Eight Riversuites @ Whampoa East Road (United Engineer Group LH 99 Years)

[clemdale24]

I live around the area.

Project is excellent A**** based on locality (city-fringe next to to CBD, Orchard, Kallang ), Accessibility (mrt - NEL, DTL) expressways CTE, PIE, KPE
Transport cost, travelling time to any part of island is fair and square.

Fantastic views across N S E W of Singapore. What else do you want ? Free-Hold ?

A FH condo in this area won't be selling at this price. i think 8RS has v reasonable prices for a D12 condo. some say they think the area is old and abandoned, but one has to realise - location is forever; other aspects are fleeting.

[clemdale24]

Just to add, recently the papers mentioned that Jalan Besar is in line to be the new Tiong Bahru. should this really happen, then boonkeng will surely benefit. look at how redhill prices have soared.. with the rise in profile of tiong bahru. so much so that is is probably on pars with TB now.

Jalan besar may seem v messy and old now (even i agree with this), but again, such aspects are temporary and may change over time. should it become developed and attract the crowds, the focus may gradually shift to boonkeng.

[Dragonfly]

A FH condo in this area won't be selling at this price. i think 8RS has v reasonable prices for a D12 condo. some say they think the area is old and abandoned, but one has to realise - location is forever; other aspects are fleeting.

8river is a hidden gem. Despite criticism about the old estate etc, the surrounding gives a nostalgic feel. I bought it during the soft launch and I have never regretted it. That was before CM 6 or 7 & really thankful I made the decision.

[timmy]

8river is a hidden gem. Despite criticism about the old estate etc, the surrounding gives a nostalgic feel. I bought it during the soft launch and I have never regretted it. That was before CM 6 or 7 & really thankful I made the decision.

So has prices increased since you bought at soft launch?

[Dragonfly]

I bought it on the 2nd last day of soft launch and was told it would increase another 2-3% on official launch. Not sure how true but looking at current pricing, it is still reasonably priced. Higher pricing is because the lower floors have been taken up and left the high floors.

[timmy]

I bought it on the 2nd last day of soft launch and was told it would increase another 2-3% on official launch. Not sure how true but looking at current pricing, it is still reasonably priced. Higher pricing is because the lower floors have been taken up and left the high floors.

So question is whether developer will cut prices to move units now. Project is already 70 percent sold. At 1,300 psf on average, I suppose likelihood of deep discount is low, especially when we compare it's price to $1400-$1500 one MRT stop away at potong pasir.

[Dragonfly]

So question is whether developer will cut prices to move units now. Project is already 70 percent sold. At 1,300 psf on average, I suppose likelihood of deep discount is low, especially when we compare it's price to $1400-$1500 one MRT stop away at potong pasir.

If this project was sold by Far East, maybe already sold-out even if they priced it higher. Chances of UE giving deep discount is low since OCR is somewhere at $1000-1100.
If you got a unit in 8RS, hang on and lets enjoy the ride!

[clemdale24]

If this project was sold by Far East, maybe already sold-out even if they priced it higher. Chances of UE giving deep discount is low since OCR is somewhere at $1000-1100.
If you got a unit in 8RS, hang on and lets enjoy the ride!

True. UE marketing strategy really cannot make it. if anything, that has resulted in only 70% sales so far. like u said, should fareast have been the developer 8RS would be likely fully sold, and at a much higher price, taking into account prices at potong pasir which is further away from the city.

in a way this is a good thing which means that buyers have bought at a lower price than it should be. look at OCR prices - sengkang 1000-1200psf. tanah merah 1300-1500psf. bukit panjang 1000-1100psf. kovan 1200-1300psf. and JURONG - dont have to say much more.

so this boonkeng project, at 1300-1400psf, sounds rather reasonable. as close to the city as redhill, where echelon is going for 1700-1800psf. of course i agree redhill is definitely more atas, but convenience wise they are both on par. so the 400psf difference to me, is not justified.

[Dragonfly]

True. UE marketing strategy really cannot make it. if anything, that has resulted in only 70% sales so far. like u said, should fareast have been the developer 8RS would be likely fully sold, and at a much higher price, taking into account prices at potong pasir which is further away from the city.

in a way this is a good thing which means that buyers have bought at a lower price than it should be. look at OCR prices - sengkang 1000-1200psf. tanah merah 1300-1500psf. bukit panjang 1000-1100psf. kovan 1200-1300psf. and JURONG - dont have to say much more.

so this boonkeng project, at 1300-1400psf, sounds rather reasonable. as close to the city as redhill, where echelon is going for 1700-1800psf. of course i agree redhill is definitely more atas, but convenience wise they are both on par. so the 400psf difference to me, is not justified.

Absoutley agree. After all, it is the marketing strategy. I am surprised ppl are willing to pay for what you have mentioned above for areas in Sengkang & Bukit Panjang. When my agent asked if I am interested in Echelon, I shaked my head. That 400psf really a Big difference to me too!

[Ilikeu]

Hi, anyone knows if the showflat is still open for viewing? and the current price for the 3 & 4 bedders?

[isplash]

Hi, anyone knows if the showflat is still open for viewing? and the current price for the 3 & 4 bedders?

Yes is still open. Not sure about the 4 bedders but the 3 bedders are going for 1.3m onwards.

[dragonkee]

Yes is still open. Not sure about the 4 bedders but the 3 bedders are going for 1.3m onwards.

