Sky Habitat - Bishan

[carbuncle]

That MacDonalds is a danger zone, bro/sis. Better not to live near it. Especially if you have kids. Remember that CEO of MacDonalds died at a young age from colon cancer. Colon cancer risk is highly linked to diet (food eaten). He admitted that he had eaten a lot of burgers......so don't follow down that road. An occasional treat is OK but not regular exposure to the junk food.

I actually know someone who prides herself for having bought a hdb flat with McD right downstairs... That even the retired parents also go and eat...

[carbuncle]

See Bishan 8? Is that the one (or another condo in Bishan?) where buyers bought at about $1000 psf price (the highest of all suburb condos during that time) in 1997 and never see their price rise above water again for 15 years until recently?
Looks like Bishan is a place famous for many such buyers?

What then will you call those who sell Bishan8 to "upgrade" to SH?

[carbuncle]

At least they have paid for 14 years of convenience, no?

What a big price to pay...

[azeoprop]

Is it crowded on a weekday today?

Nobody around. btw only 2% discount.

[Ilikeu]

I actually know someone who prides herself for having bought a hdb flat with McD right downstairs... That even the retired parents also go and eat...

I don't see anything wrong with that... I do think it "value-add" a bit to the flats there.

[Ilikeu]

Nobody around. btw only 2% discount.

Thanks. Probably i will go and kpo on weekends then. If not, weekday no one around, the agent will follow me like a leech.
Any idea how many more units sold (from 125units as reported on Sunday)?

[carbuncle]

I don't see anything wrong with that... I do think it "value-add" a bit to the flats there.

Not so healthy. They can go like few times a week....

[speculator]

govt policies can come and go, depending whether the situation calls for it. all these CMs can just go poof if there's a sudden deep downturn. i don't think we will have a lehman-scale crash in the coming 1-2 years and hence, i would use it as a benchmark

Sometimes CM doesn't only serve the purpose of trying to cool the markets, but also serve the purpose of having policy on hand to minimise losses if markets plummet i.e withdrawing these measures can serve to stimulate the markets when needed.

That was why developed market Central Banks wanted to normalise interest rates at some stage, but economic growth in the Developed Markets had not allowed them to do it for last few years.

[Komo]

probably this project can sell better if it is built up

[fclim]

$76m is also ridiculous in my opinion. i wonder if such expense is itemised and available to the public to scrutinise it.

Aiyoh.. No issue lah. The sale of SH land is enuff to pay for this with spare change. Must thank SH owners for sponsoring this park. Hehe

[chiaberry]

Not so healthy. They can go like few times a week....

I am not so worried about the effects on the elderly. Whatever damage has already been done in their younger days. It is the cumulative effect of regular junk food on the young children that is more of a concern. They are already taking some amount of junk food in the school tuck shop/canteen, let alone coming home to drop by the MacDonalds downstairs.

[Wild Falcon]

Read what the MP says. It is $1.2 billion. In fact this project was all over the news and attract a lot of flak. the $76 million maybe is just the beautification of the park portion (add plants lah, pathways, dig river etc). $1.2 billion is the whole water project to convert and pump a fake river than runs through kallang inspired by Seoul.

$76m is also ridiculous in my opinion. i wonder if such expense is itemised and available to the public to scrutinise it.

[fclim]

Read what the MP says. It is $1.2 billion. In fact this project was all over the news and attract a lot of flak. the $76 million maybe is just the beautification of the park portion (add plants lah, pathways, dig river etc). $1.2 billion is the whole water project to convert and pump a fake river than runs through kallang inspired by Seoul.

Not true. Read more...

"And do you know how much this is going to cost? It's going to cost S$1.2 billion in the next five years - double what we spent in the last five years.

"So the Ang Mo Kio team is committed to (making) Ang Mo Kio even better for all of our residents".

Mr Inderjit Singh said the S$1.2 billion also covers the HDB and Town Council upgrading plans for the next five years. S$642 million was spent on the HDB and Town Council upgrading programmes in the past five years.

