New development at Chay Yan Street. I think it is supposed to complement Twin Regency and Regency Suites in the same neighbourhood, both of which are also by UOL.
The Regency @ Tiong Bahru will have 158 units.
Spy photos coming soon...
New development at Chay Yan Street. I think it is supposed to complement Twin Regency and Regency Suites in the same neighbourhood, both of which are also by UOL.
The Regency @ Tiong Bahru will have 158 units.
Spy photos coming soon...
Preview started last weekend on 14 Oct (sat). When I visited the showflat last weekend, units were already be snapped up. Its amazing how fast its moving. Going rate was about S$800 psf then. I'm pretty sure the prices were jacked up now.
It has since moved onto the softlaunch phase this week. I'm pretty sure that UOL will soon launch this project officially. By then, ads will start appearing in the newspaper and/or television.
UOL is certainly making an impact in the Tiong Bahru area.
Any complaints please PM me
I like UOL, they are a real solid property company fully diversified into hotels, residential, and commercial and this pedigree shows in their condominiums. Quality is the word. Not to mention that they are always flush with cash, even more cash recently.
Their residential developments rank among the best in Singapore in terms of comstruction, design, finishing, quality and value for money. Which is more than I can say for some other developers.
Last weekend, UOL launched The Regency at Tiong Bahru at an average price of $830 per sq ft. Zao Bao reported that they have already sold 54 out of the 158 units in the soft launch the previous week.
to the best of my knowledge, this property is almost sold out (probably less than 10 units left). another run-away success by UOL.
of late (i.e. last couple of years), all their properties including twin regency, newton suites, regency suites, southbank were sold out within a couple of weeks (probably less than 1 month) of the launch. all are freehold except southbank. both regency suites and southbank has SOHO units.
even during the low/down period in 2004. i'm just amazed at the public's reception of their property launches. all snapped up, so very quickly, just like that.
it is my understanding that some units (probably higher floor ones) at the regency is selling for about S$900 psf. tiong bahru is now in the S$900 psf region now???
similarly .... newton area has now gone beyond S$1,200 and is now probably at S$1,400 psf. ardmore area is now S$2000+ psf? sentosa condos(leasehold) > S$1,500 psf. river valley now > S$1000+ psf
its jaw dropping. are the prices going up too fast??? its crazy.
low-end condos, ECs and HDBs aren't moving as yet. its only the high-end and mid-tier ones that have been moving.
just my 2-cents worth
You know what is scary? The number of sub sales advertised in the papers. For example, ook at the number of subsales advertised for The Sail at Marina!!!! What does this mean? It means only one thing: speculation, and this whole thing may turn out to be a bubble.Originally Posted by jack lemon
Why pay so much to live in Tiong Bahru? For $900 psf, why not try Bukit Timah Road or Dunearn Road district 10 and 11. There are good deals around Duchess, Sixth Avenue, Watten Estate, Swiss Club, Trevose, and Shelford Roads. Your neighbours will be more genteel, more educated, and likely to be from respectable backgrounds and families. Many young doctors, lawyers, bankers, corporate management type and respectable businessmen live here, close to their parents' landed homes. They also probably went to elite schools located in district 10 and 11.
In Tiong Bahru, I am afraid that you will be living with people from neighbourhood schools, from HDB backgrounds, but just recently made a little money and want to show off. Any person who came from D9, 10, 11 backgrounds will never live in Tiong Bahru - trust me. So get your money worth! If you want to upgrade to a condo with decent neighbours, move to where the genteel people are!
Sorry if I sound snobbish, I am just stating an opinion from my experience and my circle of friends. I am sure many people will agree with me that $900 psf is too much to pay for a Tiong Bahru or Kim Tian location when you can easily get one in Duchess or Shelford. The addresses sound a lot better too!
yes. you do make sense.
I think that what some people want is the location and proximity to the city. 6th ave would be a nice area to live, but it is a little far from the CBD if you work there. There are terrible jams to the CBD in the morning and coming from the CBD in the evening. The good things are: near good schools and a greener, more spacious lifestyle.
Actually, places like Little India's City Square and Tiong Bahru's Twin Regency, Regency Suites, and The [email protected] are the perfect city living residences for singles and young couples working in the city. Very close to amenities, close to the workplace, and best of all costing half of what certain places in Orchard, River Valley, and Newton would cost. Bang for the buck, my friends.
To each his own!
