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Thread: Yishun EC site attracts top bid of $213.8m

  1. #1
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    Default Yishun EC site attracts top bid of $213.8m

    MCC Land put in the highest bid price, which is higher than the previous EC site in Pasir Ris.

    Breakeven is above $600psf.

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    Total 8 bidders.

    So they are going to sell at least $700psf. Nearby pte condo will benefit.

    Punggol. Sengkang & Pasir Ris are pretty "hot" now, to achieve higher psf land price, developers are very optimistic in Yishun & Northern area.

    Now, the next one to watch out is the "Yishun Residences". See how the Bedok one sells.

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    Bingo! Just as we expected!

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    Is the site near MRT? 600psf with 20% mark up means $720psf. So who should receive the cooling measure more?

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    Limited supply plus high demand from upgraders means North is much better than North East.

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    Quote Originally Posted by kane
    Is the site near MRT? 600psf with 20% mark up means $720psf. So who should receive the cooling measure more?
    Quite near but not so near to the track instead, but the LTA will be building a new station there (abt 150m away) when critical mass is achieved.

    DBSS now already $650 psf on avg, so EC price will be above $700 psf.

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    8cy, Emerald, Sapphire, CR will get raise of 50psf ?

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    Quote Originally Posted by solsys
    8cy, Emerald, Sapphire, CR will get raise of 50psf ?
    maybe 8cy lah, since they were selling for about 750psf right?

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    Gratz to all the owners staying nearby...

    Maybe Seletaris owners may see a minor increase too?

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    Quote Originally Posted by mantrix
    Gratz to all the owners staying nearby...

    Maybe Seletaris owners may see a minor increase too?
    The NSE is causing a overhang for seletaris.

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    Quote Originally Posted by kane
    The NSE is causing a overhang for seletaris.
    yup that's why their prices have been depressed because of that....just thinking this may give them a little bit of cheer?

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    better if they say the NSE stretch outside Seletaris is going to be constructed underground. their price could rebound strongly.

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    Quote Originally Posted by kane
    The NSE is causing a overhang for seletaris.
    Yes. Not really for seletaris or maybe, but good for 8CY (> $800 psf avg currently), emerald & Sapphire. The base price for that area will be set.

    The price pusher will be the site next to SSC and will be launching in a few months time. Dun forget breakeven @ $800psf.

    More to come for the next few months.

    LHL also recently mentioned on the facelift on older estate like Yishun. Dun know what can he come up with or when or never.

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    Quote Originally Posted by Pro888
    Yes. Not really for seletaris or maybe, but good for 8CY (> $800 psf avg currently), emerald & Sapphire. The base price for that area will be set.

    The price pusher will be the site next to SSC and will be launching in a few months time. Dun forget breakeven @ $800psf.

    More to come for the next few months.

    LHL also recently mentioned on the facelift on older estate like Yishun. Dun know what can he come up with or when or never.
    SSC stands for?

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    Quote Originally Posted by kane
    better if they say the NSE stretch outside Seletaris is going to be constructed underground. their price could rebound strongly.
    Dig underground ? Too expensive & slow. It is viaduct for that stretch.

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    Quote Originally Posted by kane
    SSC stands for?
    Sembawang Shopping Centre

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    Quote Originally Posted by mantrix
    Sembawang Shopping Centre
    that's not near MRT leh.

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    Quote Originally Posted by kane
    SSC stands for?
    Sembawang Shopping Centre. A rich tycoon who stays at Sentosa cove bidded that land. The piece of land is in between SSC & Canberra Res.

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    This EC site is one of the biggest land parcel on offer and still achieve higher ppr than Pasir Ris EC site. Normally bigger area get lower psf/ppr.

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    Quote Originally Posted by Pro888
    This EC site is one of the biggest land parcel on offer and still achieve higher ppr than Pasir Ris EC site. Normally bigger area get lower psf/ppr.
    how many units expected there?

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    Quote Originally Posted by kane
    how many units expected there?
    Pretty large at 725.

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    response should be decent with the higher income ceiling.

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    Alot of pent up demand in yishun.

    First from upgraders in the area due to lack of new projects.

    Second, other area upgraders are pushed to yishun, last frontier for affordable housing.

    Third, it's the last couple of matured estates that will eventually be rejuvenated.

    Catch up game with the rest of SG.

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    Quote Originally Posted by solsys
    Alot of pent up demand in yishun.

    First from upgraders in the area due to lack of new projects.

    Second, other area upgraders are pushed to yishun, last frontier for affordable housing.

    Third, it's the last couple of matured estates that will eventually be rejuvenated.

    Catch up game with the rest of SG.
    the phrase last frontier of affordable is an exaggeration lah. There's plenty of new build in ppunggol and in the future Tengah.

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    Quote Originally Posted by kane
    the phrase last frontier of affordable is an exaggeration lah. There's plenty of new build in ppunggol and in the future Tengah.
    Tengah hasn't happen. Punggol costs more than yishun I think.

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    Many owners of Yishun Emerald & YS have increased their asking price to more than $800 psf after the released of tender bid price for this EC site.

    Sure will go up to $1000 psf.

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    Quote Originally Posted by solsys
    Tengah hasn't happen. Punggol costs more than yishun I think.
    no lah, punggol EC like Prive is about that price also.

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    Quote Originally Posted by kane
    no lah, punggol EC like Prive is about that price also.

    Prive is a done deal several months ago.

    If this new EC launch at Yishun is about the same as Prive..... then it is cheaper, given that prices still rose from several months ago till now.

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    Quote Originally Posted by solsys
    Prive is a done deal several months ago.

    If this new EC launch at Yishun is about the same as Prive..... then it is cheaper, given that prices still rose from several months ago till now.
    Prive is fairly near the MRT station whilst this one isn't right?

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    Yishun is a matured estate, punggol isn't right?

    Anyway, back to the original discussion, which is yishun is still more affordable than punggol and current projects in yishun are still undervalued.

    Just wait and see yishun residences next to yishun mrt. This project will make the rest of yishun look so much more undervalued.

    Not much space left in yishun, as the plots near emerald, sapphire are reserved for big commercial plans, that i believe will come once NSE is ready.

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