Sky Habitat - Bishan

[wind30]

If they dare to release it to press and becomes public news then it's probably true. All options to purchase are serialised and tracked by URA.

However if this was told to me by agent. Then I will take it with a pinch of salt.

If they sell it to themselves, the company needs to pay 10% ABSD. Capitaland may be loaded but not stupid

Is there anything law to stop them from "buying" some units themselves?

They can always sell them away later on...

[DaytonaSS]

I think it is true, as they are natural stones, and they can be laid with almost paper thickness-thin gap (vs big gaps for tiles, and hence the latter easily accumulate dirts and still need patching up after the glout start to disappear after some years (whereas no such problem with marbles)).... Tiles won't have this effect. Another thing, after say 5 years when marble not shiny, just polish it and it is like NEW again. No such luck with tiles!

The big piece timber strips use for bedrooms will not pop-up easily even after 20 years whereas the small pieces parquets will pop up after several years (about 5-6 years?).

talk about finishing teddy sure come. dont even wanna get you started on the bath room and kitchen appliances. Your standard too high liao.

[new2mondrian]

Minton is probably close to or at EC level. How can it compare to Sky Habitat?
Minton is the ultimate mass market with more than a thousand units.

Even EC doesn't have this many units.

Quality of resident is also questionable in such low end MM

Wah, if over 1000 units equates mass market, then condos such as The Sail (1,111 units) and D'Leedon (1,715 units) must be super duper mass market too! Rofl...

Maybe boutique sized developments with 50 studio units squeezed into a small plot of land would be ultra high end in this aspect? I just cannot understand this perspective....

And if Minton, with its studio sizes of 600-700sqft, is a low end MM, then the rest of the condos with studios of 350sqft such as Spottiswoode 18 is mini MM?!!!

[Rosegarden]

talk about finishing teddy sure come. dont even wanna get you started on the bath room and kitchen appliances. Your standard too high liao.

Frankly, the finishing is disappointing for a 1700psf project. Homogeneous tiles!!! Is SH trying to blend in with the surrounding HDBs? In the bathroom, ONE of the walls is marble, perhaps to give the new owners a taste of what it could have been.

[speculator]

Is there anything law to stop them from "buying" some units themselves?

They can always sell them away later on...

Since you like to believe in conspiracy theory. The story goes..
Capitland can sell Capital ABC pte ltd 126 units. Create 126 false option to purchase. Then collect an imaginary 5% option fee

Otherwise have geninue option to purchase and let the sale go through and Capital ABC pte ltd pays a total of 13% stamp duty on 126 units on $2mil each.

Do you think Capitaland is stupid or what?
It's a listed company there are further ramifications for cooking the account books.

Please use a bit thought before shouting conspiracy

[DaytonaSS]

Frankly, the finishing is disappointing for a 1700psf project. Homogeneous tiles!!! Is SH trying to blend in with the surrounding HDBs? In the bathroom, ONE of the walls is marble, perhaps to give the new owners a taste of what it could have been.

i cant really say i disagree. Ask them throw in some marbles lah!

[fclim]

Minton is probably close to or at EC level. How can it compare to Sky Habitat?
Minton is the ultimate mass market with more than a thousand units.

Even EC doesn't have this many units.

Quality of resident is also questionable in such low end MM

You fit my profile of a propertycuckoo. Go do ur homework before spouting nonsense lah.

[richie$$$]

lau ah pek damn disapppointed? what is his story now?

[speculator]

You fit my profile of a propertycuckoo. Go do ur homework before spouting nonsense lah.

Quality of resident is also questionable in such low end MM wasn't an appropriate remark. Especially offensive to buyers of The Minton. Not in my interest to offend a thousand over people. It was an insensitive and inappropriate remark which I'll retract.

The fact remains The Minton is towards the lowest end of any MM condo but this however presents 'good value' to some. Especially when some Minton owner may see the size of their development as selling point on par with equally large developments; The Sail, D'Leedon, Reflectons when their Minton cost only a fraction of these.

[kane]

How is it lowest end when it has extensive facilities. If they had price it at $1100psf. Would it still be perceived as lowest end?

Plus it's sandwiched by landed north and south of the site unlike some mass market that is surrounded by hdb all round.

And it is walking distance to nex.

[azeoprop]

Basically the price tag shows that crappyland is trying to transfer their overbidded land cost to the buyers. They only added the "designer" tag to justify the price, the rest of their offerings are run-of-the-mill typical of any other mass market condo.

[kane]

Basically the price tag shows that crappyland is trying to transfer their overbidded land cost to the buyers. They only added the "designer" tag to justify the price, the rest of their offerings are run-of-the-mill typical of any other mass market condo.

120+ folks seem satisfied in absorbing the cost of capitaland.

[fclim]

Quality of resident is also questionable in such low end MM wasn't an appropriate remark. Especially offensive to buyers of The Minton. Not in my interest to offend a thousand over people. It was an insensitive and inappropriate remark which I'll retract.