Tiong Bahru is becoming a popular place to stay, just like Balestier. Time passes, things change. We must also move with the times.
It's easily accessible to a lot of places like Orchard, River Valley, CBDs. Anyone bought this condo?
Very Snobbish. Bukit Timah area is good for those who want to infect their lung with free radicals. The huge volume of traffic is definitely bad for one's health if you live within the vicinity. If you want good address, go Sentosa or Orchard Road.
yes, it makes better sense.
Hi, does anybody have any news or knowledge on the prices of Twin Regency and Regency Suites now?
Both were selling at around $1300 per sqf when I viewed several units in Twin Regency 2 months back.
Newbie
I heard it is with $1,300 psf and another asking for $1,400 psf for Regency Suites, which has a better location and ublocked view to CBD (if not wrong I heard can see Singapore Flyer and Fireworks in Marina) than Twin Regency.
Can see the firework from which floor?
Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!
..........
"..... you need to be technically correct when you post.
Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.
Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."
Just f.y.i..
The last "technical recession" occurred in 2002.
The last "recession" occurred in 2001 when the GDP growth was -2.4%.
Oct 10, 2008
S'pore slips into recession
# MTI lowers 2008 forecast to 3%, from earlier 4-5%
# MAS moves to ease monetary policy
# Inflation has peaked
SINGAPORE has slipped into its first recession since 2002 after its economy declined for a second straight quarter, prompting the central bank to ease monetary policy favoring gains in its currency in an effort to confront the downturn.
The Ministry of Trade and Industry (MTI) on Friday also revised downwards Singapore's full-year growth forecast to around 3 per cent from an earlier estimate of 4 to 5 per cent, citing a slowdown in the global economy and key domestic sectors.
At the same time, the Monetary Authority of Singapore said it was easing monetary policy for the first time in more than four years. It said on Friday it is shifting to a 'zero-percent appreciation' stance and will intervene to reduce "excessive volatility'.
There will be no re-centering of the band of change in the so-called width, the range in which it is allowed to trade, said MAS.
Central banks around the world are loosening monetary policy and cutting interest rates as an escalating global credit crisis that's toppled banks in the US and Europe saps growth.
MTI said the impact of the worsening US financial crisis and the deepening credit crunch had weakened US consumer sentiment, which will affect demand from Asia and the rest of the world.
On a seasonally adjusted quarter-on-quarter annualised basis, real GDP declined by 6.3 per cent in the third quarter after contracting 5.7 per cent in the previous quarter, the ministry said.
While it did not describe the economy as being in recession, a technical recession is generally defined as two consecutive quarters of contraction in economic output.
Economists polled by Dow Jones Newswires had forecast a 0.3 per cent quarter-on-quarter rise in gross domestic product, the value of goods and services produced in the economy.
Singapore's last technical recession occurred in 2002 while the most recent full-scale recession was in 2001, when the economy contracted 2.4 per cent during the year.
Compared with the third quarter of last year, the ministry said Singapore's economy contracted by 0.5 per cent in real terms, against 0.8 per cent expansion foreseen in the Dow Jones poll.
In August the government had revised down its full-year GDP forecast to 4.0-5.0 per cent but since then, external economic conditions have deteriorated more than expected and some sectors of the economy have weakened significantly because of industry-specific or domestic factors, the ministry said.
'Singapore's export-oriented sectors, such as manufacturing, will be affected,' it added.
Last year the economy expanded 7.7 per cent but after years of growth, signs of a slowdown emerged with recent disappointing trade data and contractions in the important manufacturing sector, which includes the export-dependent electronic and pharmaceutical industries.
In August, key non-oil domestic exports fell for the fourth straight month, with electronic shipments continuing a decline begun in February 2007, while manufacturing dropped by 12.2 per cent.
The August fall in output followed a 21.5 per cent decline the previous month.
The government's preliminary third-quarter GDP estimates are based largely on data from July and August, and are subject to revision.
Inflation peaks
Inflation, which reached a 26-year high earlier this year, has peaked, said MAS. Consumer prices will rise between 6 per cent and 7 per cent this year, and gains will ease to between 2.5 per cent and 3.5 per cent in 2009, it predicted.
'Against the backdrop of a weakening external economic environment and continuing stresses in global financial markets, the growth of the Singapore economy is expected to remain below potential in the period ahead,' said MAS.
'Inflation is expected to trend down in 2009 as the global and domestic economies slow.'
