Lakeshore (D22, 99-year Leasehold, by Far East Organization)

Hi has anybody collected their keys yet?

Went to the showroom. Very nice BUT Damn expensive. 3 room condo costs around 700k++!!! Also not very big, only 1100++ sq feet. Cost like freehold!. Also got around total 848 units!!! So high density for such a small land.

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Originally Posted by jack sprat

Went to the showroom. Very nice BUT Damn expensive. 3 room condo costs around 700k++!!! Also not very big, only 1100++ sq feet. Cost like freehold!. Also got around total 848 units!!! So high density for such a small land.

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I agree LS is way overpriced at $500psf. FEO's reputation for shoddy workmanship is a big minus. I actually viewed both LS and Lakeholmz but bought neither. But Lakeholmz would be a better buy at about $450psf. Workmanship of Centerpoint is much better.

Lakeshore under construction pics:

http://img157.imageshack.us/img157/8...eshore1hs9.jpg

http://img171.imageshack.us/img171/5...eshore2ik6.jpg

http://img125.imageshack.us/img125/1...eshore3tq1.jpg

http://img171.imageshack.us/img171/4...eshore7ag5.jpg

http://img157.imageshack.us/img157/7...eshore8sr1.jpg

http://img157.imageshack.us/img157/3...eshore9sn9.jpg

http://img171.imageshack.us/img171/3...shore10zh0.jpg

http://img125.imageshack.us/img125/6...shore11zl1.jpg

IF YOU ARE NOT A LAKESHORE OWNER CAN YOU PLEASE NOT MAKE NASTY COMMENTS. WE BOUGHT IT AND WE ARE LOOKING FORWARD TO OUR HOME. THANKS

Welcome to http://groups.msn.com/lakeshore

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Originally Posted by lakeshore owner

IF YOU ARE NOT A LAKESHORE OWNER CAN YOU PLEASE NOT MAKE NASTY COMMENTS. WE BOUGHT IT AND WE ARE LOOKING FORWARD TO OUR HOME. THANKS

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hahahahahhahahahahahahaha

If you want to know if someone is a moron, just ask where they live.

Same goes for people who bought City Square Residences!

HAHHAHAHAHAHAHAHAHAHAHHAA

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Originally Posted by jack sprat

Went to the showroom. Very nice BUT Damn expensive. 3 room condo costs around 700k++!!! Also not very big, only 1100++ sq feet. Cost like freehold!. Also got around total 848 units!!! So high density for such a small land.

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Are you sure? For that kind of price, you can get the same size in better locations, near city.

Is that a multi storey carpark in the picture? If yes, than it makes no difference staying in a HDB. Also, it looks more like some Ponggol HDB leh :) Juz my 2 cents.

I visited the showroom in Nov 06. Very nice concept (lots of water) and the views would be good because of Chinese gardens and the lake. But I think the price at about 550 psf is a bit too high. If priced at 500 psf would be fair.

Lakeshore is near a good Primary Sch. Rulang, a plus point for buyers with preschool children.

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Originally Posted by Madeira

I visited the showroom in Nov 06. Very nice concept (lots of water) and the views would be good because of Chinese gardens and the lake. But I think the price at about 550 psf is a bit too high. If priced at 500 psf would be fair.

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$550 is a bargain. Now is $700 psf liao.

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Originally Posted by Unregistered

$550 is a bargain. Now is $700 psf liao.

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Yeap. Agent said the price has jumped twice in the past month. And they are still holding on one lake-view blcok for sale, waithing for a best time to sell, for higher price, of course.

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Originally Posted by Unregistered

Yeap. Agent said the price has jumped twice in the past month. And they are still holding on one lake-view blcok for sale, waithing for a best time to sell, for higher price, of course.

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You must be kidding
A far east project in Jurong and you dare to buy to flip?
I received so many fancy mails and flyers from Far East lately to introduce their projects in Sinagpore, Lakeshore was not evn mentioned in these mails
I could be wrong, may be they are sending the flyers on promoting Lakeshore only to HDB.

I didnt buy a unit there, just went down to take a look 3 weeks ago. I must admit that the water faetures and the interior design there is indeed quite nice, especially the garden at the 7th storey. But now psf is $700, its a bit too pricy to buy now

Dear all,

I'm considering to sell my 2+1 unit in Tower 3E (pool facing) due to a change of plan. I bought the unit in Jan 2007 and TOP is expected to be end of 2007. As of now, developer's selling price for a 2+1 unit (without pool view) for 12-floor onwards is $590k. I'm looking at letting go my unit around $583k. Anyone interested can email to [email protected]. Cheers.

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Originally Posted by whaleywillie

Dear all,

I'm considering to sell my 2+1 unit in Tower 3E (pool facing) due to a change of plan. I bought the unit in Jan 2007 and TOP is expected to be end of 2007. As of now, developer's selling price for a 2+1 unit (without pool view) for 12-floor onwards is $590k. I'm looking at letting go my unit around $583k. Anyone interested can email to [email protected]. Cheers.

