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Thread: Robust weekend sales of mass-market condominiums

  1. #1
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    Default Robust weekend sales of mass-market condominiums

    http://www.straitstimes.com/premium/...niums-20130521

    Robust weekend sales of mass-market condominiums

    Published on May 21, 2013

    By Melissa Tan


    BUYERS made a beeline for recently launched mass-market projects over the weekend.

    The new projects high on the shopping list included Stratum in Pasir Ris, Whitehaven in Pasir Panjang and Corals at Keppel Bay, which were all launched or previewed last week.

    The Straits Times understands that the 380-unit Stratum moved about 190 apartments on Saturday and Sunday of the nearly 250 units released in the first phase.

    Units at the 99-year leasehold development were launched at around $900 psf. Sizes range from 432 sq ft for a studio to 2,446 sq ft for a five-bedroom duplex penthouse.

    The Elias Road project is being developed by Elitist Development, which is related to the Lim family behind the Sin Soon Lee Group.

    Whitehaven, which has 121 units and is being developed by Roxy-Pacific Holdings, sold nearly 70 units over the weekend, said the firm's chief executive, Mr Teo Hong Lim, yesterday.

    The average price at the five-storey freehold project was between $1,470 and $1,480 psf, he added.

    Sales were also robust at the preview of the 99-year leasehold Corals at Keppel Bay by Keppel Land, which is near Harbourfront MRT. More than 80 of the 100 units released were snapped up after the preview began on Friday, Keppel Land said yesterday.

    Buyers are believed to be mostly Singaporeans.

    Prices at the 366-unit project are said to have ranged from $1,800 to $3,000 psf.

    Keppel Land said most units sold have been one- to three-bedders. There are also four-bedroom units and eight penthouses. Sizes range between 600 sq ft and 3,500 sq ft.

    The lease for Corals starts from 2007. It is not subject to rules that stipulate that the developer has up to five years to build the project and then has to sell all the units within two years of obtaining the temporary occupation permit.

    Corals is the third residential project by Keppel Corporation and Keppel Land on the former Keppel Harbour site, after the 969-unit Caribbean at Keppel Bay and the 1,129-unit Reflections at Keppel Bay.

    Corals at Keppel Bay will be officially launched this weekend.

    Upcoming launches expected this month include the 142-unit KAP Residences at King Albert Park, which is being built by Oxley Holdings, and the 64-unit Liv on Sophia near Dhoby Ghaut MRT station, which is by Roxy-Pacific. Both are freehold.

    Liv on Sophia at 14 Adis Road has 64 two-bedroom units from 527 sq ft. They are expected to be priced from $2,500 psf.

    Other projects that may go on the market soon include the mixed development NeWest on West Coast Drive, at the former site of Hong Leong Garden Shopping Centre. The 12-storey residential and commercial development is on a 999-year lease.

    A 118-unit cluster housing development called Belgravia Villas in Ang Mo Kio is also expected to be launched at the end of next month or the beginning of July. Prices for the houses are expected to start from $2.9 million.

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    Jin scary... heard stratum 190 unis sold of 50% and corals reported not bad sales.

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    Quote Originally Posted by dtrax
    Jin scary... heard stratum 190 unis sold of 50% and corals reported not bad sales.
    Newest is almost fully sold already.

    When Office Boy visited the showflat, there were less than 5 units of condos left!

    Corals certainly did many many more than 80 units when I visited on Sunday.

    Office Boy is sneaking out of office tomorrow to visit Stratum!

    DKSG

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    One week sell out almost all units? Hmmm... gosh, more CM again?

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    Quote Originally Posted by kane
    One week sell out almost all units? Hmmm... gosh, more CM again?
    Thaman says cooling measure working so unlikely have cm. maybe some tweak on ec?
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Quote Originally Posted by Ringo33
    Thaman says cooling measure working so unlikely have cm. maybe some tweak on ec?
    Is stratum EC or PC?

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    Quote Originally Posted by kane
    Is stratum EC or PC?
    It is PC....

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    No need to monitor la. Sure a V shaped recovery!

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    Quote Originally Posted by 狮子王
    No need to monitor la. Sure a V shaped recovery!
    Lion King ... recover from what ?

