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Thread: Clover By The Park, Bishan

  1. #31
    Unregistered100 Guest

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    Quote Originally Posted by Unregistered99
    I bought the balance 58 units.
    Can you sell me all?

  2. #32
    Darius Guest

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    Lots of large units ie > 1200 sf. Too big for me, only can consider the 1200 sf one.

  3. #33
    Down Down Guest

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    Singapore factory output down 12.8% on-year in May
    Posted: 26 June 2008 1323 hrs

    SINGAPORE - Singapore's industrial production in May slumped by a much-bigger-than-expected 12.8 per cent from a year ago, pulled down by a 55.1 per cent drop in biomedical output, the government said Thursday.

    Analysts had projected a fall of 2.5 per cent for May.

    On a seasonally adjusted basis, industrial output last month fell 5.7 per cent from April, the Economic Development Board (EDB) said in its monthly report.

    "Production in May dropped 12.8 per cent compared to the same month last year, largely due to a contraction in the biomedical manufacturing cluster," said the EDB.

    The sharp plunge in biomedical output was due mainly to the pharmaceuticals segment, which shrank 58.2 per cent because a different batch of ingredients was produced, it said.

    Precision engineering also declined last month with output down 4.8 per cent on the year, but other sectors fared better. The EDB reported increased output in electronics, chemicals and transport engineering.

    Electronics output gained 3.8 per cent in May. Almost all electronics segments recorded higher production but information and communications, and consumer electronics, were exceptions, the EDB said.

    Chemicals production was up 2.2 per cent and transport engineering increased 13.0 per cent, boosted by the robust marine and offshore engineering industries, it said.

    Singapore's monthly manufacturing report is widely monitored as the sector accounts for a third of the city state's gross domestic product, worth 243 billion Singapore dollars in 2007.

    The export-reliant economy grew slower than estimated in the year's first quarter, at 6.7 per cent, as demand weakened due to a slowdown in the United States and other key markets, the government has said. - AFP/ir

    CNA - June 26 '08

  4. #34
    Up Up Guest

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    June 26, 2008

    Citi sees no oversupply of homes in next two years

    It estimates only 60% of the 30,000 units forecast will be completed, so fall in prices will be modest

    By Joyce Teo, Property Correspondent


    ANALYSTS from Citigroup have stuck their necks out to dismiss some market predictions of a crippling property glut in the next two years.

    Official figures show that around 30,000 homes will be completed in the next two years, but Citi reckons only around 60 per cent will likely be ready.

    If the bank's forecast is accurate, it could mean that downward pressure on prices will not be as great as some had feared.

    Citi's report on Singapore property, which came out on Tuesday, pointed to where previous predictions may have got it wrong.

    It stated that by the end of March, there were 6,000 collective sale units that had yet to be demolished.

    Some of the delays are because of legal challenges over sales, as well as developers extending lease periods for owners due to the weak primary market, Citi said.

    It estimated that there will be 8,200 units completed next year and 10,200 in 2010, assuming no further collective sales are done.

    These numbers are way below market expectations of 12,500 units next year and 17,500 units in 2010, it said.

    These higher supply numbers had led many experts to conclude that an oversupply was on the cards.

    But Citi stated: 'We have always argued that such estimates are not always accurate and they often get revised downward over time.'

    However, it did not elaborate further on the reasons for its lower supply projections.

    Knight Frank director of research and consultancy Nicholas Mak said the direct impact of the supply completion figures on prices is limited because most of these homes would already have been sold.

    But a large supply of homes for occupation would negatively affect rentals, and this would in turn hit prices, he added.

    Savills Singapore also believes the supply figures released by the Urban Redevelopment Authority are too high.

    Mr Ku Swee Yong, its director of marketing and business development, said completion delays in collective sales, as well as delayed launches, have not been factored in.

    'There are insufficient construction resources, which means there will likely be delays,' he added.

    'Prices of mid- to high-end properties will fall but not to the extent of the 30 per cent to 40 per cent drop predicted by some analysts.'

    Banks like Credit Suisse and Barclays Capital have forecast drops of up to 40 per cent in rents and prices, but Citi tips a fall of up to 30 per cent, and largely only in high-end homes.

    Citi expects this sector will suffer from falling demand, particularly as expatriates and locals keep downgrading.

