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Thread: Martin Place Residences (D9, Freehold, Frasers Centrepoint)

  1. #31
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    http://www.straitstimes.com/Money/St...ry_378581.html

    May 19, 2009 Tuesday

    Price cuts draw buyers to 3 condo relaunches


    Parc Centennial sold 32 units at $1,115 psf to $1,233 psf over the weekend. Prices were about 20 per cent lower than last year's $1,450 psf. -- PHOTO: EL DEVELOPMENT


    THREE prime condominium projects that struggled to generate interest last year saw a surge of buyer activity over the weekend after developers cut their prices.

    The freehold 19-storey Parc Centennial in Kampong Java Road - where all 51 units are served by private lifts - sold 32 units at $1,115 per square foot (psf) to $1,233 psf, or from $1.27 million to $1.93 million. This price level is about 20 per cent lower than last year's $1,450 psf, and the interest absorption scheme is included.

    Developer EL Development sold only six units in April and May last year when the project was originally released for sale. And at a private preview in March this year, it sold a 2,486 sq ft penthouse unit for $1,005 psf.

    It held a preview this past weekend and has now sold all the two-bedroom units, which start from 1,098 sq ft. The three-bedders increase in size to 1,572 sq ft.

    Managing director Lim Yew Soon said he had raised the prices of the remaining 12 three-bedroom units at Parc Centennial by 2 per cent.

    Over at the 302-unit Martin Place Residences in River Valley, a soft launch over the weekend saw sales of 80 units at $1,450 psf on average, out of a total of 100 units launched.

    Developer Frasers Centrepoint Homes said the 'attractive pricing' drew buyers. It released units priced from $1,260 psf to $1,700 psf, compared with the initial 28 units sold at $1,700 psf to $2,000 psf last year.

    Singaporeans made up 62 per cent of the buyers at Martin Place Residences, with the rest being permanent residents and foreigners.

    Earlier, CapitaLand had reported strong weekend sales at its 173-unit The Wharf Residence. About 95 per cent of the buyers chose not to take up the stamp duty waiver and interest absorption, preferring a straight 8 per cent price cut, it said yesterday.

    Prices started at just below $1,000 psf for units with private enclosed space and many of the weekend deals were done at less than $1,300 psf, industry sources said.

    Attractive price cuts, coupled with the recent stock market rally and a fear of losing out, are some of the key factors spurring buyer interest, experts said.

    Compared with the situation late last year, buyers are more confident and developers seem to be taking advantage of improving sentiment to relaunch projects at attractive prices, said PropNex chief executive Mohamed Ismail.


    JOYCE TEO

  2. #32
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    Dropped by the showroom just before 6pm this evening. People were still streaming in my the time I left. The developer had launched 1 block or approximately 120 out of 302 units since last weekend (previously 28 units had been sold last year at high prices). More than 92 units had been sold and the developer had stopped selling the higher floors with a view to increase prices during this weekend's launch. Was quoted a very low floor 3 bedroom unit at 1300psf. Seems like below the 14th floor sky terrace, prices are 1300psf to 1400psf currently.

  3. #33
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    Default Martin Place Residences (D9, Freehold, Frasers Centrepoint)

    MARTIN PLACE RESIDENCES @ $1,4XX psf averagely
    ===
    District: 09
    Address: 2,6 MARTIN PLACE
    Developer: FRASERS CENTREPOINT HOMES
    Type: APARTMENT / CONDO
    Year Completed: 2011
    Tenure: FREEHOLD
    Total Units: 302
    ===
    1/2/3/4/Penthse bdrms units
    Showflat available to view .
    1bdrm - 592/646
    2bdrm - 1044/1163
    3bdrm - 1421
    3+study bdrm - 1722
    4bdrm - 1894/2002
    5dbrm Penthse - 3326/3434
    ===
    Facilities:
    SWIMMING POOL
    CHILDREN'S POOL
    FUNCTION ROOM
    GYM
    CHANGING ROOMS
    CHILDREN'S PLAY AREA
    TENNIS COURT
    SPA POOLS
    2 SPA PAVILION WITH BBQ
    POOL DECK
    GRAND PAVILION WITH KITCHEN
    BBQ
    SKY TERRACE ON 14TH STOREY WITH READING LOUNGE
    YOGA CORNER
    SKY LOUNGE
    WATER GARDEN
    ===
    Roger Tan - 9061-9884

  4. #34
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    Any update on the sale during the last weekend?? Prices?

