A few CCR transactions sold at a loss (reported in The Edge)

[bargain hunter]

marina collection

DTZ has put up #03-03 4br 2185 sq ft for mortgagee sale.

buyer bought on 2011-12-21 at 2800psf $6.118m.

minus seller's stamp duty, bank may not be willing to sell low.

[bargain hunter]

sold oct 13 u mean. didn't cover stamp duty.

2 ARDMORE PARK

Bought Jul 07 $2916psf
Sold Oct 12 $2,950psf

[bargain hunter]

http://www.propertyguru.com.sg/listi...or-sale-urbana

#33-04 bought on 7 aug 2007.

2314 sq ft

2399psf

$5.5512m

Please help. 13k rental cannot tahan already. asking $4.859m nego.

[Ringo33]

sold oct 13 u mean. didn't cover stamp duty.

Yes Oct 13

[hopeful]

http://www.propertyguru.com.sg/listi...or-sale-urbana

#33-04 bought on 7 aug 2007.

2314 sq ft

2399psf

$5.5512m

Please help. 13k rental cannot tahan already. asking $4.859m nego.

Wah, at 13k need to top up the mortgage. Instalment somemore.
Lose 60% of his 20% dp. Ouch

[relax88]

wah. must earn how much salary to get loan approval

[bargain hunter]

surprising loss from the sail despite seemingly high psf

#14-05 883 sq ft

Bought 20 Aug 2007 2851psf
Sold 14 Oct 2013 2830psf

[bargain hunter]

Marina Bay Residences

#51-01 4489 sq ft

Bought 15 June 2007 3600psf
Sold 16 Oct 2013 3092psf

[bargain hunter]

its the cheapest such unit ever at MBR

as reference, original prices (bought from developer in 2006) for similar 5 bedders on the same stack:

#52-01 3199psf
#51-01 3159psf
#50-01 3252psf
#49-01 3312psf
#48-01 3238psf

all above $14m quantum before this latest caveat at $13.88m.

Marina Bay Residences

#51-01 4489 sq ft

Bought 15 June 2007 3600psf
Sold 16 Oct 2013 3092psf

[onglai]

Marina Bay Residences

#51-01 4489 sq ft

Bought 15 June 2007 3600psf
Sold 16 Oct 2013 3092psf

walan lose 2mil like dat!

[Ringo33]

Marina Bay Residences

#51-01 4489 sq ft

Bought 15 June 2007 3600psf
Sold 16 Oct 2013 3092psf

this one big haircut.

[bargain hunter]

dun forget, gahmen took 480k from the stamp duty from the current seller when he bought.

if agent earned 1% commission for the sale, loss is 2.9m. if 2%, swee swee lose 3m.

walan lose 2mil like dat!

[hopeful]

dun forget, gahmen took 480k from the stamp duty from the current seller when he bought.

if agent earned 1% commission for the sale, loss is 2.9m. if 2%, swee swee lose 3m.

if his dp is 20%, should he have sold? when he sell, almost all the dp would be wipe out. instead of just paper loss, now confirmed loss. is it worth it to sacrifice almost all the dp just to recover that 6% money left, a 70% loss on his initial dp?

if fully paid 100%, different story, sell now can still recover 86%.

[stalingrad]

Marina Bay Residences

#51-01 4489 sq ft

Bought 15 June 2007 3600psf
Sold 16 Oct 2013 3092psf

Lost a cool $2.25 mil. But could it be a sale from a father to a son?

[thomastansb]

Those who buy 2007, especially big units, they will have a hard time selling off.

surprising loss from the sail despite seemingly high psf

#14-05 883 sq ft

Bought 20 Aug 2007 2851psf
Sold 14 Oct 2013 2830psf

[chestnut]

Those who buy 2007, especially big units, they will have a hard time selling off.

OCR and RCR no leh.... This 2 were the laggard....

[stalingrad]

Those who buy 2007, especially big units, they will have a hard time selling off.

102 units for sale at Duchess residences.

[thomastansb]

Ya, I was referring mainly for CCR.

Actually, 76 Shenton also quite jia lat. 7 subsales so far. 6 lost money.

Out of these 6, 2 of them probably lose 100k since sale price < purchase price. The remaining 4 barely any gain (like 1%) which won't cover the fees involved. Probably 60 to 80k loss depending whether the bank got charge 1.5% penalty.

OCR and RCR no leh.... This 2 were the laggard....

[ekl2ekl2]

Ya, I was referring mainly for CCR.

Actually, 76 Shenton also quite jia lat. 7 subsales so far. 6 lost money.

Out of these 6, 2 of them probably lose 100k since sale price < purchase price. The remaining 4 barely any gain (like 1%) which won't cover the fees involved. Probably 60 to 80k loss depending whether the bank got charge 1.5% penalty.

Find 76 Shention case puzzling. Launched 3 years ago (not at 2007 peak), small units, small quantum, sold out within a day and if 6 subsale units really lost money at around 2000pfs, then something is not quite right. The issues one can think of is that it is just next to the expressway and it is furthest among the group of condos from MRT and main eating places.

[amk]

... small units, small quantum, sold out within a day and if 6 subsale units really lost money at around 2000pfs, then something is not quite right...

it simply means herd mentality is not necessarily right.
Speaking of one day sell out case , recently another one isn't it ?

... Although to be fair, the market today is not normal.

[newbie11]

If 1.9k, more value than echelon, trilinq or j gateway ?

[Patrickstar]

Why do they need to sell at a loss in a subsale when the market has been going up? They could at least have waited till TOP. This one beats me.

Ya, I was referring mainly for CCR.

Actually, 76 Shenton also quite jia lat. 7 subsales so far. 6 lost money.

Out of these 6, 2 of them probably lose 100k since sale price < purchase price. The remaining 4 barely any gain (like 1%) which won't cover the fees involved. Probably 60 to 80k loss depending whether the bank got charge 1.5% penalty.

[thomastansb]

When you buy at > 1.2M for a studio, and you see surrounding studio dropping to 3k+, your balls will shrink.

Why do they need to sell at a loss in a subsale when the market has been going up? They could at least have waited till TOP. This one beats me.

[walkthetiger]

When you buy at > 1.2M for a studio, and you see surrounding studio dropping to 3k+, your balls will shrink.

Surely have to be careful when investing here, as gov can turn thing around, another risk factor. The so-called season investors who are suffering from this so called "balls shrink" impact, may have miscalculated a little after all.

[bargain hunter]

ARDMORE II

#23-04 2024 sq ft
Bought 24 Jul 2007 2916psf
Sold 10 Oct 2013 2950psf

couldn't cover stamp duty after 6 long years.

[bargain hunter]

in response to impending DUO launch, i saw last sat's newspaper advertised for pool facing from $975k for V on Shenton. Anyone went to take a look?

[august]

An agent tells me some of these transactions in CCR are decoupling cases.

[stalingrad]

An agent tells me some of these transactions in CCR are decoupling cases.

What are decoupling cases?

outliers?

[onglai]

What are decoupling cases?

outliers?

I think it means eg the husband sell his share of the house to the wife so that he can buy the next unit as a first timer n no need to pay absd. (Provided the couple don't own other property).

[newbie11]

Also provided wife income can suppt entire loan and has cash to show to execute transaction. If true, it show that many r holding onto one. And preparing to buy.