Originally Posted by Singleton
Like that quite jialat.. Yield so low. But lucky most buyers are probably staying nearby, old rich, most probably the property already paid up, so low rental not much issue.
Newbie
Like that quite jialat.. Yield so low. But lucky most buyers are probably staying nearby, old rich, most probably the property already paid up, so low rental not much issue.
Senior
1) there has and will continue to be an increase in 1 and 2 bedders completed in CCR and other areas.
2) as rents drop, perhaps expats looking for 1 and 2 bedders would tend to gravitate towards D9/CBD rather than D11? this, i'm not sure, just speculating. as these are probaly singles/couples who prefer to be closer to town than be near a stevens road mrt interchange construction?
Junior
that's because it's facing the road, very noisy. this number is abt right. e.g see Equatorial, 2bd also around the same price.
that section of dunearn rd is notorious for jams twice a day because of the schools. even with the stevens MRT ready you still need to cross the road.
This project was the last done before CM started.
(and stalingrad you "wanted" to buy one ? did the agent give you better "treatment" compared to duchess residences? This one even more pretentious, go show flat must pay one.)
(and btw why you want to buy ? thought you detest anything CCR ? )
Last edited by amk; 02-02-15 at 12:21.
Junior
D11 is so big.. I think Newton/Novena side still very much in demand. bottom line is still convenience and near town. Further down along Dunearn rd is quite inconvenient already.
D10 also big. Bt Timah etc are big units for families. Seen so many of them.
Yes I would also say, as rent drop, singles/couples will definitely live near town, 9/10/11 or otherwise. 4-5k range is gd.
Newbie
why should anyone be surprised that rental yield for large swathe of bukit timah, district 10 and 11 will generally be low? these were never your buy to let areas to begin with. i will buy a CCR in a leafy estate for own stay and my kids schooling, that's about it. For renting and investing in small apts, i am focused on where the migrant workers would want to be, not where i would want to be.
Newbie
Your guess is probably right though the group is quite diverse, so some would prefer D11 while others D9/CBD.
Rents dropping actually quite attractive to stay in CCR since rental bargains are good
Newbie
agree with you, those units facing the road are quite noisy, but big 2 bedder in a brand new condo near orchard at 3.8k is really cheap compared to some smaller 2 bedders at Novena going for 5k plus.
Global recession is coming....
If the noise is very bad (because of the fly-over and very wide and busy 3 or 4 lane road in front), can you sleep well?
If you can't sleep well, you can't perform well.
Save some money to see career and health go down the drain, is it worth it?
Senior
especially given the current market situation where there are plenty of choices for 1 and 2 bedders, glyndebourne 2 bedders definitely not top of the priority list. as we already know, many 1 bedders at altez have been rented out at 4k or more. why didn't they choose a nice 2 bedder at glyndebourne instead?
Newbie
Is it because Altez has top of the world feeling, more "Atas"more "Hip"
such that it does not appear to be affected by the soft rental market?
Junior
Think location does matter imo. 4k altez vs 4k glyndebourne for single expats, staying at altez will be a preferred choice. Unless it is a family or couples then they might consider compromising the location for bigger space. Otherwise work in CBD, stay at bukit timah really will get tai everyday by the traffic and time wasted going to office. Besides tanjong pagar area has more happening amenities and eating places that makes it a better choice for stay
Senior
its more of the package i think? good location (if these pple really like to stay near office) nice sky garden on the 68th floor or something?
Is it because Altez has top of the world feeling, more "Atas"
such that it does not appear to be affected by the soft rental market?
Newbie
should indicate the size and location, the contrast is more stark
4k (527sfeet new TOP Altez, 200plus units 60 storey 3 min drive to marina) vs 4k (1055sfeet new TOP Glyndebourne, exclusive 150units in 185k sft land aream 3min drive to orchard)
Suppose what we learn is that even in a very depressed rental market, condos with all the right elements will be relatively immune as there are still enough tenants who are willing to pay good money for these.
Junior
Unlike in the past, few expats today drive or have the budget to. Proximity to work place, MRT and amenities becomes crucial. Glyndeburne may lose out before the Downtown line goes online.
Senior
St Regis (again)
Sold 23 JAN 2015 33 TANGLIN ROAD #20-05 3,897sq ft 2,002psf
Bought 19 JUN 2006 2,872psf
estimated loss around $3.8m
Global recession is coming....
I believe is more of location and amenities for Altez lah:
1) Walking distance to shopping and food outlets and amenities
2) Walking distance to MRT
Glynderbourne has both none of the above
Senior
Scotts Highpark
Sold 26 JAN 2015 43 SCOTTS ROAD #11-01 1,141sq ft 1,841psf
Bought 3 MAY 2007 2,015psf
Senior
Urban Suites
Sold 26 JAN 2015 3 HULLET ROAD #13-04 1,044sq ft 2,758psf
Bought 26 JAN 2010 2,738psf
couldn't cover stamp duty
Senior
Residences @ Evelyn
Sold 30 JAN 2015 15 EVELYN ROAD #22-03 2,250sq ft 1,734psf
Bought 10 JUL 2007 1,911psf
http://www.propertyguru.com.sg/listi...idences-evelyn
Senior
buying activity of big units spotted picking up after price cuts: an e.g. of a price cut in D1:
Marina Bay Suites
29 JAN 2015 3 CENTRAL BOULEVARD #48-02 RESALE 2,067sq ft STRATA 2,153psf $4,450,000 PRIVATE
at the peak:
16 NOV 2012 3 CENTRAL BOULEVARD #47-02 NEW SALE 2,056sq ft STRATA 2,890psf $5,940,800 PRIVATE
25% discount
2009 launch price:
15 DEC 2009 3 CENTRAL BOULEVARD #45-02 NEW SALE 2,056sq ft STRATA 2,428psf $4,992,000 PRIVATE
11.3% off.