    That will put downward pressure on rents of prime homes and further pressure on prices, it said.

    Citi also said a long downturn like the one that caught out many buyers in the late 1990s and early 2000s is unlikely.

    This is because resale volumes are still at above average levels, reflecting strong genuine demand. There is no sign of overbuilding or an overall housing shortage.

    Also, mass market homes remain highly affordable and are supported by high rental yields of more than 5 per cent, Citi said.

    'Due to the sharp rise, we believe high-end residential is likely to suffer the brunt of the 20 per cent to 30 per cent price decline while the mass market should remain fairly firm.'

    The mid-tier segment is likely to fall by 10 per cent to 20 per cent, it said. These are from a high base.

    Luxury home prices have surged by 149 per cent since the troughs in 2004.

    Prices in the mid-tier and mass-market segments rose by a still robust 79 per cent and 39 per cent respectively.

  5. #35
    mr funny is offline Any complaints please PM me
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    http://www.businesstimes.com.sg/sub/...85368,00.html?

    Published June 27, 2008

    Ho Bee's robust sales prompt more launches

    By KALPANA RASHIWALA


    SOME developers are riding on the pick-up in home-buying mood created by Ho Bee's Dakota Residences preview last week to launch their own projects.


    Upbeat: Sim Lian Grp has sold about 100 units of the Clover By The Park condo since its Wednesday preview

    Mainboard-listed Sim Lian Group, for one, has sold about 100 units of its Clover By The Park condo at Bishan St 22 since it began previewing the development on Wednesday at an average price of $750 psf.

    Next to Kovan MRT Station, an outfit controlled by UOB-Kay Hian star stockbroker pair Han Seng Juan and David Loh Kim Kang is getting ready to release its 512-unit condo, according to industry sources.

    BT understands that Centurion Kovan, which is developing the project, plans to preview the condo soon to 'remisier friends' of Messrs Han and Loh. There are also plans to preview the condo overseas, including China. The average price is expected to be in the $850-900 psf range.

    The duo bought the 189,812 sq ft site at a state tender in October last year for around $436 psf per plot ratio.

    Over in Bishan, Sim Lian is developing two 39-storey blocks with a total of 616 units for the Clover By The Park condo. The first phase released earlier this week comprises one tower with 308 units. It is near good schools like Catholic High (within 1 km), Ai Tong Primary School and Raffles Institution. 'Clover By The Park features three-bedroom and four-bedroom units to luxurious penthouses and suites of six bedrooms,' Sim Lian said in a release yesterday.

    Ho Bee has sold 95 units at Dakota Residences since last Friday. The average price is $976 psf. All three projects are 99-year leasehold.

  6. #36
    Newbie Guest

    Smile

    Went to showflat on Wed. Not too bad but too much space allocated to balconies, feel that its a waste. Was quoted $790/psf for quite high floor. Am thinking of getting a resale in De royale (FH)....anyone got any views? Understand that De royale was launched at $650, latest transacted price $796/psf.

  7. #37
    Unregistered3333 Guest

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    Quote Originally Posted by Newbie
    Went to showflat on Wed. Not too bad but too much space allocated to balconies, feel that its a waste. Was quoted $790/psf for quite high floor. Am thinking of getting a resale in De royale (FH)....anyone got any views? Understand that De royale was launched at $650, latest transacted price $796/psf.
    Just now one agent called me, from orangetee. told me 40% has been sold, really that hot?

  8. #38
    Unregister Guest

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    Quote Originally Posted by Unregistered3333
    Just now one agent called me, from orangetee. told me 40% has been sold, really that hot?
    To be fair... it is hot... but may not be for the right reason...

  9. #39
    money Guest

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    Quote Originally Posted by Unregister
    To be fair... it is hot... but may not be for the right reason...
    what you mean? i rather buy rafflesia or bishan 8, even though older esp the latter.

  10. #40
    ABC Guest

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    Quote Originally Posted by money
    what you mean? i rather buy rafflesia or bishan 8, even though older esp the latter.
    Why?
    Just know that the 4 stacks of units facing the park have been sold since the official launch on Friday. Endless stream of visitors to the showflat way into the night over the weekends. How come?

