The Tennery (D23, 99/103 years LH, Far East Organization)

[repanse71]

Hi

I do not believe there will be problem with condo over-supply.

I expect gahmen to rein in BTO and increase foreign talent intake after the elections.

Developers will offer those withheld units for rentals if demand wanes. I am sure there is no rules restricting developers from doing so.

Gahmen will ensure no price decrease to maintain stable tax revenue. They certainly do not want major developers claiming tax credits from losses.

Regards

From 2006 to 2010, there was a serious lack of HDB yet the immigration numbers climbed up very fast (although it gradually moderated downwards towards 2010 due to political pressure).

This drove up the selling price and rental of HDB tremedously. The fat profit quickly allowed HDB upgraders to move into mass market condos to absorb the supply. Many developers also pushed back their launch by a few years to reduce over-supply e.g. D'Leedon.

I would expect the condo over-supply (especially for rental) issue to be more problematic this time.

[Regulators]

To add, with more GLS on the pipeline, gahmen has to ensure market prices can support their selling prices for the land to developers.

Gahmen will ensure no price decrease to maintain stable tax revenue. They certainly do not want major developers claiming tax credits from losses.

Regards

[kingkong1984]

Land price will not be cheap, cheaper than 250 psf of possible build up area. If want cheap land, it will be land sales in the same district but not near mrt sites. Is it in the interest for govt to crash? No..., cooling is ok, just put a stop to sudden increases. 30% LTV makes alot of difference already. 1 million would mean 100k extra.

[repanse71]

I just visited the show flat. 41 units still available and checks are being collected for unreleased unit. 1 unit even got 4 checks collected, not sure how they decide who to sell to.

I am amazed at the price.

I am even more amazed they call this loft- misrepresentation????
There ceiling is 3.4m high - 2m from floor to base of loft, 10 cm for loft, another 15 cm for false ceiling, only 1.05m left; how pathetic.

Regards

[Wild Falcon]

in most cases, the loft which is like double-volume ceiling will charge you double the space. In this case, FEO is just giving a higher ceiling but I believe the extra space is not counted? So can't really say that it is a misrepresentation.

Honestly, this is just higher ceiling. If you're familiar with FEO projects, I believe most have at least 3.1-3.2 meters ceiling. So they suddenly realise when comparing against some Keppel and City Development projects with 2.7m low ceiling, this is a selling point. So I guess they decide to up the ceiling height to 3.4m and then market it differently.

I like high ceiling and I rank it highly - more highly than those "branded" appliances

I just visited the show flat. 41 units still available and checks are being collected for unreleased unit. 1 unit even got 4 checks collected, not sure how they decide who to sell to.

I am amazed at the price.

I am even more amazed they call this loft- misrepresentation????
There ceiling is 3.4m high - 2m from floor to base of loft, 10 cm for loft, another 15 cm for false ceiling, only 1.05m left; how pathetic.

Regards

[gfoo]

Central's ceilings are 5.8m, airspace not charged. Cost of building a loft after TOP is $20k including structure and flooring.

[kane]

High ceiling makes the unit brighter and more airy.

[kingkong1984]

High ceiling makes the unit brighter and more airy.

The envy of HDB folks. HDB upgraders would like to go for it. It's like a WOW factor.... you walk out from a small house to a taller house.... though smaller.... its extra ordinary for majority of HDB folks....(some HDB have Loft's)

[rattydrama]

travelled on MRT today, pass by Bukit Batok MRT, one kid should be less than 10 year old saw The Jade condo and exclaimed "wow! condo lah, condo lah." At this rate, will u want to buy some more?

another one most interesting thing I observed today is CCR ppty flashing full page in the straits times.

Congrats if you have already pen down your investment ppty yesterday.

[cashrich]

http://forums.condosingapore.com/showthread.php?t=10530

Good project.

[akow]

http://forums.condosingapore.com/showthread.php?t=10530

Good project.

