D15 Apt Status vs Condo Status
Hi all, am in the market for a 3 bedder for own stay.
Hv been going around and doing a lot of research, and i do need some advice. Here's my take:- Esta & One Amber although have hundreds of units, their land area and facilities are big. Pricing is close reaching launch price. Will there be further downside in 3 months? (NB the Sail is already reaching 1000psf)
- Private apartment status like Beacon Edge, Tierra etc are so cramped, it's really not a joke. They are averaging $550-800psf, but have ridiculous site layouts, and pathetic slivers of 'swimming' pools. These are more affordable quantum wise but are the worth it? e.g. Was close to confirming Beacon Edge from a beautiful site plan, but when i went into the construction site, my god, it was so cramped you can spit across the pool to the neighbour's PES. They're asking for $780psf - what a joke. Those that bought it at the launch price of $1200-1300psf are burning right now - idiots.
- So far the best layout/density is Ola residences which touts itself 'condo status' - riiiight. But the asking is $1080, which is like $50 bucks away from October 08 transaction. Ridiculous.
- Historically apartments have always been priced lower than condos due to lack of facilities. Why issit that today's (buy-2-old-terrace-build-one-apt) apartments fetch almost 20% above competing condos in the area?
I'm getting v tired viewing properties and researching, especially when developers are still not grounded to reality, esp those projects launched 2007. Here's my prediction for end 1Q2009, and what i think is fair pricing:
One Amber/Esta: $700psf
Ola Residences: $680psf
The Beacon Edge: $600psf
The Sail: $880psf
What you guys think? comments welcome, need advice whether to buy now, wait 6 months, or wait till 2010.
PS: Another thought - almost all the apartment status launches and developments are marketed by the Huttons/Savills cartel - could this be the reason that prices are still being 'set' beyond market reality? thanks in advance
(I know there are tons of Huttons/Savills agents in this forum so i'm not flaming you guys, rather i am trying to get clarity for my next purchase)