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

[Amber Woods]

I think KepLand being 100% owned by KepCorp does not make it a local owned company since KeCorp is still a listed company which has foreigners as shareholders. KepLand is taken private under KepCorp is for other reasons.

[amk]

becoming like a trend starting from Simon Cheong.. is this for the same reason?

no dun think so. kep corp still public listed so no point.
it's more like the new CEO of Keppel wants to consolidate and streamline the balance sheet. now O&G in crisis, probably it needs a better position to manage the group.

[bargain hunter]

but those will still have a good many years to go including the 2 years after TOP?

also, amber woods is right, keppel land will not be 100% singapore owned post privatisation since keppel corp is listed.

They also have Highline residences and The Glades.

[bargain hunter]

Some highlights from the auction today:

#22-01 Twin Regency 1776 sq ft 4 bd

Asking 2.75m. Counter offer 2.3m. withdrawn as below reserve price

#01-06 Ville Royale 1389 sq ft 3bd

Asking 1.8m. Sold at 1.83m. (A note for bro smellyfish, 3 bd 1389 sq ft (close to 1400 sq ft and apparently no PES area) its possible to get below 2m, FH, if u don't mind older and smaller development)

#11-11 One Shenton 926 sq ft 1+1bd

Bought in 2 JAN 2008 1 SHENTON WAY #11-11 926sq ft 2,069psf $1,915,000

not a mortgagee sale but opening asking bid was $1.6m, seller is attempting to cut loss at the auction. received a counter offer of $1.5m which was below reserved price but the people at jones lang laselle will attempt to close the gap and close the deal in between i suppose. a 20% loss would lead to a selling price of 1.53m. stated that currently tenanted at 5.1k but not sure till when.

the much awaited unit at The Grange was postponed to the feb auction, not sure what is the reason for it.

[stalingrad]

The sky is falling in CCR, said the Chicken Little, and I will tell the King. Ha, this is exactly what I predicted when I lived in Singapore. Safely ensconced in Canada, I will just watch the drama unfolding with a pitcher of beer and a tub of popcorn. Beats watching Superbowl.

[bargain hunter]

The Solitaire, trying to breakeven

http://www.propertyguru.com.sg/listi...-holland-condo

his purchase price:
25 APR 2007 5A BALMORAL PARK #03-03 1,561sq ft 1,835psf $2,864,260

happy bargaining!

[smellyfish]

Asking 1.8m. Sold at 1.83m. (A note for bro smellyfish, 3 bd 1389 sq ft (close to 1400 sq ft and apparently no PES area) its possible to get below 2m, FH, if u don't mind older and smaller development)

thanks for the heads up. quite a bargain indeed...
is the balmoral area generally a bit of a laggard? what an ex-forummer would call the wrong side of CCR?

[bargain hunter]

balmoral area includes ewe boon road area?

its supposedly prestigious/esp. those units facing goodwood hill etc. for the other "cheaper" units, if u r hinting at that, not easy walking distance to mrt may be a reason for the lower prices. boutique developments with small land size tend to transact at a discount (quite a big discount). during the 2007 boom, many pple forgot about that.

thanks for the heads up. quite a bargain indeed...
is the balmoral area generally a bit of a laggard? what an ex-forummer would call the wrong side of CCR?

[bargain hunter]

St Thomas Suites

Sold 19 JAN 2015 33 ST. THOMAS WALK #14-06 2,605sq ft 1,958psf
Bought 8 JUN 2007 1,890psf

3.6% gain only. Quantum and psf better than recent standard units though despite being similar floor.

[bargain hunter]

now for the big one. new psf low for St Regis:

Sold 17 JAN 2015 33 TANGLIN ROAD #22-09 4,941sq ft 1,923psf
Bought 17 OCT 2006 2,890psf

net loss close to around 5.3m

[bargain hunter]

following the 2 Turquoise fire sales last year, a higher floor unit has also been firesold:

Sold 19 JAN 2015 55 COVE DRIVE #05-09 2,777sq ft 1,638psf
Bought 15 NOV 2007 2,616psf

however, do note that the current price is 17.3% above the 2014 price for #03-09 (1398psf)

[bargain hunter]

The Clift

Sold 2 JAN 2015 21 MCCALLUM STREET #32-01 1,076sq ft 1,765psf
Bought 26 JUN 2012 2,662psf

[Maxim1]

19 Jan 2015 The Metz 1023 sqft, 2243 psf, $2,300,000.

This is a big drop compared to one earlier last year at $2.45m. I think the reason is that this 1023 sqft stack has the worst view now as its blocked by the new Devonshire Residences.