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    According to today's BT,


    "Frasers Centrepoint sold 60 more units last week at Martin Place Residences; new units were released over the weekend at prices that were about 5-7 per cent higher." ......

    and

    "At Martin Place Residences, the developer released fresh units below the 14th floor sky terrace in the second and final block in the 33-storey condo.
    Prices of the freshly released units start from $1,350 psf, higher than the $1,260 psf starting price in the earlier block during the preceding weekend's marketing campaign.
    However, the latest pricing is still below the $1,700 psf starting price for the 33-storey freehold project when it was previewed last year. Inclusive of the units sold last week, 168 units in the 302-unit condo are now sold."

    Official launch is this weekend, the agent told me.


    Quote Originally Posted by moneyspinner
    Any update on the sale during the last weekend?? Prices?

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    Any updates? Worth to buy this? If not which is better then MPR?

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    Is it worth to buy at $1300-$1400psf for 3rm south facing low to mid flr? My concern is it is opposite a religious instituition, though not as bad as Wharf which i think is beside one. Any thoughts to share tks

    I was told it is on elevated ground. So even low flr like 8th is like Rivergate 18th. But it seems south facing units will be blocked by future residential development.

  8. #38
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    I guess most are attracted to this mainly:
    - prices at RG seems to be holding well
    - relatively large land and only 20% residential
    - full condo facilities unlike wharf and better quality
    - a discount of almost $2XX-300K from last yr when those idiots purchase these units (based on the first private prices since FCL has risen the prices since)

    But like I said if you are ok with a temple/religious institution flanked on the right and dun mind the pple streaming in for free food in weekends/festive seasons and congested traffic, go ahead and buy if the price is within the comfortable range. I am not sure what some of u guys think about temples etc.. beside condos since it is usually attributed to noise, traffic but if you wish to stroll down to orchard you will definitely bypass the kim yam road. I cant imagine a high crass development having the above even though they build their own "martin place" road

    Also it has the neither here nor there loaction, it is still a fair 8-10 mins walk to somerset mrt/orchard central shopping and a fair distance to clark quay

    As for the south facing view, the new blocks released might be blocked by the empty plot of land if developed for residential assuming same plot ratio

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    I have been scouting for a property since the start of this year and did my due diligence by going to ura site to check for upcoming projects, then google-ing on projects on areas/roads that i am interested and then calling up developers so that i can go for preview launches before official launches.
    i seen about 10 plus 20 new developments in d9,10,11 but most other developments belong to genre of having one or two tall towers built on small plot of land. i was patiently waiting for the prices to go down since 2 years ago but they seem to have more or less stablised now. in my opinion it is not very realistic to keep waiting as sellers and developer launch prices are more or less on par. the h1n1 is a lame virus with ridiculously low mortality rate plus with a vaccine on way, its not going to affect economy.

