[email protected] Chiat Terrace (D15-FH)

[propertyinvestor]

It is a 39 unit boutique development along Joo Chiat Terrace with a pool at the top floor. TOP by 2010. Any comment regarding this development by Team Build? Any upside on this project which will be about 15 to 20 minutes from the future east coast MRT and Paya Lebar business Hub. Will like to listen to the advice from the current Celestia owner and those potential D15 buyer. Thanks

[DN]

Celestia has a good location. I understand it is now offering good discount (10% off), interest abortion scheme (loan interest pay by developer until TOP) and other freebie.

[Buyer1]

Celestia has a good location. I understand it is now offering good discount (10% off), interest abortion scheme (loan interest pay by developer until TOP) and other freebie.

It is strategically located beside still road opposite Telok Kurau. A stone throw to Katong. With the future Marine Parade MRT line and Paya Lebar business hub, I will expect a good upside for this development. I am vested in D15 condo, can consider now since the developer is throwing in some freebies. Take opportunities when the market is down.

[Wealth builder]

Celestia has a good location. I understand it is now offering good discount (10% off), interest abortion scheme (loan interest pay by developer until TOP) and other freebie. Left only about 19 units.

[Wealth builder]

Celestia has a good location. I understand it is now offering good discount (10% off), interest abortion scheme (loan interest pay by developer until TOP) and other freebie.

[Unregistered.....]

Think you got to be careful. I had a lot of problems disposing of my unit at aspen loft (also joo chiat terrace) ended up making a loss on it (> 10%) even though i sold in 07 (peak of property cycle). Problem i had when selling was when potential buyers asked where is it located I and answered joo chiat terrace they did not even want to view.

[buy]

how much?

thanks

[D15 buyer]

how much?

thanks

Depending on the floor area. Typically range from $700+PSF for pen house and $900+ PSF for 1+1 studio.

Anyone can comment how the future paya business hub affect the pricing of condos in D15?

[buy]

I think the prices will increase more or less

[paperplate]

Think you got to be careful. I had a lot of problems disposing of my unit at aspen loft (also joo chiat terrace) ended up making a loss on it (> 10%) even though i sold in 07 (peak of property cycle). Problem i had when selling was when potential buyers asked where is it located I and answered joo chiat terrace they did not even want to view.

Is it true that Joo Chiat suffers the image as bad as Geylang?

I drove to Joo Chiat once in a while for my fav 'teochew mui', spotted some sleazy night clubs....

[Unregistered.....]

actually i find the location pretty convenient. Eg easy access to east coast park, parkway, ecp, pie, mrt, food places.

[East condo owner]

Is it true that Joo Chiat suffers the image as bad as Geylang?

I drove to Joo Chiat once in a while for my fav 'teochew mui', spotted some sleazy night clubs....

I personally do not think so. Drive past Celestia (Joo chiat terrace). It is much nearer to Still road rather than the "night spot"

I will consider it quite worthwhile base on the current pricing in view of "more happening" coming out from marine parade mrt and paya business hub.

[Star Investor]

Joo Chiat / Katong is quite a nice place and strategically located near famous eateries, pubs, lounges and walking distance to Parkway Parade and East Coast Park. Just a right turn & out u are on the ECP to town within 10 mins. Nice schools around too for the kids. Definitely a magnet to expats who get a taste of Asian living all lumped together. I foresee this is a much more liveable place than Lavendar or even Kallang till it gets developed. So price is comparatively cheap and good for future investment.

[D15 buyer]

Joo Chiat / Katong is quite a nice place and strategically located near famous eateries, pubs, lounges and walking distance to Parkway Parade and East Coast Park. Just a right turn & out u are on the ECP to town within 10 mins. Nice schools around too for the kids. Definitely a magnet to expats who get a taste of Asian living all lumped together. I foresee this is a much more liveable place than Lavendar or even Kallang till it gets developed. So price is comparatively cheap and good for future investment.

Yes, I do agree with you. Don't forget the future Paya lebar business Hub and the revamp of Geylang serai. I personally will think that there should be alot of upside in that area.

