none of them bought in bulk, instead preferring to concentrate in 9, 10, 11?


How do you know that those who took deferred payment for Seafront and The View @ Meyer have no money to pay up?

Unregistered
13-04-07, 19:34
Aiyah east coast always play people out one. Look at those who bought Bayshore and Tanjong Rhu area when they were hot. All kena play out. Some are still in negative equity today. Atria and Makena also very expensive last time. But past few years, these 2 really boh lang ai (nobody want) until price dropped so low.

You buy east coast condo, you must know when to sell. Buy low, sell high. NEVER hold.

When market crashes, the average D9-D11 condo will hold prices well, at most lose not much. Why? Because the average D9-D11 condo have more or less similar prices in a few brackets within a $1000psf band, except for a few special outliers in Orchard priced super high. These few super high priced condo are bought by super rich foreign tycoons who have no need to worry about loans or installments.

However in the east coast when market crashes, those expensive east coast condos have potential to lose half of its value! Why? Because no geographical support. So far it is only Meyer Road condo that have sea view is hitting this prices, surrounding areas without sea view still half the price of Meyer Road. Tell me where is the price support?

Unregistered
13-04-07, 19:35
How do you know that those who took deferred payment for Seafront and The View @ Meyer have no money to pay up?

Hahaha many of them cannot even qualify for 80% housing loan. You know or not? That's why GOVT got to step in.

Curious
16-04-07, 11:40
Hi it is me again. Just want to say "I told you so".

Capitaland offers only deferred payment scheme for the Seafront, similar to The View@ Meyer. That's why every ah kow ah ngiao was buying indiscriminately last week. A lot of them paid over the odds prices for low floor bad facing units without sea view. To do that in a development like Seafront is like, stupid lor. In fact not all units facing the sea have sea view. Only 11th floor upwards have. But it doesn't matter to the uncles and aunties, because only 20% down till TOP mah. They are all thinking, "HUAT AH!!!"

Because of the 100% participation in .......... going in big time into Bishopsgate, these are just a few examples of "buy and hold" big players who see value in 9, 10, 11. If Meyer Road so good how come none of them bought in bulk, instead preferring to concentrate in 9, 10, 11?


Sounds like an opportunity for you to make some return from the market. Have you bought an unit in Seafront or The Belvedere. This is good man!

Unregistered
16-04-07, 12:57
Wanted to view the showflat yesterday afternoon, however it was too crowded and they shut the main gate from allowing cars to enter.

I went to view Casa Merah instead, and it was like a market even it cost $700-$730 psf.

Meyer
16-04-07, 14:04
Wanted to view the showflat yesterday afternoon, however it was too crowded and they shut the main gate from allowing cars to enter.

I went to view Casa Merah instead, and it was like a market even it cost $700-$730 psf.


Who asked you to go when they launch stacks 04, 05 and 06?
The queue started on Thursday.
You should go any other time.

Unregistered
16-04-07, 14:47
Go and see also shiok lah. See what kind of people buy this property. Can't decide if they are smart or stupid? I guess only time will tell.

Wallace Chu, DBS Vickers
16-04-07, 17:44
As Singapore has entered a new phase of development, higher property prices are inevitable.

People need to take a view that historical Singapore is no longer the same as the future Singapore. The economic drivers have changed. So you have to have a new mindset and accept the new price levels.

Unregistered
17-04-07, 07:52
In 2 to 3 years time, an average of $2000 psf will be common slight on Meyer Road.

Those waiting for property to crash in the next few years, are simply missing the point. No gimmick in the prediction, it is a matter of pure supply verse demand here.

Go study the area first.

Madeira
17-04-07, 09:17
In 2 to 3 years time, an average of $2000 psf will be common slight on Meyer Road.

Those waiting for property to crash in the next few years, are simply missing the point. No gimmick in the prediction, it is a matter of pure supply verse demand here.

Go study the area first.

Ha ha ha. In 1996, property analysts said that HDB Executive flats hitting $1 mil within 2 years was a forgone conclusion. They said it was a no brainer because the large sized HDB flats are valued for money and much bigger than normal 3 bedroom condo.

ah huat
17-04-07, 09:39
huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,
huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,
huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah,huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, huat ah, so that i can sell my tanjong unit at high price, hehehehe.

hayata1972
17-04-07, 09:52
Ha ha ha. In 1996, property analysts said that HDB Executive flats hitting $1 mil within 2 years was a forgone conclusion. They said it was a no brainer because the large sized HDB flats are valued for money and much bigger than normal 3 bedroom condo.
Madeira, you are very right. The media when they blast, they blast like no tommorow. If Sgs are dumb they will swallow whatever shit the media throws at them. As long as we know right? haha .:spliff:

Teacher
17-04-07, 12:13
Madeira, you are very right. The media when they blast, they blast like no tommorow. If Sgs are dumb they will swallow whatever shit the media throws at them. As long as we know right? haha .:spliff:


But the most important point out of all these criticisms is to invest in the private property market now and increase your wealth.

There is only so much the government can help you. The government cannot outrightly tell you to invest.

If you don't, your ranking will drop by 2.2 millions in 5-10 years time when Singapore becomes a top-tier first-world country. For example, if your ranking is 1,000,000th out of 4.3 million now, it will become to 3,200,000th out of 6.5 million in 5-10 years time.

We have to move forward to fend off the competitions from the region. We need these additional 2.2 millions "special" citizens to move ourselves into a different ball game. Please note that these "special" citizens are not your ordinary citizens in the past.

Madeira
17-04-07, 12:52
It is correct to say that we shd invest in private property. But u must choose the right property at the right time.
Right now I think the best properties to invest are the landed houses in Bukit Timah area. Recently, a freehold 13000 sq ft bungalow with swimming pool went for abt $6.5 mil. A 2000 sq ft unit at a 99 year project at Marina Bay also went for $6.5 mil.

I would choose the bungalow over the Marina Bay unit for sure.

Observer
17-04-07, 14:38
It is correct to say that we shd invest in private property. But u must choose the right property at the right time.
Right now I think the best properties to invest are the landed houses in Bukit Timah area. Recently, a freehold 13000 sq ft bungalow with swimming pool went for abt $6.5 mil. A 2000 sq ft unit at a 99 year project at Marina Bay also went for $6.5 mil.

I would choose the bungalow over the Marina Bay unit for sure.


But most of the foreigners/PRs are not allowed to buy landed property!

Madeira
17-04-07, 15:19
But most of the foreigners/PRs are not allowed to buy landed property!

Which is why u buy landed now cheaply and wait for government to revise the rules for foreigners to buy landed house.

If u r buying $4000 psf condo now, u probably be buying near the peak already. Why fight with the foreigners and get burnt? The risk premium is not worth it.

Some of the landed housing in Bukit Timah will be rezone for condo development soon, in the masterplan 2008. U will be able to sell a $4 million semi-D for $40 million when that happen.

