Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

[hkching]

Casa merah asking price is around 730psf. Is it too high a price to go buy now?

Think it boils down to your affordability as well as your reason for buying. Own stay or investment?

[East Lover]

Casa merah asking price is around 730psf. Is it too high a price to go buy now?

Did you notice that these few weeks, the asking prices suddenly increased a lot?!
Is it bottomed already? shall we go now? otherwise missed the boat again???
Anyone to advise?

[Unreg]

Spoke to a friend of mine who is an property agent. He say there are 2 type of sellers

1) Trying their luck to see if they can sell and make a profit. If the asking price match, they sell. Else they will keep it for thier own stay.

2) Dont want to keep for thier own stay but must breakeven. They want to sell at develpers price + stamp duty etc.

I have check bank valuation for a few units, bank value 20K to 30K below asking price and that worries me.

I would say if you really like the unit, then go ahead at buy though I personally felt that price is high now

[jitkiat]

Spoke to a friend of mine who is an property agent. He say there are 2 type of sellers

1) Trying their luck to see if they can sell and make a profit. If the asking price match, they sell. Else they will keep it for thier own stay.

2) Dont want to keep for thier own stay but must breakeven. They want to sell at develpers price + stamp duty etc.

I have check bank valuation for a few units, bank value 20K to 30K below asking price and that worries me.

I would say if you really like the unit, then go ahead at buy though I personally felt that price is high now

Dow futures just broken resistance at 8,820, it is highly possible that you wake up tomorrow morning with STI breaking 2,400. By end of the year, STI would be 3,000. If you keep delaying the purchase decision in a bull run like this, you may end up missing the boat or committed at a much higher price later.

[East Lover]

Dow futures just broken resistance at 8,820, it is highly possible that you wake up tomorrow morning with STI breaking 2,400. By end of the year, STI would be 3,000. If you keep delaying the purchase decision in a bull run like this, you may end up missing the boat or committed at a much higher price later.

i guess most of ppl (including me) are feeling like this.

on early 2006, the property price started to go up, i hasitated, missed the boat. now the price is bottomed at mid 2006 level, don't think will go futher. i will go if the project suits most of my requirements - life style, convinent to work, worthy for money etc.
there is no perfect project, i have been hunting for so long... as long as within budget, chiong ah.

[jitkiat]

i guess most of ppl (including me) are feeling like this.

on early 2006, the property price started to go up, i hasitated, missed the boat. now the price is bottomed at mid 2006 level, don't think will go futher. i will go if the project suits most of my requirements - life style, convinent to work, worthy for money etc.
there is no perfect project, i have been hunting for so long... as long as within budget, chiong ah.

It is normal to pay a bit of cash over valuation in a bull market, a good HDB near MRT at good location will fetch COV of 30k already. Buying a project close to TOP is typically expensive. Buying resale or direct from developer may be a better option. If you target the East, at least the coming 4th university has some potential for future investment growth or good rental yield as it is going to import logs of foreigners from MIT/China, just make sure your unit is close enough to Expo. The 1st instake of 4th uni is 2011 at a temp location, campus will only be ready at 2013.

[hkching]

Did you notice that these few weeks, the asking prices suddenly increased a lot?!
Is it bottomed already? shall we go now? otherwise missed the boat again???
Anyone to advise?

I think the price bottomed out at Feb. At that time, the asking price was around $630-$650. Too bad I couldn't sell my HDB then. When I finally sold it in Apr, the price went up to $680 to $700. And it has been going up ever since. I think the price increased before the stock market recovered right?

[hkching]

Spoke to a friend of mine who is an property agent. He say there are 2 type of sellers

1) Trying their luck to see if they can sell and make a profit. If the asking price match, they sell. Else they will keep it for thier own stay.

2) Dont want to keep for thier own stay but must breakeven. They want to sell at develpers price + stamp duty etc.

I have check bank valuation for a few units, bank value 20K to 30K below asking price and that worries me.

I would say if you really like the unit, then go ahead at buy though I personally felt that price is high now

When I was buying my unit, the indicative bank valuation was 30K below the asking price. But when I actually applied for the loan with the OTP, they matched the purchase price. I understand the indicative valuation is usually very conservative.

[jitkiat]

I think the price bottomed out at Feb. At that time, the asking price was around $630-$650. Too bad I couldn't sell my HDB then. When I finally sold it in Apr, the price went up to $680 to $700. And it has been going up ever since. I think the price increased before the stock market recovered right?