    Finally i chose and bought a 1-room (few floors below sky terrace) in Martinplace during preview launch. 1400+ psf. havent regretted since and really looking forward to TOP .
    initially i didnt want to consider cos it was along crowded kim yam road and buddist lodge. but they opened a new road Martinplace road just for this development which leads direct to martin road. what i really liked was the large spaces and really cool facilities like 50m pool, sky terrace, tennis court etc. older developments are more generous with space. for new developments in freehold d9, it is rare to have so much space. only about 20-30% of land in martinplace res is used for resident blocks. the rest is for facilities.
    would have wanted a higher floor unit but the larger 1 rms (646 sq ft) are facing the pool and max only 13 floors. the smaller ones 592 go up to 30+ floors but i decided to go for slighter larger and pool view. i suppose a very high floor has higher potential to sell for extra-ordinary price but that is irrevelent to me (my gf loves the place and said she will never ever agree to sign to sell it. at most rent out ). in which case, it makes most economical sense to buy a mid floor unit since rental yield is not much higher for high floor units). the
    I been to both Alexis and Illuminaire (the two extremely "hot" developments that sold out within days). i must admit the psf for them is fairly attractive and their location unbeatable for freehold. but their size is like un-liveable. one room is 400+ sq ft and and how they can squeeze 2 rooms in 600+ sqft is beyond me. illuminaire still got 2 balconys ??!
    As mentioned, the real draw for me to martin res is the large space and the facilities. however the drawback is that it is near buddist lodge. but this is not a major issue cos you have your own alternative road out and do not have to squeeze through kim yam. thats of course my own personal opinion.

  10. #40
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    Good choice! I know for new good sized and ok priced studios, only Martin Place, Inspira and Tribeca has. Not sure if there are any others in the area?


    Quote Originally Posted by eng00701
    I have been scouting for a property since the start of this year and did my due diligence by going to ura site to check for upcoming projects, then google-ing on projects on areas/roads that i am interested and then calling up developers so that i can go for preview launches before official launches.
    i seen about 10 plus 20 new developments in d9,10,11 but most other developments belong to genre of having one or two tall towers built on small plot of land. i was patiently waiting for the prices to go down since 2 years ago but they seem to have more or less stablised now. in my opinion it is not very realistic to keep waiting as sellers and developer launch prices are more or less on par. the h1n1 is a lame virus with ridiculously low mortality rate plus with a vaccine on way, its not going to affect economy.

    Finally i chose and bought a 1-room (few floors below sky terrace) in Martinplace during preview launch. 1400+ psf. havent regretted since and really looking forward to TOP .
    initially i didnt want to consider cos it was along crowded kim yam road and buddist lodge. but they opened a new road Martinplace road just for this development which leads direct to martin road. what i really liked was the large spaces and really cool facilities like 50m pool, sky terrace, tennis court etc. older developments are more generous with space. for new developments in freehold d9, it is rare to have so much space. only about 20-30% of land in martinplace res is used for resident blocks. the rest is for facilities.
    would have wanted a higher floor unit but the larger 1 rms (646 sq ft) are facing the pool and max only 13 floors. the smaller ones 592 go up to 30+ floors but i decided to go for slighter larger and pool view. i suppose a very high floor has higher potential to sell for extra-ordinary price but that is irrevelent to me (my gf loves the place and said she will never ever agree to sign to sell it. at most rent out ). in which case, it makes most economical sense to buy a mid floor unit since rental yield is not much higher for high floor units). the
    I been to both Alexis and Illuminaire (the two extremely "hot" developments that sold out within days). i must admit the psf for them is fairly attractive and their location unbeatable for freehold. but their size is like un-liveable. one room is 400+ sq ft and and how they can squeeze 2 rooms in 600+ sqft is beyond me. illuminaire still got 2 balconys ??!
    As mentioned, the real draw for me to martin res is the large space and the facilities. however the drawback is that it is near buddist lodge. but this is not a major issue cos you have your own alternative road out and do not have to squeeze through kim yam. thats of course my own personal opinion.

  11. #41
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    Good advice from you guys. That's what I feel. This is a good project to invest in. Will be exercising my option next week. Thanks

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    Congrats on yr purchase ! but seriously i m not sure yr age group, but i think after u got married with yr girlfriend u wd need at least 1000 sq ft so start saving now for the next house ! i hv friends who bgt studio and before long, they realise is just too small for 2 person, let alone v soon another baby coming along. meanwhile, enjoy yr yuppie life !