Unregistered
17-04-07, 17:39
Which is why u buy landed now cheaply and wait for government to revise the rules for foreigners to buy landed house.

If u r buying $4000 psf condo now, u probably be buying near the peak already. Why fight with the foreigners and get burnt? The risk premium is not worth it.

Some of the landed housing in Bukit Timah will be rezone for condo development soon, in the masterplan 2008. U will be able to sell a $4 million semi-D for $40 million when that happen.

Madeira is right. Look out for the 'mixed landed' areas in D10 and D11 that consist of semi-d and terrace houses. Got lots of re-zone potential.

D10: the Bukit Timah Road side
D11: the Dunearn Road side.

Teacher
18-04-07, 10:50
It seems like all the recent media releases on property were carefully orchestrated. The impression they want to give us is: "Tycoons coming in and buying up property. Tycoons no need deferred payment. Therefore developers must scrap deferred payment scheme. To all Singaporeans, if you got no money, don't buy." Sounds good. At least it will prevent a bubble.



Published April 18, 2007

Penthouse may go for $5K psf


MAINBOARD-listed SC Global Developments is selling a penthouse in The Boulevard Residence (BLVD) by auction next month. .......... note this is more than double the $16 million an identical penthouse in the freehold development's other tower was sold for in May last year to high-flying Japanese fund manager Yoshiaki Murakami, who was later indicted for insider trading.

Both penthouses .......... will be conducted on May 20 jointly by Colliers and Christie's Great Estates exclusive affiliate Ken Jacobs.

BLVD comprises 46 units housed in two towers.


This is a lesson for those who keep saying that the property prices are too high. Is Murakami-san a fool who bought his penthouse at $2,xxx psf then? There are fools who keep saying these buyers are fools. Time has proven that he has made the right decision. Is he right or is he right? Double, you fool!

Unregistered
18-04-07, 11:17
This is a lesson for those who keep saying that the property prices are too high. Is Murakami-san a fool who bought his penthouse at $2,xxx psf then? There are fools who keep saying these buyers are fools. Time has proven that he has made the right decision. Is he right or is he right? Double, you fool!

I don't think real wealthy folks are stupid enough to mock-up the penthouse at this time. Those are mostly risk takers desperate to take the gamble and trying to make a killing. Real welathy folks and smart investors are those who are doing shopping spree in 1998 post- asian crsis, after 9/11 and in the midst of SARS. In fact, they are doing more selling than buying these days. These are the information I get from some of my friends who are in the line of "private bankers" serving clients whose networth is into 50-100 million range.

Teacher
18-04-07, 12:45
Please ignore all my previous posts. I am sorry that I have acted like a fool.

Onlooker
18-04-07, 16:39
I don't think real wealthy folks are stupid enough to mock-up the penthouse at this time. Those are mostly risk takers desperate to take the gamble and trying to make a killing. Real welathy folks and smart investors are those who are doing shopping spree in 1998 post- asian crsis, after 9/11 and in the midst of SARS. In fact, they are doing more selling than buying these days. These are the information I get from some of my friends who are in the line of "private bankers" serving clients whose networth is into 50-100 million range.


So there will be no taker at the upcoming auction of this The Boulevard Residence penthouse? I think otherwise. I think there will be a lot of offers and $5,000 psf will be hit.

Orchard
18-04-07, 16:40
This is a lesson for those who keep saying that the property prices are too high. Is Murakami-san a fool who bought his penthouse at $2,xxx psf then? There are fools who keep saying these buyers are fools. Time has proven that he has made the right decision. Is he right or is he right? Double, you fool!


This Jap is smart! Came in at the right time. Now he is laughing to the bank.

Unregistered
18-04-07, 16:43
This Jap is smart! Came in at the right time. Now he is laughing to the bank.

Smart meh? in 2005 BLVD was only about $1600 psf to $1800 psf. Look at the caveats. Those were the days when big units $psf was lower than small units $psf price, so the penthouse would have been selling for less than that $psf?

Unregistered
18-04-07, 16:44
The REAL smart one was Fann Wong, who bought her BLVD unit back in 2004 or 2005. Really cheap at that time.

teacher(eatshitndie)
18-04-07, 21:49
Please ignore all my previous posts. I am sorry that I have acted like a fool.
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.

Registered
19-04-07, 11:04
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.


You stupid lah!
Even if there is no Teacher, the market will continue to go up what!
The market will not be influnced by Teacher's comment lah.
The market goes up because of structural fundamentals.

Student
19-04-07, 11:28
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.


You think by scolding, threatening or killing Teacher, you can stop the market bull run? In my dream, you idiot!

Student
19-04-07, 11:31
We have learned in today lesson (from our Teacher) that those who keep saying that the property prices are too high are foolish. Is Murakami-san a fool who bought his penthouse at $2,285 psf then? There are fools who keep saying these buyers are fools. Time has proven that he has made the right decision. Is he right or is he right? He property value has doubled!

Unregistered
19-04-07, 11:33
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.


Hey! Market goes up. You benefit right?
Why get so angry?
Your property value is higher now. You should be happy.
Let's smile and watch the market rise!

..
19-04-07, 15:00
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.


Teacher OK lah!
Teacher teaches me to buy condo mah.
I bought and made some small money leh.
Wah liao! You dun like he/her to teach you, then look for another teacher lor.
But can see you need some lesson on property market leh.

hayata1972
20-04-07, 10:03
I hope this condo website does not follow the direction of mycondo website that has teenagers and childish pranksters coming in. This is a condo discussion website. I hope it stays this way.:doh:

Insider
20-04-07, 11:18
I hope this condo website does not follow the direction of mycondo website that has teenagers and childish pranksters coming in. This is a condo discussion website. I hope it stays this way.:doh:


Truly agree.

Meyer
24-04-07, 13:37
Citibank: Property Prices Will Rise By 30%
Daryl Loo
Channel NewsAsia
23 April 2007 2042 hrs

http://www.channelnewsasia.com/imagegallery/store/php1Duksw.jpg
Home prices in Singapore are expected to rise much more than those in Hong Kong, over the next two years, according to Citigroup.

Speaking at an Asia Pacific property conference in Singapore on Monday, Citigroup analysts say they see Singapore residential prices jumping by as much as 30% by 2008 compared to just 10% for Hong Kong.

Price tags for private homes in Singapore will be on the rise for at least the next two years, according to Citigroup.

It sees Singapore as being in the early stages of a cyclical upswing.

This is in contrast to Hong Kong, where the cycle is on the downtrend - and expected to end by 2009.

They say that Singapore prices are being driven by high occupancy rates, which have hit a record peak of 95.7%, and set to even climb higher over the next two years.

Wendy Koh, Director, Asia Pacific Equity Research, Citigroup, said: "If you look at the residential sector, occupancy rate right now is about 93.9% as at the end of 2006. If we take into account the completion this year which is only about 5,000 units, and last year's demand was about 9,000, and on annual basis the last 10-year average was about 8,000, occupancy rates should continue to rise.