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What is the size of your unit and facing which direction and locale?
If you don't mind, how much did you pay for your unit?

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Originally Posted by whaleywillie

Dear all,

I'm considering to sell my 2+1 unit in Tower 3E (pool facing) due to a change of plan. I bought the unit in Jan 2007 and TOP is expected to be end of 2007. As of now, developer's selling price for a 2+1 unit (without pool view) for 12-floor onwards is $590k. I'm looking at letting go my unit around $583k. Anyone interested can email to [email protected]. Cheers.

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Which floor is your unit on?

Just went for a look look c c,

The unit to unit are very close to each other, tower 2E can see ur next door clearly as is just < 4 meter away

Likewise most towers can clearly watch it opp tower residents walking area their living room/bed room (as this rooms facing each other)

I think their have over price it, some 999 lower than this price

Just saw FEO on TV promoting there property, on lakeshore.
Why FEO need external source, Lain Beng, to help out?
FEO alone was not strong enough?
FEO was no confident to on show alone?

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Originally Posted by Unregistered

Just saw FEO on TV promoting there property, on lakeshore.
Why FEO need external source, Lain Beng, to help out?
FEO alone was not strong enough?
FEO was no confident to on show alone?

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Lian Beng, being the main contractor, may be asked to fork out some money for the advertisement... cost sharing...

Received a sms from some agents that there is a release of subsales units selling at 100k below the developer's price.

Anyone here can verify?

Aiyo everyday in the newpaper also have. However not many units with good facing left.

no offence to lakeshore owners...was there last week to recce...u want my honest opinion of this place - here goes..

1. units facing the lake will have massive traffic/MRT noise along Boon Lay Way and the junction. At night can only on aircon to sleep..but no issues..since many of you are rich to on aircon whole day even. is really ironical, serenity of the lake spoilt by the road/tracks..a big WASTE!!

2. units facing each other - too close liao..i did not realise nowadays developers try to make huge profits by building so many units so close to each other. better get all your blinds ready...for those claustrophobic ones, make sure medication is on hand.

3. Multi-storey carpark is a joke..feel like parking in a HDB MSC..not class enough. some units can see carpark also from house..what a let down. why cant they build it below the development..out of sight.

4. Was quoted $800K + for a small 2 bedroom unit...i wondered aloud who in the right mind will pay such a price for such a crappy unit?.

5. pool looks good but too small for so many units, maybe less crowded at public swimming pools..

6. Potential is capped as govt recently released the new plot of land just next to Lakeside MRT..nearer than lakeholmz and dont need to cross the road like Lakeshore. in my opinion, i dont quite get the rationale? the place there is too crowded liao...lakepoint, lakeshore, new devt, lakeholmz...parc vista..wah lao..i suggest they call the new devt...LAKESQUEEZE.. Chinese Garden Area however still got good upside...Parc Oasis and The Mayfair...less crowded..

again above is just my humble opinion... thanks.

Saw in papers a 3 bedroom at Parc Oasis priced at 750 K, is it not too high
for this old condo?

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Originally Posted by Unregistered

Saw in papers a 3 bedroom at Parc Oasis priced at 750 K, is it not too high
for this old condo?

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Nowadays sellers are asking very high price, hoping that some not-so-knowledgable buyers will pay the high price.

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Originally Posted by boonlaysg

no offence to lakeshore owners...was there last week to recce...u want my honest opinion of this place - here goes..

1. units facing the lake will have massive traffic/MRT noise along Boon Lay Way and the junction. At night can only on aircon to sleep..but no issues..since many of you are rich to on aircon whole day even. is really ironical, serenity of the lake spoilt by the road/tracks..a big WASTE!!

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The MRT track runs along the opposite side of the main road, not on the side where Lakeshore is located. I don’t deny there will be noise, but it is less pronounced compared to if it’s built on the opposite side of the road. Your description of “massive” noise is simply exaggerated.

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Originally Posted by boonlaysg

2. units facing each other - too close liao..i did not realise nowadays developers try to make huge profits by building so many units so close to each other. better get all your blinds ready...for those claustrophobic ones, make sure medication is on hand.

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I don’t deny that some, but not all units are close to each other, especially those units from tower 2 and 3 that converge towards each other. Let’s be fair, it’s not that many, and units that are not pool-facing won’t see each other.

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Originally Posted by boonlaysg

3. Multi-storey carpark is a joke..feel like parking in a HDB MSC..not class enough. some units can see carpark also from house..what a let down. why cant they build it below the development..out of sight.

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I don’t feel MSCP is not class enough. More importantly is whether the lots are very small and too close together, or positioned at odd angles/ corners. It’s cooler and brighter inside a MSCP than an underground basement car park. The roof gardens on top the MSCP enhance the overall landscape of the development. I really don’t see MSCP as a negative feature if it’s tastefully done.

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Originally Posted by boonlaysg

4. Was quoted $800K + for a small 2 bedroom unit...i wondered aloud who in the right mind will pay such a price for such a crappy unit?.