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    Quote Originally Posted by eng00701
    I have been scouting for a property since the start of this year and did my due diligence by going to ura site to check for upcoming projects, then google-ing on projects on areas/roads that i am interested and then calling up developers so that i can go for preview launches before official launches.
    i seen about 10 plus 20 new developments in d9,10,11 but most other developments belong to genre of having one or two tall towers built on small plot of land. i was patiently waiting for the prices to go down since 2 years ago but they seem to have more or less stablised now. in my opinion it is not very realistic to keep waiting as sellers and developer launch prices are more or less on par. the h1n1 is a lame virus with ridiculously low mortality rate plus with a vaccine on way, its not going to affect economy.

    Finally i chose and bought a 1-room (few floors below sky terrace) in Martinplace during preview launch. 1400+ psf. havent regretted since and really looking forward to TOP .
    initially i didnt want to consider cos it was along crowded kim yam road and buddist lodge. but they opened a new road Martinplace road just for this development which leads direct to martin road. what i really liked was the large spaces and really cool facilities like 50m pool, sky terrace, tennis court etc. older developments are more generous with space. for new developments in freehold d9, it is rare to have so much space. only about 20-30% of land in martinplace res is used for resident blocks. the rest is for facilities.
    would have wanted a higher floor unit but the larger 1 rms (646 sq ft) are facing the pool and max only 13 floors. the smaller ones 592 go up to 30+ floors but i decided to go for slighter larger and pool view. i suppose a very high floor has higher potential to sell for extra-ordinary price but that is irrevelent to me (my gf loves the place and said she will never ever agree to sign to sell it. at most rent out ). in which case, it makes most economical sense to buy a mid floor unit since rental yield is not much higher for high floor units). the
    I been to both Alexis and Illuminaire (the two extremely "hot" developments that sold out within days). i must admit the psf for them is fairly attractive and their location unbeatable for freehold. but their size is like un-liveable. one room is 400+ sq ft and and how they can squeeze 2 rooms in 600+ sqft is beyond me. illuminaire still got 2 balconys ??!
    As mentioned, the real draw for me to martin res is the large space and the facilities. however the drawback is that it is near buddist lodge. but this is not a major issue cos you have your own alternative road out and do not have to squeeze through kim yam. thats of course my own personal opinion.
    Are u joking. First post...
    How come people are so desperate?
    Since the project has raised prices, there are demand.
    No need to worry about people buying.
    Singporeans are very rich one.
    DOn't worry, it will sell out soon.

  14. #44
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    Congrats for your purchase You cant compare with alexis and illuminaire, both are joker mickey mouse developments. illuminaire's location is unbeatable, fair enuff but for rental investment it might be under threat given nearby condos such as metz, S@C with better facilities which is especially true if there are oversupply of condos in future. If I am to find a place, I would prefer the latter 2 than illum at anytime.

    As for the buddist lodge if u drive, yes you can avoid the kim yam road but if you were to take a stroll to orchard, u confirm need to take the kim yam road unless u dun mind making a big round to martin rd :P

    Rental wise, mid/high floor not much diff but more for capital appreciation in future if the high flr has excellent views, you can fetch for gd price.. which is true for the sail; high flr/gd facing can fetch almost $19XX> psf and above even at this time lol

    From an investment point of view, we also need to consider about having buildings like temples nearby but if buying for stay as long as you like the place, that is what it matters. For the price of $14XX, well at this current time I can only say it is fairly reasonable based on last yr's sale price for MPR and if prices do not dip further in 2010 when more condos in prime disrticts are thrown into the market

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    Quote Originally Posted by zeq
    Are u joking. First post...
    How come people are so desperate?
    Since the project has raised prices, there are demand.
    No need to worry about people buying.
    Singporeans are very rich one.
    DOn't worry, it will sell out soon.
    lol different pple have different needs. Some buy for stay, some buy for investment, some i see u buy i oso muz buy otherwise will lose out.. having said that MPR also has quite a fair number of foreign buyers.. about 35% or so

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    lol yeah I can say SG all very rich... the students I see in uni some even drive beemer or sports cars..