"And if you take into account the 3,500 units that were sold en bloc last year, occupancy rate is actually closer to 95.5% last year. That is a record high as we have not seen that sort of levels before."

Citigroup expects occupancy to rise further to 96.8% this year, and 97.1% in 2008, as the level of demand far outstrips supply.

Over in the office sector, it is predicting rentals to rise 56% to $18.50 psf by the end of 2008, up from $11.80 currently.

And despite the recent run-up in property counters, Citigroup sees further upside in some choice picks.

Ms Koh said: "We like City Developments, Wing Tai, Allgreen. We also like Keppel Land for office play. For the first three stocks, it's more the residential exposure. If you look at City Dev and Wing Tai, they have been replenishing their land bank, and riding the upswing in the residential market."

Private home prices in Singapore rose 10.2% last year, and an estimated 4.6% in the first quarter of this year.


What about CapitaLand?
CapitaLand has Seafront @ Meyer, Orchard Residences, etc..
30% price increase is a lot!

Registered
25-04-07, 10:27
Published April 25, 2007
Profitable ways to ride out the year

We seem to still be at mid-cycle in our current bull market, so you'll lose out if you sit on the sidelines. Just jump in cautiously
By LIM SAY BOON

Much water has flowed under the bridge since my last column in Executive Money but not many of the fundamentals have changed.

I was an equities bull last July when the emerging markets meltdown looked to some like the end of the bull market. Around Christmas and again early this year, I turned a cautious equities bull, speaking of higher prices but warning of turbulence along the way - around the issues of the US economic slowdown and the downturn in the housing sector; the American equities market's need for an interest rate cut 'fix'; periodic spikes in volatility and resultant stock sell-offs; jitters surrounding the yen carry trade; and equities looking just plain overbought.

And while all the above concerns played out in rather spectacular fashion in end-February and early March, those same worries will almost certainly resurface later this year to spook the markets.

..........

And if you don't think you can tolerate the volatility of an outright long position on equities given the near-term volatility possibility, you can consider structured products that give you partial participation on the upside while protecting against some of the downside. There are also products that pay you relatively high yields on the basis of relative outperformance rather than outright market upside.

And there are also funds that offer long-short strategies to hedge against short-term equities downside or even funds that offer low correlation, multi-asset exposures, focusing on absolute returns.


Don't hestitate.
Buy now!

Adviser
25-04-07, 10:32
Published April 25, 2007
Home prices seen rising further this year

Building, financial services sectors to benefit as well

By UMA SHANKARI

The Monetary Authority of Singapore (MAS) yesterday said home prices are expected to continue to grow this year - after climbing 4.6% in the first quarter, the highest growth seen in 7 years.

The gain, which has so far been greatest for the luxury market, could also filter down to other mid to high-end segments which could benefit from the steady stream of buyers who have sold their houses in en bloc sales, Singapore's central bank said in its latest Macroeconomic Review.

MAS expects the property upturn to spill over to the construction and financial services sectors.

'Contracts awarded have trended up steadily from 2003 to reach $16.1 billion last year, a level not seen since 2000. This is expected to translate into higher certified payments and value added for the sector in the near term,' says MAS. 'Indeed, the recovery of the construction sector continued in early 2007, underpinned by ongoing work in the residential segment.'

A number of ongoing major projects including the Marina Bay Financial and Business Centre, the integrated resorts and the downtown MRT extension, are also expected to further fuel the recovery in the construction sector.

The recent spike in raw material costs caused by disruptions to the supply of sand has not resulted in delays in building projects, MAS says. But the bank warns that in the future, new developments could be slowed or delayed if sand and concrete become more difficult to obtain.

The large number of upcoming new commercial developments should also see more credit being extended to the building and construction industry, MAS says. This is expected to benefit the financial services sector.

And on the consumer loans front, while mortgage loan growth has remained tepid in recent quarters, some upside could be seen in the months ahead as the residential property uptick at the luxury end begins to spread to the broader market.

MAS also says that the recent upswing in property prices will have only a small impact on inflation this year. This is mainly because substantial price increases in the near term should be largely confined to the upper and middle segments of the private residential market, MAS predicts.

'On balance, the impact of rising property prices on consumer price index (CPI) inflation is likely to be modest, with the direct impact contributing only 0.1% point in 2007, compared with the average of negative 0.2% points over the past three years,' says MAS.


UBS says buy.
Citigroup says buy.
Now MAS also says buy.
Let's go make some money! Hurray!

Big Whale
28-04-07, 00:23
April 27, 2007, 1.22 pm (Singapore time)

Last updated: 2.22 pm

S'pore's home prices rise 4.8% in Q1


SINGAPORE - Singapore's home prices chalked up their biggest gains in over seven years, rising 4.8 per cent in the January to March period from the previous quarter led by the luxury segment, officials figures showed on Friday.

The Urban Redevelopment Authority (URA), said its price index for private homes rose to 136.5 points in the first quarter from 130.2 points in the Oct-Dec period last year. This is a 16.5 per cent increase from the first quarter a year ago.

Prices for private apartments in the republic's prime central district rose at a faster pace during the first quarter, climbing 5.5 per cent compared to the more modest 2 per cent gain chalked up by flats in the rest of the island republic.

Private home rents also grew at a faster pace between January and March, growing 7.6 per cent compared to 5.3 per cent in the last three months of 2006. Singapore's property market recovery gained momentum after the government introduced measures in July 2005 to ease real-estate financing rules and foreign investment.

Last month, CapitaLand and its Hong Kong partner Sun Hung Kai Properties said they had set a new pricing benchmark for Singapore residential property by selling some units in their downtown development for more than $4,000 (US$2,644) per square foot.

The URA said office space rents grew 10.4 per cent in January-March, moderating slightly from 11.6 per cent in the last quarter of 2006. -- REUTERS


http://www.ura.gov.sg/pr/text/2007/pr07-42.html


Still wasting time reading the reports?
Forget it! Go cheong now!

Happy Feet
04-05-07, 19:40
Yes teacher, you are a bloody fool. An idiot that is the propagada voice of the developers.
1). I am sure you bought some high priced crap, that is why you insist on hyping things up. Or
2). You are an agent, desperate to get sales, hopefully by hyping things up you think you may get more business. Or
3). You have something on your hand which you bought cheap, but you want the price to go up further.
Whatever it is, you definately have no right to be a teacher.



Minister is bullish about growth potential but says land and labour costs must stay competitive
Geert De Clercq + Mia Shanley
Reuters
Singapore
4 May 2007

Singapore can exceed its 3 to 5% growth potential over the next five to eight years, .................... that the government is not worried about inflation despite a planned two percentage point increase in the goods and services tax, a tight labour market, and a red-hot property market.

He said .................... said that rising property prices and higher salaries were a logical consequence of such policies, but added Singapore would remain competitive with other financial centres.