Funny...good project? & yet the location is lousy..as far as traffic congestion is concerned
Further the price is record high for CCK...
Not wise to buy at record high....

Everyday Woodlands Road is heavily used by a lot of Malaysia registered heavy trucks, which emit much exhaust fumes hence terrible air pollution.

No master plan at CCK unlike the Jurong Lakeside District.
Even today latest news, the govt announce remaking master plan for Hougang, East Coast & Jurong Lake, but no mention of CCK.

[cashrich]

Funny...good project? & yet the location is lousy..as far as traffic congestion is concerned
Further the price is record high for CCK...
Not wise to buy at record high....

Everyday Woodlands Road is heavily used by a lot of Malaysia registered heavy trucks, which emit much exhaust fumes hence terrible air pollution.

No master plan at CCK unlike the Jurong Lakeside District.
Even today latest news, the govt announce remaking master plan for Hougang, East Coast & Jurong Lake, but no mention of CCK.

You said in Mi Casa asking people to follow FEO's strategy. Buy low, sell high. Plus sell at record high. If unable to find a buyer, will keep. Isn't this what is being done at Tennery? Setting a record there.

Bad traffic is temporary, By 2015, things would definitely be better.

Read in other forum my hometown that you have stated that you bought a Mi Casa at tower C2 facing Mosque and now EC top floor somemore... hehehe akow is akow.

Mine is on Tower C2, which is still now a piece of empty land between C1 and C3...

I stay at tower C2 too, top floor facing the mosque.
Neighbour hah??

TOP expected at sometime Mar 2012.

[hyenergix]

You said in Mi Casa asking people to follow FEO's strategy. Buy low, sell high. Plus sell at record high. If unable to find a buyer, will keep. Isn't this what is being done at Tennery? Setting a record there.

Bad traffic is temporary, By 2015, things would definitely be better.

Read in other forum my hometown that you have stated that you bought a Mi Casa at tower C2 facing Mosque and now EC top floor somemore... hehehe akow is akow.

Mine is on Tower C2, which is still now a piece of empty land between C1 and C3...

I stay at tower C2 too, top floor facing the mosque.
Neighbour hah??

TOP expected at sometime Mar 2012.

By 2015, the CCK area traffic will be worse because there will be more BTO projects and condos TOP. Traffic to that area will increase as a result, and vehicle population is still allowed to grow at 1.5%.

[akow]

By 2015, the CCK area traffic will be worse because there will be more BTO projects and condos TOP. Traffic to that area will increase as a result, and vehicle population is still allowed to grow at 1.5%.

Woodlands road would continue to be used by all the Malaysia registered heavy trucks each day, hence poor air quality & high noise level...

The land cost is about $430psf, & unit sold at above $1100psf, hence large profit margin. Whoever buy it could expect to hold for many years before breakeven.
Good luck..

[devilplate]

Woodlands road would continue to be used by all the Malaysia registered heavy trucks each day, hence poor air quality & high noise level...

The land cost is about $430psf, & unit sold at above $1100psf, hence large profit margin. Whoever buy it could expect to hold for many years before breakeven.
Good luck..

the project sell quite well....which means developer underpriced leh....haha

[kingkong1984]

the project sell quite well....which means developer underpriced leh....haha

Yes, totally agree. But I do think it's Set as priced to sell. So they can bid for mixed development which is better designable and better linked to mrt. Also, the successful sale will draw future investors to that mixed project. Success leads to success theory. Earlier on I was stating the tannery prices should follow centro in amk. It should and as it is sold cheaper, I would draw inferences that it is as stated above. Stock cleared Liao, got more ammo to stock up again. The commercial is the prized collection. Anyway ammo not a prob at all to FEO, just giving logical reasons there.

[shauntanzs]

Just came back from showroom. Really very efficient layout. Clap clap for far east. Showroom still pack with people n saw option flying around in the hall. Around 40 units left. I really like the high ceiling concept, can ask maid to sleep upstair haha...
I still feel price is alittle steep and is not sure if the 1bedder can really lease out at 2.8k for 4% yield??

