Dakota Residences (D14, 99 year Leasehold, Ho Bee & NTUC Choice Homes)

[Condorich]

Thank you for your pro advice. My purpose is for investment. I have 2 properties ( 1 HDB and 1 Freehold - All in the North) which is for renting(HDB) and for staying (FH). I personally feel the price will go up further after the Circle Line is complete and with the Waterbank project helping to boast price further ( esp. for those who wish to buy it to live and need a unit immediately). I have friends working in foreign MNCs in the City Hall/Raffles Place area and they mentioned that expatriates like Dakota area because of the proximity to MRT station and also the future development of the Kallang Basin, not forgetting the famous Old Airport Road Food Centre. I drove there a few times and find that it is very accesible to ECP, PIE and even KPE. I thinking of renting it at around $4k for a 2 bedder. As you mentioned, if I go for short term benefit, a profit of 200k is not too bad either.

Yes, but there should be more when the whole area (D15) is developed. You have a head start over the "Waterbank" next door. Perhaps it would be good to wait until a year before next door TOP. No need to budge now or do anything, you won't find another unit at the price you bought nowadays and that is why there are buyers willing to buy from you. However, if new developments at Kallang Basin is near or lower than yours, you might regret later on (depends on the general state of the local and global economy).

I believe a bird in hand is always better than two in the bush. The decision is yours No one can predict the future except to expect inflation.

I don't prescribe but I would supposed that you have adequate finanical holding power, (HDB fully paid, FH paid more than 50%, liquid cash above $100k).. If so, why sell? I think you would not also. But you can always let us know.

[Blue]

I would buy and stay in private properties now, then wait till retirement age then sell all my private properties to cash out, and buy a HDB mansonette at Old Airport Road to stay till I RIP. Dakota MRT station is just less than 10 foot steps away.

[Blue]

Thank you for your pro advice. My purpose is for investment. I have 2 properties ( 1 HDB and 1 Freehold - All in the North) which is for renting(HDB) and for staying (FH). I personally feel the price will go up further after the Circle Line is complete and with the Waterbank project helping to boast price further ( esp. for those who wish to buy it to live and need a unit immediately). I have friends working in foreign MNCs in the City Hall/Raffles Place area and they mentioned that expatriates like Dakota area because of the proximity to MRT station and also the future development of the Kallang Basin, not forgetting the famous Old Airport Road Food Centre. I drove there a few times and find that it is very accesible to ECP, PIE and even KPE. I thinking of renting it at around $4k for a 2 bedder. As you mentioned, if I go for short term benefit, a profit of 200k is not too bad either.

Profit of $200K is considered small returns. Hold longer for higher appreciation if you can afford to hold. PM Lee said a golden sentence in his speech not too long ago:" Don't rush to sell off your properties." Obviously, there are more meanings behind this.

With the upcoming developments in this area, you are in for a bigger windfall.

Just look at Southbank. Initial launch during 2006 was only $600+psf. Now doing at $1400 psf. I doubt many first owners would have the strong patience to hold onto their units until it reaches $1400 psf. Most would have sold at $900+psf => $300K profit for a 2 bedder. Then the second owners who bought at $900+psf waited until $1200+psf to sell. Probably now mostly left are the 3rd owners trying to sell at $1400 psf.

What all these means is, don't go for small profit when you are confident to hold longer and confident that prices will rise again bec of the many good amenities coming along the way.

[jlrx]

Propertism would probably advice you to hold them for the long run till retirement or for handing over to next generation.

Pragmatism would probably advice you to sell and take profit. Buy again when it is a good time to buy.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

As a preacher of the PROPERTISM religion, I was about to refute the above statement, when I suddenly discovered that it'll save me much energy by just quoting Blue's post above.

Just look at Southbank. Initial launch during 2006 was only $600+psf. Now doing at $1400 psf. I doubt many first owners would have the strong patience to hold onto their units until it reaches $1400 psf. Most would have sold at $900+psf => $300K profit for a 2 bedder. Then the second owners who bought at $900+psf waited until $1200+psf to sell. Probably now mostly left are the 3rd owners trying to sell at $1400 psf.

