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Thread: Lakeholmz (D22, 99 Years, Frasers Centrepoint)

  1. #1
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    Default Lakeholmz (D22, 99 Years, Frasers Centrepoint)

    Any Lakeholmz owners here in this forum?

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    After overseas trip, I going to view some, let you know if I decide to buy.

    I heard from agent the units are bigger than LF Residences'.

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    Quote Originally Posted by sfwoo
    After overseas trip, I going to view some, let you know if I decide to buy.
    Quote Originally Posted by sfwoo

    I heard from agent the units are bigger than LF Residences'.


    Yes, it's bigger in floor areas but witlk planter windows.
    In generall, 3 bedders is 1238 (level 9 up) and 1249 (level 2to level 8). All units are basically squarish in interior.

    If possible, go after unit at Blk 80, 82, 84 or 90. 86 & 88 unless you are ok with MRT track noise. If you are going after 2 bedders, then inevitable you will have Blk 86 only.

    Unlike most projects with units settling back to back thus enabling the projects to looks very impressive externally; Lakeholme is design in such a way that ALL units will get pool view and the lift lobby facing externally (which inevitably looks unimpressive externally). During our first viewing and right before we turn in Lakeholmz, my wife remarked "yeeeee... lakeholmz looks like HDB.....", However, after she strolled through the pool side and also walking along the oaveway facing lakepoint condo, she decided Lakeholmz would be the one. We have no regret buying Lakeholmz.

    One more thing, most units here are own-stay and there are not much of tennants around. Also, I have sopken to quite a few of my neighbor, most of them have intention to sell their units here particularly to those three bedders' owners. Dun't believe, browse thru Propertyguru will only yield 8 units of 3 bedders for sales out of 369 units in the project

    Good luck with your viewing and will be looking forward to meet you here in lakeholmz

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    Some pictures of Lakeholmz for reference

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    Thanks for info and pics.

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    thers is a typo for my earlier post,

    Quote Originally Posted by westman
    most of them have intention to sell their units here particularly to those three bedders' owners.
    It should be:

    Quote Originally Posted by westman
    most of them dun't have intention to sell their units here particularly to those three bedders' owners.

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    I looking for bigger than 3 bedders...

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    Quote Originally Posted by sfwoo
    I looking for bigger than 3 bedders...
    Then that good as currently on sales are mostly 4 bedders.
    If I'm correct, mostly with units from Stack 88 and 90.

    Per my understanding and conversation withh folks here, stack 80 to 84, owners more reluctant to sell and it's hard to come by. If you can find one and you really feel good about it, quickly grab..

    Strongly recommend you not to take stack 88 (MRT noise) and 90 (Morning sun).

    Go for Stack 82 or 84 only. These two block do not have sunlight problem nor MRT track noise (blocked by stack 88 & 90).

    Hope above information helps. Good luck bro.

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    Thank you very much!

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    Quote Originally Posted by sfwoo
    Thank you very much!
    Hi sfwoo, FYI since you are looking at Lakehomz.

    After a brief chatting with a neighbour of mine, I was informed that an unit in Stack 84 is about to close deal by this week end (chance of success ~95%) at around 760psf for a 3 bedders units (size between 1238~1249sqf). If that deal is done, it would set a new record for Lakehomz 3 bedders. However, that price still cannot beat the highest 784psf (I think 2 bedders during mid 2010)..

    Be prepare to shell out more $$$ if that happened....

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    Quote Originally Posted by westman
    Be prepare to shell out more $$$ if that happened....
    Other then Jurong, I watching Hillview, too.

    I saw a record set in October in one development, then one kan cheong spider sell 9% below the record...and still got people trying to sell, but few takers.

    Sometimes record PSF cannot replicate, cos another unit maybe poor facing, afternoon sun, run down...

    I still in "watching mode" for now...travelling soon...come back mid-Dec...

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    Quote Originally Posted by sfwoo
    Other then Jurong, I watching Hillview, too.

    I saw a record set in October in one development, then one kan cheong spider sell 9% below the record...and still got people trying to sell, but few takers.

    Sometimes record PSF cannot replicate, cos another unit maybe poor facing, afternoon sun, run down...

    I still in "watching mode" for now...travelling soon...come back mid-Dec...
    Hold your bullets as there will be two sites for GLS just beside Glendale Park near Hillview MRT from today news....