[Star Investor]

Yes, I do agree with you. Don't forget the future Paya lebar business Hub and the revamp of Geylang serai. I personally will think that there should be alot of upside in that area.

Yes brudder or sista, may we reap the fruits of labor soon! HaHa! I was checking out the stretch of eateries along Katong on one fine weekday evening, u be surprised the number of expats staying around that area. As I said, the location is exotic enuf and at current price, u won't go wrong with the investment. Hopefully, LTA does not implant ERP stations there in future!

[D15 Buyer]

Yes brudder or sista, may we reap the fruits of labor soon! HaHa! I was checking out the stretch of eateries along Katong on one fine weekday evening, u be surprised the number of expats staying around that area. As I said, the location is exotic enuf and at current price, u won't go wrong with the investment. Hopefully, LTA does not implant ERP stations there in future!

Yes. That is why I vested in D15 for investment and stay in D19. Hope expats will like the area after the 1st IR starts.

[Sniper]

Joo Chiat / Katong area will be more attractive than Telok Kurau IMHO even though it is only separated apart by a STILL ROAD!

And from there, move southwards towards Parkway Parade or Amber Road again separated by a road called EAST COAST ROAD, one will find several high rise condos that command 100 to 200 psf more!

The price differential in the area within D15 can be pretty interesting.

[D15 buyer]

Joo Chiat / Katong area will be more attractive than Telok Kurau IMHO even though it is only separated apart by a STILL ROAD!

And from there, move southwards towards Parkway Parade or Amber Road again separated by a road called EAST COAST ROAD, one will find several high rise condos that command 100 to 200 psf more!

The price differential in the area within D15 can be pretty interesting.

Anyone can share how the recent volume surge in mass market property affect the mid tier condo in the D15? Do you think the slight price correction in the mass market condo impact on the D15 mid tier condos pricing in the near future.

FYI - Talking to a senior management of a boutique developer just recently. He mentioned that he will rather delay launches than to slash price. For financial wise, he said as most of the materials had already bought, there is no hurry for him to push out his units at a lower price.

[worship angmoh]

Your suffer from colonial worshipping issit? See ang moh so happy. Also, a lot of Chinese and indians and Vietnamese. Too touristy also no good.

Joo Chiat / Katong is quite a nice place and strategically located near famous eateries, pubs, lounges and walking distance to Parkway Parade and East Coast Park. Just a right turn & out u are on the ECP to town within 10 mins. Nice schools around too for the kids. Definitely a magnet to expats who get a taste of Asian living all lumped together. I foresee this is a much more liveable place than Lavendar or even Kallang till it gets developed. So price is comparatively cheap and good for future investment.

[ANGMOH TUAKEE]

Your suffer from colonial worshipping issit? See ang moh so happy. Also, a lot of Chinese and indians and Vietnamese. Too touristy also no good.

HELLO I AM ANG MOH. U ALL TALK COCK HERE WHILE I AM ****ING YOUR GIRLFRIENDS AND WIVES BEHIND YOUR BACK. THOSE LOCAL WOMEN LOVE MY BIG WHITE TUAKEE, AS WELL AS HANDSOME FACE AND STRONG BODY, PLUS MY BIG AND THICK WALLET. HAHAHHAHAHHAHAHAHAHAA YOU POOR LOCAL WIMPS HAVE NO CHANCE. LAH! HOR! HAH! SOUR LOCAL GRAPES SUCK. YOU CANNOT GET YOUR LOCAL GIRL THEN YOU BLAME ANGMOH. HELLO IT IS THE LOCAL GIRLS WHO THROW THEMSELVES AT US, NOT OUR FAULTS, RIGHT?

[DW]

Dear D15 buyer,
I also seriously evaluating if the current price level at D15 is something which will potentially dive further. Personally, as I am buying for own stay, if the differential between
(i) buying now and
(ii) the supposedly trough of such a true local minimum in property prices (perhaps in the future) is not more than 10%,
I guess it is something I can live with. Afterall, no one really know when is the true trough of the property market for the specific area of interest.

In respect of your discussion with the boutique developer, their views are indeed valid and interesting too. However, this said, I wonder what are developers' view on working capital requirement and the squeeze on liquidity (and if their firms are indeed financed by bank facilities), how do they intend to manage their cashflow given the intention is to sit through the curent pricing and to launch only at a later stage.... ....

