Has anyone got comments on the investment value of this property?
You can try charging slightly more than $2.5K for a 3 bedroom. Maybe even try for $3.5k, if Orchard rents go up to $5k or more for 3 bedroom. In terms of rental return %, Citylights surely has a higher yield than Orchard as there are still cheap units available.
Don't forget Citylights being in district 8 is located just next to district 9 Orchard and district 11 Novena. Maybe the surroundings are not as pleasant as Orchard or Novena, but tenants who are priced out of those areas may turn to Citylights.
Over time, this whole area will hopefully become more genteel and upmarket, with the arrival of condos like Southbank and Citylights. If I am not wrong, another condo is coming up at King George's Avenue which is nearby. Think it is going to be developed by Allgreen, please correct me if I am wrong.
As for Citylights itself, still some units left unsold. So for the future of sub sale, I am not so sure. As a direct comparison, you can compare to Southbank which is sold out. So draw your own conclusions.
>>If I am not wrong, another condo is coming up at King George's Avenue which is nearby. Think it is going to be developed by Allgreen, please correct me if I am wrong.
This is interesting. You have more info on this King George's Avenue new development?
King George? All that is there now are very very old office buildings and flatted factories. Perhaps an HDB or two. Perhaps there are some very old and run down private apartments to en block. The whole place is just very dead. Anyway if those old apartments at King George were to go en block, I don't think it will even make the news. Too insignificant and I don't think those apartments even have names: they are just a number and road name.
There is still a large piece of vacant state land along King George's Ave at the other end of it next to Syed Alwi Road. I guess new developments can occur there but I have not heard of any govt land sales there yet.
It may be dead now but come 2008, a major government agency involved in organizing national cultural and community social events is relocating its headquarters to that area. That place may suddenly come alive again.
Citylights will be blocked by Southbanks on the view and geylang view which is not blocked is not very disireable.
why not desirable? can use telescope to "check out" your "target"Originally Posted by Unregistered
Will be good for rental. Very near Marina IR and Marina Bay. For those expats working there who cannot afford the high rents in Marina.
True. With the new Iconic Bridge ready in 2010 linking Marina Centre to Marina South, it would probably be a quick 3 minutes drive from Citylights to the Marina Bay Sands IR via Republic Avenue and Crawford Road.Originally Posted by Unregistered
There is a small one coming up at Somme Road called Residences @ Somme. I believe you have already posted details about it on the skyscrapercity site. Care to post them here too? ThanksOriginally Posted by maverick713
There are 3 studio units left in Citylights. They are all on the 1X floors of Tower 90. Developer is selling at around $910+psf. The showroom is still open for viewing.
Is that all that is left? how abt 3/4 bedrooms?Originally Posted by Showroom Hopper
Sub sale only. Wanna buy?Originally Posted by Unregistered
What is the rental expectation for 3 rooms?Originally Posted by Unregistered
3 bedroom should be around $4k to $5k... nobody is sure because no benchmarks around. But if we project into the future maybe 3,4 years later, we should see really high rents around here because of the trickle down from Marina Bay. This area is considered Greater Marina Bay.
Irene 9677-6428, DTZ
Southbank
#20 up, 958 sqft ...... $1,250 psf
#30 up, 614 sqft ...... $1,500 psf
#30 up, 969 sqft ...... $1,500 psf
Citylights
#20 up, 893 sqft ...... $1,500 psf
I understand #08-03 has just been transacted at $1,000psf and #38-01 at $1.6 million.
In fact all above-30-floor units in Citylights and Southbank are asking $1,500 psf now.
What a change!
Minister Mah has really changed this part of the world.
Citylights NO1Originally Posted by nice pic
The one in the water is nicer.
I heard there are many unhappy Citylights owners. Not happy with quality, design, kind of people staying there ...... As expected.Originally Posted by Unregistered
got many chio bu staying there... that day I saw..... wow.. office gals and professional women stay here.......wish I can be their neighbour hehehehe
When you buy, they will move out.Originally Posted by Unregistered
Ahh.. you are talking about the china prostitutes coming from the immigration centre is it?Originally Posted by Unregistered
No. With a aqua chinese pimp like you, who wants chinese prostitutes?Originally Posted by Unregistered
Aqua? You mean sissy?Originally Posted by Unregistered
Aqua is referring to the cartoon Aquaman, the hero that kill half man half woman.Originally Posted by Unregistered
It looks hot and sunny