a unit of similar size was tenanted out at 5.8k in nov. his purchase price was more than 3.4m.
Senior
a unit of similar size was tenanted out at 5.8k in nov. his purchase price was more than 3.4m.
Music of the night
purchase in 2007 is like a curse:
Rio Tinto said on Thursday it would write down the value of its aluminium assets by $10bn-$11bn, mostly related to its disastrous $38bn purchase of Canada’s Alcan in 2007. The group will also take a $3bn charge over coal assets in Mozambique, purchased only two years ago for $3.7bn.
Ride at your own risk !!!
Senior
those were the go-go years where big units command equal, if not higher psf.
Originally Posted by phantom_opera
Junior
Prime school? The way you say it its like Nanyang Primary = success and confirm RI? If you look at the top secondary schools, they come from a variety of primary schools. Frankly, if your child is good, he will excel in any primary school. If you child is poor caliber, any "prime" primary school gets you no where. Frankly, the majority of the networking is in secondary school and JC onwards. That is when character and friendship is formed.
The funny part is those who move 1km within whatever school are the ones who have no affiliation and therefore never been educated in an elite primary school before. I guess its the hope that their children will be better off than they are or something that they will never be.
Junior
Haha I also saw this interesting transactionoh no, the poor fella who set the record psf for duchess during the 07 craze
1485 sq ft
BOUGHT 2007-07-31 2300psf
SOLD 2013-01-07 1885psf
net loss in excess of 700k.
2300 psf was really over the top. 2% huh
Speaking of which, this kind of sharp rise within hours can only happen when price list was not available, and developer can raise the price on th spot seeing the crowd.
I initially thought URA already said now developers must make price list available 2 days before launch , is it true ? I went to see Echelon show flat, the agent said no still no need to release price list. Every unit must go and ask. Like that the developer can still play the same game rite.
Senior
that's right! still no price list! but mkt is "not hot enough" for developer to pull off the same trick. another thing is, i have not seen any developer as unscrupulous as to raise price by 30 to 50% within a few days lor. have you?
Haha I also saw this interesting transaction
2300 psf was really over the top. 2% huh
Speaking of which, this kind of sharp rise within hours can only happen when price list was not available, and developer can raise the price on th spot seeing the crowd.
I initially thought URA already said now developers must make price list available 2 days before launch , is it true ? I went to see Echelon show flat, the agent said no still no need to release price list. Every unit must go and ask. Like that the developer can still play the same game rite.
Senior
u saw pictures of the huge OCR crowds at showflats right? i don't see developers raising prices intraday becoz of the huge crowds do u? its integrity lah.
Haha I also saw this interesting transaction
2300 psf was really over the top. 2% huh
Speaking of which, this kind of sharp rise within hours can only happen when price list was not available, and developer can raise the price on th spot seeing the crowd.
I initially thought URA already said now developers must make price list available 2 days before launch , is it true ? I went to see Echelon show flat, the agent said no still no need to release price list. Every unit must go and ask. Like that the developer can still play the same game rite.
Senior
i remember sky habitat had all the prices on a board during lunch. why are the standards so inconsistent? just put all the published prices on a big board, can't be that difficult.
Junior
That was because CAPL, being a Temasek company, was doing NS.
Senior
so how effective exactly is that guideline of published rates?
Senior
TRIBECA 1905 SQ FT
BOUGHT 2011-01-29 1850PSF
SOLD 2013-01-11 1974PSF
THAT MEANS THE SELLER HAS TO PAY 12% SELLER'S STAMP DUTY?!?!?!?!
Lazy Bum
And 10 days later he could have paid 8????TRIBECA 1905 SQ FT
BOUGHT 2011-01-29 1850PSF
SOLD 2013-01-11 1974PSF
THAT MEANS THE SELLER HAS TO PAY 12% SELLER'S STAMP DUTY?!?!?!?!
When you have eliminate the impossible, whatever remains, however improbable, must be the truth
Newbie
Are you sure? Why would anyone pay $4k for a studio?
Wouldn't it be cheaper to rent a hotel room on a long term basis? Plus the electricity and daily housekeeping is covered.
Senior
Bought 2007-07-30 3010psf 2874 sq ft
Sold 2013-01-09 2992psf
not much loss but long holding period.
Senior
well, he has to consider that the buyer has to buy on 11th, otherwise buyer will need to pay 7% stamp duty and may back out of the deal instead.
And 10 days later he could have paid 8????
Senior
bought 2007-12-05 2350psf 1184 sq ft
sold 2013-01-11 2280psf
small loss but again a 5 year holding period.
Senior
Bought 2010-07-30 1411psf 872 sq ft
Sold 2013-01-14 1468psf
4% gross profit, run on breakeven.
Senior
again on the 11th hour. lots of vultures around.
Senior
fishy huh....they say very strict on backdating, sure or not? how come so many caveats on 11th jan? kekekekekeke
Junior
It seems properties bought in the last few years are barely breaking even.
I am wondering how things will be like in 1-2 years time.
The SSD effect has yet to kick in. When the 4 year period from the time it was first introduced has past, then we will know the real demand and supply.
Can rental sustain the current ridiculous asking prices?
Newbie
Has to do with location.
Able to rent a hotel room in CCR/CBD of comparable size at $133 per night?
Newbie
No, but if lease for 1 year, can negotiate a better rate, although not as low as $133 a night.
Global recession is coming....
Hotel room? Mmm, 150 sqft for S$300 per night x 30 days = S$9000 per month for a 150 sqft space?
How to compare like that to $4k per month for 600 sqft space?
Newbie
Hotel room? Mmm, 150 sqft for S$300 per night x 30 days = S$9000 per month for a 150 sqft space?
How to compare like that to $4k per month for 600 sqft space?
600 sq ft studio? Must be a very large studio.
Developers are selling 600+ sq ft apartments that includes the kitchen, living room and 3 bedrooms.
Senior
mainly big units in CCR struggling:
Alan Cheong, senior director at Savills cautions that one should not be fooled into believing that rising rents for non-landed properties signal a strong rental market. On a $psf basis, the increase, he said, is because tenants, when faced with less ostentatious budgets are leasing smaller apartments and also at further out places.
"As they back into this lower segment of the market, rents are bound to rise on a $psf basis. The larger apartments and those in the prime districts are not getting tenancy traction and are thus seeing rentals fall by up to 15-22% since mid-2010. Their plight are probably not reflected in the URA rental statistics because there are not enough such transactions to outweigh the greater number of low quantum sign-ons."
Newbie
How about Riverview Hotel? The rates are about S$150 a night for a 250 sq ft room. If book for 1 year, I think can get a 20% discount.
Senior
BOUGHT 2010-04-13 2063PSF 592 SQ FT
SOLD 2013-01-16 2044PSF
seller panicked by measures.
Newbie
Bought n sold within 3 yrs not caught by ssd sellers stamp duties
Why need to sell.
Junior
bought Apr 2010, the SSD is one yr.
Senior
panic sell could be due to many reasons:
1) overexposed and felt the need to reduce
2) view that market prices may drop
3) irrational panic
or for whatever other reason.
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