To conclude, rather than wasting time selling and buying again trying to second guess the market, you could actually make more money in properties by not doing anything, than by doing lots of things.

[sebas3049]

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

As a preacher of the PROPERTISM religion, I was about to refute the above statement, when I suddenly discovered that it'll save me much energy by just quoting Blue's post above.



To conclude, rather than wasting time selling and buying again trying to second guess the market, you could actually make more money in properties by not doing anything, than by doing lots of things.

I am VERY VERY thankful for all your wise advice. Although I am doing busines myself, I still find that I have lots to learn from all the LAO QIAN BEI in these forum.. I think I will hold and RENT first.. Do you think 4k rental is too high for a 1,000sq ft unit (2 bedder)??? What do you think about the rental rates in Singapore in D14/15 in the next 2-3 years? I presume that it will go up because of the HDB new policy on rental ( need min stay of 5 years before rental) will help to booast the rental market for condo.

[sebas3049]

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

As a preacher of the PROPERTISM religion, I was about to refute the above statement, when I suddenly discovered that it'll save me much energy by just quoting Blue's post above.



To conclude, rather than wasting time selling and buying again trying to second guess the market, you could actually make more money in properties by not doing anything, than by doing lots of things.

TQ very much for all your pro advice. Although I am doing business myself, I find that i still have lots to learn from the LAO QIAN BEI in this forum. I think I will hold and RENT first for the time being.. Is rental of 4k too high to ask for a 2 bedder? Wat do you forsee the rental rates for Dakota area in the next 12 months? I personally think it will be good as HDB have imposed new regulation on renting of HDB flats. This will push some of the tenants to private condo rental. What is your view/opinion on this??

[Condorich]

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

As a preacher of the PROPERTISM religion, I was about to refute the above statement, when I suddenly discovered that it'll save me much energy by just quoting Blue's post above.

To conclude, rather than wasting time selling and buying again trying to second guess the market, you could actually make more money in properties by not doing anything, than by doing lots of things.

He has been right so far. And the way forward is likley to remain so. If you need proof, you have those 20k landed bought 30 years ago and selling at above million or a few millions now.

If we want Singapore property prices to go up, all we need are foreigners (the right ones with money) to be attracted to come and invest in Singapore. How we can do it successfully? It is to allow the earlier foreigners to benefit from our system and spread the word around. In this way, it is a self fulfilling prophecy. Best if we can let the new foreigners take the risk at the cost of each other and along the way, a Singaporean can dump his property when he is ready to take profit. You need proof for that... look at GCB deals above 10-40 millions or more... If propertism is to prevail, there will be no deals at all.

Finally, secret ingredient for success is inflation. Which is no secret at all

[Blue]

TQ very much for all your pro advice. Although I am doing business myself, I find that i still have lots to learn from the LAO QIAN BEI in this forum. I think I will hold and RENT first for the time being.. Is rental of 4k too high to ask for a 2 bedder? Wat do you forsee the rental rates for Dakota area in the next 12 months? I personally think it will be good as HDB have imposed new regulation on renting of HDB flats. This will push some of the tenants to private condo rental. What is your view/opinion on this??

I would reckon rental rate of $3.50 psf for new properties in D14/15/16 is achievable. $4 psf might be a little aggressive but who knows!

My ex-ang moh colleague rents Cote De Azur (beside parkway parade) 2 bedder at $3.4K a mth => approx $3.50 psf.

Another ang moh colleague of mine rents Meyer Rd at near to $5 psf.

Another rents a cluster house in East Coast for $6K per mth.

Another one rents Orchard (Grange Rd) for only $3.40 psf!!!

[devilplate]

34 Dakota Crescent #14-01
99 Yrs From 11/09/2007
$1250
1292
$1615k
29 Apr 10

[Fishsee]

Any idea when DR is going to TOP?