Tot 3 bedders 936 sqf still got 1.15m if based on property guru website. But don know true or not

[isplash]

Tot 3 bedders 936 sqf still got 1.15m if based on property guru website. But don know true or not

Not sure about that though... i am referring to 980 sqf : )

[dragonkee]

Not sure about that though... i am referring to 980 sqf : )

Oh.... ic

[Kenshinto80]

Oh.... ic

Stretch your budget a bit, this is a star buy with huge potential upside. Undervalued project. Can eat Boon Tong Kee everyday leh. Awesome chicken rice....oh ya...now got the curry chicken combo on offer....must try!

[hyenergix]

Stretch your budget a bit, this is a star buy with huge potential upside. Undervalued project. Can eat Boon Tong Kee everyday leh. Awesome chicken rice....oh ya...now got the curry chicken combo on offer....must try!

I also think this is an undervalued project...

[iforum]

buy buy buy

[clemdale24]

I also think this is an undervalued project...

undervalued. low key. like the forgotten middle child.
thanks to the lousy marketing by UE.

[dragonkee]

Stretch your budget a bit, this is a star buy with huge potential upside. Undervalued project. Can eat Boon Tong Kee everyday leh. Awesome chicken rice....oh ya...now got the curry chicken combo on offer....must try!

Actually wanted to buy 980, but don like the facing (potong pasir). And 1.3m only can get low floor. So end up get the 936 ,and got 2 balcony. Like it

[timmy]

I also think this is an undervalued project...

What then will help this project realise its potential?

[clemdale24]

What then will help this project realise its potential?

good question timmy. i also wanna hear from the expert haha

[hyenergix]

What then will help this project realise its potential?

The surrounding is old. When they get rejuvenated. I think it will be when Bidadari is launched.

[timmy]

The surrounding is old. When they get rejuvenated. I think it will be when Bidadari is launched.

IMHO, the following factors will help 8RS realise its value. Some factors are more immediate than the others:
- completion of sports hub
- en-bloc of the old private estates (e.g. Euro- Asia, st Francis court)
- new HDB flats at BOon keng reach 5-yr MOP
- site at serangoon road get launched
- new mrt line with bendemeer station open

[clemdale24]

IMHO, the following factors will help 8RS realise its value. Some factors are more immediate than the others:
- completion of sports hub
- en-bloc of the old private estates (e.g. Euro- Asia, st Francis court)
- new HDB flats at BOon keng reach 5-yr MOP
- site at serangoon road get launched
- new mrt line with bendemeer station open

i like your analysis timmy. and hyenergix - thanks for your expert opinion.
in my amateur opinion, i think points no. 2/3/4/5 will have significant impact on boonkeng house prices. however, the biggest and most important factor is still the overall upgrading of the estate, ie, getting rid of the 1 room HDBs.

[Imm]

yes getting rid of the old hdbs with ground floor retail will have one of the largest impact to 8 riversuites

As the HDBs are zoned residential with ground floor retail, if sold to private developers it will be relaunch as something similar to The Venue Residences.. perhaps at a larger scale. The price will also be higher than The Venue as it is at a better location and closer to mrt/city. 8 riversuites prices will naturally appreciate when the surroundings get enhanced and also when the new launches in close proximity are priced higher.

Imagine in future walking from 8 riversuites to Mrt is not thru the old HDB but new condo development with new retails shops... the vibe is whole lot different!

[timmy]

yes getting rid of the old hdbs with ground floor retail will have one of the largest impact to 8 riversuites

As the HDBs are zoned residential with ground floor retail, if sold to private developers it will be relaunch as something similar to The Venue Residences.. perhaps at a larger scale. The price will also be higher than The Venue as it is at a better location and closer to mrt/city. 8 riversuites prices will naturally appreciate when the surroundings get enhanced and also when the new launches in close proximity are priced higher.

Imagine in future walking from 8 riversuites to Mrt is not thru the old HDB but new condo development with new retails shops... the vibe is whole lot different!

Just visited Lake Ville near lakeside MRT. Can't believe that the indicative price is 1,250-1350 psf for 3-bedder, almost the same as 8RS. And it is not even near to MRT (450 m). 8RS seems really undervalued.

[clemdale24]

Just visited Lake Ville near lakeside MRT. Can't believe that the indicative price is 1,250-1350 psf for 3-bedder, almost the same as 8RS. And it is not even near to MRT (450 m). 8RS seems really undervalued.

Wow that's really expensive for lakeside, which is actually considered jurong west, not even jurong east. And yes it's pretty much the same price as eight riversuites! Location wise really it's no comparison. So either one is underpriced or the other is overpriced. Ppl don't seem to think j gateway was overpriced, so all I can say is that 8RS is underpriced. What's the price for 2 bedder btw?

[timmy]

Wow that's really expensive for lakeside, which is actually considered jurong west, not even jurong east. And yes it's pretty much the same price as eight riversuites! Location wise really it's no comparison. So either one is underpriced or the other is overpriced. Ppl don't seem to think j gateway was overpriced, so all I can say is that 8RS is underpriced. What's the price for 2 bedder btw?

1310-1480 psf for compact and 1270-1440 psf for standard 2-bedder. Given that the development is 16 storey high, we are talking about up to 1480 for 16 floor 2-bedder at lakeville

[clemdale24]

1310-1480 psf for compact and 1270-1440 psf for standard 2-bedder. Given that the development is 16 storey high, we are talking about up to 1480 for 16 floor 2-bedder at lakeville

one word: expensive (to me). u cannot compare boonkeng with lakeside (jurong west). property prices shouldnt be the same in these 2 areas because it simply doesnt make sense.

[dragonkee]

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