Exports slump
Singapore's US$161 billion (S$239 billion) economy declined 0.5 per cent last quarter from a year earlier, compared with a revised 2.3 per cent gain between April and June.
Growth has deteriorated as a slump in export demand forced factories to cut production, tourist arrivals faltered and a real-estate boom ended, reported Bloomberg news.
The island's manufacturing industry, which accounts for a quarter of the economy, contracted 11.5 per cent last quarter from a year earlier, compared with a revised 4.9 per cent drop in the previous three months, according to today's report.
Singapore's government expects exports to decline as much as 4 per cent this year, and the island's shipments of electronics goods have fallen for 19 consecutive months.
Financial services
Services climbed 6.1 per cent in the third quarter from a year earlier, slowing from a 7 per cent pace in the previous three months. The city-state will probably miss a government target of 10.8 million visitors in 2008, the tourism board said on Sept 23, after visitor arrivals dropped 7.7 per cent in August.
'The financial services sector is likely to see slower growth in the coming months as the ongoing global financial crisis has heightened uncertainties for sentiment-sensitive segments such as stocks trading and fund management activities,' said MIT.
The construction industry grew 7.8 per cent, easing from a revised rate of 19.8 per cent in the previous quarter.
Singapore's benchmark Straits Times Index slumped 7.3 per cent to its lowest level since November 2004 on Friday in opening trade after the economic data and policy statement.
The Singapore dollar rose to $1.4724 per US dollar after the central bank's announcement compared with $1.4780 as traders adjusted positions after the widely expected move. -- AFP, REUTERS
So these are preliminary numbers based on data from July and August. When can we get the final GDP figure?
If Q4 growth is higher than Q3 growth, does that mean we need another 2 slowing quarters after Q4 to get another technical recession?
Property Market Definitely Heading South
Quoting from someone's reply from Metropolitan forum:
Have been observing the average selling price for Metropolitan for last 9 mths and seems that currently the average asking price has been dropping gradually to around $850 - $900 psf from $1000 psf. Looks like folks holding on to these units are getting the jitters with TOP drawing nearer. Seeing similar trend with Regency Suites, Beacon etc.
Looking at gloomy economic situation right now, which many think would worsened in the next 6 - 9 mths and likely to last 2 - 3 years or more, the prices would definitely fall much more steeply than the last couple of months. Even SM Lee said that it would take at least 3 to 5 years to recover.
Unless the current owners are able to rent at the current monthly rental rates, they would have to start digging into their pockets to top up the monthly mortgage. Example, taking from URA site, Q3 08 25th and median percentile $ rental psf pm for Tanglin Regency is $3.61 and $4.22 psf respectively, a Metropolitan 1076 sqft unit rental is likely to yield around $4K rental per mth, which is barely enough to cover the mortgage. If the economy is to continue heading south in the next couple of months, the buyer would be considered fortunate if he/she is able to fetch similar Q2 07 price which is $3.11 psf pm to $3.30 psf pm for 25th and median percentile rental pm. With the additional surpluses of condominium available in 2009 onwards plus gloomy economy, likely the rental $ psf pm would be lower than that. With all that taken into consideration, it would be very high chance that the buyer would need to top up from his own pocket to finance the mortgage.
To make things worst, banks would definitely ask the buyer to top up the difference if the current property valuation is lower that the price he/she paid for at the pt of purchase.
To sum up, it looks like a ticking time bomb waiting to explode in a matter of time.
Bank will not ask you to top up lah.
SM Lee says we can go through this period lah.
If it is so bad, how come you can still talk cock here? Doesn't make sense at all!
Read the following forum on "negative equity" and tell me if it is true.
http://forum.channelnewsasia.com/vie...3076b5da87baee
As per what they say lor!
So must go for long-term loan?
Newbie
Based on current market cond. What is the current asking psf ?
Thanks
Newbie
Project Name-THE REGENCY AT TIONG BAHRU(Former BO BO TAN GARDENS)
Developer-United Regency Pte Ltd(UOL Group Limited / UIC Limited)
Property Type-Condominium
Tenure - Freehold
Total Units - 158
Completion Date - Est 31 Dec 2010
District - 3
see 720 degree virtual tour from :
http://www.virtualhomes.sg/theregencyattiongbahru
Newbie
DN
I just visited the link again. Looks like Regency @ Tiong Bahru is going to be so so so screwed, completed flanked and blocked by HDBs!!
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