I had comfirmed the Unit no should be #27-09 for 1559psf. #24-04 transact lower at 1380psf in the same period.
There is a big gap for pricing between good and lousy facing in PI.
I had comfirmed the Unit no should be #27-09 for 1559psf. #24-04 transact lower at 1380psf in the same period.
There is a big gap for pricing between good and lousy facing in PI.
can one see marina bay from stack 9?
i think the currently do-able transactions are in the 13xx to 14xx range. lousy facing i think deserve only 12xx but current sentiment maybe someone will pay 13xx for those. 24-04 could be because of the higher quantum since its 1130sq ft and absolute quantum even at 1380psf is higher than 27-09 at 1559psf and all you get is an additional study. Besides, 27-09 is likely to be a one-off developer's record price, 15xx should be hard to be transacted even in current market.
Originally Posted by dormer
hd from agent that one more transaction closed at 1520 psf 2 nites ago.
Good for property owners especially those in Park Infinia as this is already almost peak price in late 2007/2008! The economy is 'SUNNY' all over again (at least for PI)!
Originally Posted by denverusa
what evr it is...fact of d matter is prices went up becoz of buyers.
chasing prices. no one can read trend 100% correct.
if there's a need, there's supply.
and banks are now more flexible on financing margin. back to 90%
I heard that it is 90% financing BUT overloaded with additional 1% interest rate (vs 80% financing)? What a joke about 90% financing these banks are providing. Imagine how much more interest one has to pay if one is to take up 90% financing!
Originally Posted by dmonddd
10% additional financing margin versus potential capital appreciationOriginally Posted by teddybear
And this additional 1% interest rate is small esp. for more than 15 years loan tenor.
when the economy recovers everything revert to competition, price war, refinancing at no cost.....usual song and dance.
but good thing is that the current yet to recover economy banks are willing to finance up to 90%.
risk versus return.
normal in any business to up interest /price for a higher risk proposition.
10% additional financing margin versus potential capital appreciationOriginally Posted by teddybear
And this additional 1% interest rate is small esp. for more than 15 years loan tenor.
when the economy recovers everything revert to competition, price war, refinancing at no cost.....usual song and dance.
but good thing is that the current yet to recover economy banks are willing to finance up to 90%.
risk versus return.
normal in any business to up interest /price for a higher risk proposition.
How can this 1% additional financing be small? Take for eg a property purchased at $1.4m.
Bank loan at 2.5% interest rate for 80% financing means a loan of $1.12m and total interest over 5 years of $132.0k (30 years loan).
Bank loan at 3.5% interest rate for a 90% financing means a loan of $1.26m and total interest over 5 years of $209.7k (30 years loan).
The additional 1% interest will be $77.7k over 5 years! The additional cash to reduce 90% financing to 80% financing in this case is only $140k which he will earns pittance (<1%) if put in bank anyway. If a person does not have the $140k to take advantage of the cheaper debt (can save $77.7k interest charges over 5 years) and still live comfortably for next 5-10 years (to wait for the next property boom (assuming that there will be - not like the lost decade in Japan), he shouldn't be buying the property at all as nobody can guarantee a property boom!
Originally Posted by dmonddd
agree if you are sitting out the 30 years loan. but everyone is talking abt investing, whether locals/foreigners.Originally Posted by teddybear
and investors' risk preference is different versus a home owner.
so it depends on an investor who's looking at $300-400psf capital gains in next 5 years versus interest of $78k.
so you are right in a way and so are my views. i missed the chance of buying in april on one unit high floor at residences@evelyn. now i can never turn back the clock. same views i see on forum saying downturn economy slow to rebound, bankruptcy mode.....advices are free. and there was this bargain hunter who said the true thing...everyone in this forum has an agenda. bankers, agents, property hudners, sellers....
hahaha, here I am again. Don't worry about the missed chance. more opportunities will come.
Originally Posted by dmonddd
Anyone got any more news of PI last transactions?
just realised today they have moved the showunit to #13-10. didn't even visit #26-09 (the previous show unit)
back to my eariler question.... is one able to see marina bay from stack 9? just wondering why the price is so high for this stack.
Heard stack #26-09 has been sold. View from this unit quite wide and impressive, but still cannot see Marina Bay and Flyer. Can see top part of Marina IR building. I believe stack 9 is the best stack in Park Infinia, hence commanding better price than other stacks.
Originally Posted by duckweed
Originally Posted by teddybear
a distant view only ...
people really find all sorts of reason to sell high ...
no wonder woodleigh is 900 psf for a 99yr lease project ... near cemetery .. extremely convenient come 7th mth ...
So whats the last done price ?
PS : I have to declare that I DO NOT own a unit at PI.
go to www.ura.gov.sg check out the caveat .. they can however be 1-2 mths old ...Originally Posted by DKSG
but at least thats REAL done prices and not hearsay
knn cannot believe how pathetic you all are. can see marina ir, flyer so what? big ****? can improve your life? how to justify such high price? really grasping at straws!
stack 9 has the best size/view combination, that's why so expensive. the smaller 2 bedders in the last block will be blocked by upcoming VIVA and does not have private lift (not sure if this is an advantage or disadvantage). stacks 6 and 7 don't even face the development. stack 4 is a 2+study but the quantum is too high due to its bigger size and it is still afterall just a 2 bedder. So that leaves stack 9 as the supposed "premium" stack.
Originally Posted by duckweed
sellers r just pushing d prices higher and higher. or r d agents d one?
financing from banks eased and valuers r back. at d rate things r moving, we may c a sharp spike again.
i was of the impression stack 2 is the best stack in PI. never been into any stack 2 unit, so cannot explain why it is so, other than the fact that it's got the best views in PI.Originally Posted by bargain hunter
viva will definitely block tower 6a. not sure if tower 6 will be spared.
btw, i understand that #23-08 was sold for 1400psf recently (not developer sale). caveat is out already.
stack 2 has 270 degree view, that's why so called best stack. even mid floor is totally unblocked.
hehe... not so anymore once parc centennial is up.Originally Posted by denverusa
i meant in terms of size/view combi, stack 9 being a 2 bedder has a lower quantum than stack 2. i have no doubt that stack 2 is the best stack in PI.
yeah, i think block 6 will at least be partially blocked by VIVA (not directly but an eye-sore nonetheless when you look out to the left from the balcony hee) which is a pity, it was really THE premium 3 and 4 bedder block.
yup, i managed to get hold of the recent caveats:
#27-09 1559psf confirmed.
#26-10 1450psf
#26-09 1477psf
#23-08 1400psf
#24-09 1424psf
So far, the handful transacted 1400psf and above.
Originally Posted by duckweed
Parc Centennial is 19 storey? so #2x still have the view i think?
Originally Posted by duckweed
Base on the above, I reckon the prices now should be above 1,500 psf ?
asking prices are above 1500psf because of the above, but whether can be transacted or not is another thing. this is a different run from the 07 bull, back then asking prices go up and buyers chase and transact in high volumes, this time ask goes up, buyers do chase but the numbers are few and rare. as u can see, only a handful of transactions at 1400 and above. in reality, it is not easy to transact at 1400 and above unless the unit is on a very high floor and has a good view.
Originally Posted by DKSG
Lets wait and see whether enough people will buy at $1,500++ to create the new benchmark.
well, we already have the first 1559psf 2009 benchmark for D11 at PI.
its kind of strange. PI's peak psf was 1700 in 2007. To buy above 1500 seems really wierd. just look at stock markets, even after doubling or tripling off their lows, some stocks are still less than half their 2007 highs. would there really be so many unaffected people to chase PI at >1500psf?
Originally Posted by DKSG