  11. #41
    Property hot again? Guest

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    Looks like property becoming hot again in SG? Maybe everyone sick of the poor performance of the stock market and banking on property? Anyway, this thing has an unglam HDB address. Can't tell from IC whether it is condo or HDB.

    Quote Originally Posted by ABC
    Why?
    Just know that the 4 stacks of units facing the park have been sold since the official launch on Friday. Endless stream of visitors to the showflat way into the night over the weekends. How come?

  12. #42
    Cloverer Guest

    Default Why Buy Clover??

    Great potential with the upcoming PUB ABC project.
    http://www.pubabc.com/

    All park facing are gone!!!

  13. #43
    Buyer88 Guest

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    Quote Originally Posted by Cloverer
    Great potential with the upcoming PUB ABC project.
    http://www.pubabc.com/

    All park facing are gone!!!
    196 units sold since Wed!!!! abt 66% of released units.

    Wonder how's Dakota Residences performance .....

    location - both got merits... but Dakota may appeal to ang moh next time... cos near city and got mrt.

    price - Clover is cheaper by 100 psf.

  14. #44
    mr funny is offline Any complaints please PM me
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    http://www.straitstimes.com/Money/St...ry_253013.html

    June 30, 2008

    LEASEHOLD PROJECT

    Buyers snap up 195 units in Bishan condo


    IN A welcome departure from the generally quiet market so far this year, the latest property launch - of the 616-unit Clover by the Park - has generated sales of 195 units so far.

    Sim Lian Group, which is developing the condo, said that as at 8pm last night, it had sold 195 out of the 308 units that were released for sale since last Friday's official launch.

    The 99-year leasehold condominium has large units, suites and penthouses.

    The eight suites, of 3,057 sq ft each, were all snapped up, indicating that buyers were keen on larger units.

    Buyers were mostly families upgrading from HDB flats. They picked up units priced between $907,000 and $2.68 million, or $599 per sq ft (psf) to $858 psf, said Sim Lian Land's executive director, Ms Diana Kuik.

    The average price worked out to be about $750 psf.

    Ms Kuik said potential buyers thronged the showflat and some stayed so late that the developer closed the showflat only at midnight on Saturday and around 10pm last night.

    However, about 100 units had already been sold by Thursday, following the development's soft launch on Wednesday.

    The property market has largely been quiet recently, as sentiment dipped drastically early in the year. Sales volume has plunged dramatically from the numbers registered during the boom times of last year. While the mood is still cautious, a few recent launches have registered encouraging sales.

    Savills Singapore's director of marketing and business development, Mr Ku Swee Yong, said: 'Serious buyers were probably spoilt for choice this weekend, shopping among the few launches which are attractively priced.'

    A week ago, the 99-year leasehold Dakota Residences in Dakota Crescent and the freehold The Amery in Telok Kurau were released for sale.

    JOYCE TEO

  15. #45
    Be Humble Guest

    Question

    Visited the showflat last sat.
    Wah, it was really overwhelming response! The agent told me it is already 80% sold since official launch of the project. Looks like aunties grabbing sales items from departmental store. Just wonder, are Singaporean really so rich that they dun mind owing their whole life to the bank? Most of the newly launch condos are selling like hot cakes..

    Everyone is talking inflation, but it seem like this is not an issue at all. Im just so surprise of the overwhelming response. The agent who attended to me, when he realised that im not able to make a decision on the spot after abit of push from him, he just excused himself and walked away. Anyway, left all with the not so nice units.

    Frankly speaking, the condo is nice and big, but surrounded closely by HDB, feel uncomfortable to get a private property and when you look out of your window, HDB flats are just right infront of you (is so near and “nice” view) and i do agree that is inconvenient as it is not within walking distance to the MRT. (Accordingly to the agent, is about 2.5 bus stops away from the MRT)

    It does not mean that if a person stays in a condo, he has to drive. He can have the money to buy a car, but he may not want too. My husband wanted to buy a car for me to drive to work, but I’m not the type that love to drive, I rather take public transport, so i do not think is necessary to be so houlian by giving that kind of comment , saying if a person doesn’t own a car, then dun stay in condo. (Sound like one of the MP’s daughter ah) Ultimately, if a person is rich enough, there is no need for him to get the loan from the bank in the first place. To show off how rich he is, just buy the whole house and pay in full at go! Agree?
    Just my personal thought.