[bargain hunter]

Sold 19 JAN 2015 83 DEVONSHIRE ROAD #18-07 1,023sq ft 2,249psf
Bought 3 AUG 2005 1,249psf

fat profit for the seller, hence, don't think he minds selling 150k less.

but put in perspective, the record for this stack, #23-07 was hit in 2007 oct, 2501psf, 2.5575m.

current price is exactly 10% off that price, in CCR terms, we can't really call that "big drop".

[Maxim1]

Sold 19 JAN 2015 83 DEVONSHIRE ROAD #18-07 1,023sq ft 2,249psf
Bought 3 AUG 2005 1,249psf

fat profit for the seller, hence, don't think he minds selling 150k less.

but put in perspective, the record for this stack, #23-07 was hit in 2007 oct, 2501psf, 2.5575m.

current price is exactly 10% off that price, in CCR terms, we can't really call that "big drop".

True, at this price level (low $2+m) still easy to find buyers in this area once you give small discount. Certainly a steal compared to the numerous 800-900 sqft at new launch Boutiq nearby transacted at $2+m. I feel the "discount" is mainly due to the blocked view because other stacks are still asking 2.6-2.7 which is about the usual price.

[bargain hunter]

boutiq as the name implies is a boutique project hahahahahaha. to me, that alone deserves a discount.

True, at this price level (low $2+m) still easy to find buyers in this area once you give small discount. Certainly a steal compared to the numerous 800-900 sqft at new launch Boutiq nearby transacted at $2+m. I feel the "discount" is mainly due to the blocked view because other stacks are still asking 2.6-2.7 which is about the usual price.

[Maxim1]

boutiq as the name implies is a boutique project hahahahahaha. to me, that alone deserves a discount.

Ok, if Boutiq is 2-2.1m for 900 sq ft, then what do you think One Devonshire 900 sqft with full facilities should be?

[bargain hunter]

its cheap if u can get it for 2m for one devonshire. however, there r very few 2 bedders in one devonshire, let alone for sale at a cheap price.

the last caveat is for a 4 bedder 1496 sq ft at 2072psf. given the size of the 2 bedders, expect higher psf.

peak was only 2.2m 2405psf. so 2m is likewise a mere 10% discount or so.

boutiq overpriced at 2m does not mean one devonshire must cost more. this market is about getting superior units at same or lower price than these overpriced units. buyers are probably attracted to boutiq becoz it is brand new and perhaps better finishing and add in the gimmicky water features to add "class" (and maintenance cost) to it.

9 DEC 2011 1 DEVONSHIRE ROAD #15-04 SUB SALE 915 STRATA 2,405 2,200,000 PRIVATE

Ok, if Boutiq is 2-2.1m for 900 sq ft, then what do you think One Devonshire 900 sqft with full facilities should be?

[Werther]

its cheap if u can get it for 2m for one devonshire. however, there r very few 2 bedders in one devonshire, let alone for sale at a cheap price.

the last caveat is for a 4 bedder 1496 sq ft at 2072psf. given the size of the 2 bedders, expect higher psf.

peak was only 2.2m 2405psf. so 2m is likewise a mere 10% discount or so.

boutiq overpriced at 2m does not mean one devonshire must cost more. this market is about getting superior units at same or lower price than these overpriced units. buyers are probably attracted to boutiq becoz it is brand new and perhaps better finishing and add in the gimmicky water features to add "class" (and maintenance cost) to it.

9 DEC 2011 1 DEVONSHIRE ROAD #15-04 SUB SALE 915 STRATA 2,405 2,200,000 PRIVATE

I was told rental recently transacted for $4k. Bad investment.