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    Quote Originally Posted by sfwoo
    Other then Jurong, I watching Hillview, too.

    I saw a record set in October in one development, then one kan cheong spider sell 9% below the record...and still got people trying to sell, but few takers.

    Sometimes record PSF cannot replicate, cos another unit maybe poor facing, afternoon sun, run down...

    I still in "watching mode" for now...travelling soon...come back mid-Dec...
    we were looking at hillview too was contemplating petals good thing hillview area is 999 but traffice condition there is horrible and have ERP.... intially can get hillview at $700 - $800 psf, with lanai launch, everyone now asking $800 - $900 plus psf... even heard of someone asking 1000 psf at glendale park!!

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    Lakeholmz, has a new high in caveat for 3 bedders (1238sqf) at $727 psf
    , thanks alot to LF launch....

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    Quote Originally Posted by extremme
    we were looking at hillview too was contemplating petals good thing hillview area is 999 but traffice condition there is horrible and have ERP.... intially can get hillview at $700 - $800 psf, with lanai launch, everyone now asking $800 - $900 plus psf... even heard of someone asking 1000 psf at glendale park!!
    Hillview region is one of our top list before our purchase of Lakeholmz. However, we drop the idea as we felt rental income for Condos at hillview area are very low (@$2.1+/- psf) and also with consideration of traffic condition due to MRT consrtuction...

    Nonetheless, I think Hillview has potential to growth as there are two GLS on sales soon... cheers for those who has vested interest in Hillview region...

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    Quote Originally Posted by extremme
    we were looking at hillview too was contemplating petals good thing hillview area is 999 but traffice condition there is horrible and have ERP.... intially can get hillview at $700 - $800 psf, with lanai launch, everyone now asking $800 - $900 plus psf... even heard of someone asking 1000 psf at glendale park!!
    There's commercial there. I think those FH condo are really old and would lose out to new LH99 condo for the first 10 years.

    This area got lots of more land to be released if required.

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    Quote Originally Posted by kingkong1984
    There's commercial there. I think those FH condo are really old and would lose out to new LH99 condo for the first 10 years.

    This area got lots of more land to be released if required.
    The commercial site in GLS is really interesting and I think Glendales, Hillview height etc owners would be very glad to know about the recent news...

    Me abit regret not to take up a nice PH unit in Hillview Height with around 620psf then...

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    Quote Originally Posted by westman
    The commercial site in GLS is really interesting and I think Glendales, Hillview height etc owners would be very glad to know about the recent news...

    Me abit regret not to take up a nice PH unit in Hillview Height with around 620psf then...
    You have missed the boat liao.. MRT coming and that kind of prices are long gone.

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    Quote Originally Posted by kingkong1984
    You have missed the boat liao.. MRT coming and that kind of prices are long gone.
    Yeah lol, me more favor Hillview but OC prefer Lakeholmz, and history lesson taught me not to argue with OC

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    Quote Originally Posted by westman
    Yeah lol, me more favor Hillview but OC prefer Lakeholmz, and history lesson taught me not to argue with OC
    Yes oc yes oc. Lakeholmz pretty good.

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    Default Lakeholmz on News Report

    Restoring sanity to property prices
    by Ku Swee Yong
    Today Newspaper
    05:55 AM Jan 21, 2011


    When the latest property measures were unveiled on Jan 13, it took most market watchers by surprise, mainly because we had been reassured several times that the previous rounds of measures announced on Aug 10 had been effective.

    Reaction from the local market has been negative but not too severe, as shown in a survey by property blog propwise.sg (see Page B13).
    Were these new measures necessary? Definitely.

    At the macro level, Singapore's real estate is far from being overleveraged. According to data from the Monetary Authority of Singapore (MAS), as at the end of October last year, total housing loans amounted to $109 billion and the total number of completed private housing units stood at 256,513 units.

    This included private residences, from good-class bungalows down to shoebox apartments. Assuming an average value of each unit at $1.1 million, the total value of completed private homes is $282 billion; that is, the loan-to-value ratio is a relatively low 39 per cent islandwide.
    However, at the micro-level, pockets of risks exist. Table 1 shows a sampling of the record high prices achieved last year.