"We are quite confident that we will remain a lower-cost city among the high-value cities of the world. Amongst the financial centres of the world, we will remain lower cost for quite some time to come," he said, adding that office space costs were still about a third of those in London, 40% of those in Hong Kong and about 60% of those in Tokyo.

He said that the planned new financial centre at the city's waterfront Marina Bay would ease price pressure on office space. He also said that the government would not be shy to intervene in the property market to curb excessive price inflation but said "we are not anywhere near that yet."

"We are quite comfortable with the present stage of the cycle because the mass market is not involved in the frenzy," he said.


Hello angry fellow:

1. The government is not worried about the red-hot property market.

2. Rising property prices are a logical consequence of good economy policies.

3. We are still a lower-cost city among the global financial centres. We are about a 1/3 of London, 40% of HongKong and about 60% of Tokyo.

4. We are not anywhere near the point of excessive price inflation in property market.

5. The government is comfortable as the mass market is not involved in the frenzy.

Congratulations! You property value is going up. Are you happy now?

LB Kwek
08-05-07, 09:32
"We may be witnessing the biggest real estate boom in the history of Singapore."

- Tuesday, 8 May 2007

His Company
08-05-07, 15:30
Hong Leong has quietly soft-launched a new condo on former Eastern Mansion site and todate the development is 75% sold.

Prices range from $1,400 to $2,200 psf.

LB Kwek
10-05-07, 15:37
"We are considering retaining a portion in some new residential developments for rental income and capital appreciation."

- 10 May 2007

Team Renault
12-05-07, 23:21
It seems like all the recent media releases on property were carefully orchestrated. The impression they want to give us is: "Tycoons coming in and buying up property. Tycoons no need deferred payment. Therefore developers must scrap deferred payment scheme. To all Singaporeans, if you got no money, don't buy." Sounds good. At least it will prevent a bubble.


Orchestrated your head lah!
Don't buy your head lah!

In 1st gear, you say it's too high.
Now 3rd gear already, you still say it's high.
When will it not be high for you?
When in the final ratio and hitting 300 km/h?
By then it will be really high for you lah!

You will be priced out of the market by then.
Wake up!

LML
18-05-07, 18:18
CAPITALAND LIMITED
(Incorporated in the Republic of Singapore)
Company Registration No.: 198900036N

ANNOUNCEMENT

_________________________________________________________________________
SALE OF UNIT IN RESIDENTIAL DEVELOPMENT PROJECT
TO AN INTERESTED PERSON
___________________________________________________________________


CapitaLand Limited ("CapitaLand") wishes to announce, pursuant to Rule 910(1) of
the Singapore Exchange Securities Trading Limited Listing Manual, that its indirect
wholly-owned subsidiary, CRL Realty Pte Ltd, has granted an option to purchase a
unit in its property project known as "The Seafront on Meyer" to Mr Liew Mun
Leong, a Director and the President & CEO of CapitaLand. Details of the proposed
sale are as follows:

Unit number
:
# 22-12
List price
:
S$2,819,000
Discount given
:
5% staff discount off the list price in line with that given
to all regular full-time confirmed staff of the CapitaLand
Group pursuant to the rules of CapitaLand Staff
Purchase Scheme

The Audit Committee of CapitaLand has reviewed and approved the proposed sale
and is satisfied that the terms thereof are fair and reasonable. The Board and Audit
Committee of CapitaLand are satisfied that the terms of the proposed sale are not
prejudicial to the interests of CapitaLand and its minority shareholders.

Mr Liew Mun Leong had abstained from the Board's review and approval of the
proposed sale.


By Order of the Board



Low Sai Choy
Company Secretary
18 May 2007

Fedup!
18-05-07, 19:51
CAPITALAND LIMITED
(Incorporated in the Republic of Singapore)
Company Registration No.: 198900036N

ANNOUNCEMENT

_________________________________________________________________________
SALE OF UNIT IN RESIDENTIAL DEVELOPMENT PROJECT
TO AN INTERESTED PERSON
___________________________________________________________________


CapitaLand Limited ("CapitaLand") wishes to announce, pursuant to Rule 910(1) of
the Singapore Exchange Securities Trading Limited Listing Manual, that its indirect
wholly-owned subsidiary, CRL Realty Pte Ltd, has granted an option to purchase a
unit in its property project known as "The Seafront on Meyer" to Mr Liew Mun
Leong, a Director and the President & CEO of CapitaLand. Details of the proposed
sale are as follows:

Unit number
:
# 22-12
List price
:
S$2,819,000
Discount given
:
5% staff discount off the list price in line with that given
to all regular full-time confirmed staff of the CapitaLand
Group pursuant to the rules of CapitaLand Staff
Purchase Scheme

The Audit Committee of CapitaLand has reviewed and approved the proposed sale
and is satisfied that the terms thereof are fair and reasonable. The Board and Audit
Committee of CapitaLand are satisfied that the terms of the proposed sale are not
prejudicial to the interests of CapitaLand and its minority shareholders.

Mr Liew Mun Leong had abstained from the Board's review and approval of the
proposed sale.


By Order of the Board



Low Sai Choy
Company Secretary
18 May 2007


Wah liao! How can we fight with Mr Liew?
How many units left now ah?

Unregistered
02-07-07, 08:46
is this project a good buy given all the good news in the last couple of weeks?

Unregistered
02-07-07, 09:00
is this project a good buy given all the good news in the last couple of weeks?
Just might be now that Duchess Res is asking for 2200psf and former Eastern Mans(start of Meyer Rd) may be around 1800-2200psf indicative launch...

Observer.
02-07-07, 09:37
Just might be now that Duchess Res is asking for 2200psf and former Eastern Mans(start of Meyer Rd) may be around 1800-2200psf indicative launch...


Meyer Road is a good buy.
Just compare Meyer condos to Duchess Residences.

You can either buy:
1. Resale (on older properties), or
2. Primary Sale or Subsale (on new properties).

It all depends on your budget and residence requirement.

For Primary sale, there are:
1. Seafront On Meyer, and
2. The upcoming HongLeong condo.
Both condos are next to ECP.

For Subsale, there are:
1. The Belvedere,
2. The View On Meyer, and
3. Meyer Residences.
(4. Seafront On Meyer).

Both The Belvedere and The View On Meyer have no blockage.
The Belvedere is next to Katong Park and ECP.
The View On Meyer is opposite Katong Park.

Unregistered
02-07-07, 16:13
heard that the 4 bedrooms have been sold out yesterday except for 09-14 which will prob be sold today and only a hand ful of 3 bedrooms left. I guess people must be moving to take positions before the launch of hong leongs eastern mansion. given all the enbloc talks going ard meyer rd there must be a huge pool of potentials buyers requiring replacement units in the vincinity....

Unregistered
02-07-07, 16:52
prices at seafront just increased by approx. 100psf

Buyer
02-07-07, 23:31
prices at seafront just increased by approx. 100psf

This is good news for its neighbour, The Belvedere.