I bought DBR in April too, by then the developer has canceled the 3% discount and couldn't get the best unit. But same like stock, it is always safer to buy when a bottom is confirmed rather than timing the bottom itself.

[cong0110]

I am looking at casa merah 2-3 bedrooms...any sellers out there? Pls let me know yr asking price. Thanks

[thomastansb]

If you want, I have one unit. Mid floor, Stack 41. 780k nett and firm. Let me know if you are interested. If not, no need to reply.

[Petmail]

Kindly drop by my website: www.projectlaunches.com should you be keen to explore more units available in Casa Mera as well as our new launch project next to Tanah Merah MRT. day by day I will update new development to the launches.

[beemer75]

Casa Merah
level 5 and above, not facing MRT(South) or North-wing facing the pte houses. Small 3 rm preferred.

Not desperate to buy but if you hv a good offer, will seriously consider.

Many Thanks.

[Reporter]

Suburban home prices soar
Some mid-tier projects have topped previous peaks, figures based on URA data show
Fiona Chan
The Straits Times
Friday, 9 October 2009


Citylights, a new condominium which incorporates conservation shophouses in its layout, is almost complete. In the left background are HDB flats along Jellicoe Road. -- Photo: ST

House hunters: If it feels like that suburban condominium you are eyeing is just as expensive now as it was during the 2007-2008 property boom, that is because it probably is.

Although overall private home prices are still some 15% below recent peaks, prices of mass market homes have already climbed back to the levels of early last year, right before the recession hit.

According to the Urban Redevelopment Authority’s (URA’s) latest estimate, released last week, prices of suburban private homes are just 3% shy of their peak levels in the second quarter of last year.

Some individual projects – such as Seletaris in Yio Chu Kang and Casa Merah in Tanah Merah – have already surpassed these levels, going by calculations done by The Straits Times using data from URA’s Realis database.

For mid-tier properties, URA’s data indicated prices remain about 15% off peaks last year.

But some condos in this category are also bucking the trend, with higher prices in the third quarter this year than in the property boom just past.

In the Jalan Besar area, for instance, three condominiums – Citylights, Southbank, and City Square Residences – are now commanding higher average psf than they did at the height of the boom, according to The Straits Times’ calculations.

The calculations compared these condos’ average price psf in the third quarter this year with the second quarter of last year. All the projects had several sales in the most recent quarter, but some had as few as two in the second quarter of last year as sentiment tapered off ahead of the recession.

Similarly, in the East Coast area, projects such as The Esta and The Sea View have already breached their peak average psf prices. This pattern has also cropped up in selected condos from Clementiwoods in Clementi to The Regency @ Tiong Bahru.

While launches of suburban condos have seen a massive surge in demand in recent months, resales of existing homes have so far stayed out of the limelight. But they have also been appreciating in value as sentiment in the real estate market goes from strength to strength, said property consultants.

'For mass-market leasehold projects outside the prime areas, just based on resale prices, we have almost gone back to the 2007-2008 levels,' said Ms Chua Chor Hoon, head of South-east Asia research at DTZ Debenham Tie Leung.

According to her research, the average price of a leasehold non-landed resale home rose to $610 psf in the third quarter of this year, a mere $5 psf less than the most recent peak of $615 psf.

With private home prices still on an uptrend, having jumped a 20-year record of 16% in the third quarter this year, it seems just a matter of time before suburban condo prices hit new highs.

But consultants say this may not necessarily happen, at least not by the end of this year.

For one thing, the Government’s measures to cool the property market, announced last month, could have a dampening effect on home sales and moderate price increases.

This is unlikely to hit actual demand for homes, but the announcement’s psychological impact could cause a knee-jerk reaction and help prevent private home prices from escalating at an unsustainable pace, said Ms Tay Huey Ying, director of research and advisory at property firm Colliers International.

'As it is, the stand-offs between buyers and sellers in the secondary market are showing signs of a return,' she said. Buyers are also starting to complain about the higher prices of mass market homes.

'We have seen a slight slowdown in sales generally in the market, partly because of the prices, and partly because of the Government’s announcements,' she said, adding that prices have yet to suffer.

'I think some people are refusing to pay high prices, but sellers are not lowering their asking prices, so we are seeing the number of inquiries and also transactions come down a bit.'

[Squall8888]

hmmm.... 750psf for 2 bedders or what?

