You people were all distracted by Rivergate and Cosmopolitan fire sales, you forgot about Urbana. This one launched in 2004 for only $900psf and location better than RG and Cosmopolitan!
Printable View
You people were all distracted by Rivergate and Cosmopolitan fire sales, you forgot about Urbana. This one launched in 2004 for only $900psf and location better than RG and Cosmopolitan!
Yes, but what is the last psf the place transacted for? I pass it on the way to work each morning. Nothing spectacular but the location is excellent indeed.Quote:
Originally Posted by orange
Urbana still expensive. Cosmopolitan looks the best, but Urbana location is better than the other 2. Rivergate has too many units and speculators, going to end up like Park Infinia, if one unit fire sale, the rest fall li
e dominoes as everyone rushes for ex
Because of the sheer number of units available, Rivergate will never hit a higher peak price than the other 2 during the next property boom.
that means there is a possibility to buy Rivergate at $700 psf as speculators may have problem to secure a housing loan. Bus Urbana have holding power since no loan issue, thus no way to negotiate, right?Quote:
Originally Posted by orange
Rivergate 700 psf v.s. Urbana 1000+, which one is hotter?
i was at a friend's place yesterday ...Robertson Blue .. i saw from his lift lobby ...dark soot mark on Urbana ... we cfm that it looked like there was a fire in one of the units there somewher on the 5-8th floor ..Quote:
Originally Posted by orange
does anyone know if there was a fire there recently ??
Dear all,
My clients from overseas are coming to Singapore on Mid October to invest in private residential properties. Urbana is one of their choice condo.
Their requirements are as follows:
1) 2 bedrooms or smaller;
2) Regular shaped interior;
3) Attractive pricing;
4) Floor Plan required;
5) Interior photos provided will be wonderful
Call me at +65-92993342 or email property details including floor plan & interior pictures to [email protected] before Thursday, 8 Oct 2009 3pm.
Quote:
Originally Posted by orange
How's Urbana doing now? I agree location is very good. Just a bit if construction noise from MPR
unavoidable if you want a place around that area... but yes, Urbana is a very nice development... however, between RG, Cosmo and Urbana, i still prefer RG...Quote:
Originally Posted by Property_Owner
the "walkable" distance to Great world is a big pull factor for me.
RG is also quieter compared to Cosmo and Urbana, as the latter 2 is next to major roads...
the architecture of urbana has finese and i must say it is very nice to even look at. I however do not particularly like the fact that it is positioned at the cross junction.
Congratulations to those who has kept their faith!
Urbana has a nëw hïgh at $1,675 psf!
Urbana
Address ............................ psf ............... Area ........... Price ............ Contract Date
1 River Valley Close #33-01 .... $1,675 psf .... 1,313 sqft .... $2,200,000 .... 1 Feb 10
Are you talking about the "faith" in the Propertism religion? The belief that property prices will always go up in the long term, hence properties should only be bought and not sold?Quote:
Originally Posted by Reporter
However, I think you have made 2 terrible mistakes in your post above! :scared-4:
Firstly, the condo at the address "1 River Valley Close" is not called "Urbana". It's called "Chen Yuan Apartment, 1 River Valley Close". "Urbana" sounds such a yucky name, it's totally uncool! :puke:
Secondly, the price at this "Chen Yuan Apartment, 1 River Valley Close" is not so ridiculous. How can it be $1,675 psf? You think it's made of gold? It should only be around $167.50 psf.
Look at the newspaper classified below posted in March. Isn't this month March? :confused:
A 2,600 sq. ft 4 bedrooms at Chen Yuan Apartment is asking only $430,000. That's only $165 psf, which is less than 10% of the figure you posted above.
If you don't believe, you can call the agent Rolf. His telephone number is 400609.
http://i305.photobucket.com/albums/n...bana198003.jpg
If you want to buy this "Chen Yuan Apartment, 1 River Valley Close", then you better act fast!
District 9 property prices go up very very fast! :scared-4:
In another 8 months' time (i.e. November), it will go up 45% to $240 psf, and no longer just $165 psf.
If you don't believe, you can call Pace Property in the ad the bottom. Their telephone number is 430988 or 430989.
Warning: Please don't call these agents using your mobile, or else your mobile will crash. You need to use one of this type of telephone ...
http://educationcs.files.wordpress.c...phone_low1.jpg
http://i305.photobucket.com/albums/n...bana198011.jpg
Jlrx, you are hilarious. I laughed and laughed after reading your post- such creative thinking is a rare find in our society heheheh.