Unregistered
05-07-07, 17:30
what type of units are still avaliable here? got deferred payment?

Unregistered
06-07-07, 18:39
only a handful of 3 bedrooms and more 2 bedrooms left... but moving really fast. possibly due to people making bets before the launch of amberville and eastern mansion. afterall this is on a deferred payment scheme.

AsiaOne
06-07-07, 19:05
Prices are still affordable for middle-income and HDB heartlanders, he says
(Edited transcript of SM Goh's interview with CNBC)
Irene Ngoo
AsiaOne
6 July 2007

Property prices in Singapore are at the "higher end" now but this does not mean a property bubble forming, said Senior Minister Goh Chok Tong.

While he noted that the property market is active, he said the government is "not too worried" and is watching the property market closely.

Mr Goh said this in an interview with CNBC, when he was asked if a property bubble seems to be forming in Singapore.

"Property bubble is short-term. I think the property market is active, but at this stage, we are not too worried. The prices are at the higher end. We watch very closely," he said in the interview, aired on CNBC today.

"Prices for the middle-income and for the HDB heartlanders … are still quite affordable for Singaporeans in general. So, my worry will be where do we go from here? It's a longer-term worry. It's not a short-term worry. It comes back to my point about talent. For Singapore to grow, you need talent, talent from Singaporeans or within Singapore and talent from outside."

Private home prices have shot up across the board in Singapore because of the property boom, robust economy and influx of foreign capital. The continuing rising trend has raised concerns that the property is getting overheated.

Estimates released by the Urban Redevelopment Authority (URA) earlier this week show that private property is on a dramatic upswing with plenty of momentum. Prices for the April to June period rose 7.9% – the biggest jump since the third quarter in 1999, when the market staged a brief recovery before sliding into a lengthy slump. The increase comes on top of a 4.8% rise in the first three months this year.

The Senior Minister said some MNCs have complained about the rising rental because of the property boom here but they are not staying away.

Mr Goh was interviewed for a CNBC special marking the 10th anniversary of the Asian financial crisis. He was then Prime Minister of Singapore when the financial meltdown swept the region, bringing several Asian economies to their knees. Singapore was not spared either, and was forced to cut 20,000 jobs, wages and CPF contributions.

Asked if rising costs could put Singapore at risk again of another crisis, SM Goh said: "I myself do not think a financial crisis is going to happen. The stock markets in Asia, of course, are very lively. Share prices are generally at an all-time high, but the banking structure is strong. In Singapore, we are resilient and have hardly any non-performing loans which we need to worry about."

"We have separated the non-financial activities of the banks from the financial activities. Banks running hotels, for example, and other non-financial activities have been taken out. So, in Singapore, we are less concerned about another financial crisis. But in the region, I think we need to watch that. But generally, my sense is that the banking industry in the region is also resilient."

SM Goh, who is chairman of the Monetary Authority of Singapore, also made this point in an earlier interview yesterday with the BBC, saying that while Singapore's buoyant stock market may suffer a correction, a financial crisis is not on the way. He also said that the government should not interfere in the stock market.

Asked again by CNBC if rising costs - not just business costs but cost of living as well - could put Singapore at a disadvantage, he said this is a worry and the government is monitoring inflation.

He added: "Costs are always a factor, but generally, you do want the standard of living of Singaporeans to go up. And a higher standard of living means more income in real terms, in the real sense. We do monitor inflation."

"Costs - we do worry. But that means you've got to move into higher value-added industries, like biomedical services and financial services, education, health and so on. We cannot be doing things which we were doing before 1997, where China and India will become much more competitive. So, costs are always important, but we are not going to allow costs to prevent us from growing. Just move into the right sector."

Has this kept any MNC from setting up base here or setting up plants here?

SM Goh said: "We are seeing quite a few of these - not so much in the manufacturing side but MNCs in the sense of international financial institutions - more wealth management, hedge funds and other such regional head offices are being set up in Singapore."

On the biggest lesson from the Asian financial crisis, Mr Goh cited having a strong financial sector as a key factor to withstand such a shock.

"We realised very much earlier that the financial industry is a global industry and, therefore, you’ve got to be more aware of what’s happening in the world and in the region, in particular. So you've got to set up, not just internally but also externally, a system of regional surveillance of the financial performances of banks outside Singapore too. In other words, it requires cooperation from other countries as well."

Just as Singapore has learnt a lesson from the financial upheaval a decade ago, he said other Asian economies are also "very much more acutely aware of the importance of bank supervision and good corporate governance."

"Our neighbours' own banking sectors - as far as you can see - are also much more resilient today than during the financial crisis or just before that."

Unregistered
06-07-07, 22:24
Wow greenlight to buy seafront! buy buy buy !

Unregistered
10-07-07, 14:31
was at the showflat on sunday evening, it was pretty crowded with several people buying. As for myself i am still undecided between buying here or something more affordable at esta or one amber.

Observer.
10-07-07, 14:39
was at the showflat on sunday evening, it was pretty crowded with several people buying. As for myself i am still undecided between buying here or something more affordable at esta or one amber.


Buy neighbouring The Belvedere lah.
Same location with better view but at a much lower price.

Unregistered
10-07-07, 20:30
actually belevedere is already asking for the same price as seafront. eg no view or "katong" park view units are already asking for 1350psf upwards and this is with no deferred payment. seafront no view units are also priced at 1300+psf. If i am punting on "forward prices" i will much rather buy seafront on the deferred payment scheme or take progessive payment and get a no view seafront unit at 1200+psf which is cheaper than belevedere no view units. Not to mention seafront units are more spacious than belevedere. But of course if you are going for rental yield then you will go for belevedere. Personally i will much rather go for the capital appreciation play.

Meyer
10-07-07, 21:44
actually belevedere is already asking for the same price as seafront. eg no view or "katong" park view units are already asking for 1350psf upwards and this is with no deferred payment. seafront no view units are also priced at 1300+psf. If i am punting on "forward prices" i will much rather buy seafront on the deferred payment scheme or take progessive payment and get a no view seafront unit at 1200+psf which is cheaper than belevedere no view units. Not to mention seafront units are more spacious than belevedere. But of course if you are going for rental yield then you will go for belevedere. Personally i will much rather go for the capital appreciation play.


What are you comparing?

At $1,400 psf, I can get City-view (e.g. IR, The Sail, Singapore Flyer, etc.) units in The Belvedere.
At $1,400 psf, I only get no-view unit in Seafront On Meyer.

City-view means can enjoy the beautiful neon lights of the IR, The Sail, Singapore Flyer, etc. at night.
No-view means see the opposite condos along Meyer Road.

There is a difference.

KatongPark-view units in The Belvedere are priced from $1,000 to $1,300 psf.
They are definitely cheaper than the no-view units in Seafront.

