Oceanfront
Sold 1 SEP 2014 289 OCEAN DRIVE #12-12 2,077sq ft 1,925psf
Bought 16 AUG 2010 2,262psf
Sold 8 AUG 2014 293 OCEAN DRIVE #02-17 1,711 1,578
Bought 20 SEP 2010 1,753
Oceanfront
Sold 1 SEP 2014 289 OCEAN DRIVE #12-12 2,077sq ft 1,925psf
Bought 16 AUG 2010 2,262psf
Sold 8 AUG 2014 293 OCEAN DRIVE #02-17 1,711 1,578
Bought 20 SEP 2010 1,753
An example of how discounts have remained minimal for $2m properties:
Sommerville Park
4 JUL 2013 75 FARRER DRIVE #15-05 RESALE 1,302 STRATA 1,667 2,171,000 PRIVATE (highest psf achieved for a 1,302 sq ft 3-bedder)
latest transactions:
3 SEP 2014 75 FARRER DRIVE #14-05 RESALE 1,302 STRATA 1,582 2,060,000 PRIVATE
3 SEP 2014 75 FARRER DRIVE #10-05 RESALE 1,302 STRATA 1,497 1,950,000 HDB
even taking the 1.95m transaction, discount off the peak is 10.2%
thanks BH. this remains one of the best threads in this forum
Cairnhill Crest
Sold 10 SEP 2014 2 CAIRNHILL CIRCLE #17-03 1,733sq ft 1,978psf
Bought 24 JUL 2006 2,083psf
martin place
if this is not de-coupling, then the seller must pay SSD until mad?
Sold 11 SEP 2014 2 MARTIN PLACE #13-04 646sq ft 2,059psf
Bought 2 APR 2013 2,335psf
Cairnhill Residences
Sold 29 AUG 2014 31 CAIRNHILL CIRCLE #08-03 1,238sq ft 2,100psf
Bought 6 MAY 2010 2,569psf
seller had set the all time high for this project when he bought it in 2010.
actually, with big quantum 3/4 bedders having gone through some sort of correction phase, the next to come under pressure could be "big" quantum/size studios/1 bedders. the only good thing seems to be that in comparison to OCR MM units, the supply is more limited. when the TOP party starts for OCR MM units, that's when the focus on mortgagee sales will shift to them.
Agree the next bubble is in MM/1 bedder. I went to see some tanjong pagar shoeboxes recently, all empty waiting for tenants. Unfortunately the views from these units are all blocked and the feel is very congested just like hong kong. I'm sure not many people will want to live there when there are other bigger and better choices elsewhere in CCR for not much more money.
The Grange
Sold 12 SEP 2014 1 GRANGE GARDEN #12-05 2,282sq ft 2,139psf
Bought 25 FEB 2010 2,498psf
future mrt at doorstep. too bad the seller overpaid in 2010 and 7 years of construction likely to affect rental.
Tanglin Hill Condo
Sold 29 AUG 2014 15 TANGLIN RISE 3,315sq ft 1,433psf
Bought 5 APR 2010 1,599psf
good psf value but rental yield prob not high.
http://www.propertyguru.com.sg/listi...lin-hill-condo
asked for 5.7m for the longest time. buyers, please daringly bargain. asking price may be above market value, thus, do homework. the buyer set a record for a unit for this size at 1599psf when he bought it in 2010. the sale price is a mere 10% discount off that record.
Not sure if this is the uppers mai, hence, not much interest. But I think at this price level, quite safe to buy and keep. Maybe can wait for enbloc. Possible?
Bargain hunter, thanks again for the update.
its lower for sure. if its upper, it has the letter a behind it, ie 15A. also, upper mai has smaller sq ft area at 29xx sq ft vs lower mai which has > 3000 sq ft in area. nonetheless, this is still a duplex, nowadays, the trend is, even if all useful area, for same sq ft, duplex deserves a lower psf than a single level of the same floor area.
Lelong coming... buyers get ready.... Far East chu referral pattern liao!
Short all property counters!
some other observations:
wallets are opening in the 3 to 6m range as some units were sold at a discount to peak:
One Tree Hill Resi
15 SEP 2014 1A ONE TREE HILL #14-01 RESALE 2,454 STRATA 1,630 4,000,000 PRIVATE
vs
2 FEB 2010 1A ONE TREE HILL #16-01 RESALE 2,454 STRATA 1,838 4,510,452 PRIVATE (peak for this size for this project)
discount o 11.3%
Draycott Eight
15 SEP 2014 10 DRAYCOTT PARK #11-08 RESALE 2,863 STRATA 2,026 5,800,000 PRIVATE
vs
28 MAY 2007 10 DRAYCOTT PARK #13-08 RESALE 2,863 STRATA 2,689 7,700,000 PRIVATE (-24.6%)
25 JAN 2010 10 DRAYCOTT PARK #07-08 RESALE 2,863 STRATA 2,515 7,200,000 PRIVATE (-19.4%)
Some possible reasons I feel for this:
1) the draycott, ardmore area were super hyped up in 2007, running like no tomorrow. post 2009, they really struggled and never got close to 2007 peaks.
2) huge supply of similar type of units nearby and unsold.
3) while traditionally a nice residential enclave, for some reason, it seems to have lost its attractiveness.
4) TENURE
99 YRS FROM 1997
DISTRICT / PLANNING AREA
D10 / NEWTON
COMPLETION
2005 (the big killer for this project)
can anyone enlighten me (for leedon residences new sale):
12 SEP 2014 2 LEEDON HEIGHTS #06-02 NEW SALE 2,131 STRATA 2,534 5,400,000 PRIVATE
27 AUG 2014 24 LEEDON HEIGHTS #02-34 NEW SALE 2,131 STRATA 1,921 4,093,200 PRIVATE
why the >24% difference? is facing worth that much difference?
bro solsys was saying short property counters in the stock market. i was saying, these counters have already fallen and partly discounted that poorer sentiment currently, if gahmen announces removal of CM, the property counters will take everyone by surprise and rebound.
Removal of CM will come just before GE.
Why? Prices fallen so typical Singaporeans will be happy, while those vested and losing money in asset value will cheer coz they know market will pick up.....
Win both sides of the votes...
Buy at end of 2015 when it hurts the most....
Properties of majority voters would have been moderated when next election comes. What do you think of the impact on election results?
It is becoming clearer and clearer that property market will drop more than 20% by end of 2016 and hence considered CRASHED (unless CMs have been relaxed).
If the falling price situation like now persisted, what will be the consequences on the GE results? It will be interesting to know because many people are saying people want lower property prices, so a property price drop of 20% or more let's see whether most people want or not and will still vote them?