    Our property market never really dipped.

    You mean accelerated price escalation ?

    DKSG

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    Quote Originally Posted by DKSG
    Lion King ... recover from what ?

    Our property market never really dipped.

    You mean accelerated price escalation ?

    DKSG
    volume dropped leh.

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    Quote Originally Posted by 狮子王
    volume dropped leh.
    Volume drop does not necessarily mean Prices will drop.

    Many owners now are not selling and holding back their valued ppty for rentals instead.

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    Quote Originally Posted by smartboy2
    Volume drop does not necessarily mean Prices will drop.

    Many owners now are not selling and holding back their valued ppty for rentals instead.
    volume drop is usually the first sign because seller and buyer have different price expectation. and if buyers doesnt have reason to be bullish then seller will eventually have to lower their price
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Quote Originally Posted by Ringo33
    volume drop is usually the first sign because seller and buyer have different price expectation. and if buyers doesnt have reason to be bullish then seller will eventually have to lower their price
    Or buyers will have to increase price since seller got no reaon to sell.... Unemployment low, interest rate low, positive cash flow, SSD, high replacement costs, no other place to park the money after selling... So possible buyers blink instead?

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    Quote Originally Posted by CCR
    Or buyers will have to increase price since seller got no reaon to sell.... Unemployment low, interest rate low, positive cash flow, SSD, high replacement costs, no other place to park the money after selling... So possible buyers blink instead?
    with all the CMs, economy restructuring and interest rate already hitting rock bottom, there is no reason to be bullish about property in Singapore, especially large quantum with low rental yield.

    For an investors, there are plenty of option to invest and Singapore is no longer an attractive place due to government policies.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Quote Originally Posted by Ringo33
    with all the CMs, economy restructuring and interest rate already hitting rock bottom, there is no reason to be bullish about property in Singapore, especially large quantum with low rental yield.

    For an investors, there are plenty of option to invest and Singapore is no longer an attractive place due to government policies.
    Care to suggest what other options to invest in?

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    Quote Originally Posted by Ringo33
    with all the CMs, economy restructuring and interest rate already hitting rock bottom, there is no reason to be bullish about property in Singapore, especially large quantum with low rental yield.

    For an investors, there are plenty of option to invest and Singapore is no longer an attractive place due to government policies.
    I think the drop in supply is more apparent then the drop in demand.

    Office Boy shares this with you. When trying to find an investment property for my nice colleague in D9, every other viewing I went, I will confirm see more than 2 other viewers. Even if I go during weekday, once every 2 times, I will see another viewer viewing on weekdays. Demand is certainly there!

    On the supply side, from my observations in property guru, I notice that the number of units up for sale has dropped very significantly over the last year, at least for those I am eyeing for myself or my friends.

    So, Office Boy predicts that buyer will give in to sellers and price will continue to appreciate.

    There are not many other places around the world as ideal for property investment as Singapore. Other classes of investment carries much bigger risk - bonds - anytime company collapse like Lehman - every cent is gone! Same as shares. Once company collapse, even if you can wait long long, money already gone, wont come back.

    DKSG

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    Quote Originally Posted by DKSG
    I think the drop in supply is more apparent then the drop in demand.

    Office Boy shares this with you. When trying to find an investment property for my nice colleague in D9, every other viewing I went, I will confirm see more than 2 other viewers. Even if I go during weekday, once every 2 times, I will see another viewer viewing on weekdays. Demand is certainly there!

    On the supply side, from my observations in property guru, I notice that the number of units up for sale has dropped very significantly over the last year, at least for those I am eyeing for myself or my friends.

    So, Office Boy predicts that buyer will give in to sellers and price will continue to appreciate.

    There are not many other places around the world as ideal for property investment as Singapore. Other classes of investment carries much bigger risk - bonds - anytime company collapse like Lehman - every cent is gone! Same as shares. Once company collapse, even if you can wait long long, money already gone, wont come back.

    DKSG
    Just wait. SSD is turning 3 so 2010 batch will be release into the market very soon.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Quote Originally Posted by Ringo33
    volume drop is usually the first sign because seller and buyer have different price expectation. and if buyers doesnt have reason to be bullish then seller will eventually have to lower their price
    Since 2009 till now 2013.. There were certain months with low volume & headline oso came out big big..