Full report here: http://www.channelnewsasia.com/stori...125780/1/.html

[chiaberry]

Read what the MP says. It is $1.2 billion. In fact this project was all over the news and attract a lot of flak. the $76 million maybe is just the beautification of the park portion (add plants lah, pathways, dig river etc). $1.2 billion is the whole water project to convert and pump a fake river than runs through kallang inspired by Seoul.

This is suspicious. Is there someone with "connections" in the ABC Waters? There seem to be quite a number of ABC Waters projects springing up here and there. That amount of money spent on the park seems to be over the top. That river doesn't look too fantastic after the revamp.

[Ilikeu]

This is suspicious. Is there someone with "connections" in the ABC Waters? There seem to be quite a number of ABC Waters projects springing up here and there. That amount of money spent on the park seems to be over the top. That river doesn't look too fantastic after the revamp.

if people is calling the punggol one a longkang, i think bishan one is worse. To spend $76m on that is ridiculous, somehow i cannot convince myself how the sum can add up to this much.

[Poloclub]

if people is calling the punggol one a longkang, i think bishan one is worse. To spend $76m on that is ridiculous, somehow i cannot convince myself how the sum can add up to this much.

the role of government is abit different from private sector. Sometime they will have to initiate construction project even at higher cost just to keep the construction industry moving.

one example is the proposed Terminal 4 at changi.

[Ilikeu]

the role of government is abit different from private sector. Sometime they will have to initiate construction project even at higher cost just to keep the construction industry moving.

one example is the proposed Terminal 4 at changi.

Well, I'm not questioning the merit of govt's fiscal policy. Fiscal policy is a must and it brings value to the country.

As for your following statements that "they will have to initiate construction project even at higher cost just to keep the construction industry moving. one example is the proposed Terminal 4 at changi", it seems that you are suggesting that the cost to built T4 are at a "higher cost" and giving an above-market profit margin to the winning construction company. I don't think you meant it in this way, i hope.

The crux of the matter is the cost, and not the intention of the fiscal policy. Take a walk at Bishan park yourself and see if it is worth the $76m cost.

[stiook]

Well, I'm not questioning the merit of govt's fiscal policy. Fiscal policy is a must and it brings value to the country.

As for your following statements that "they will have to initiate construction project even at higher cost just to keep the construction industry moving. one example is the proposed Terminal 4 at changi", it seems that you are suggesting that the cost to built T4 are at a "higher cost" and giving an above-market profit margin to the winning construction company. I don't think you meant it in this way, i hope.

The crux of the matter is the cost, and not the intention of the fiscal policy. Take a walk at Bishan park yourself and see if it is worth the $76m cost.

Why must they chop down all the trees? now so bare... no shade at all.

[GSLJ]

http://sg.finance.yahoo.com/news/3-l...160000095.html

3 Lessons From the Sky Habitat Sale


Yeah, “Sky Habitat” is right; because that’s how far the buyers of this Bishan Condo have kicked off from Earth. Sky Habitat is an official stamp; the final statement that yes, we have finally crossed the point where we have more money than brains. In this article, we examine the three lessons we desperately need to learn from Sky Habitat. There would be four, but apparently “Don’t be stupid” isn’t a choice some buyers can make:



What is Sky Habitat?

It’s an overpriced condo in Bishan, designed by architect Moshe Safdie (also known as “Who?” to 99% of Singaporeans). You can see more on the price at H88.
At an average price of $1747 per square foot, Sky Habitat is Singapore’s most expensive suburban project. It’s also one of the most heavily marketed properties: The 3D model alone is two storeys tall, and take a look at their video flythrough. It’s the perfect backdrop to a Bond villain lifestyle.
Despite high prices, a non-central location, and being a 99 year leasehold, some buyers remain enthusiastic about the place. During the initial offering of 180 apartments, 125 were sold within the first day. Which, in a sane world, is 125 more than we’d expect.
But what can we learn from the illogical success of Sky Habitat?