Btw, both you and the Reporter is correct. In 1980, if you are still in your time machine,you are absolutely right that "Urbana" was S$100+ psf. There were not many rich people then in Singapore. An "average" rich person then earned about S$40,000 per month. Now, a "poor" rich man earns about S$100,000 a month. Then, the rich men are the old towkays. Now, the young and skillful doctors, architects, bankers and lawyers have joined the towkay club.
Fast forward to now 30 years later, it is S$1600psf. My friend, this will never go back to even S$800psf ever again unless the story of the movie "2012" materialises. That is why Reporter is also correct that you should not sell your property in this area for now.
The area that has the most upward potential that matches the buying power of the main bulk of the wealthy is RV Area. Why ? Because it is right smack in the middle in short distances between 3 super prime areas- Orchard, CBD and Marina Bay. If you have studied the cities of Tokyo, Hong Kong, Taipei , Shanghai and London, you will understand what the beating heart of circles meant.
That is why I feel, this area may drop but will never see S$800psf again. Just my personal opinion, as always, I could be wrong.:)
Just an after thought for you guys. When will a housing boom becomes a housing bubble ?
In my opinion, a housing bubble occurs when the prices of housing is unsubstainable by the income level of the buyers.
In the USA, the great disparity between the housing valuation given by financial institutions to the income level of the loan applicants is a good example. Say, the maximum affordable home price by a middle incomer is US$100,000. Instead, US$300,000 is given out as loans irregardless of the afford-bility of the applicant. So, if the demand cannot afford the price of the supply, why should the boom be substainable ?
To tell when a housing bubble is coming, just see if the demand can "afford" the price of the supply. This of course could be difficult if you have foreigners in the markets whose income level may be hard to reveal. A possible way is ask our local banks to screen their home IRA submissions and their historical property trading records.
I think in order to seriously avoid a bubble forming, banks may want to only loan up to the 80% limit to very credit-worthy customers. For the rest, they may want to consider 75% or 70%.Quote:
Originally Posted by blackjack21trader, 5 March 2010 8.38 am
Subprime crisis happened because of over-leverage. Imagine in an ideal situation where everyone buy a house using only cash, how can there be a subprime crisis?
Quote:
Originally Posted by blackjack21trader
Thats one of the main reason for the crash in the states. Its common practice to pay a 3% deposit and take a 97% loan. If you have no money because you are jobless even for the 3% deposit? No problem. can take a very high interest loan for it(even if you are jobless)! Its crazy man, so it means that people can buy houses with "little or nothing down." They love this phrase a lot! :doh:
In Singapore, people are still paying deposits of at least 20% or more so the bubble is slower and harder(not impossible) to form. Banks' background checks here are also more stringent(but not foolproof) so the profile of the mortgagees are better.
Then in the ideal situation, banks eat grass? :scared-5:Quote:
Originally Posted by Reporter
In that ideal situation, there will be no bank and civilisation would also not advance at all due to the lack of capital for improvement.Quote:
Originally Posted by bullman, 5 March 2010 9.11 am
We need to strike a balance between over-leverage and lack of liquidity.
The reason why US can and love to do this is buyers can just walk away from a mortgage if they can't afford to pay. So the banks will have to brunt of the loss!!!!!!!! You don't find this happening in Singapore. Buyers in default will be sued into bankruptcy if they can't repay the mortgage even after the house is foreclosed!:tsk-tsk:Quote:
Originally Posted by bullman
Quote:
Originally Posted by moneyspinner
Yes bro. Thats right. Freddie and Fannie buys up all these trash loans from the smaller lenders. Think they call these ninja loans or something. Then repackage it into second rate stocks/bonds or whatever they want to call then repackage again until no one recognize what the hell they are buying. :scared-5:
In the Us, homeowner just pack their stuff and walk out of their houses and disappear when they fall into negative equity. If we do that in SG, think our faces will appear in newspaper the next day.
This is also the reason why its foolish to pour money into US banks at the height of the crisis as they will be the ones who will have to bear the brunt of the the whole fiasco!!!!!!!!!!!!! Imagine some SWF funds even dare to made a statement that they only take 3 days to decide to make such foolish decision!:doh:Quote:
Originally Posted by bullman