    How come only this time round is the "first sign".. whereas for past 5-years certain months with low volume don't have "first sign"

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    Quote Originally Posted by Ringo33
    Just wait. SSD is turning 3 so 2010 batch will be release into the market very soon.
    If resale supply doesn't increase, what will your take be then?

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    Quote Originally Posted by DKSG
    Newest is almost fully sold already.

    When Office Boy visited the showflat, there were less than 5 units of condos left!

    Corals certainly did many many more than 80 units when I visited on Sunday.

    Office Boy is sneaking out of office tomorrow to visit Stratum!

    DKSG
    Hi DKSG, how's Stratum? Really impressed by the sales. Will check it out this weekend.

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    SSD 3yr anniv coming soon right.... so?

    with all the CMs, replacement cost is high or impossible. Those hoping for fire sale - wait long long ba. With or without ssd, seller will sell only if profit is good. After waiting 3yrs, the asking will be way higher. Plus add on the absd for the new replacement unit. No takers? Just hold. Low int rate env.
    Last edited by mcmlxxvi; 24-05-13 at 11:40.
    click: 🏢shoeboxmickeymousehouse 🏢

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    Quote Originally Posted by mcmlxxvi
    SSD 3yr anniv coming soon right.... so?

    with all the CMs, replacement cost is high or impossible. Those hoping for fire sale - wait long long ba. With or without ssd, seller will sell only if profit is good. After waiting 3yrs, the asking will be way higher. Plus add on the absd for the new replacement unit. No takers? Just hold. Low int rate env.
    Brudder, your EMPATHY very high.... With empathy, u can "predict" the future....

    Just ask any investor here today, how many will sell their condo after the SSD period. Hahahaha... Raise your hands please...

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    Quote Originally Posted by chestnut
    Brudder, your EMPATHY very high.... With empathy, u can "predict" the future....

    Just ask any investor here today, how many will sell their condo after the SSD period. Hahahaha... Raise your hands please...
    Good bro, we have an uncanny rhythm.

    Today i just posted on my gplus the following reflection:

    "I believe in the existence of empathy, envy, admiration, obsession, intuition, and basic instincts like fear, aggression, hunger, sadness, lust, curiosity, loneliness etc.

    But love... it is undefined to me.

    Are you saying it is a combination of all the above, or just a concept we manufactured?"

    click: 🏢shoeboxmickeymousehouse 🏢

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    Quote Originally Posted by mcmlxxvi
    Good bro, we have an uncanny rhythm.

    Today i just posted on my gplus the following reflection:

    "I believe in the existence of empathy, envy, admiration, obsession, intuition, and basic instincts like fear, aggression, hunger, sadness, lust, curiosity, loneliness etc.

    But love... it is undefined to me.

    Are you saying it is a combination of all the above, or just a concept we manufactured?"


    love is an understanding normally happens when ur UNDER STANDS
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    Quote Originally Posted by chestnut
    Brudder, your EMPATHY very high.... With empathy, u can "predict" the future....

    Just ask any investor here today, how many will sell their condo after the SSD period. Hahahaha... Raise your hands please...
    sell to reset the SSD clock and at a much higher rate? and incur more ABSD? not a smart decision at all.

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    bro radha u mixed up lust n love ler

    love is enjoying the evening breeze with your wifey wine in hand and tcss

    Despite my avatar i dont under stand when i see a nice mm....
    click: 🏢shoeboxmickeymousehouse 🏢

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    GSS is coming soon for property!

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    Quote Originally Posted by DC33_2008
    GSS is coming soon for property!
    LOL <like!>

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    Quote Originally Posted by mcmlxxvi
    bro radha u mixed up lust n love ler

    love is enjoying the evening breeze with your wifey wine in hand and tcss

    Despite my avatar i dont under stand when i see a nice mm....
    ha ha most of time end up quarrelling but your right that is love when u old
    and ur wife old your brother also old...
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    this weekend might see some action with the buangkok jewel commencing sales.

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