Anyone can share how the recent volume surge in mass market property affect the mid tier condo in the D15? Do you think the slight price correction in the mass market condo impact on the D15 mid tier condos pricing in the near future.

FYI - Talking to a senior management of a boutique developer just recently. He mentioned that he will rather delay launches than to slash price. For financial wise, he said as most of the materials had already bought, there is no hurry for him to push out his units at a lower price.

[D15 buyer]

Dear D15 buyer,
I also seriously evaluating if the current price level at D15 is something which will potentially dive further. Personally, as I am buying for own stay, if the differential between
(i) buying now and
(ii) the supposedly trough of such a true local minimum in property prices (perhaps in the future) is not more than 10%,
I guess it is something I can live with. Afterall, no one really know when is the true trough of the property market for the specific area of interest.

In respect of your discussion with the boutique developer, their views are indeed valid and interesting too. However, this said, I wonder what are developers' view on working capital requirement and the squeeze on liquidity (and if their firms are indeed financed by bank facilities), how do they intend to manage their cashflow given the intention is to sit through the curent pricing and to launch only at a later stage.... ....

Currently, we are looking around at other boutique development especially at the katong area as we think there will still be a substantial upside in this area. (After Meyer and Amber)

Looking at the current situation, we are still bullish on the singapore property market from next year onward especially in the D15 area. But we are not sure whether will the current price head north or south? So we decided to make an appointment with the CEO of one of a boutique developer. He mentioned to us that at present moment, as most of the developer had a very healthy "books" in the last 1-2 years, they were actually not too worry unless the situation dragged for another 1-2 years.

Furthermore, from last year, in view of the sub prime crisis, most of the boutique developer had already prepared the necessary stock like lifts, electrical and plumbing accessories needed for the development. Thus most of them had strong holding power. He said at times, agents might accept cheques from potential buyers that were only willing to buy the unit at a discounted price of upto $50PSF to $100PSF. But he said for his development, he will never accept it when the cheques (with discounted prices) were presented to him. He also mentioned that in comparison to those units sold in the "prime time" to those unsold units, these were only a mere 10% or lower. Thus they had strong cash flow and would delay launches till situation improved, and that he said would probably very soon.

[Star Investors]

Hi folks, we are starting to witness more launches recently and developers trying their luck at $1000 psf onwards in D15. Just take a look at last weekend Straits Times.

I predict another property peak will be coming soon by year end. But on a longer term basis, in general, all property prices will rise. Just take a look at new HDB prices...

In the next 5 to 10 years, you may not find a 5 room HDB flat costing anything less than $500K.

[D15 buyer]

Hi folks, we are starting to witness more launches recently and developers trying their luck at $1000 psf onwards in D15. Just take a look at last weekend Straits Times.

I predict another property peak will be coming soon by year end. But on a longer term basis, in general, all property prices will rise. Just take a look at new HDB prices...

In the next 5 to 10 years, you may not find a 5 room HDB flat costing anything less than $500K.

Yes. I also think so. That is why I am now busying looking at Katong area. Anything below $1000PSF should be a good buy now. I hope. Better catch it before the next wave.

(Just like I had previously "catch" the 2006 to mid 07 market boom. Now still holding on to a potential 40% profit at other district.)

[buy]

any good catch in katong?

[D15 Buyer]

any good catch in katong?

I am looking at trembling and Joo chiat area. Condo at trembling being very near to Katong mall command a higher price. I think PSF easily range above $1,000 to $1,200PSF (2 to 3 bedder) . However, Joo chiat about 5 minutes drive from Katong mall priced less than $800 (2 to 3 bedder) appear quite a good buy. I think with the enbloc of Katong mall, this area should be worth to look at.... my 2 cents.

[Realistic Buyer]

I think we should all take a step back and analyse the current situation.

Property prices averaging abt $1K ~ $1.2K would mean that a typical 3 Brm of abt 1200 SF would cost abt $1.3M on the average. How would a typical middle class Singaporean be able to afford such prices on the long run?? (let's not talk about exceptional items like en-bloc buyers.. silver spoon families..)

If the cost of property is $1.3M, our average joe would have to loan $1.17M (assume 90% financing). Stretching this over 30 years (with the lowest interest rate of 2.5%), the monthly instalment would amount to $4.6K.

Our average joe would then have to cough up $3.6K cash as the CPF would only cover $1K for home loan contribution (CPF ceiling of $4.5K @ 34.5% contribution @ 65% for ordinary account)

Taking into account credit card bills, home monthly maintenance, car maintenance, kids tution, insurance bills, utilities, income & property taxes, entertainment expenses... our average joe might end up living the Singapore Dream but nigger rich..

Got Credit Card, Condominium, Car, Career & Country Club.. but saving account only $10 dollars plus remaining every month end.. (or even worst.. surviving on credit card rolling to pass month by month)..

I believe some readers might pass sniggering remarks but sad to say, most of what I've commented refer to the common Singapore folk..

[Joe.]

I think we should all take a step back and analyse the current situation.

Property prices averaging abt $1K ~ $1.2K would mean that a typical 3 Brm of abt 1200 SF would cost abt $1.3M on the average. How would a typical middle class Singaporean be able to afford such prices on the long run?? (let's not talk about exceptional items like en-bloc buyers.. silver spoon families..)

If the cost of property is $1.3M, our average joe would have to loan $1.17M (assume 90% financing). Stretching this over 30 years (with the lowest interest rate of 2.5%), the monthly instalment would amount to $4.6K.

Our average joe would then have to cough up $3.6K cash as the CPF would only cover $1K for home loan contribution (CPF ceiling of $4.5K @ 34.5% contribution @ 65% for ordinary account)

Taking into account credit card bills, home monthly maintenance, car maintenance, kids tution, insurance bills, utilities, income & property taxes, entertainment expenses... our average joe might end up living the Singapore Dream but nigger rich..

Got Credit Card, Condominium, Car, Career & Country Club.. but saving account only $10 dollars plus remaining every month end.. (or even worst.. surviving on credit card rolling to pass month by month)..

I believe some readers might pass sniggering remarks but sad to say, most of what I've commented refer to the common Singapore folk..

No La, me "average Joe" will never consider to buy condo in D15. I am very "realistic" and I can only afford HDB la.

Thanks,
Your neighbour "Joe"

[UnregisteredU]

Joo Chiat / Katong area will be more attractive than Telok Kurau IMHO even though it is only separated apart by a STILL ROAD!

And from there, move southwards towards Parkway Parade or Amber Road again separated by a road called EAST COAST ROAD, one will find several high rise condos that command 100 to 200 psf more!

The price differential in the area within D15 can be pretty interesting.

Katong area is better than Telok Kurau, but not Joo Chiat.

[Ah Huat]

I think we should all take a step back and analyse the current situation.

Property prices averaging abt $1K ~ $1.2K would mean that a typical 3 Brm of abt 1200 SF would cost abt $1.3M on the average. How would a typical middle class Singaporean be able to afford such prices on the long run?? (let's not talk about exceptional items like en-bloc buyers.. silver spoon families..)

If the cost of property is $1.3M, our average joe would have to loan $1.17M (assume 90% financing). Stretching this over 30 years (with the lowest interest rate of 2.5%), the monthly instalment would amount to $4.6K.

Our average joe would then have to cough up $3.6K cash as the CPF would only cover $1K for home loan contribution (CPF ceiling of $4.5K @ 34.5% contribution @ 65% for ordinary account)

Taking into account credit card bills, home monthly maintenance, car maintenance, kids tution, insurance bills, utilities, income & property taxes, entertainment expenses... our average joe might end up living the Singapore Dream but nigger rich..

Got Credit Card, Condominium, Car, Career & Country Club.. but saving account only $10 dollars plus remaining every month end.. (or even worst.. surviving on credit card rolling to pass month by month)..

I believe some readers might pass sniggering remarks but sad to say, most of what I've commented refer to the common Singapore folk..

No money buy D15, then go buy D17/D18 lah

Head not so big, don't wear so big hat