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68 (?) units at 18 Tong Watt Road.
All 1 and 2 bedroom units, including the 8 penthouses which have also 2 bedrooms.
Priced around $1,100 psf, following the average price of new developments in the vicinity.
Nearby Kim Yam Heights and Far East Mansion will be redeveloped into big apartments costing high $$ psf, so Robertson Edge is a good buy at this price, I reckon.
Suitable for rental to single expats with lower housing allowance.
hi makelele, robertson edge penthouses are fast selling out!. -jennifer 9xxxxxxx
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Foreigners back in private home market
Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China
Joyce Teo
The Straits Times
Thursday, 5 November 2009
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New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter. -- Photo: Desmond Foo, ST
Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China.
New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter – above the 19.7% average since the start of 2000.
Buyers from China have dislodged those from India for the No. 3 spot in the rankings this year with a contribution of nearly 15% of total foreign purchases. This puts China just behind Indonesia in the second spot and Malaysia at No. 1.
In the past two years, India had been in third spot, but it has slipped to fourth.
Last year, buyers from China had moved up to the No. 4 spot, dislodging buyers from Britain.
Buyers from Myanmar featured more strongly, coming in at No. 8. They did not make it to the top 10 last year, and were 10th in 2007.
In the July to September period, foreign buyers – including permanent residents – lodged 2,448 private home caveats, a key step to buying a home.
This is up from 1,807 caveats in the second quarter and just 498 in the first, according to data compiled by Savills.
In all, permanent residents bought 1,389 homes in the third quarter.
DTZ said its preliminary data for the third quarter showed that foreigners accounted for about 25% of total sales, compared with about 33% during the boom of 2007.
The most popular project sought by foreigners was Sophia Residence, a project launched in July. Then came Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva.
Permanent residents preferred Melville Park, a 99-year leasehold condominium in Simei, the recently launched Trevista, followed by Caribbean at Keppel Bay.
About 54% of the purchases by China buyers were for resale homes, said DTZ head of South-east Asia research Chua Chor Hoon.
Like Malaysian buyers, buyers from China tend to prefer homes priced between $500,000 and $1 million.
One-fifth of them bought homes costing $1.5 million to as much as $5 million.
Indonesians, however, tended to go for higher priced projects, particularly those priced $1.5 million to $5 million.
They like properties located at Novena, River Valley and the Singapore River.
They had been the biggest group of foreign buyers, taking first place from 2004 to 2007, only to lose the spot to Malaysia during the recent economic crisis, said Ms Christine Sun, Savills Singapore’s senior research & consultancy manager.
The latest figures featured a substantial rise in the number of foreign transactions for higher-priced properties.
A total of 86 properties priced above $5 million were sold in the quarter, up from 27 in the second and a mere six in the first.
Also, there was a 60% rise in deals for projects costing between $1.5 million and $5 million. Demand from foreigners for mass market homes was little changed from the second quarter.
Savills said recent data showed that foreigners who are not permanent residents tend to buy more pricey projects.
This group was also more likely to buy homes in prime districts than permanent residents, said Ms Sun. ‘We are hearing that more of these super-rich mainland Chinese buyers have come in recent weeks to buy prime properties like the bungalows in Sentosa Cove.’
But the big influx of foreigners to the luxury market in the 2006-2007 boom has not quite returned, consultants said.
Still, support from regional buyers could rise further. Jones Lang LaSalle’s head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four months.
‘We are one of the places they are considering. They see Singapore as a safe haven,’ said Ms Wong.
A senior private banker at a foreign bank said: ‘We are seeing some clients consider buying a Singapore property as one of a string of homes they have around the world. Luxury homes have come down 30% from the peak, so they are better value now.’
DTZ’s Ms Chua said foreign buyers see the growing attraction of Singapore as a global city and expect prices to keep rising as the economy strengthens.
‘Prices of prime and luxurious units have not reached 2007 levels and there is still the potential of capital appreciation depending on the rate of economic recovery,’ she said.
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These 68 MMs must be among the first few MMs during the good old days of 2006.Quote:
Originally Posted by Makelele, 18 September 2006 3.02 am
Robertson Edge
Address ................................. psf ................. Area ........ Price ............ Contract Date
18 Tong Watt Road #07-04 ... $1,599 psf .o 463 sqft ... $740,000 ...... 30 Oct 09
18 Tong Watt Road #05-01 ... $1,549 psf ..... 398 sqft ... $616,000 ...... 16 Sep 09
18 Tong Watt Road #05-06 ... $1,579 psf ..... 431 sqft ... $680,000 ...... 14 Sep 09
awful feeling and poor build quality.
upon entering a unit for viewing, i wanted to step out immediately
Not surprised why such rather high prices are transacted for this development (notwithstanding, in what appears to be rather poor layout, and low grade build quality).