  16. #46
    dennis fan Guest

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    [QUOTE=Be Humble]Ultimately, if a person is rich enough, there is no need for him to get the loan from the bank in the first place. To show off how rich he is, just buy the whole house and pay in full at go! Agree?
    [QUOTE]

    Dennis Ng would disagree wholeheartedly with you there.

    To him, paying full for a house is STUPID as the opportunity cost is tremendous! Think of how much you could make with that kind of capital in the stock markets.

    Plus, a house is an appreciating asset, so whatever interest accrued on the house will be more than offset by any capital gains and rental gains (if any).

    Don't shoot me ah. Shoot Dennis. He can be found on housingloan.sg

  17. #47
    Unregistered223 Guest

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    Quote Originally Posted by Be Humble
    Visited the showflat last sat.
    Wah, it was really overwhelming response! The agent told me it is already 80% sold since official launch of the project. Looks like aunties grabbing sales items from departmental store. Just wonder, are Singaporean really so rich that they dun mind owing their whole life to the bank? Most of the newly launch condos are selling like hot cakes..

    Everyone is talking inflation, but it seem like this is not an issue at all. Im just so surprise of the overwhelming response. The agent who attended to me, when he realised that im not able to make a decision on the spot after abit of push from him, he just excused himself and walked away. Anyway, left all with the not so nice units.

    Frankly speaking, the condo is nice and big, but surrounded closely by HDB, feel uncomfortable to get a private property and when you look out of your window, HDB flats are just right infront of you (is so near and “nice” view) and i do agree that is inconvenient as it is not within walking distance to the MRT. (Accordingly to the agent, is about 2.5 bus stops away from the MRT)

    It does not mean that if a person stays in a condo, he has to drive. He can have the money to buy a car, but he may not want too. My husband wanted to buy a car for me to drive to work, but I’m not the type that love to drive, I rather take public transport, so i do not think is necessary to be so houlian by giving that kind of comment , saying if a person doesn’t own a car, then dun stay in condo. (Sound like one of the MP’s daughter ah) Ultimately, if a person is rich enough, there is no need for him to get the loan from the bank in the first place. To show off how rich he is, just buy the whole house and pay in full at go! Agree?
    Just my personal thought.
    i visited too. for the price, i rather get a ready built condo at east cost.

  18. #48
    BE Humble Guest

    Smile

    Aiyo, of course i wont shoot you..this is a public forum, everyone has their rights to share their thoughts..

    That’s why i said, if these ppl are so well off and they want to SHOW OFF to ppl how rich they are, by telling ppl how many cars they own and how many condos they have, paid in full at one go! Show the world you have the money. This is something that most of the Singaporeans(including me) are unable to do and something that the person can be very very proud off since his motive is to show off.

    I do not think a person can always make money in the stock markets, but I’m pretty sure one will owe the bank money and interest forever once he starts buying a property, with loan from the bank. Everyone knows the market is sometimes so unpredictable. So he is so damn rich, he will have spare cash to invest too. I have never heard of a millionaire getting a housing loan from the bank.

    Just be humble abit..you never know if one day you will fall

  19. #49
    common sense Guest

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    Quote Originally Posted by BE Humble
    I have never heard of a millionaire getting a housing loan from the bank.
    That is where you are dead wrong. If you only have $5 million for example, and you buy a $2 million house. Would you pay in full? If you will, then maybe you did not come from a business background.

    There are many multi millionaires out there who have plenty of money invested, and some more in the bank, but they still take loans. I have friends from old rich families who were given a few million dollars in inheritances but their parents forced them to take bank loans for properties instead of paying cash in full. Reason: their money is not deemed to be working hard enough. I agree with the parents.

    Cars paid in full yes, because it is a relative small amount. Properties, no.

    Go ask those who own GCBs, I am sure the super rich who are worth a few hundred million do pay in full but most mere multi millionaires do not.

    Everything is relative, so even if you can afford to pay in full but doing that reduces your working capital by half, then it may be wiser to take a loan. But if paying in full takes up but 5% of your working capital, then by all means do so.

    In business, every cent has the potential to grow by 10 times or more. Do not waste it by paying up to the bank. If need be, buy a smaller house.

  20. #50
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    most millionaires get loans...billionaires dont..

