Newbie
Depending on whether you are comparing between their best stacks, but based on starting pfs for 1 roomers (441 vs 452 sfeet), you are right between 400-500pfs difference.Originally Posted by East Lover
Sorry I remember wrongly. 8RS 1-bedder above #22 is abt $700k, Echelon 1-bedder above #22 is abt 1mil. It's 300k more...
Which one will u choose?
P.s. I didn't vest any of them...
Newbie
Not easy to make comparisons unless you have clear objective parameters for comparison (such as distance to MRT, Malls, to city/toen and that also depend on which part of town etc).I went to Echelon yesterday. I asked one question to the agent: Raffles Place is no longer the center, more and more banks are moving to marina bay area, who are we renting to? He said it will only happen in 10-20 years time, by then you should already sell ur unit to other people....
He kept on emphasizing that the next door land sold much higher, so your purchase already made money. By the way, its $2k/psf for 1-bedder...
Then I asked him, 8RS 1-bedder $200k cheaper and no competitor from other condo, he said red hill and boon keen are different category
Like that also can??
The more personal factors such as proximity to workplace, schs and parents etc are harder to compare.
Both are close to orchard road (again depends on which part) and business districts. People buying echelon will say the condo is in a more Atas area since it is so close to GCB and embassies whereas Boon Keng is an old area with no such affiliations and close to the caskets etc.
One selling factor for Echelon is the unlaunched sites which will be selling at higher prices.
Now whether this should be worth 500pfs more than 8RS is a matter for debate as it is very relative. Some will say 8RS is cheap others will say Echelon is over priced. But most people will think that Echelon pricing (based on pfs) looks over the top.
Newbie
The gap in HDB price will probably close when those new ones in whampoa / boon keng fulfill MOP in a few years time and are available for resale. So, does that mean the gap in condo price will also close?
Recruit
If we strictly talk about dollar and cent, 8RS is more 'value for money' for investment.I went to Echelon yesterday. I asked one question to the agent: Raffles Place is no longer the center, more and more banks are moving to marina bay area, who are we renting to? He said it will only happen in 10-20 years time, by then you should already sell ur unit to other people....
He kept on emphasizing that the next door land sold much higher, so your purchase already made money. By the way, its $2k/psf for 1-bedder...
Then I asked him, 8RS 1-bedder $200k cheaper and no competitor from other condo, he said red hill and boon keen are different category
Like that also can??
BUT in property, sentiment and feel play an important part too, e.g. Echelon being just a street away from Tanglin makes buyers feel more atas.
It is also true that future development around Echelon is going to be at higher prices though I agree with you that it will have more competition.
Having said that, I feel that Echelon is overpriced, just that the developer has the advantage of timing, situation and location on their side to price it that way.
If for home stay, I think Redhill is still better.
P.S. I'm not vested in either too.
Recruit
Yes, for home stay is very much personal preference, no right or wrong.
Driving to Orchard from Redhill faster and less congestion.
MRT noise is a pain to the ears, if stay next to underground MRT would be best like Mera Prime or Bartley Residences, just to name a few.
Newbie
Its a better area personally and some don't mind paying $500psf more for echelon is their choice. Mrt track noise or not. No right or wrong. If I want that area I would pick a.sky.Yes, for home stay is very much personal preference, no right or wrong.
Driving to Orchard from Redhill faster and less congestion.
MRT noise is a pain to the ears, if stay next to underground MRT would be best like Mera Prime or Bartley Residences, just to name a few.
Last edited by hovivi; 04-01-13 at 22:57.
Junior
Well done! 99-yr LH project.. Big unit transacted at $1459psf
EIGHT RIVERSUITES WHAMPOA EAST Condominium $2,089,000 1,432 Strata 1,459psf Nov-12
Camper
Not surprising when far far away condos are selling above $1600 psf. What is D12 condos below $1500psf?
Yee ha! Did I tickle your funny bone?
Newbie
This particular unit is on level 25. So quite a reasonable price given its high floor.Well done! 99-yr LH project.. Big unit transacted at $1459psf
EIGHT RIVERSUITES WHAMPOA EAST Condominium $2,089,000 1,432 Strata 1,459psf Nov-12
Junior
Not so reasonable if compared to The Arte latest transaction on the level 29.. Not forgetting Arte is a FH (not LH)
Eight Riversuites 1432sf x 1459psf = $2.09-mio (Boon Keng area)
The Arte 1528sf x 1348psf = $2.06-mio (Thomson/Balestier area)
#29-xx THE ARTE JALAN RAJA UDANG Condominium $2,060,000 1,528SF Strata 1,348psf Nov-12
Newbie
[quote=East Lover]I went to Echelon yesterday. I asked one question to the agent: Raffles Place is no longer the center, more and more banks are moving to marina bay area, who are we renting to? He said it will only happen in 10-20 years time, by then you should already sell ur unit to other people....
He kept on emphasizing that the next door land sold much higher, so your purchase already made money. By the way, its $2k/psf for 1-bedder...
Then I asked him, 8RS 1-bedder $200k cheaper and no competitor from other condo, he said red hill and boon keen are different category
Like that also can??[/quote
Rents at Redhill are no better than Boon Keng. Metropolitan's rent is not impressive. Given the likelihood of about the same rent for both areas, I would opt for 8RS being 200k cheaper for a similarly sized MM.
For personal stay, I would opt for Redhill as it has a marginally more "polished" feel to it as compared to Boon Keng, provided I am willing to pay the additional 500psf.