[focus]

Any idea when DR is going to TOP?

http://www.bca.gov.sg/plan_enquiry/S...0435-2007-BP01

Now doing site inspection. So, should be soon if inspection passed?

[focus]

Ok, just went to Dakota and found them doing site inspection. So I went in and took some photos of my actual unit.

I would say it's a very no-frills condo. Not for those who want landscaping and such. So, if want landscape at the same location, then Waterbank is a very good choice. Of course, the best landscaping i've seen so far is Interlace with 800k sqft land and Minton with 400k sqft land.

1) 50m Lap pool good for 5-6 swimmers (depend on whether they do butterfly or freestyle..haha) with aqua-gym hidden between the two blocks

2) 180degrees view. Can see the sea very clearly across the horizon (but rain was coming from east coast,so sea is blurrish)



3) Huge Living rm balcony for me to do a 3rd living space -Will be doing something similar to Interlace with waterfeature

4) Living-cum-Dining room (probably will extend into Balcony if I find it too cramp)

5) Kitchen

6) 2 common bathrooms of the same design (Dunno whether can squeeze in a bathtub at the shower cubicle

7) Masterbedroom bathroom with bathtub

8) Masterbedroom

9) Masterbedroom closet (will add more closet here)

10)Masterbedroom balcony with great views too. (Doing coffeetable and outdoor chair plus outdoor storage)

11) 3 common bedrooms with standard-size Room good enough to fit a queen size bed plus study desk on baywindows. (This room no view, the other 2 is east-coast view)




But..the best I've seen so far is Marina Bay Residences ... FREAKING NICE! Both also Residences but 同名不同命

[august]

wow! swee lah!

[devilplate]

nice view...but my WB still got 4 freaking yrs...ur pics serve very gd as a appetiser...congrats

[tkc2263]

Thanks for the photos, Focus...

Can I asked you a couple of questions...

1) What floor is yr unit? I believe its above 12th flr, I just need you to confirm it. You do have a sweeping view of the landed properties and the sea (albeit a little far), but the key word is unblocked and sweeping view. The balcony is big and importantly functional and practical...can have a private barbq up there...

2) How big is yr unit?

3) How much is the psf when you bought it?

4) Any ideas how much is yr conservancy fees?

Thank you in advance...

Oh, and thanks for sharing....

I am sure WaterBank will have a very similar view as well...

[focus]

Can I asked you a couple of questions...

1) What floor is yr unit? I believe its above 12th flr, I just need you to confirm it. You do have a sweeping view of the landed properties and the sea (albeit a little far), but the key word is unblocked and sweeping view. The balcony is big and importantly functional and practical...can have a private barbq up there...

=> Yup! Intend to buy a indoor griller for the balcony area. It's above 12th floor. You also sama like devilplate and bought into waterbank as well? Ya, no fish, prawn also good. When I was there, I can see the sea above the whole stretch of trees along meyer road and it is bigger than the picture. Not as impressive as those at meyer of course

2) How big is yr unit?
4 bedder, 1830sqft but it should be around 1600sqft to discount the baywindows.

3) How much is the psf when you bought it?
On the high side, around 1100psf

4) Any ideas how much is yr conservancy fees?
No idea.

Thank you in advance...

Oh, and thanks for sharing....

I am sure WaterBank will have a very similar view as well..

[focus]

nice view...but my WB still got 4 freaking yrs...ur pics serve very gd as a appetiser...congrats

Yup! I would have bought the WB if it was the one Top-ing this year. Same location with same view , so at least pay for condo ..get some landscape is more worth it. You are planning to move in or just investing ?

This one.. I walked in .. I never "wow" as many times as when I visited MBR... that one is crazy ! Everything looks so huge and surreal..

[devilplate]

Yup! I would have bought the WB if it was the one Top-ing this year. Same location with same view , so at least pay for condo ..get some landscape is more worth it. You are planning to move in or just investing ?

This one.. I walked in .. I never "wow" as many times as when I visited MBR... that one is crazy ! Everything looks so huge and surreal..

i intend to stay...den rent out my current plc lor

mbr bayview is fantastic..one of its own in Sg liao..only MBR and The sail got such bayview oredi...

tats y if market crash, i will be first one to grab...

