Buy and sell exactly same price, another de-coupling?Originally Posted by starrynight
Buy and sell exactly same price, another de-coupling?Originally Posted by starrynight
Looks like it!
Originally Posted by Pynchmail
Probably more to come.
GRANGE INFINITE
BOUGHT 2007-09-25 3201PSF 2594 SQ FT
SOLD 2013-03-27 2313PSF
TOTAL LOSS IN EXCESS OF $2.5M FOR AN 8.3M PURCHASE IE LOST >30% BEFORE COMISSIONS.
THE GRANGE
BOUGHT 2008-06-09 2300PSF 1765 SQ FT
SOLD 2013-03-27 2266PSF
just be careful about URA definition of resale, subsale, new sale.Originally Posted by bargain hunter
after developer completed, it will be considered RESALE, even though it is direct sale from developer.
for the unit in question #23-01 Grange infinite
2007-09-25 NEW SALE
2013-03-27 RESALE.
a possible scenario is 1st buyer didnt complete transaction and developer sold it as resale unit after completion of the condo.
If you see, 2 NEW SALE for same unit, it means 1st buyer backout.
Only 1 scenario is confirm loss, ie NEW SALE follow by SUBSALE because if 1st buyer backout, then it is considered NEW SALE by developer before project complete.
If NEW sale follow by RESALE, 1st buyer not confirmed loss because it is considered as RESALE by developer after project complete.
if you use squarefoot, and list all transactions, there will be some units which have no duplicates, ie units which have only RESALE status, but no NEW SALE status. this means developer sell unit after project completion.
in cases where the loss seems alot, only INLIS will provide us the correct whether it is true loss or 1st buyer backout, not squarefoot.
not sure if 23-01 is one of the 50+ units which the ara dragon fund bought.
Originally Posted by hopeful
even if its not actual loss, also means developer has slashed 30% off its original 2007 peak price rite?
not sure too, if ask squarefoot to show all transactionsOriginally Posted by bargain hunter
there are 2 resale, 20 subsale, 19 newsale, for a total of 41 caveat lodges.
ara bought 53 units.
Hopeful is indeed an expert!
Kudos to Hopeful!
Such talents deserved to be HUAT HUAT HUAT!
DKSG
One Tree Hill Residence
BOUGHT 2007-05-05 2400PSF 1130 SQ FT
SOLD 2013-04-01 2106PSF
NET LOSS > 400K FOR 2.7M INVESTMENT
avoid unit #06-01 for one tree hill residence.Originally Posted by bargain hunter
4 transactions in 7 years.
0th new sale(uncaveated), 2006 so probably 1486psf (see unit 08-01), (this buyer make money).
1st caveat is subsale, 2007-05-03 2390psf (this buyer lose money)
2nd caveat resale 2010-05-03 1980psf (this buyer lose money)
3rd caveat resale 2012-07-18 1897psf. (this buyer ??)
hmm, whats wrong with this unit. 2 out 4 owner lose money.
Got good brother???![]()
Originally Posted by hopeful
maybe fengshui problem? main door facing junction?
fengshui is real, can affect the inhabitants and to some extent the owner.
狮子王 (formerly blackjack21trader): READ MY LIPS: NO MORE CRASH FOR 60 YEARS.
Bernanke / Abe are the new breed of Fengshui masters ... no others are as powerfulOriginally Posted by sgbuyer
![]()
Ride at your own risk !!!
Cool info.Originally Posted by hopeful
How do we search for such info?
I wanted to ask this long time ago, think will get scolded for being spoon fedOriginally Posted by aaronc
![]()
http://www.inlis.gov.sg ?Originally Posted by Cupcakes
Anyone can share why unit been changing owners past years?
Do you guys often check all past transactions before buying a house?
I should have done that. Haha... to check fengshui.![]()
sign up for squarefoot.com to get 12 months access to the info at $120, ie $10 a month.
as discussed by bro hopeful, INLIS is more complete but squarefoot is a cheaper alternative and already quite detailed enough.
Originally Posted by Cupcakes
Developer got low ball?
SIX freehold residences at 8 Nassim Hill have been put on the market for bulk sale with a price tag of $58 million to $59 million.