1. The Centre Cannot Hold

As H88 suggests, the “gap between suburban homes and homes in the central region are narrowing”. Right now, developers still visualize Singapore as “District 9 and the surrounding dumps”, but that’s changing.
Sky Habitat shows how property prices in out-of-central regions are beginning to climb. It’s no longer a safe bet that places like Bishan will always be cheaper, or that heartland regions will remain open to lower income earners. The intrusion of high priced projects will influence prices in the relevant district, and we might see an unsustainable price inflation.
There are significant ramifications, which might impact first time home owners a decade from now. Don’t be surprised if, 10 years down the road, you realize your moderate income won’t get you a place near your parents in Tampines.
Investors take note: Maybe it’s time to stop obsessing over Orchard and River Valley, and turn your attention elsewhere.


2. Property Is Always Sentiment Driven

Market inefficiencies are a thing of the past, right? I mean, anyone can get accurate info on market prices, loans, and property reviews. No one needs to make uninformed purchasing decisions.
Well, too bad one connection the Internet won’t provide is a connection to reality. Whether you’re a property investor, home owner, or leech on society banker, let Sky Habitat reinforce an old lesson: When it comes to property value, sentiment is king.
If you’re making an investment, don’t just read the numbers. Regular home owners aren’t property investors, and they don’t always work on logic. As CapitaLand proves, they could fence off a clogged outhouse and sell it at $1,700 a square foot, provided the brochure’s in full colour. Learn to recognize architectural appeal and strong marketing as key factors.
If you’re a home owner, don’t get suckered by a pretty building. When your’re down to your last 50 bucks from ridiculous loan payments, the marble tiling will look a lot less attractive.


3. Our Property Market is Hideously Inflated

This building is the equivalent of fetching your morbidly obese friend, and giving him vouchers to every buffet in town. You can practically hear the eulogy at his funeral. It’s wasteful, decadent, and suggests imminent problems.
The developers paid over $550 million for Sky Habitat’s land, which was around $118 million more than the next bidder. A huge price tag, but theirs was a confidence born of faith. Faith in our illogical spending habits, and faith in an over-inflated property market.


Why would buyers purchase something this overpriced, when there are surrounding properties in Bishan that are cheaper? The location is the same. No matter how good Sky Habitat looks, it’s not going to be significantly more convenient. The only plausible answer is that buyers are getting presumptuous. They’ve begun to overrate the value of prestige, and are ignoring fundamentals of location and function.
This isn’t so much a lesson as an omen: If the government’s got a grip, we should see a hair trigger on those cooling measures. I’d expect, in fact I’d hope, to see another round soon. This property bubble is huge, and getting more wobbly by the day.

[Kenshinto80]

http://sg.finance.yahoo.com/news/3-l...160000095.html

3 Lessons From the Sky Habitat Sale


Yeah, “Sky Habitat” is right; because that’s how far the buyers of this Bishan Condo have kicked off from Earth. Sky Habitat is an official stamp; the final statement that yes, we have finally crossed the point where we have more money than brains. In this article, we examine the three lessons we desperately need to learn from Sky Habitat. There would be four, but apparently “Don’t be stupid” isn’t a choice some buyers can make:



What is Sky Habitat?

It’s an overpriced condo in Bishan, designed by architect Moshe Safdie (also known as “Who?” to 99% of Singaporeans). You can see more on the price at H88.
At an average price of $1747 per square foot, Sky Habitat is Singapore’s most expensive suburban project. It’s also one of the most heavily marketed properties: The 3D model alone is two storeys tall, and take a look at their video flythrough. It’s the perfect backdrop to a Bond villain lifestyle.
Despite high prices, a non-central location, and being a 99 year leasehold, some buyers remain enthusiastic about the place. During the initial offering of 180 apartments, 125 were sold within the first day. Which, in a sane world, is 125 more than we’d expect.
But what can we learn from the illogical success of Sky Habitat?