[maisonjai]

wow...ur pictures are way more convincing than the WB brochures. Congrats!!

how about ur bathroom view? anything nice over on the other side?

[jlrx]

I said before that the difference between a condo and an HDB flat is not inside the flat, but outside the flat.

Look at the two views below, one taken from focus's new condo at Dakota Residences and the other from his present HDB flat which he posted in January.

Can you spot the difference?

focus said in his previous post that his present HDB flat has a "fantastic view" but don't the clouds in the first photo look much more "fantastic"?

and also.. my wishy washy is cause this is my first time buying residential properties...(staying in HDB with fantastic view to my parents and amenities at my doorstep) and it is a big leap from buying shares..

http://forums.condosingapore.com/att...1&d=1264005764

Ok, just went to Dakota and found them doing site inspection. So I went in and took some photos of my actual unit.

2) 180degrees view. Can see the sea very clearly across the horizon (but rain was coming from east coast,so sea is blurrish)

[focus]

wow...ur pictures are way more convincing than the WB brochures. Congrats!!

how about ur bathroom view? anything nice over on the other side?

All 3 bathrooms and 1 common bedrm is facing the pool, but pool is so tiny that you will miss it if you don't look down long enough. If you look further out, you willl see geylang and beyond.. no immediate blockage at my level for quite far ..probably >2km.

The masterbedrm and 2 other bedrms faces meyer road and will get better views.

[focus]

I said before that the difference between a condo and an HDB flat is not inside the flat, but outside the flat.

Look at the two views below, one taken from focus's new condo at Dakota Residences and the other from his present HDB flat which he posted in January.

Can you spot the difference?

focus said in his previous post that his present HDB flat has a "fantastic view" but don't the clouds in the first photo look much more "fantastic"?

Actually, if you were to ask me, I would tell you that both looked good. But not fantastic 'coz I saw fantastic somewhere else

But I get what you mean.. like looking out from a hyundai is different from looking out from a aston martin..

[maisonjai]

Actually, if you were to ask me, I would tell you that both looked good. But not fantastic 'coz I saw fantastic somewhere else

But I get what you mean.. like looking out from a hyundai is different from looking out from a aston martin..

that's a billion dollar view, if u add up all the $psf in the foreground

[new2mondrian]

Focus,

Congrats to getting the keys to your new home!!!

And thanks for posting all the pics. Unblocked views! Should be nice and windy all year round. =)

[proud owner]

Focus,

Congrats to getting the keys to your new home!!!

And thanks for posting all the pics. Unblocked views! Should be nice and windy all year round. =)

u mean breezy ??


windy = tummy no good ...keep farting

[new2mondrian]

u mean breezy ??


windy = tummy no good ...keep farting

OMG.... u are really hilarious!

Yup yup... I meant breezy. not the "windy" kind of breeze though. lol.... The mental pic of focus' old folks having a windy tummy at DR is really very funny.

[bargain hunter]

Focus din get the keys, but he sure got his ways to enter his own unit.

Focus,

Congrats to getting the keys to your new home!!!

And thanks for posting all the pics. Unblocked views! Should be nice and windy all year round. =)

[proud owner]

OMG.... u are really hilarious!

Yup yup... I meant breezy. not the "windy" kind of breeze though. lol.... The mental pic of focus' old folks having a windy tummy at DR is really very funny.

hehhe

i remember those times when i go viewing

the agents kept saying WINDY .. i couldnt help but burst out .. they wil never know why i found Windy funny

i think ang mo will find windy units funny too

[focus]

hehe.. have visited the unit quite a few times .. and I felt the breeze every time. Ha.. hopefully my parents won't process the breeze into wind for the house..

[august]

hehhe

i remember those times when i go viewing

the agents kept saying WINDY .. i couldnt help but burst out .. they wil never know why i found Windy funny

i think ang mo will find windy units funny too

actually the usage of the word windy is not wrong lah