    The Vision was launched in the first quarter of last year and its "higher-than-the-neighbourhood's" transacted psf prices helped to lift the general valuations in the West Coast. The highest price achieved of the 199 units that were transacted in Q2 last year was $1,266 per sq ft (psf). The average price for The Vision in Q2 2010 was $1,019 psf versus the neighbouring developments Blue Horizon (sharing a common boundary wall with The Vision) at $856 psf and Westcove Condo across the road at $689 psf. The highest price achieved in The Vision is almost double the average price achieved in Westcove Condo that quarter.

    The same story unfolded itself across the outskirts throughout 2010: Serangoon, Pasir Panjang, Bukit Panjang, Pasir Ris, Yio Chu Kang, Ang Mo Kio, Yishun and more.

    A most recent example is The Lakefront Residences in Jurong West launched in Q4 2010. Of the 167 units transacted, based on the latest Realis data, the highest price achieved was $1,362 psf and the average was $1,074 psf. Just 100m away, the older condominium Lakeholmz, at $681 psf on average, is half of the peak price at The Lakefront Residences (without considering the sizes of apartments, just comparing psf values for the street block). Even if we topped up the 10-year expired lease tenure for Lakeholmz to 99 years and added a generous construction cost of $250 psf, it would be difficult to place a value for a new apartment in that street at above $1,000 psf.

    So it would seem Singaporeans value "newness" with a very high premium? Wrong. When we compare the prices of the still-under-construction Caspian (which shares a boundary wall with The Lakefront Residences), at an average of $793 psf in Q4 2010, we see that the newness value is not sufficient to explain the prices achieved at The Lakefront Residences.
    Within two to four years, both projects will be delivered to buyers brand new. So why did The Lakefront Residences achieve an average price that is 35-per-cent higher than Caspian's? I am obliged to add two other factors to justify the premium: The "showflat wow" factor and the "showflat peer pressure" factor.

    Pushing up the PPI
    With premium prices achieved during property launches at 20- to 50-per-cent higher than neighbouring average psf prices and multiplied by the number of transacted units, it is no wonder that the Private Property Index (PPI) kept rising though 2010.
    The PPI rose in Q4 2010 despite August's cooling
    measures. It's a good thing the URA's overall PPI is weighted so that transactions in a few launch projects do not overly distort the PPI. Otherwise, the rise of the Q4 2010 PPI would not have been a mere 2.7 per cent. And that led us to the latest round of measures.

    Apart from the overall islandwide PPI published by URA, investors can refer to URA's website for transactions in specific projects and compare prices so as to make better decisions. However, of late, most investors do not seem to be doing their homework and have purchased in large numbers at record high prices in the suburbs across Singapore.

    Who might be the next target?
    Investors make up one of several constituents in a property transaction. The past few rounds of measures have already hit investors hard enough. In the next set of measures, if any, the other parties who may be targeted are the developers, the sales agents, the mortgage lenders and valuers.

    Many investors and analysts have pointed their fingers at foreign investors and their "hot money" causing Singapore's real estate to overheat.
    Yet the new launches that set record-high prices in the suburbs do not attract foreigners as much as they attract Singaporeans. Table 2 shows why we should not blame hot foreign money for bringing on the latest round of measures.

    On average, about 25 per cent of residential units are purchased by foreigners. These projects listed in the table are clearly well below the national average. Perhaps Singaporeans are the ones pouring hot money into property.

    I would rule out targeting developers unless there are issues of misrepresentation. Otherwise, developers do what they do - acquire land, build showflats, and sell homes.

    The sales agents have come under the new Council of Estate Agents and are already facing tighter operating parameters. Again, unless there is bad practice or misrepresentation, I do not think they will be the next target.
    As for the mortgage lenders, when I made enquiries about loans for investors buying at these record high prices, the answer invariably was: "Oh, valuers matched developer's selling prices." Of course, as long as there are valuers who can sign off on a certain value for a property, banks are eager to lend.

    How might valuers agree to value a new launch that is priced at 20- to 50-per-cent higher than other transactions in the neighbourhood? One counterargument regularly given to me is: As long as there are transactions in this new launch at this price, the valuers can support valuations at the new highs.

    In the example of Caspian above, buyers today would find it difficult to obtain a loan based on $1,000psf valuation. Sellers are also unable to ask for prices above $1,000 psf when prospective buyers are unable to secure loans at that value. However, the same buyer can purchase a smaller unit at the same investment quantum at Lakefront Residences at $1,150 psf with a bank loan attached. I wonder why the discrepancy given that the two properties are side-by-side and both are not completed.
    By not taking reference from other similar transactions in the neighbourhood, this means that valuations are justified solely on transacted prices within the new launch itself. Without taking into account the lower values of neighbouring condominiums and the intrinsic land value in the vicinity, this valuation method is a self-fulfilling upward spiral.