Junior
At 1459psf, you can even buy a 3-bedder at The Legend at D10, and is also a FH.. tot is abit old, but is Dist. 10 / Bt. Timah / F'hold lol
THE LEGEND BUKIT TIMAH ROAD Condominium $2,180,000 1,485 Strata 1,468psf Dec-12
Valued Contributor
They will have a hard time renting out. Rental already softening. Now city fringe studio renting out around 3 to 3.5k. I assume 8RS and Echelon should fetch the same rental also. By 2015/16, studio rental might be fetching 2.5 to 3k only due to the massive TOP units. 8RS still can no need come out cash. Echelon will be jia lat. 8RS around 600k. Echelon around 850k. And FED already say they will stop QE soon. If interest rate back to 3%, they will repent. Don't forget, Echelon buyers are taking 30 years loan while 8RS buyers can potentially take up to 40 years (or 50 years if they take UOB).
Just a rough calculation, at 850k, 80% loan monthly installment @ 30 years, 3% interest will be around $2870.
At 600k, installment around $2,030.
I think Echelon buyers will repent if rental drop to 2.5k. Haven't even add maintenance and taxes.
[quote=nav14]I went to Echelon yesterday. I asked one question to the agent: Raffles Place is no longer the center, more and more banks are moving to marina bay area, who are we renting to? He said it will only happen in 10-20 years time, by then you should already sell ur unit to other people....
He kept on emphasizing that the next door land sold much higher, so your purchase already made money. By the way, its $2k/psf for 1-bedder...
Then I asked him, 8RS 1-bedder $200k cheaper and no competitor from other condo, he said red hill and boon keen are different category
Like that also can??
Rents at Redhill are no better than Boon Keng. Metropolitan's rent is not impressive. Given the likelihood of about the same rent for both areas, I would opt for 8RS being 200k cheaper for a similarly sized MM.
For personal stay, I would opt for Redhill as it has a marginally more "polished" feel to it as compared to Boon Keng, provided I am willing to pay the additional 500psf.
Camper
It has to do with proximity to MRT.
Newbie
And Arte being next to the noisy PIE.
Junior
Ya could be due to noise from the PIE..
But even now those OCR beside MRT track noise are selling at such psf
Newbie
Expressway noise no joke - esp fm a busy one like PIE - impractical to close window the time.
Mercedes Lover
MRT at least is non operational during the wee hours..and noise quite monotonous.. but expressway is 24/7 .... i hate screeching motorbikes
Newbie
[quote=thomastansb]They will have a hard time renting out. Rental already softening. Now city fringe studio renting out around 3 to 3.5k. I assume 8RS and Echelon should fetch the same rental also. By 2015/16, studio rental might be fetching 2.5 to 3k only due to the massive TOP units. 8RS still can no need come out cash. Echelon will be jia lat. 8RS around 600k. Echelon around 850k. And FED already say they will stop QE soon. If interest rate back to 3%, they will repent. Don't forget, Echelon buyers are taking 30 years loan while 8RS buyers can potentially take up to 40 years (or 50 years if they take UOB).
Just a rough calculation, at 850k, 80% loan monthly installment @ 30 years, 3% interest will be around $2870.
At 600k, installment around $2,030.
I think Echelon buyers will repent if rental drop to 2.5k. Haven't even add maintenance and taxes.
Have asked the above question. Agents marketing Echelon say rentals in Alexandra area proven but Boon keng area is not. Look at Alexis, MM<400sqfeet renting for 3-4k.
Newbie
Units facing Balestier side of Arte not as noisy
Newbie
[QUOTE=ekl2ekl2]Not sure if the agents can make a concluding statement based on Alexis and apply it to Boon keng. My impression is that there aren't existing mm units in boon keng now to compare with Alexis.
Recruit
A Sky I like also.
But the price now would be pushed up by Echelon.
Nevertheless, Redhill and its neighbouring Alexandra and Queenstown is going to revive and transform in the near future. Look out for the plot opposite Queens!
Recruit
Potential (perceived by buyers). If there are renewal projects in D12, then the psf will definitely shoot up.
Junior
Setback for units facing balestier is the blocked view cos there are many buildings surrounding it.
But i reckon it's still better than facing the highway cos there's also almost direct west sun coming from the PIE side..
Newbie
I think it's a matter of time - those boon keng hdb are really old, sitting on valuable city fringe land land beside mrt and will be up for renewal I guess
Newbie
How about the relatively old private condos / apts in the vicinity - Euroasia apartment, St Francis Court, St Francis Lodge. Any chance of them being redeveloped via en-bloc sales? If so, then they will also give the area the rejuvenation it needs, much like what is happening at PP. That could be a shot in the arm for prices at 8RS.
Newbie
saw ST advertised 3 bedder @ 12xx psf absolute at 1.14M, IMO that's very good value vs over hype launches like La fiesta, Ang Sua Echelon....
Senior
a few months ago the 3 bedder was advertised at 998psf or 934k for the 936sqft unit loh.....just that it is blocked left right center on 2nd floor.
Newbie
sure is face walled up car parka few months ago the 3 bedder was advertised at 998psf or 934k for the 936sqft unit loh.....just that it is blocked left right center on 2nd floor.
Newbie
I think the latest CM would redirect FIrst timer demand to value for money projects like 8RS. Price correction if any would be less noticeable for such projects.
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