I hope there will be more of such development in future..

[kingkong1984]

It should sell out by 2nd quarter 2011.

maybe earlier

[Lovelle]

Yes, totally agree. But I do think it's Set as priced to sell. So they can bid for mixed development which is better designable and better linked to mrt. Also, the successful sale will draw future investors to that mixed project. Success leads to success theory. Earlier on I was stating the tannery prices should follow centro in amk. It should and as it is sold cheaper, I would draw inferences that it is as stated above. Stock cleared Liao, got more ammo to stock up again. The commercial is the prized collection. Anyway ammo not a prob at all to FEO, just giving logical reasons there.

the commercial units are not for sale...

[kingkong1984]

Of course I know that lah. Prized collection for Feo. They growing the dominance there. Noticed that sometime ago. Especially from now on, If FEo win any mixed dev. Retail commercial would be kept as investment by them. Get it? Greenwich commercial also not for sale rite? Mixed plot if won by them there will be the same.

[sh]

Of course I know that lah. Prized collection for Feo. They growing the dominance there. Noticed that sometime ago. Especially from now on, If FEo win any mixed dev. Retail commercial would be kept as investment by them. Get it? Greenwich commercial also not for sale rite? Mixed plot if won by them there will be the same.

I'm glad FEO is keeping the commercial part. I'll be worried if they sold it. shopping malls that are sold piecemeal (like lucky plaza, far east plaza) are heading downhill. There no control on the tenant mix, no one to do promotions, events etc. The value of the residential units above can't be good is the mall below is crappy.

[rattydrama]

I'm glad FEO is keeping the commercial part. I'll be worried if they sold it. shopping malls that are sold piecemeal (like lucky plaza, far east plaza) are heading downhill. There no control on the tenant mix, no one to do promotions, events etc. The value of the residential units above can't be good is the mall below is crappy.

But they are not as good as capital land and centre points property. I have seen for myself those managed by Far East at prime areas still left unoccupied with very low traffic.

[tjoseph]

Oversupply speculation every year but government and media always indicate under supply/...

Just buy if you like

[kingkong1984]

More than 90 percent sold.... Scary...

[Lovelle]

I'm glad FEO is keeping the commercial part. I'll be worried if they sold it. shopping malls that are sold piecemeal (like lucky plaza, far east plaza) are heading downhill. There no control on the tenant mix, no one to do promotions, events etc. The value of the residential units above can't be good is the mall below is crappy.

I tend to disagree , look at FEO The Central at Clark Quay MRT. Even mosquito also don't visit the mall.

[kingkong1984]

Drastic measures.... Existing buyers have to exercise option to avoid kanna new rule. I am at the sideline.. Should this be gd news to us?

[devilplate]

Drastic measures.... Existing buyers have to exercise option to avoid kanna new rule. I am at the sideline.. Should this be gd news to us?

u nvr own any ppty? or jus sold ?

[kingkong1984]

No. sold way to early before ec beside quartz launch. Still ok.

Got 1 to 2 weeks window to backdate if u got buyers now. But both must act blur together hahaha.

The net effect of the policy is price stability. No more cheonging and might even drop. But the support are the ec prices. These measures have no impact on buc 5 yr projects. It's the flipping and sub sale kanna burnt. Resale after 5 yrs also ok.

Less 2 units holders Liao. It would be hdb upgrading to condo or reverse. I think mm die also.

[devilplate]

No. sold way to early before ec beside quartz. Still ok.

Got 1 to 2 weeks window to backdate if u got buyers now. But both must act blur together hahaha.

The net effect of the policy is price stability. No more cheonging and might even drop. But the support are the ec prices. These measures have no impact on buc 5 yr projects. It's the flipping and sub sale kanna burnt.

PLAY STOCKS NOW!!!

HUAT ARGH!!!

[kingkong1984]

Ball game changed, play other thing lah. Quickly sell now!