The fact remains The Minton is towards the lowest end of any MM condo but this however presents 'good value' to some. Especially when some Minton owner may see the size of their development as selling point on par with equally large developments; The Sail, D'Leedon, Reflectons when their Minton cost only a fraction of these.

Yup, you said it. It is not about The Minton, but the elitist connotation and remark that the quality of the people living in ECs and low end Mass Market (MM in ur definition) are considered "questionable". Minton quantum is not that cheap also.

[bargain hunter]

Published April 16, 2012

CapitaLand sells 125 units at Sky Habitat
180 of project's 509 units released so far; prices averaged $1,642 to $1,747psf
By
Kalpana Rashiwala

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Interest in Sky Habitat: Buyers are drawn to the Moshe Safdie-designed project's proximity to Bishan MRT and bus interchange, Junction 8 mall and good schools

- CAPITALAND












[SINGAPORE] CapitaLand said it has sold 125 units at its 99-year leasehold Bishan condo project Sky Habitat as at 6pm yesterday.
The property group did not provide an overall average per square foot (psf) price achieved, but said the average prices for a four-bedroom unit and a one-bedroom unit were $1,642 and $1,747 psf respectively.
The prices are nett, after factoring in all the discounts under an incentive scheme - a 3 per cent discount for all buyers, plus a further one per cent loyalty discount for existing owners of CapitaLand homes and an additional one per cent discount if the buyer currently lives in Bishan.
CapitaLand said two and three-bedroom units accounted for 81 per cent of the 125 units sold. So far, 180 of the project's 509 units have been released.
Word in the market is that the pricing for Sky Habitat helped to move sales for Cheung Kong's Thomson Grand project over the weekend. The 99-year condo, 2.8 km away from Sky Habitat, is located at Sin Ming Walk and boasts views of Island Golf Course and Lower Peirce Reservoir. In February, Cheung Kong sold 51 units in the project at a median price of $1,305 psf, based on Urban Redevelopment Authority data compiled from developers' monthly sales declarations.
CapitaLand opened Sky Habitat's show gallery at 9 am on Saturday to interested parties who had pre-registered with its marketing agents, ERA and Knight Frank. At 2 pm, the project was opened to the public.
Wong Heang Fine, CEO of CapitaLand Residential Singapore, said in a statement that 83 per cent of Sky Habitat's buyers are Singaporeans who have purchased units for their families to live in. "All agree that the location - proximity to Bishan MRT and bus interchange, Junction 8 shopping mall and good schools - is hard to beat," he added.
The Moshe Safdie-designed project has two 38-storey towers and its design is characterised by a dramatic stepping form, creating a three-dimensional matrix of homes, private terraces and public gardens. The project will feature three sky bridges (on the 14th, 26th and 38th floors).
The property giant clinched the Bishan site in February last year at $869.36 psf of potential gross floor area - a new high for 99-year suburban condominium land in Singapore and a whopping 27 per cent or $118 million above the next highest bidder at the tender, which drew 19 bids.
CapitaLand holds a 65 per cent stake in the project, with Mitsubishi Estate Asia and Shimizu Investment (Asia) holding 25 per cent and 10 per cent stakes respectively.

[Juniper]

For those who are interested, price list and photo, taken today. The list is not exhaustive but you'll get the idea and can infer the others. Anyway, (almost) all the good facing 2 and 3 bedders are gone. 1 and 4 bedders not so popular.

Congrats to Bishan HDB/condo owners and let's see if this momentum can continue for SH. My guess is no.

what about new release? anymore good facing?

[phantom_opera]

Nothing wrong with capl strategy ... both TG/SH are targeting the high end market segment ... still better value than Bishan8 @ 1100psf in 1998 given the designer status ... judging from the sales in the first 2d, I would say there is no problem break-even in 3 months time barring draconian CM6

Forget about finishing la ... the buyers will ask CAPL not to fit anything and let them do reno themselves ... they probably have 200k extra budget

[Juniper]

Nothing wrong with capl strategy ... both TG/SH are targeting the high end market segment ... still better value than Bishan8 @ 1100psf in 1998 given the designer status ... judging from the sales in the first 2d, I would say there is no problem break-even in 3 months time barring draconian CM6

Forget about finishing la ... the buyers will ask CAPL not to fit anything and let them do reno themselves ... they probably have 200k extra budget

Capitaland might have already launched all the best units for this entire project to create some positive sentiment. If those left over are less choice units, i think it will be difficult to sell

Didnt we see the same hype when they launch the D'Leedon?

[chiaberry]

The units are so small that it would not cost too much to upgrade the fittings. If they can afford the roughly 2mill price tag of the 3-bedder they should be able to afford the cost for upgrading the fittings which would be less than 100K. Unless they are speculating on the unit and have not much cash in which case, too bad....they get what they deserve.