Now 2 bedders all asking 900psf and above. Heard last done was 890psf already.

Thanks alot !!! At least I can verify if the property agent are telling me the truth. Spoke to one last week and he said that owner are now asking for 750psf.

There is no way I am going to pay for 750psf, if I missed the boat, then be it lah. No luck lor!

[propertysale01]

Looking at $4200.00. (Negotiable)

Vacant Unit. Partially Furnished. 1227sqft
Mid floor No afternoon Sun (Directly facing North)
Nice unblocked view.
Interested Please call

Co-broke agents welcome.
Aaron | HP: 90287921.
[email protected]

[jlrx]

hmmm.... 750psf for 2 bedders or what?

Now 2 bedders all asking 900psf and above. Heard last done was 890psf already.

We've heard of the Centro Effect.

Now for the Optima Effect !

The Edge Singapore

October 12 - 18, 2009

Casa Merah apartments breach $800 psf mark

Apartments at Casa Merah changed hands at above $800 psf in the secondary market between Sept 11 and 18. The surge in price was probably because of the successful launch of neighbouring Optima@Tanah Merah in August.

When it was first launched in April 2007, the apartments were sold for between $600 and $770 psf.

The $800 level has been breached four times. The first was on Aug 13, for a sixth-floor apartment with a 958 sq ft area, at $820,000, or $856 psf.

Recently, an apartment on the ninth floor with a 990 sq ft area was sold for $815,000, or $823 psf. The original owner had bought the two-bedroom unit in May 2007 for $669,280, or $676 psf, representing a 22% gain. In addition, an apartment on the 11th floor was sold for $840,000, or $848 psf.

A ninth-floor apartment on another block, measuring 1,249 sq ft, fetched $1 million, or $801 psf. The three-bedroom unit was purchased in May 2007 for $853,000, or $653 psf, representing a 17% gain for the owner.

Next ...

The Silversea Effect !

Another beneficiary of the recent surge in psf price owing to the new launches is Cote d'Azur, located next to Parkway Parade shopping centre along Marine Parade Road.

Next to Cote d'Azur is Silversea, a new condominium project by Far East Organisation launched in July. In August, transaction prices for the 99-year leasehold Silversea ranged between $1,188 and $1,351 psf. During the same period, prices transacted for Cote d'Azur apartments were betweeen $825 and $1,202 psf.

In the most recent transaction on Sept 11, a four-bedroom apartment in Cote d'Azur was sold for $1.87 million, or $1,215 psf. The 1,539 sq ft apartment on the 20th floor was bought for $1.08 million, or $704 psf, in July 2002.

[hovivi]

Heard of Tanamera? It's the old condo very near to Casa mERAH / oPTIMA.. tHEN there is the Bedok Court.. even older.. When optima & casa merah become older, they will be like Tanamera and Bedok Court.. They dun hold their value well.

[Squall8888]

Totally disagree.

When those old condos were built, they were probably sold at 300-400psf. Now 600psf, of course sound cheap to casa merah @ 800psf or Optima @ 950psf.

But when casa merah goes up to 1000psf, it will sound dirt cheap if surrounding properties are selling 1300psf. So at 1000psf is cheap but now, 1000psf for casa merah is crazy.

Same for all properties I guess. You might think Cote A'zure is cheap now @ 1000psf as compared to silversea @ 1500psf but CA was selling at 600-700 psf. Now is cheap at 1000psf but 5 years ago, it is not possible.

That is capital appreciation.

Heard of Tanamera? It's the old condo very near to Casa mERAH / oPTIMA.. tHEN there is the Bedok Court.. even older.. When optima & casa merah become older, they will be like Tanamera and Bedok Court.. They dun hold their value well.

[hovivi]

I see pricing tiers, optima, casa merah, east meadow, tanamerah, stratford court, bedok court (highest to lowest)

buyers just got to hope that capital appreciation is faster than 99 year lease depreciation.. If the rental area for this area is good, the older condo would hold its value better.

Also wonder when optima construction begins, what will those sellers facing optima and asking for sky high price will do.. I will not want to rent for example

Watching with interest...

- - -

Totally disagree.

When those old condos were built, they were probably sold at 300-400psf. Now 600psf, of course sound cheap to casa merah @ 800psf or Optima @ 950psf.

But when casa merah goes up to 1000psf, it will sound dirt cheap if surrounding properties are selling 1300psf. So at 1000psf is cheap but now, 1000psf for casa merah is crazy.