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Can you provide more info on the unit that was quoted to you? Which tower, what unit layout, which floor, pool or non-pool facing, before or after discount, etc? Otherwise, it’s just too vague a crappy statement to comment on.

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Originally Posted by boonlaysg

5. pool looks good but too small for so many units, maybe less crowded at public swimming pools..

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This pool is among the largest I’ve ever seen so far in a private development. However, whether there will be perpetual overcrowding at the pool can only be verified 2 years after TOP.

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Originally Posted by boonlaysg

6. Potential is capped as govt recently released the new plot of land just next to Lakeside MRT..nearer than lakeholmz and dont need to cross the road like Lakeshore. in my opinion, i dont quite get the rationale? the place there is too crowded liao...lakepoint, lakeshore, new devt, lakeholmz...parc vista..wah lao..i suggest they call the new devt...LAKESQUEEZE.. Chinese Garden Area however still got good upside...Parc Oasis and The Mayfair...less crowded..

again above is just my humble opinion... thanks.

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New plot of land won’t tender until October. By then property market would have increased further, and the developer who wins the tender will have to bid very high. Construction and material costs have all gone up, so the new development is expected to be priced much higher, if not competitive to Lakeshore. Even though the new development is nearer to MRT than Lakeholmz, it’s still twice the distance compared to Lakeshore, and there isn’t any shelter along the way too. The new development will realize its potential fully if it can differentiate itself with a unique theme.

The lakeside area crowded and potential capped? No, still early days now. You’ll see more developments in Jurong West over the next decade or so as population and businesses expand within the West region. Parc Oasis and Mayfair location is nearer to JE. Can buy if you don’t mind Parc Oasis is already 13 years old and Mayfair is 7 years old.

Your opinions are perceivably negative and I hope to offer some balance... please don't feel that I'm undermining your ability to judge, you are certainly entitled to your views. Thanks.

Anybody know Lakeshore prelauch price?

http://www.channelnewsasia.com/images/CNAlogo.gif
Government announces plans for Jurong Lake District
Wong SiewYing
Channel NewsAsia
Friday, 4 April 2008, 1129 hrs

http://www.channelnewsasia.com/image.../phpsvZIG5.jpg ..... http://www.channelnewsasia.com/image.../phpiauQQK.jpg
Artist's impression of Lakeside Village, Jurong Lake District

http://www.channelnewsasia.com/image.../php1X5QTK.jpg
Night view of Jurong Gateway from Japanese Garden

Jurong is set to be home to the largest commercial hub outside the city centre.

The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

National Development Minister Mah Bow Tan announced this when he unveiled part of the government's ‘Draft Master Plan Review 2008’. The blueprint will guide Singapore's land use over the next 10 to 15 years.

The Urban Redevelopment Authority (URA) said that some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

Jurong Gateway will be nearly 2.5 times the size of the Tampines Regional Centre and is expected to attract billions of dollars in investment.

Speaking at the annual corporate plan seminar, National Development Minister Mah Bow Tan said decentralisation will be a key planning strategy. This will help bring jobs and recreational options closer to home.

Under the proposed plan, 1,000 new private apartments will also be built at Jurong Gateway.

Mr Mah said: "That is the initial estimate, but some of the sites around there are white sites. If there is more demand, we will certainly be able to reallocate.

"But all this ultimately will have to depend on the market as well - how the market responds and whether the emphasis of more housing or more office. I think we will have to be guided by the market."

Some 2,800 hotel rooms will also be added in the new district in anticipation of more visitors.

And what will get them coming is a slew of nature-themed and edu-tainment attractions, which will spring up at Lakeside. A new world-class Science Centre will also be built next to the Chinese Garden MRT station.

Visitors can also look forward to lush greenery and water-based activities.

Urban planners said there is a lot going for Jurong as investors will be able to tap into a population catchment of over one million residents living in nearby housing estates, as well as leverage on some 3,000 companies already operating in the area.

In addition, the new district will be served by three MRT stations and two major expressways.

Apart from Jurong, Paya Lebar is also expected to be developed into a sub-regional centre. The URA will release more details in May.

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Originally Posted by Unregistered

Interesting analysis from Singapore expat forum. What do you guys say? Any views?



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Originally Posted by Unregistered
Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

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I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

He's a Hong Kong based Asia property analyst for a small successful private investment bank.
He sent me this....(don't shoot me, I'm just the messenger.)

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Well...I would wait at least another 6 months to a year.

We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

Rationale was simple and not rocket science.

#1. There was no demand for housing when the boom started.
The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

#2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

#3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

#4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

#4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

#5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

#6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

#7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
600+ units launched
20+ remaining at $2,000 per square foot via the developer.
100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
The reason...no rental income.
That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

The short lived property boom was very much like a pyramid scheme.
It was all hype and no substance.
The first guys in are now smoking big cigars.
The last guys in are now left holding the ashtray.

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Excellent post and thanks for this , I am cancelling my plans to buy property this year!!!!!!!

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I HAVE CANCELLED MY PLANS TOO. CAN WAIT FOR A BIG DROP.