Registered
10-07-07, 22:01
actually belevedere is already asking for the same price as seafront. eg no view or "katong" park view units are already asking for 1350psf upwards and this is with no deferred payment. seafront no view units are also priced at 1300+psf. If i am punting on "forward prices" i will much rather buy seafront on the deferred payment scheme or take progessive payment and get a no view seafront unit at 1200+psf which is cheaper than belevedere no view units. Not to mention seafront units are more spacious than belevedere. But of course if you are going for rental yield then you will go for belvedere. Personally i will much rather go for the capital appreciation play.


Don't talk rubbish lah.
What bigger unit?

Should Seafront price be higher than Belvedere? Yes, of course.
Is it because it has better view than Belvedere? No.
Is it because its units are bigger than Belverder? No.
is it because it is better built than Belvedere? No.
Its price should be higher because it is launched later.

Just like the new Hong Leong condo should also be priced higher than Seafront. Not because it is better, but because it is launched later.

That is the nature of the market. We just have to follow.
Please don't b.s. us saying this is bigger, that is better, etc..

bagus
11-07-07, 10:09
Don't talk rubbish lah.
What bigger unit?

Should Seafront price be higher than Belvedere? Yes, of course.
Is it because it has better view than Belvedere? No.
Is it because its units are bigger than Belverder? No.
is it because it is better built than Belvedere? No.Its price should be higher because it is launched later.

Just like the new Hong Leong condo should also be priced higher than Seafront. Not because it is better, but because it is launched later.

That is the nature of the market. We just have to follow.
Please don't b.s. us saying this is bigger, that is better, etc..

i think u have not seen seefront b4. the belverde largest normal unit is less than 1400sqft while the smallest 3br is 1593sqft......
land size is surely better than belverde.

Registered
11-07-07, 13:08
i think u have not seen seefront b4. the belverde largest normal unit is less than 1400sqft while the smallest 3br is 1593sqft......
land size is surely better than belverde.


Hello!
Of course I have been to Seafront showroom.
My point is size is not an issue here for investment.

Buy big, sell big.
Buy small, sell small.

Unregistered
13-07-07, 22:22
would you pay 1400+psf for the rochester (99 years) or seafront (freehold)?

Meaningless Question
13-07-07, 23:05
would you pay 1400+psf for the rochester (99 years) or seafront (freehold)?


Would you pay 2000+psf for The Sail (99 years) or Seafront (Freehold)?

Unregistered
14-07-07, 17:07
i own both the sail and seafront. i will rent the sail out (investment) and stay in the seafront.

Unregistered
14-07-07, 17:09
oh and i do not intend to buy the rochester as i already have a unit at one north. it may be of interest that Capitaland has an upcoming new launch (advertised by agents in today's classifieds). It is opposite the waterside and next to dunman highschool. Prices from 1,800psf. That should push up prices along meyer.

Unregistered
15-07-07, 09:44
oh and i do not intend to buy the rochester as i already have a unit at one north. it may be of interest that Capitaland has an upcoming new launch (advertised by agents in today's classifieds). It is opposite the waterside and next to dunman highschool. Prices from 1,800psf. That should push up prices along meyer.
Can you share more details of this new project, Capitaland recently sold out the Riveredge in that same area, did not know they had another launch there, will it be Lease/Freehold? Thanks

Unregistered
15-07-07, 11:26
it was advertised in saturdays classifieds under district 15. and it is freehold. agent i called said it will launch at the end of this mth or next mth. more likely next mth if you ask me

bagus
16-07-07, 08:58
oh and i do not intend to buy the rochester as i already have a unit at one north. it may be of interest that Capitaland has an upcoming new launch (advertised by agents in today's classifieds). It is opposite the waterside and next to dunman highschool. Prices from 1,800psf. That should push up prices along meyer.


think better verified with the developer cos i did not hear anything from the developer. they said that their next project will be at at river valley. let me verified and then post it online,

Unregistered
17-07-07, 16:45
any update?

Unregistered
18-07-07, 09:57
Hong Leong has launched the developement at the former eastern mansion site along meyer road in Hong Kong. The project name is Alto. Mid floor units with no seaview are going at 1,700 to 1,800+psf or about 200 to 300 psf higher than seafront. By the time this projects comes back to singapore for a "soft launch" i reckon prices would have gone even higher.

Unregistered
18-07-07, 14:10
wow this makes the seafront looks relatively cheap man. How much further can prices go?

Unregistered
03-04-08, 09:41
Still can invest in SeaFront with the current market condition? Unless seller is desperate else they will have to hold, Buyers have all the time to wait and see now.

Unregistered
03-04-08, 10:25
hows the construction going?

daveyong
18-07-08, 00:15
Best buy!! - Prime of the East Coast with prestigious Meyer Road address. Freehold 2 bedroom with floor area 1066sf. Spacious, beautiful layout with generous planter, quality finishes and thoughtful fittings.

Short drive to CBD, Changi Int'l Airport and city area. Easy access to highways like ECP, PIE and KPE.

Deferred Payment Scheme available. Estimated TOP in 2010. Price from $1320psf onwards. Choice units available, call now for Sales brochure and FREE discussion.

Dave Yong
ERA - Seafront on Meyer Project Specialist

888
18-07-08, 05:27
Best buy!! - Prime of the East Coast with prestigious Meyer Road address. Freehold 2 bedroom with floor area 1066sf. Spacious, beautiful layout with generous planter, quality finishes and thoughtful fittings.

Short drive to CBD, Changi Int'l Airport and city area. Easy access to highways like ECP, PIE and KPE.

Deferred Payment Scheme available. Estimated TOP in 2010. Price from $1320psf onwards. Choice units available, call now for Sales brochure and FREE discussion.

Dave Yong
ERA - Seafront on Meyer Project Specialist

Good unit. 1320 psf... that's cheap .

daveyong
18-07-08, 09:13
Yes, value for money. Buy to stay or for investment return - both captial gain and rental return are positive, especially come nearer to TOP or when Intergrated Resorts is ready. Act fast, before it is sold.

Dave Yong
ERA - Project Specialist
for Seafront on Meyer
+65-96969033
[email protected]
www.sinproperty.com

willing
11-09-08, 13:50
it is not fully sold yet

daveyong
11-09-08, 17:11
2 bedroom choice units on high floor at block 55 are still available. Non sea-facing.

C X
11-09-08, 20:37
Yes, value for money. Buy to stay or for investment return - both captial gain and rental return are positive, especially come nearer to TOP or when Intergrated Resorts is ready. Act fast, before it is sold.

Dave Yong
ERA - Project Specialist
for Seafront on Meyer
+65-96969033
[email protected]
www.sinproperty.com

Hi Dave,

No hard feelings ..act fast before it's sold,if it's really good,don't need to wait till now..should have been fully sold since launch last year...Mainly all those good facing units already sold out..left those low floor lousy stack etc still unsold for almost 11 months liao..

daveyong
12-09-08, 10:48
Hello CX,

Thanks for posting and giving me the opportunity to clarify.
As we know everyone purchase property with different needs and reasons. Though majority prefer sea facing or pool facing but there are buyers that much prefer non-sea facing, non pool viewing or even high floor. Like old British says 'Every unit has its owner'. As a project specialist, I always qualify buyers' need and in many case we witness projects 100% fully sold. Misconception to say remaining units are low floor, lousy stack unsold for 11 months but rather city view facing and due to extension of foundation works the showflat need to be closed.