Same for all properties I guess. You might think Cote A'zure is cheap now @ 1000psf as compared to silversea @ 1500psf but CA was selling at 600-700 psf. Now is cheap at 1000psf but 5 years ago, it is not possible.

That is capital appreciation.

[hkching]

I see pricing tiers, optima, casa merah, east meadow, tanamerah, stratford court, bedok court (highest to lowest)

buyers just got to hope that capital appreciation is faster than 99 year lease depreciation.. If the rental area for this area is good, the older condo would hold its value better.

Also wonder when optima construction begins, what will those sellers facing optima and asking for sky high price will do.. I will not want to rent for example

Watching with interest...

- - -

Some foreigner doesn't mind the construction.. It is done mainly during the day when they are not home. Location is the only thing they care... Therefore, there is still a demand..

[hovivi]

Some foreigner doesn't mind the construction.. It is done mainly during the day when they are not home. Location is the only thing they care... Therefore, there is still a demand..

We will see, enjoy your casa merah.

[hkching]

We will see, enjoy your casa merah.

I sure will... Enjoy ur looking from outside...

[hovivi]

I sure will... Enjoy ur looking from outside...

I will try to see and enjoy as much as possible, coz soon it will be blocked by construction site... only bangla workers will have exclusive view

[xebay11]

I see pricing tiers, optima, casa merah, east meadow, tanamerah, stratford court, bedok court (highest to lowest)

buyers just got to hope that capital appreciation is faster than 99 year lease depreciation.. If the rental area for this area is good, the older condo would hold its value better.

Also wonder when optima construction begins, what will those sellers facing optima and asking for sky high price will do.. I will not want to rent for example

Watching with interest...

- - -

You forgot Tana Mera Crest.

[hkching]

I will try to see and enjoy as much as possible, coz soon it will be blocked by construction site... only bangla workers will have exclusive view

Oh yes, thanks to the bangia workers, Casa Merah owners now have the option to cash out if they want and make a 20% profit minimum... After they finish with their work, Optima will also block MRT and station announcement sound for Casa Merah... They should get the exclusive view...

Rental is also not an issue as Casa Merah owners can offer a lower rental than Optima owners and still earn a decent rental yield. For foreigners looking to rent, block or no block is not an issue. Cost and Location are the major factors.

[Daniel Foo]

Oh yes, thanks to the bangia workers, Casa Merah owners now have the option to cash out if they want and make a 20% profit minimum... After they finish with their work, Optima will also block MRT and station announcement sound for Casa Merah... They should get the exclusive view...

Rental is also not an issue as Casa Merah owners can offer a lower rental than Optima owners and still earn a decent rental yield. For foreigners looking to rent, block or no block is not an issue. Cost and Location are the major factors.

Incidently, Casa merah
- 3 bedders is fetching $3600- $3800 at least now,
- 2 bedders $2900-$3200 .

The Optima condo in front will block the MRT noise fully and also the nearby motoring noise in the wee-morning.
Currently the plot of land is vacant thus there is resonance at night although CM is quite a distant away from the MRT and seperated by the main road.
Only those CM blocks directly facing Optima will face an opportunity cost during the piling phase & bear with the dust but those CM units inside are in a world of their own.

[shespawn]

Incidently, Casa merah
- 3 bedders is fetching $3600- $3800 at least now,
- 2 bedders $2900-$3200 .

The Optima condo in front will block the MRT noise fully and also the nearby motoring noise in the wee-morning.
Currently the plot of land is vacant thus there is resonance at night although CM is quite a distant away from the MRT and seperated by the main road.
Only those CM blocks directly facing Optima will face an opportunity cost during the piling phase & bear with the dust but those CM units inside are in a world of their own.

CM is far better than Optima, Optima is there to help block the noise from the mrt and car traffic. at least those facing Optima is not west sun facing also, so i guess it's a compromise in some factors.

[xebay11]

CM is far better than Optima, Optima is there to help block the noise from the mrt and car traffic. at least those facing Optima is not west sun facing also, so i guess it's a compromise in some factors.

Agree, also Optima is on a very small plot of land compared to CM.

[james8899]

Just pass by CM , i realised most of the toilets are still not covered wondered what most residents will do , i heard there is a film where internal can see outside but outside layer is shiny not sure if the condo management will allow. i discover for roller is bad.. not pretty..

any comments

but overeall very quiet ; good