[Juniper]

The units are so small that it would not cost too much to upgrade the fittings. If they can afford the roughly 2mill price tag of the 3-bedder they should be able to afford the cost for upgrading the fittings which would be less than 100K. Unless they are speculating on the unit and have not much cash in which case, too bad....they get what they deserve.

Wont that void developer's warranty of defects?

[speculator]

Nothing wrong with capl strategy ... both TG/SH are targeting the high end market segment ... still better value than Bishan8 @ 1100psf in 1998 given the designer status ... judging from the sales in the first 2d, I would say there is no problem break-even in 3 months time barring draconian CM6

:

Actually good point. Remember $1100 in 1998 is not the same $1100 today.
Judging from the inflation over drive of US printing money followed by now Europe

Not forgetting China and India back then wasn't well off as they are today

[phantom_opera]

Capitaland might have already launched all the best units for this entire project to create some positive sentiment. If those left over are less choice units, i think it will be difficult to sell

Didnt we see the same hype when they launch the D'Leedon?

Like teddy said ... D Leedon is not for HDB upgraders ... SH is
You know once HDB upgrader bought something, they are so excited and keep telling all the relatives to follow them to buy

It is obvious D Leedon buyers mainly are investors

[Wild Falcon]

d'Leedon not necessarily better than Sky Habitat. Anyway, 70% of "launched" units is not exactly superb performance. Its going to get harder to sell going forward. Look at d'Leedon. At first also manage to sell significant portion of "launched" units, now not much movement.

Anyway, if launch best units now, it means PSF can only go downhill from here. Very different from FEO strategy - FEO usually launch so-so units first and best units reserve later. At least investors see the PSF keep rising and feel good that early investors are "protected".

[chiaberry]

Wont that void developer's warranty of defects?

Good point. Anybody know?

[Juniper]

Like teddy said ... D Leedon is not for HDB upgraders ... SH is
You know once HDB upgrader bought something, they are so excited and keep telling all the relatives to follow them to buy

It is obvious D Leedon buyers mainly are investors

I thought many of the buyers for D'Leedon smallish units are HDB upgraders?

Unless Teddy already know the profile of SH buyers, else thats pure speculation.

[phantom_opera]

d'Leedon not necessarily better than Sky Habitat. Anyway, 70% of "launched" units is not exactly superb performance. Its going to get harder to sell going forward. Look at d'Leedon. At first also manage to sell significant portion of "launched" units, now not much movement.

Anyway, if launch best units now, it means PSF can only go downhill from here. Very different from FEO strategy - FEO usually launch so-so units first and best units reserve later. At least investors see the PSF keep rising and feel good that early investors are "protected".

I beg to differ. You must take in CM4-CM5 into consideration. If not because of all the CMs, they would have sold 200+ units .... they can sell 120+ units in 2d despite 4y SSD + ABSD @ record psf is considered very good performance already ... don't forget that foreigners ABSD is 10%

[DC33_2008]

It is not really walking distance to nex.

How is it lowest end when it has extensive facilities. If they had price it at $1100psf. Would it still be perceived as lowest end?

Plus it's sandwiched by landed north and south of the site unlike some mass market that is surrounded by hdb all round.

And it is walking distance to nex.

[Wild Falcon]

Not really. If you look at say Watertown and Hillier, all these are launched after the CM, and sales performance is way better.

Sometimes I think the "launched units" is solved backwards. So if sell 120 units, and target 70%, the work backwards to announce launch 180 units. So 70% sounds "acceptable". It's unlike more transparent where majority of all units are launched - then u gauge real demand.

And if developer launch BEST units first to create "high" PSF mirage, then there is a risk PSF starts to go down. Its in the interest of the developer, but not in the interest of the buyer.

Most of the buyers interviewed quote "MRT" and "branded design" as the key selling point. I guess these guys have not considered by the time Sky Habitat TOPs in 2016, more MRT lines will be up already at much more exclusive locations, so MRT premium may not be so high at that point.

I beg to differ. You must take in CM4-CM5 into consideration. If not because of all the CMs, they would have sold 200+ units .... they can sell 120+ units in 2d despite 4y SSD + ABSD @ record psf is considered very good performance already ... don't forget that foreigners ABSD is 10%

[minority]

Wow.. 70% of 180 units on first 2 days? Not bad. But still I cannot see the price to value people willing to pay . It's eye in the beholder. Saw the finishing cheap... Balcony so big. That area year end is very windy. High floor living in strong wind? Hmmm

Not a good buy at all. I guess residence living near by who want to sell ate all happy! At least this benefited some folks.

[fclim]

It is not really walking distance to nex.

Quite subjective really. I have walked before. About 11 to 13 mins. My friend who lives in the HDBs at Lor Ah Soo says he walks to Nex all the time. For some people, even 50m walk to the car park is considered far.

[b13boy]

SH is for SH
developer out bidded everyone with out of this world price with based price of 8xx psf (quoted from H88) of course they need to sell you the out of this world price.

for own stay, nothing to argue, prospective can pay whatever price they want to, including a ridiculous one

For investment, this is a no brainer.