C X
12-09-08, 17:20
Hello CX,

Thanks for posting and giving me the opportunity to clarify.
As we know everyone purchase property with different needs and reasons. Though majority prefer sea facing or pool facing but there are buyers that much prefer non-sea facing, non pool viewing or even high floor. Like old British says 'Every unit has its owner'. As a project specialist, I always qualify buyers' need and in many case we witness projects 100% fully sold. Misconception to say remaining units are low floor, lousy stack unsold for 11 months but rather city view facing and due to extension of foundation works the showflat need to be closed.

Oh i see..Individual preference..since it's in the east,sea view will be great!:)

Best of luck for your sales..

Cheers

buy
15-09-08, 17:06
yes i agree

everyone have its own needs........

Joe6816
16-09-08, 00:12
Best buy!! - Prime of the East Coast with prestigious Meyer Road address. Freehold 2 bedroom with floor area 1066sf. Spacious, beautiful layout with generous planter, quality finishes and thoughtful fittings.

Short drive to CBD, Changi Int'l Airport and city area. Easy access to highways like ECP, PIE and KPE.

Deferred Payment Scheme available. Estimated TOP in 2010. Price from $1320psf onwards. Choice units available, call now for Sales brochure and FREE discussion.

Dave Yong
ERA - Seafront on Meyer Project Specialist

Bro, as a fellow agent, I started this line in a hard hard way. I was lost when I started out. Wanted to sell everything i see, sell everything people tell me. You must focus. Only sell what you know and what you can remember. Know what is your product first before you talk to buyer or owner. Btw what is so great about generous planters? Plant tree instead of potted plant? Cheers

Joe6816
16-09-08, 00:24
Developers appeal to Govt over bay window ruling

Posted: 12 Sep 2008 08:39 PM CDT

THEY might look innocuous, but bay windows and planter boxes have become a hot topic of discussion between property developers and the Government.

The talks centre on a controversial decision by the Urban Redevelopment Authority (URA) to include the area of such design features in gross floor area (GFA) calculations.

Bay window and planter boxes, which often make up about 5 per cent of a condo's saleable area, used to be exempt from GFA calculations. But buyers paid developers for this area as it was provided with the unit.

The URA caught the industry by surprise on July 7 when it stated that the revised guidelines would take effect from Oct 7. It was reported at the time that the move would close a 'loophole' that developers had been exploiting.

Planter boxes were originally introduced to provide greenery and visual relief to high-rise condos.

However, the URA said feedback and its own investigations found extensive unauthorised conversions of planter boxes into balcony space or extensions of the living room - which defeated the original purpose.

This also led to the buildings being less energy efficient, said the URA.

But developers said yesterday it was a 'misconception' that they were profiting from it.

UOL Group chief operating officer Liam Wee Sin told The Straits Times that contrary to general perception, developers did not 'have it free'.

'There's a reason why it's there in the first place,' he said. 'It costs money to construct these features, and it is not given to us free.'

It is part of the 'residual land value' and developers factor this when bidding for a site, he said.

A Lianhe Zaobao report quoted market sources who suggested the change might lead developers to pay less for land.

It cited the sale of a site next to Tanah Merah MRT station that was awarded recently at $282 per sq ft per plot ratio (psf ppr). This was 11 per cent less than the $318.50 psf ppr attained by a neighbouring site before the GFA change was announced.

The president of the Real Estate Developers' Association of Singapore (Redas), Mr Simon Cheong, said he could not comment further because talks were 'in process'.

Mr Cheong, who was speaking at Redas' annual Mid-Autumn Festival celebration, said that developers were cautious in their short-term outlook due to high construction costs.

'Hopefully in 12 months' time, we'll be in a better state than now,' he said.

He cited Singapore's low interest rates and upcoming events such as the Formula One race and Youth Olympics for his bullish outlook.

On the price of real estate, he said that 'if it drops, it will not be much more'.

The replacement cost of apartments, including cost of construction, is very close to selling prices already, he added.

Mass market home prices are dependent on local demand and 'this is subjective to how the economy is'.

DW
20-09-08, 17:56
I have made a couple of enquiry on Belvedere and Seafront and from preliminary discussion from a number other investors, I understood Belvedere was one of the most controversial investment which Keppel Land (the developer) made and it was almost by sheer luck they managed to get away with this (or what it appears to be the case). I understand this was in some way or another, in what seems to be a mistake on the developer, whom back then purchased the land, not knowing there is/was another plot of land in front which could potentially block off Belvedere’s view completely (and potentially also block part of SeaFront's view??). I understand a number of buyers was sold the idea that the plot of land immediately next to Belvedere was actually a Park (which, apparently, is not the case based on the Master Plan 2008), and I believe most owners and prospective buyers continue to be under this belief still (which seems to be rather shocking!!).

I attached extract of the Master Plan 2008 (annotated) which is widely circulated amongst the investor community whom are looking at buying Belvedere and SeaFront. This will have an impact on our view of the pricing of this development, given the risk of another development in front, which is not unlikely at all!!



I wonder if anyone here can confirm the same or shed some light on this?

moonk123
20-11-08, 09:56
http://www.virtualhomes.sg/FileUpload/Project/208/Images/main.jpg

http://www.virtualhomes.sg/FileUpload/Project/208/Images/a1.jpg

http://www.virtualhomes.sg/FileUpload/Project/208/Images/a2.jpg

http://www.virtualhomes.sg/FileUpload/Project/208/Images/floor_typeB1.jpg

http://www.virtualhomes.sg/FileUpload/Project/208/Images/e1.jpg

see exciting 720 degree virtual tour of THE SEAFRONT ON MEYER from
http://www.virtualhomes.sg/theseafrontonmeyer

C.X
29-11-08, 17:40
Here's some construction pics for the Seafront @ Meyer:)
http://i195.photobucket.com/albums/z265/jdmautocare/CIMG0574.jpg
http://i195.photobucket.com/albums/z265/jdmautocare/CIMG0573.jpg
http://i195.photobucket.com/albums/z265/jdmautocare/CIMG0572.jpg
http://i195.photobucket.com/albums/z265/jdmautocare/CIMG0571.jpg

Joe6816
29-11-08, 21:52
Look slow, how come

C.X
29-11-08, 23:56
Look slow, how come

It's really slow:sleep: but lately the construction starts work very early in the morning.Damn:simmering: was disturbing my sleep every morning now:simmering: wandering can i complain or not?:(

Joe6816
30-11-08, 21:26
It's really slow:sleep: but lately the construction starts work very early in the morning.Damn:simmering: was disturbing my sleep every morning now:simmering: wandering can i complain or not?:(


How early is it? You can do a check with NEA on wat time they can start work. Dun tell me they do 5bx at 530. :)

C.X
30-11-08, 21:30
How early is it? You can do a check with NEA on wat time they can start work. Dun tell me they do 5bx at 530. :)

Bro,

They start work about 7.30am in the morning..Kaoz:simmering: even sunday they don't let me off:rolleyes:

Joe6816
30-11-08, 21:35
Bro,

They start work about 7.30am in the morning..Kaoz:simmering: even sunday they don't let me off:rolleyes:


Sunday? Guess they are late for TOP. Look at the pics tells all.