The condominium project, which boasts 16 luxury triplex apartments with private rooftop pools and gardens, was officially up for sale in early 2010. So far, only 10 units have been sold.
It is developed by Tennessee, a joint venture project between Shing Kwan and BBR Holdings.
Marketing agent of the development Savills said the six unsold units are made up of three penthouses and two townhouses - sized between 3,218 and 4,338 square feet each - as well as a corner townhouse of 5,759 sq ft.
"The developer had planned to keep the units as an investment property for recurring rental income. However, in recent weeks, they have received unsolicited interests to acquire the units," said Steven Ming, Savills' deputy managing director and head of investment sales.
The six apartments have an average guide price of between $2,400 and $2,450 per square foot (psf), or between $58 million and $59 million for all the units.
The average sale price of the 10 units sold was about $3,060 psf, with the highest at $3,316 psf. The last sale done in April 2012 worked out to about $2,719 psf.
Savills estimates there are about 320 units of freehold non-landed residence currently with a Nassim address that are not wholly held by a single landlord for lease only.
It does not expect more new schemes in the Nassim area for the "foreseeable future", save for the 65 units that may come from two future developments.
"We do not think that any supply growth of physical residential units in the prime areas can match up to a potential uplift in demand that can be underpinned by population growth over the medium to long term," said Mr Ming.
The development is located near Botanic Gardens and Orchard Road. It is also near the upcoming Napier and Orchard Boulevard MRT stations.
The sale by expressions of interest will close on May 8 at 4 pm.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
another record low psf for a standard sized unit at Grange Inifinite but no matching caveat:
2013-03-27 #13-03 2368 sq ft 2200psf $5,209,600
any takers?
ALL NEW SALES STACK 03, 2551 sq ft:
#12-03 3131psf 2011-05-11
#11-03 3092psf 2012-10-25
#09-03 3077psf 2012-11-06
#10-03 3076psf 2011-05-13
#07-03 2995psf 2011-08-12
#05-03 2968psf 2011-10-12
#03-03 2883psf 2011-06-23
JUST SOLD
#13-03 2783psf 2013-04-01
should be around 12% discount.
St Thomas Suites 2013 sq ft
#21-02
Sold 2013-03-27 1938psf
Seller bought in 09
Bought 2009-11-12 1894psf and sold without covering stamp duty.
as bro hopeful mentioned, can't tell if its ARA Dragon fund defaulted and developer re-selling or its ARA firesale:
#23-01 2594 sq ft
Sold 2013-03-27 2313psf
Bought 2007-09-25 3201psf
net loss around 2.6m
#23-02 2702 sq ft
Sold 2013-03-26 2360psf
Bought 2007-09-25 3201psf
net loss also around 2.6m
Originally Posted by bargain hunter
Hi Bargainhunter
Thanks for the update every now and then. It has been helpful in assessing the market trend ....but of course those properties in in high end range... But still, it gave us some indication where market is heading.
However, I notice those below $3m are still doing fine, probably most sellers have holding power due to low interest rates....
It seems rental going down trend - someone I know who has a unit in Cosmo, vacant for 6 months, now lower rental by 15% recently, still no takers... Can anyone confirm how is the rental doing?
i think < 3m is fine becoz the absolute $ of cash to be forked out for the lower ltv, stamp duty etc is still alright. but once it crosses 3m, that's where psychological barriers start to come in. not cannot afford but unwilling to part with cash and lower leverage + lower rental yield.
Originally Posted by Werther
Yes, would be interesting to understand how the rental mkt is doing.
I have a feeling it's a bit weak in the CCR for decent sized units. I managed to get a 13% increase in rental for my unit (1033 sq ft) just renewed. That said, I also know of a unit in another development which could fetch around $7400 half a year ago, but the landlord is now settling for $6900.
Originally Posted by Werther
CCR is weak now but RCR is good. My RCR 1+1 678 sq ft just renewed at 4.4k from 4k. MRT 3 mins away only, above 30th floor.
Originally Posted by starrynight
all the CEOs COOs CFOs in china and Hong Kong instead?
two tier down in Sg budget only 4k+?
Ride at your own risk !!!