[bargain hunter]

really? 2 bedder at one devonshire tenanted for only 4k? any reason why altez 1 bedders can be tenanted for 4k+ then?

if its 4.9k, i can still accept it, 4k, owner too ganjiong liao lah.

nov 2014 transaction still showed 6.2k leh.

I was told rental recently transacted for $4k. Bad investment.

[bargain hunter]

or u r referring to boutiq's 2 bedders. can see the ads for smaller 2 bedders asking 4k.

[teddybear]

Why so cheap? What's the catch?

or u r referring to boutiq's 2 bedders. can see the ads for smaller 2 bedders asking 4k.

[Singleton]

Why so cheap? What's the catch?

Not just in D9,

in D11 buying price very big 2 bedders around 2.3m, asking rental around 3.8k

http://www.propertyguru.com.sg/listi...e-glyndebourne

[teddybear]

glyndebourne?

That one sure lousy rental lah, heard usable area much smaller than specified size.

Also, beside the noisy flyover, not near MRT and shopping mall........

The road in front always jammed badly........

Not just in D9,

in D11 buying price very big 2 bedders around 2.3m, asking rental around 3.8k

http://www.propertyguru.com.sg/listi...e-glyndebourne

[august]

Not just in D9,

in D11 buying price very big 2 bedders around 2.3m, asking rental around 3.8k

http://www.propertyguru.com.sg/listi...e-glyndebourne

Ha ha, of all the 2 bedder rental ads on guru you pick the lowest? Why not pick the one asking $7.5k? Overall I see the asking at above $4k to 5k.
Btw this kind of one-off ad with low asking is usually not a genuine listing. Agent use this to fish for tenants. You can try calling and likely agent will tell you it is taken.

[stalingrad]

glyndebourne?

That one sure lousy rental lah, heard usable area much smaller than specified size.

Also, beside the noisy flyover, not near MRT and shopping mall........

The road in front always jammed badly........

This condo rings a bell because the name is so pretentious in a land of mandarin speaking people (verdure too). We wanted a unit there, because it was so close to our favorite haunt, the botanic garden. But it was just on the major road, and hence very noisy. I guess CCR is really going downhill. Even a condo near the botanic garden has become "nobody wants". The rental yield is below 2% and the owners are willing to leave their units unoccupied rather than renting them out.

[Werther]

or u r referring to boutiq's 2 bedders. can see the ads for smaller 2 bedders asking 4k.

Sorry, I was referring to the boutiq development.

[teddybear]

That is considered bad?
Sound like sour grape to me............

and by the way, that condo glyndeborne (or whatever) quite far from Botanic Garden lah! You must have made a mistake, anyhow cop just to talk bad about CCR?

Oh by the way, your Crapelle price also dropping lah, JLD so what hah? You also can't benefit

This condo rings a bell because the name is so pretentious in a land of mandarin speaking people (verdure too). We wanted a unit there, because it was so close to our favorite haunt, the botanic garden. But it was just on the major road, and hence very noisy. I guess CCR is really going downhill. Even a condo near the botanic garden has become "nobody wants". The rental yield is below 2% and the owners are willing to leave their units unoccupied rather than renting them out.

[stalingrad]

That is considered bad?
Sound like sour grape to me............

and by the way, that condo glyndeborne (or whatever) quite far from Botanic Garden lah! You must have made a mistake, anyhow cop just to talk bad about CCR?

Oh by the way, your Crapelle price also dropping lah, JLD so what hah? You also can't benefit

Teddy, did I make a mistake? The glyndeborne is on Dunearn road and the botanic garden is just two steps away.

[Singleton]

Ha ha, of all the 2 bedder rental ads on guru you pick the lowest? Why not pick the one asking $7.5k? Overall I see the asking at above $4k to 5k.
Btw this kind of one-off ad with low asking is usually not a genuine listing. Agent use this to fish for tenants. You can try calling and likely agent will tell you it is taken.

its the current market price, been there to view condo.

the layout and space are good, thats why puzzled

go check URA data

latest 3 transactions for the big 2 roomers (1055sfeet) done at 3.8k, 3.8k and 4k

and for current listings, the low prices still negotiable, go view and negotiate

TOP last march, some looking for first tenant