Reason is fairly simple:-
1. Apartment sizes are small
2. Quantum of apartments (price) will be fairly low even if the psf is rather high
3. Low quantum attracts a lot of investors with limited capital.
It boils down to depth of the market (for large quantum apartments) and liquidity. These buyers buying Robertson Edge at such prices are paying for the liquidity premium. If they do not have the capital required for a larger quantum investment/purchases, they will have to suck it in and take up these higher psf, but lower quantum purchases. Liquidity is not free and it comes at a cost.
Quote:
Originally Posted by Throttle
:doh:Quote:
Originally Posted by DW
it's almost like a hotel, cheap one too.
double yucks.
Congratulations!
Your patience is being rewarded.
Robertson Edge has a nëw hïgh of $1,717 psf!
Robertson Edge
Address ............................ psf ............... Area ......... Price ......... Contract Date
18 Tong Watt Road #09-08 .... $1,717 psf .... 495 sqft .... $850,000 .... 26 Mar 10
Robertson Edge has a nëw hïgh of $1,737 psf!
Robertson Edge
Address ............................ psf ............... Area ......... Price ......... Contract Date
18 Tong Watt Road #07-06 .... $1,737 psf .... 431 sqft .... $748,000 .... 8 Apr 10
Robertson Edge has a nëw hïgh of $1,745 psf!
Robertson Edge
Address ............................ psf ............... Area ......... Price ......... Contract Date
18 Tong Watt Road #09-01 .... $1,745 psf .... 398 sqft .... $695,000 .... 11 May 10
True, many apartments here were indeed initially planned on the papers to be hotels/service apartments. After completion, some developers changed their minds and decided to sell as residential because of the asian financial crisis ( not this recent crisis ) and before the IRs were announced by our big brother. The thing is, this area is grossly a big bargain in my humble opinion.And why ? Because the residents are unknowingly sitting on hotel lands !!!:doh:Quote:
Originally Posted by Throttle
BTW, our richest man in Singapore is a landlord who is richer than a banker!!! And throughout history, who is richer than the landlords but the Kings who are the biggest landlords themselves.What does this tell you ? Think about it, and try to get a little piece of pie for yourself...even if it is a HDB.
True, the latest rich list (2009) has Ng Teng Feng and Family as #1, Wilmar's Kuok at #2, Pontiac Land's Kwee Family at #3. Banker Wee has dropped to god knows which position.... and that's Singapore's richest banker.
Mr Wee's wealth is probably divided up already.Quote:
Originally Posted by orange
This project is in a conservation area...Is that good or bad?
INGENIOUS QUESTION ! I like your question. The real question you should ask is: Is the project itself under conservation? If it is not, then it is renewable into something more contemperory. However, if the project itself is under conservation, it may also give enormous value only if a conversion in use is allowed. This is judging from the transacted prices of converted conserved shop houses along tanjong pagar. Just my humble opinion only, correct me if I am wrong:DQuote:
Originally Posted by dnomyarw
I like your question too :) . I have no idea. Can someone advise please?Quote:
Originally Posted by blackjack21trader
If Vivace which is just beside Robertson Edge is selling above $2000psf with highest hitting $2175, Robertson Edge is still far behind.
JMHO
I thought convervation units can be made into something contemporary i.e. you will be allowed to make adaptive changes to accomodate new uses. Preservation on the other hand, is much more restrictive.Quote:
Originally Posted by blackjack21trader
Examples: Conservation - Chinatown shop houses, Preservation - Raffles Hotel.
Anyway, I think properties located beside conservation or preservation area are generally good because it means that the current surroundings will not change drastically (your view will not be blocked by a newly constructed building). I reckon preservation/conversation properties also command relatively higher value (?).
I didn't know that! Thanks for your info, I learn something new today ! :)Quote:
Originally Posted by silver023
hahhahah such a big quote. Almost like big news. Robertson edge in my opinion's ok. Like any other apartments, but some may like it small so don't have to take so much time to clean. hahahhaQuote:
Originally Posted by Reporter
*the opinion of a humble house husband*
Actually whats the difference between Robertson edge and vivace?
The price psf is so far apart while both of them are just side by side
vivace is trying to market itself as super high end finishing LOL. :D
and the side which faces south supposedly has a "better view" hahaha. :doh:
Quote:
Originally Posted by allenng
They look quite similar from outside. hee not sure about inside
Quote:
Originally Posted by bargain hunter
Vivace sounds like Versace mah :cool: => designer brand.
go check out the "showroom" across the road at the developer's office at robertson quay to see items present in a unit. No actual unit though, maybe too small after putting in everything. :ashamed1:
Quote:
Originally Posted by allenng