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    Quote Originally Posted by dtrax
    lol yeah I can say SG all very rich... the students I see in uni some even drive beemer or sports cars..
    There are 70000 millionaires in Singapore, what do u expexct?
    anyway, i see no big deal if students drive beemers to sch if their parents bought the cars for them. For those students who work for their money and earn the beemers, that i hold in high regard. My

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    Quote Originally Posted by dtrax
    lol different pple have different needs. Some buy for stay, some buy for investment, some i see u buy i oso muz buy otherwise will lose out.. having said that MPR also has quite a fair number of foreign buyers.. about 35% or so
    i am not a rich guy who can buy multiple properties for investment. haha. for me its a matter of balance of a home that i like to stay in and a place that can be rented out in future if needed.
    i agree with you regarding the capital appreciation of high floor units but for martin res, the high floor studio all face an empty plot of land. its not nice to live in fear of being boxed up should a new development crop up in next few years.
    as for the buddist lodge, i presume the developer are not suckers and would have factored that in. otherwise the development may not have so much land devoted to facilities to attract pple or the psf may have been higher.

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    I fully agree !!


    Quote Originally Posted by sufri
    anyway, i see no big deal if students drive beemers to sch if their parents bought the cars for them. For those students who work for their money and earn the beemers, that i hold in high regard. My

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    Hmm...news on TV reported 15 out of 40 units launched today were sold without any adverts. I wonder how the response will be like tomorrow when the adverts for the official launch are splashed on newspapers.

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    Default Maintenance fee

    BTW what is the maintenance fee for 1 and 2 bedroom type?

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    Quote Originally Posted by cysnotts
    BTW what is the maintenance fee for 1 and 2 bedroom type?
    approx 250-290

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    Default Congrats to Zeq !

    Congrats my friend !

    I do agree with the other post about 2 persons staying in a studio unit ...

    After a while (if you have bad habits like me), when u start to collect my things in your apartment, you will realised studio is just too small ...

    Me currently staying alone in a 630+ sqft studio, after 1 year, I find it is just too smallish ...

    But dont worry, but then u may have made enough from this studio to buy a 2BR ...

    Welcome to the world of condos !

    YFG

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    Default Skyhigh prices

    Just called up showroom today. i was amazed that there are still high floor 1 rm left. then i heard the price. 24+ flr is selling 1777psf upwards.

    apparently only got south facing (rivergate facing) left. pool facing all gone. actually i quite surprised cos the pool facing is quite blocked. plus its low floor. only up to 13 floors. yet all got sold out very fast.

    i would think that the south facing is better as the high floors will have superb unblocked views. i suppose pple think the premium charged by developer is too high for the view

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    Some pics of the site and its surroundings. High floor south facing units should have quite a view.
    Attached Images Attached Images

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    Quote Originally Posted by proud owner
    the higher floor of rivergate is not blocked ...

    regency park is not blocked ..

    its true that most RV condos are blocked in many directions ...

    i see Wharf can be really bad ... blocked in almost all directions
    no lah the wharf front facing not that block wat.

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    Quote Originally Posted by pebbles
    Some pics of the site and its surroundings. High floor south facing units should have quite a view.
    you took from urbana? can i know which floor is this taken from?

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    Quote Originally Posted by eng00701
    you took from urbana? can i know which floor is this taken from?
    Yup. Above the 30th floor. Cheers!

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    Quote Originally Posted by pebbles
    Yup. Above the 30th floor. Cheers!
    oh thanks!
    are you able to take pics from other direction? the north facing ones? the ones facing riviera. i wonder what their roof looks like.

    thanks in advance.

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    Quote Originally Posted by eng00701
    oh thanks!
    are you able to take pics from other direction? the north facing ones? the ones facing riviera. i wonder what their roof looks like.

    thanks in advance.
    Here you go!

    Attached Images Attached Images

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