1. The Centre Cannot Hold

As H88 suggests, the “gap between suburban homes and homes in the central region are narrowing”. Right now, developers still visualize Singapore as “District 9 and the surrounding dumps”, but that’s changing.
Sky Habitat shows how property prices in out-of-central regions are beginning to climb. It’s no longer a safe bet that places like Bishan will always be cheaper, or that heartland regions will remain open to lower income earners. The intrusion of high priced projects will influence prices in the relevant district, and we might see an unsustainable price inflation.
There are significant ramifications, which might impact first time home owners a decade from now. Don’t be surprised if, 10 years down the road, you realize your moderate income won’t get you a place near your parents in Tampines.
Investors take note: Maybe it’s time to stop obsessing over Orchard and River Valley, and turn your attention elsewhere.


2. Property Is Always Sentiment Driven

Market inefficiencies are a thing of the past, right? I mean, anyone can get accurate info on market prices, loans, and property reviews. No one needs to make uninformed purchasing decisions.
Well, too bad one connection the Internet won’t provide is a connection to reality. Whether you’re a property investor, home owner, or leech on society banker, let Sky Habitat reinforce an old lesson: When it comes to property value, sentiment is king.
If you’re making an investment, don’t just read the numbers. Regular home owners aren’t property investors, and they don’t always work on logic. As CapitaLand proves, they could fence off a clogged outhouse and sell it at $1,700 a square foot, provided the brochure’s in full colour. Learn to recognize architectural appeal and strong marketing as key factors.
If you’re a home owner, don’t get suckered by a pretty building. When your’re down to your last 50 bucks from ridiculous loan payments, the marble tiling will look a lot less attractive.


3. Our Property Market is Hideously Inflated

This building is the equivalent of fetching your morbidly obese friend, and giving him vouchers to every buffet in town. You can practically hear the eulogy at his funeral. It’s wasteful, decadent, and suggests imminent problems.
The developers paid over $550 million for Sky Habitat’s land, which was around $118 million more than the next bidder. A huge price tag, but theirs was a confidence born of faith. Faith in our illogical spending habits, and faith in an over-inflated property market.


Why would buyers purchase something this overpriced, when there are surrounding properties in Bishan that are cheaper? The location is the same. No matter how good Sky Habitat looks, it’s not going to be significantly more convenient. The only plausible answer is that buyers are getting presumptuous. They’ve begun to overrate the value of prestige, and are ignoring fundamentals of location and function.
This isn’t so much a lesson as an omen: If the government’s got a grip, we should see a hair trigger on those cooling measures. I’d expect, in fact I’d hope, to see another round soon. This property bubble is huge, and getting more wobbly by the day.

Good one! Yes, property market sentiment driven. Same as stock market. Come to another economic crisis, I do not think majority of the Sky Habitat owners will have problem paying mortgage as they are super rich. The main issue is government has been releasing too many land for EC n Condo which means capital excesses during recession. Typical economic cycle woe in progress.

[minority]

How's the Hungary crowd this weekend?

[Lovelle]

How was the sales. Tis wkend?

[Komo]

any sales?
or everyone now feeling like dbss?

[amk]

Heard only hor.. 150 sold, most 2bd gone, half 3bd gone, most 4bd and terrace units available.
As of this morning.

[DaytonaSS]

How's the Hungary crowd this weekend?

i went for a 2nd time to take a closer look at the nice reno. Crowd is pretty health. LAst i ask ard 3pm, total sold ard 150+ i think.

[kane]

4 bedroom quantum can buy landed, maybe that's why the take up is slower...

[pinkie]

i went for a 2nd time to take a closer look at the nice reno. Crowd is pretty health. LAst i ask ard 3pm, total sold ard 150+ i think.

Is that additional 150 sold or total units sold till date = 150?

[amk]

Is that additional 150 sold or total units sold till date = 150?

Total sold till now lah ! Additional 150 sold will mean CM immediate already.

Basically only units < 2ml are moving.

I think it will at best do 50% in the near term, clearing all the small quantum ones. The rest, sell until after TOP...

[phantom_opera]

This is a boost to rcr bullishness

[stiook]

Drove pass... Does not seem crowded from the outside. Saw a lot of agents sitting and waiting at the tentage.