  21. #51
    Be more humble Guest

    Talking

    yes agreed ..of course i know no one pay in full at ONE GO. That is something nonbusiness background ppl know too. Just for infor, I have frizs with busines backgroud, knows about business, however they are not doing as well as i think..So business background or not, it does not matter at all, they can be a failure too.

    Im just trying to ask those ppl who think they are super rich to wake up and be more humble, stop boasting around on how rich they are. The fact is, they are just borrowing money from bank to finance their house, they do not own the house at all! they only own the house after they have paid up their loan. This is a fact.

    i would rather own a house of my own, fully paid up, then to have a few property, with lots of outstanding loan and i have to work till im age 70 to settle the loan. I think lots of Singaporean are doing that, having 30 years of loan ,or even max out to 35years just to get a expensive condo. There is so sad just bcoz they want to show ppl that they belong to the 'rich' group. if a person still tells me is good to loan from bank when you can pay off the housing loan as soon as you can, then i really think this person is dumb. What makes the person so confident that his business or investment will grow, in short term? long term maybe yes, but how long? the person may not get to see that day. Is a risk.

    Talk about business..again, anything is possible, if your business fail, you will have to sell off all your property to pay your debtors, and sleep along the street or friz house? I guess is always smart to have house of your own then to have a few that "belongs to the bank".

    dun tell me you are one of those who own a few properties? all loan from bank like 30 years? very sad if that is the case! I used to know this guy, son of one of the millionaire in Singapore, you will be surprised on how humble he is! Im very very impressed by him, compare to those not so rich but act rich ppl..and is truth, not lying.

  22. #52
    WC Guest

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    what is the reasonable househole income in order to stay at this kind of condo that costs 900k-1Mil???

  23. #53
    hello? Guest

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    Quote Originally Posted by Be more humble
    I used to know this guy, son of one of the millionaire in Singapore, you will be surprised on how humble he is! Im very very impressed by him, compare to those not so rich but act rich ppl..and is truth, not lying.
    did you ask him whether he paid up his property in full or take loan?

  24. #54
    John Guest

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    Hi Kcal,
    How do you know that most millionaires get mortgage loans? Bishan has the most number of HDB executive flats and has the highest household incomes in a HDB estate. Some of these residents are millionaires approaching 55 years old. They are able to buy a $1million condominium unit without having to get a mortgage loan. Do you agree?

  25. #55
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    Quote Originally Posted by John
    Hi Kcal,
    How do you know that most millionaires get mortgage loans? Bishan has the most number of HDB executive flats and has the highest household incomes in a HDB estate. Some of these residents are millionaires approaching 55 years old. They are able to buy a $1million condominium unit without having to get a mortgage loan. Do you agree?
    Due to the nature of my job, of cos I know. I said MOST, i didnt say ALL..

  26. #56
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    Didnt know the demand is so good, but i hope that the roads there will be quite connected, huge jam expected.

  27. #57
    Humble Guest

    Smile

    opps..sorry. this friz of mine is not millionaire's son, but BILLIONAIRE’s son. So what do you think? he never go around telling ppl, have how many cars and how many condos he has. He is really a nice chap.

    Traffic is definitely a problem there, I was there on a Sat evening and was congested.

  28. #58
    Unregistered3 Guest

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    Anyone has any floor plans to post on Clover? Can someone describe the surroundings of this project? Besides 1 view of Bishan park...the rest face HDBs? How tall are these HDBs?

  29. #59
    Unregisteredhere Guest

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    Quote Originally Posted by Unregistered3
    Anyone has any floor plans to post on Clover? Can someone describe the surroundings of this project? Besides 1 view of Bishan park...the rest face HDBs? How tall are these HDBs?
    39 floors, 2 towers, 1st tower launched... one side facing the park, the other facing the HDB...

    not sure why so many rich ppl out there. Im interested to buy, but think 900k is too expensive in Bishan.

  30. #60
    registered Guest

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    Quote Originally Posted by Unregistered223
    i visited too. for the price, i rather get a ready built condo at east cost.
    Agree on the of not driving. My family own cars but i choose to take public transport. For varities of reasons.

    having cars does not equate convenience in Singapore, not when it is a big headache trying to find car parks....

    Don't fault ppl for not having cars or not driving.

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