Senior
28 JAN 2015 11 PAVILION 11 23 AKYAB ROAD #31-03 CONDOMINIUM FREEHOLD 4,219sq ft STRATA 1,180psf $4,980,000
saw the advert for 3 or 4 years, from 6m+ cut till 5m+, finally sold.
http://www.propertyguru.com.sg/listi...le-pavilion-11 before they take this advert down.
Senior
bro smelly fish, didn't spot any bargains for around 1400 sq ft 3 bedder, prices not dropping:
for jan, for the major developments, 1 unit in park infinia 2.85m, 2 units at cuscaden residences 3m and 3.15m, hallmark, 2.82m, cosmopolitan 2.658m, 1399 sq ft unit at trillium (2+study nia) went for 2.798m, nomu 3.38m
even cairnhill residences 1238 sq ft 2.75m. someone even bought a low floor unit of 1281 sq ft unit the regency @ tiong bahru for 2.1m.
for 99 year leaseholds, 8@ mount sophia 2.42m and a 1539 sq ft unit at sophia hills went for 3m?!?!?!
the closest is for smaller and older development, The Horizon: 2.32m for a 3+study of 1561 sq ft. and the ville royale sold at the auction one which i mentioned earlier.
Newbie
Hi BH,
It seems that you are right. There is still depth in the CCR market. I observed that it is really picking picking up, especially from mid Jan to now. Some of the newer caveats are not lodged yet. I have been eyeing the PH at P11 as well but my target price was around $4.5M-$4.6M, after factoring ABSD. It seems like the buyer is more bullish than me.
Newbie
I really wonder if the seller for NOMU is none other than our beloved BJ21. It seems that he/she has disappeared after that sale was made.
Senior
coincidentally, The Edge magazine's headline for last weekend was "Is CCR melting down?" seems like quite a contrarian indicator this time.
do u know of any reason to explain the return of buyers? since jan, media has been trumpeting rate increases, rental drops and empty units (again, The Edge's previous week's headline was "Nobody's home". they even went to count the lights.)
4.5m? now u can relook that mortgagee sale unit at The Grange, which for dunno what reason, had been postponed from jan to feb auction.
Senior
he did really well trumpeting sophia hills.
Senior
some interesting news from an article which will not show up in caveats:
the full article:
http://forums.condosingapore.com/sho...l=1#post501190
perhaps buyers are returning after seeing blackstone supporting the market at 2000psf.
Bloc of 16 units at 111 Emerald Hill sold for about S$75m via sale of shares
Industry watchers note that the S$1,700-range psf pricing for the recent sale reflects the decline in luxury condos price as well as a discount for the bulk transaction.
Moreover, the 16 units that changed hands include the project's four penthouses, which have roof terrace areas, and this would also have diluted the psf price.
The sale of the 16 units at 111 Emerald Hill is said to have been brokered by Savills, which last year also arranged the sale of 17 units at Paterson Suites for S$2,100 psf or close to S$80 million by a fund in the Real Estate Capital Asia Partners (Recap) series managed by SC Capital Partners. The buyer was Blackstone, which in late-2014 also did an en bloc purchase of 21 Anderson Royal Oak Residence, a 10-storey property with 34 units. The price was S$164 million, or S$1,917 psf. JLL brokered that deal. Both projects are completed freehold developments.
All eyes now are on 23 units at the Draycott Eight condo owned by a German core fund managed by Morgan Stanley. CBRE and Savills have been appointed to find a buyer for the 22 four-bedders and a penthouse with a total strata area of 68,419 sq ft. Draycott Eight is on a site with a balance lease term of about 82 years. Based on market talk, the asking price is S$2,300 psf, which would amount to S$157.4 million.
Newbie
The interesting thing I find in this article is that it was transacted through selling of shares in the company. As such, no (Additional) buyer stamp duty required. Can now be rented out since totally owned by Singaporeans.
The question now is who are the buyers? Is it 1 rich man, many rich men or ... could these people be proxies? You know, like the recent bank-developer-property agent case that came to light.
Senior
for 111 emerald, its said in the article to be sold to a few singaporeans. the first thing i thought of also was could these people be proxies for foreigners?
but it is a really good way to siam the absd AND the QC restriction at the same time!
Newbie
I have been pondering about the reason as well. It could be due to recent news of funds/individuals in the bulk purchase deals. Some of them could be buying for own stay and have already transferred ownership of other properties, and thus is not paying any ABSD. I guess you would have bought as well if not for ABSD.coincidentally, The Edge magazine's headline for last weekend was "Is CCR melting down?" seems like quite a contrarian indicator this time.
do u know of any reason to explain the return of buyers? since jan, media has been trumpeting rate increases, rental drops and empty units (again, The Edge's previous week's headline was "Nobody's home". they even went to count the lights.
4.5m? now u can relook that mortgagee sale unit at The Grange, which for dunno what reason, had been postponed from jan to feb auction.
The bidding for the Grange unit will get very interesting. In light of the current market, it should fetch 1950 psf.
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