    Having excluded the foreigners, the developers and the sales agents, we are left with two targets for the next set of cooling measures, if any.
    Perhaps one approach would be to require valuers to disclose their assumptions and methods to the MAS and valuations for new launches to take into account values of other properties in the neighbourhood. Banks may be instructed to lend for new launches based on this more comprehensive and inclusive method of valuation.

    Furthermore, seeing the strong response to the attractive investment package at Spottiswoode18 this week, I believe tougher measures to restore sanity to the market may not be far away.

    Ku Swee Yong is the founder of real estate agency International Property Advisor (IPA), which provides services to high-net-worth individuals.

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    Is Lakeholmz (and PV) undervalue as compare to Caspian or Lakefront?
    Comments?

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    Quote Originally Posted by westman
    Is Lakeholmz (and PV) undervalue as compare to Caspian or Lakefront?
    Comments?
    this is reality. why ppl want to buy new car than old car. why ppl like younger mei mei than older woman

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    Quote Originally Posted by ay123
    this is reality. why ppl want to buy new car than old car. why ppl like younger mei mei than older woman
    not just buyers....tenants too....they rather pay more for a newer project with a smaller space

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    Car is different lah. The old cars need to renew COE and gives all sorts of engine and software problem. If u buy FH property, then there is no lease to renew at all and the 4 walls can last a long time. In fact, nowadays the "all-glass" condos with thin walls will pose a lot of problems with water leakages and glass panel falling off.

    Quote Originally Posted by ay123
    this is reality. why ppl want to buy new car than old car. why ppl like younger mei mei than older woman

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    Quote Originally Posted by Wild Falcon
    Car is different lah. The old cars need to renew COE and gives all sorts of engine and software problem. If u buy FH property, then there is no lease to renew at all and the 4 walls can last a long time. In fact, nowadays the "all-glass" condos with thin walls will pose a lot of problems with water leakages and glass panel falling off.
    oi...house can leak hor....i hate leaks....erkkss...very sian one....smtimes is upstairs problem...nid to knock their door somemore if they dun respond to the letters sent out by MCST

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    This guy analysis is flawed. Why doesn't he compare with newer projects like Lakeshore? These are 99Lh condos for goodness sake - the lease term has run down - how old is Lakeholmz? Cannot compare like that. I think he is just super biased against suburban projects. I despise this type of analysis that only compare against prior values without looking at future upside potential. So is Gylnderbourne at 2300psf a good buy? Honestly, I have a feeling this Glynderbourne at 2300psf will be a worse buy than Lakefront at 1000psf.

    Quote Originally Posted by westman
    Is Lakeholmz (and PV) undervalue as compare to Caspian or Lakefront?
    Comments?

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    I kind of like the analysis. He is pointing out that the properties market in singapore is a house of cards, and will soon to topple.

    the unholy alliance of banks, agents, and developers, and the marketers are responsible for blowing up the bubbles, which will soon burst under the new measures.

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    A most recent example is The Lakefront Residences in Jurong West launched in Q4 2010. Of the 167 units transacted, based on the latest Realis data, the highest price achieved was $1,362 psf and the average was $1,074 psf. Just 100m away, the older condominium Lakeholmz, at $681 psf on average, is half of the peak price at The Lakefront Residences (without considering the sizes of apartments, just comparing psf values for the street block). Even if we topped up the 10-year expired lease tenure for Lakeholmz to 99 years and added a generous construction cost of $250 psf, it would be difficult to place a value for a new apartment in that street at above $1,000 psf.


    LH at 680psf...add lease+construction cost shd be 350psf? how he derive 250psf? when all experts r saying construction cost alone nowadays cost 300psf....so adds up... about 1k to 1050psf wat....how come cannot imagine 1kpsf??

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    Quote Originally Posted by stalingrad
    I kind of like the analysis. He is pointing out that the properties market in singapore is a house of cards, and will soon to topple.

    the unholy alliance of banks, agents, and developers, and the marketers are responsible for blowing up the bubbles, which will soon burst under the new measures.
    so wats the 'true value' of carabelle?

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