C.X
01-12-08, 09:12
Sunday? Guess they are late for TOP. Look at the pics tells all.

Haiz.Have to bear with it.

Seems like Meyer Residences should be able to TOP around next year Jan or March.:)

gtr
07-04-10, 21:20
Any updates on the Seafront on Meyer lately ? Looks like its gonna TOP real soon....
:)

kstan2
07-04-10, 23:43
I think going to TOP soon.. but the design looks like HDB..very dissappointing

gtr
08-04-10, 18:39
I think going to TOP soon.. but the design looks like HDB..very dissappointing

Is it ??? Look like HDB meh....? Looks quite cool n heard from some agents its a luxury condo n as good or better than Belvedere .....

just my 0.002 cents............:)

kstan2
08-04-10, 22:05
walked passed the other day.. the blocks are squarish... painted white.. not as curvy as belvedere.. definitely no fight with river gate (also by capital land).. really look like HBD or HUDC from the outside.. maybe they have nice pool and facilities.. but from the outside, its nothing great.

gtr
14-04-10, 17:57
Happened to pass by meyer n find that seafront is going to TOP real soon..
Looks more like a resort to me IMHO ...
Guess the ppl staying there will b enjoying themslves in a tropical like estate...:)

More of the sun , sand n the sea 

cheers!!!:)

Reporter
15-04-10, 16:44
Private Residential Units Sold in the Month of March 2010
Project Name ........... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
The Seafront on Meyer . RCR ....... 308 ...................... 10 .......................... 1,506 ........... 1,459 ........... 1,355

kstan2
15-04-10, 19:38
Private Residential Units Sold in the Month of March 2010
Project Name ........... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
The Seafront on Meyer . RCR ....... 308 ...................... 10 .......................... 1,506 ........... 1,459 ........... 1,355


Do you guys think it is worth buying seafront at this price? What is the upside? Is Meyer road really worth the premium? How much will you pay for a unit without seaview?

dragonred
16-04-10, 09:00
Do you guys think it is worth buying seafront at this price? What is the upside? Is Meyer road really worth the premium? How much will you pay for a unit without seaview?

Meyer Road is probably the most prestigious area on the East Coast. The upside or downside for this property can be benchmarked vs. Belvedere, next door. Seafront is very close to Katong Park, Fort Road & of course the access to ECP (vs. say the Atria). While the city view is spectacular, the West sun in an all-glass condo will be punishing. There's also the constant hum of ECP traffic to deal with.

chho
16-04-10, 11:04
Do you guys think it is worth buying seafront at this price? What is the upside? Is Meyer road really worth the premium? How much will you pay for a unit without seaview?

For the price you pay, you might as well be buying Aspen Heights or Valley Park in river valley for about 1200 to 1400psf. It's not about design. It's not about view. It's not even about brand new. It's always about location, location, location.

Blue
16-04-10, 12:20
For the price you pay, you might as well be buying Aspen Heights or Valley Park in river valley for about 1200 to 1400psf. It's not about design. It's not about view. It's not even about brand new. It's always about location, location, location.

Spotted another D9/10/11 supporter stalking D15! :doh: Sorry, let me correct you. Investment in prime district is not about location too. It's about carrot, carrot, carrot. The more carrots, the merrier. :p

kstan2
16-04-10, 22:38
Just for comparison .. Seafront, Belvedere and The View... which one is better if about the same price?

jc
16-04-10, 22:55
For the price you pay, you might as well be buying Aspen Heights or Valley Park in river valley for about 1200 to 1400psf. It's not about design. It's not about view. It's not even about brand new. It's always about location, location, location.
For Aspen Heights yes but not for Valley Park. Though Valley Park location is slightly better than Meyer, but because it is an old project where building already depreciated, it's a close comparison with Seafront @ Meyer :)

smartinvest
23-04-10, 09:59
For the price you pay, you might as well be buying Aspen Heights or Valley Park in river valley for about 1200 to 1400psf. It's not about design. It's not about view. It's not even about brand new. It's always about location, location, location.

You have units in Aspen Heights or Valley Park to let go? Otherwise why are you promoting them. There is a beach, Golf course and a Casino near Seafront . Does your Aspen Heights or Valley Park has any equivalent facilities?

kstan2
23-04-10, 22:48
I think the Meyer area still have lots of upside.. potential MRT at Katong Park, less congested ECP with the new coastal expressway, the huge piece of land at marina east for potential 3rd IR or disneyland...so I think the current price in this area is still very reasonable

luzman
23-04-10, 23:31
Spotted another D9/10/11 supporter stalking D15! :doh: Sorry, let me correct you. Investment in prime district is not about location too. It's about carrot, carrot, carrot. The more carrots, the merrier. :p
This Mr Blue don't know what he is talking about...just ignore him....don't know what this bunny is thinking about his carrot?

Maybe he means people who buy seafront is carrot???

gtr
25-04-10, 03:12
I think the Meyer area still have lots of upside.. potential MRT at Katong Park, less congested ECP with the new coastal expressway, the huge piece of land at marina east for potential 3rd IR or disneyland...so I think the current price in this area is still very reasonable

Fully agree .... Fully agree

gtr
06-07-10, 20:43
Heard Seafront had TOP ? ? anyone knows :)

richardsng_era
13-02-11, 07:57
Dear Seafront Owners & Specialists,

3+1 wanted by English Male Tenant (SPR), unfurnished, S$6k, 1 year. Please revert if you would like to rent out your premises in The Seafront @ Meyer. Thanks. Happy Valentine's Day.

forest491
13-02-11, 09:16
I think the Meyer area still have lots of upside.. potential MRT at Katong Park, less congested ECP with the new coastal expressway, the huge piece of land at marina east for potential 3rd IR or disneyland...so I think the current price in this area is still very reasonable

Onli waiting for Garmen to announce it's Masterplan den Carrots will grow Bigger... They had dump in so much $$$ & sand, sure muz take back de mah... Ofcoz also witness e huge success of the 2 IRs, now they really reap the potential of reclaimed land!!!

bargain hunter
13-02-11, 15:35
its amazing how i see a 2000 sq ft 4 bedroom at seafront asking for 6.8k rent while a slightly smaller 4 bedroom at dakota asking for 8k. :ashamed1: