You read my mind. Landlease is an established developer but relatively new player in Singapore. Many have underestimated their holding power. For those who invested in Australia will know what I mean. So yes, if Phase I can be over-subscribed 3.5 cheques to 1 unit, Phase II will not be too far behind despite raising prices of ~5-8% per psf on average. >$,2000 psf has already been broken for Phase I so lets see more of it in Phase II?
Our psychological threshold for city fringe has always been $2,000psf and below. Many complained and in shock about this. I too have been guilty of that back in 2015 until 2017 where I made a move for this project.
Today onwards will be that tipping point but SPH has already caught up whether we like it or not in the next few months. Market demand will tell. I still hold my ground on micro-location factor. Not all city fringe will enjoy this. I am 50:50 on this site.
http://www.businesstimes.com.sg/comp...-bidadari-site
Regardless there is about another SGD $10+ billion en-bloc liquidity to fill the market for the rest of 2018 to 2019. We are about nearly 1/2 way through only.
in case u had missed the news, https://www.businesstimes.com.sg/com...es-at-landmark
"Condominium units of The Woodleigh Residences, ranging from two to four bedroom units, are likely to priced at above S$2,000 per square foot (psf) when the development is launched, likely in September, sources say."
that may be why landlease may chicken out. hehehe.
Propvestor, Phase II sales started today - any news on units sold?
or is it multiple units tomorrow and single unit buyers ballot on sat?
5th April: Phase I owners get first dip into choice units
6th April: Multiple units second dip
7th April: Public/Single units
I am not participating in any of the above.
If I have updates on the units sold from my agent, I will let you all know.
Which other micro-locations do you think worth considering from investment perspective?
Ain't that question worth a few more dimes than 2 cents.
For now, I'm vested in these 'micro-locations' across D7 (Duo+0.5km radius), Dunlop Street (+0.3km), D14(PLQ only) and D15 (along Meyer Road only). I have limited insights in OCR properties and that has always been my investment blindspot. IMHO, focus is very important now as I have limited resources and close to 40. Playing it safe as I get older. I selected my Duo unit in literally 8 seconds when turn is called. Foolhardy or stupidity, either way time will tell but it has gone up $400 psf since last transacted price.
For what I am looking at next, I play that close to my heart.
2 cents,
PropVestor
those facebook photos show full house balloting for both park place and the verandah today
Feels like 2007 again.
FB says 85% sold for PLQ.
1 bedroom *100% Sold*
2 bedroom compact *100% Sold*
2 bedroom suite *667sqft from $1.345mil*
2 bedroom premium *100% Sold*
2 dual-Suites, *last 2 units*
Unofficial sources, please don’t quote me.
LL should be pretty happy to further raise prices down the months.
Amazing, at prices of excess of 2k psf? Once the market heats up it will chug along for at least 2-3 years. Good news for those who took the plunge against market conditions past year or two.
I expect more grandfather stories from a certain lady bear in her blog soon, for eg, how property actually makes singaporeans sad.
market is heating up slowly ... enblocers not started yet.
Bought in 2009. Never looked back. Prices already doubled and rental has already helped me to pay off 80% of my loan. Once the remaining 20% is paid off, will have full rental every month. Why sad? lol.
I know some people are saying prices will crash since 2010 and didn't enter the market. 8 years of rental is easily 200-300k. Prices didn't even drop and is still going up. Already lost opportunity cost of coming to half a million. That is sad I agree.
There will be certainly another down cycle which some will feel happy again. Need to factor in inflation, interest rates and opportunity costs while waiting for that 'happiness streak of blood on the streets'. I don't fancy that as time is not something we can buy back.
For those vested, we make hay as the sun shines. $2K+ psf for certain city fringe areas will be the norm as this psychological barrier breaks. Once CCR luxury pulls even more quickly to $3K-6K range, it will be a time of reckoning.
I have serious doubts I have the ammo for these CCR prices in the future. Then its time for me to look elsewhere.
There are attractive CCR units actually. Rental yield is even more decent than many other new launches like Tapestry. Just need to look in the right direction.
It was only 12 years ago when new launch in D11 like park infinia at wee nam was selling at 850psf.....time flies.
It takes quite alot of time and luck to nett those CCR good value units. If you are full time tending a business like myself, its hard to keep tabs all the time. I have always wanted to go for mortgagee sale to see what it is like but when I think of the 'bloodshed' behind it, I think better not. Some money are not meant to be made. That is why I will never really be successful in property investing. Saturday 1/2 day do community work. Weekday earn enough to feed my 2 kids and wife. Money cannot buy happiness and lost time.
2 cents,
PropVestor (out of ammo and can't reload)
"As of Sunday, 8 April 2018, a total of 84% of the entire project has been sold."
https://www.iproperty.com.sg/news/st...dences-at-plq/
Propvestor, to me, I can see you're doing pretty well already. Keep up the good work!
Congrats on the sales so far, gonna be a sell out soon I reckon.
https://www.propertyguru.com.sg/prop...erage-2000-psf
Thanks bro. I think likewise for yourself. Keep charging!
For those who think you got the best deal, best to keep it to yourself.
Case in point: When I knew someone in Duo bought their high floor unit for $1,600psf back in 2013 (multiple units purchase), I laughed at myself for $1,800psf. TMD, no end to it. ;p
96% PPR sold and 3 awards from EdgeProp later, PLQ is shaping up on schedule.
https://www.instagram.com/payalebarquarter/?hl=en
Offices are close to 80% pre-committed.
https://www.dbs.com.sg/private-banki..._committed.xml
Cant wait to see the offices and mall opening soon.
Does anyone know when the offices and shopping malls are opening in 2019? Showflat is permanently closed.