Newbie
A lot of viewing but very few transactions. Thats the same in most developments now. It does show that there are a lot of people interested in buying though.
I must say the owners are holding on very well so far. If they can hold on for another 6 months, I think these interested people will start investing and the markets will recover somewhat.
Junior
Agreed. Even today, six months after TOP, there are 9 units of the stellar for sale and 18 units for rent on Propertyguru.com.sg. a lot of foot traffic, that is what it is. Very few transactions. the owners have to lower their prices and suffer losses to get buyers to sign on the dotted lines.Originally Posted by ST88
I wouldn't consider this condo unless the prices drop below $500psf. Just not comforable being surrounded by so much traffic and noise.
Senior
i dont think its noisy leh .. the one thats really noisy will be Spectrum ..
Newbie
Interested buyer
I'm looking for a 3 bedder unit. Any sellers? Looking to buy at $620 - $650psf....
Senior
latest caveat 788 psf !!! i think it is a 3 bedderI'm looking for a 3 bedder unit. Any sellers? Looking to buy at $620 - $650psf....
Senior
again, latest caveat for stellar 795 psf
Senior
can anyone explain why Stellar psf is the highest among the other FH's like carabelle, Infiniti, Botannia ?
Newbie
Stellar is locate in nearer to city south is a different price effect compare to West coast park condos. So does is different with the PPR development nearer to PPHill nearer to Westend & MRT west coast at S$1000psf for the new development launching this month just 1 min walk to MRT.
Senior
that means Peak@Balmeg, and the other FEO project ..will be 1000 psf ??
Senior
is there such a thing as a circus tent effect ??
taking Balmeg at 1000 psf as the highest point of the tent ,,spreading outward in a circle ..would the surrounding condos also 'gain' in value ?
Junior
But no one is buying the Peak@Balmeg. It was launched about six months ago, and it is dying a slow death. But the price to 700psf, then we will buy.
As for the Stellar, no, it is selling at hot cake. there are a few transactions here and there, but basically interest in this condo is very low. for obvious reasons. who need the traffic noise and pollution that may kill your sons and daughters before they grow up?
Senior
i dont understand .. you said interest is low ..yet selling like hot cake ?
compared to carabelle and botannia .. stellar has fewer trades done ..
Junior
Not selling like a hot cake. Very few transactions.
Senior
yes i realise there are very few transactions ...
but the latest 2 registered psf 788 and 795 ... much higher than carabaelle and botannia ... and i wonder why ?
Junior
Very simple. Condos are still selling with the launch prices as the benchmarks. Back in early 2007, the stellar was sold by the developer at 700-750 psf. Sim Lian was selling carabelle at about 600psf, and CDL Botannia at 700psf.
the owners of the stellar are using the price they paid as the benchmark when they sell their units. but the potential buyers are unwilling to pay what they consider as exorbitant prices. That explains the low volume of transactions.
When the owners of the stellar capitulate, we will see the prices drop to 500-600psf level in two years.
Senior
i guess its part to do with timing ... i recall Varsity park 99 yr resale went thru at 800-ish psf ...thats really exorbitant ... and even a PH in clementiwoods ..also went thru close to that ...
Junior
Some buyers of VP and the stellar really don't have a sense of value. if you can buy a condo at D9 or D10 for less than 900psf, why would you pay 800psf for the stellar or VP. It is hard to understand these people. some people are either too rich to worry about value for their money or too ignorant and buy into whatever the agents tell them.
a lot of condos brand new like Sixth Ave residences can be had for 900psf in D9 and 10.
Senior
nope ..been looking for myself and for a friend 6th ave res ... NO seller at 900 psf ...although caveat registered 2 transactions ...sellers now only above 1000 psf ...
back to stellar and VP .. between the 2 isnt it more crazy for VP and clementiwoods to have traded at 800 psf ??
Junior
Not sure about CW, but it is definitely crazy for VP to transact at 800psf. We drove by the other day, my wife said this place looks like a low rise -HDB estate. One year after TOP, it has already acquired a tired and dirty look. Can't help wondering why. Perhaps the pollution from passing rigs and semi-trailers is doing real damage to the paint. the condo looks like a 10 year old condo.
Senior
[quote=stalingrad]Not sure about CW, but it is definitely crazy for VP to transact at 800psf. We drove by the other day, my wife said this place looks like a low rise -HDB estate. One year after TOP, it has already acquired a tired and dirty look. Can't help wondering why. Perhaps the pollution from passing rigs and semi-trailers is doing real damage to the paint. the condo looks like a 10 year old condo.[/quot
the color of the roof tile does give it a 'old' look ...
Senior
the color of the roof tiles ...makes it look old ...
Senior
and i am referring to Varsity park ...
Newbie
.. Chaser.
Like Bubble Tea, 1st mover make $ in sunrise. Chaser want, so pay for inflated franchise from 1st mover and bubble heading toward sunset and so chaser eventually bail out the business at a loss.
1st mover = +2, chaser = -2. (as always, balance up to zero)
.. Property.
Launch below 600psf. 1st mover go in then flipper or "bull"dozer buy over.
The rest the same as bubble tea, only the sunset (TOP) will tell the price up or down. So currently;
1st mover = +1, chaser = 0
In anycase, IMHO, both VP & CW should not worth more than 606psf @ medium in the 1st price.
Senior
i can only said that the biggest gainers are the first batch of VP buyers who have sold it ...
and good luck to those who paid 700-800 psf for VP in 2007/8 ...
Newbie
First of all, the below are my 2 cents worth.
I have a penthouse in VP and a 3bedroom in Stellar. both I bought during the launch.
Quality
The build quality of VP is much better than Stellar, despite the fact that they are both from the same contractor. This leads me to believe that it is not just the contractor that makes a difference, the developer as well.
When i saw the Showroom in VP, I like it. When I saw the showroom in Stellar, I liked it too. And given the price at the launch, I felt that the price differential between the leasehold and the freehold was too close, and was what it spur to to make the second purchase.
However, I have to say the end result was disappointing for Stellar.
Layout
Well, although there are more units at VP, the distances between the blocks are not that close until it is uncomfortable. Some blocks in Stellar is just too close to each other. But this is not a big factor for me, as it is not something that a nice piece of curtain couldn't fix.
Site plans
This is the biggest problem I face. If you look carefully, especially around 3pm in the afternoon, almost all the units in VP will have afternoon sun. And it is very hot. Especially if you have a penthouse unit. There is only 1 bedroom in my unit that is not affected by evening sun. Some people may like it, as the sun leaves the apartment bright and cheery. But I prefer an unit that is not expose to afternoon sun (personal preference). However, the site layout is such, that all the corner units are at the end of at least 1 wind tunnel (mine has 2 wind tunnels). If you grab these units, they are very windy. It helps a lot in the afternoon. The wind was so strong that sometimes i fear my umbrella get blown downstairs. In the evening, we have dinner in the balcony.
Stellar although very close to each other's block, does not have much of the afternoon sun problem. Perhaps it is because of the large water body in the center that helps cool the air around it, i don't know. except for that block that faces VP, the rest of the block are ok. Although a word of caution, not much wind moves around that development.
Rental
Both my units are rented out.
Stellar 1300+ sqft for slightly over $4k per month. Initially it was rented out for $5.5k during the TOP time. Tenant kindly request that we consider reducing the rental, given the economic downturn. I negotiated that I am wiling to reduce $1.2k from the rental if they takes care of the maintenance as well as any possible repairs below $500, and they accepted. I think i got a pretty good deal, given that everything is new, they got a fair deal.
Penthouse in VP is rented out for $6k+. In terms of yield, this one works out better. However, it has been giving me some problem, such as a clog pipe filled with soil in the balcony. The aircon not working. Yes, the apartment is still under warranty, it is just very troublesome that i have to take time off work to settle these problem.
My own gut feel.
If i have to move into either of these to stay (i currently stay in a 4 room HDB flat not too far from both development), i would prefer to stay in VP. I felt that the neighbours in VP are friendlier. And there are quite a few kids in the develpment that my kids could mix around with. I don't stay in VP, but almost every weekend, I bring my kids there to have pinic with the neighbours at the pool.
Stellar, perhaps of the demographic, i don't sense that sort of friendliness from the neighbour. Given that neighbours are not friendly, and you are so close to each other, it feels funny.
Of couse, i have not stayed in both for more than a month before, so this is really just how i feel. Relationship with neighbours takes time to cultivate. I obviously had more time to do that with VP.
If you have any questions regarding the 2 development that you need info from my, i would be most glad to help. I am not an agent, and neither am I looking to sell my units.
One last thing, if you think the traffic and air around there is bad, my suggestion is to move to Lim Chu Kang. It takes me about 15 minutes at most to get to work (at Raffles Place) from there everyday. And i wash my car about once every 2 months. my kids don't have asthma or any funny diseases.... my plants are growing so well, that i am considering getting rid of them as it is taking too much time to trim them each week...
Senior
whats all these ?????????//////
Newbie
I believe nearer to West coast MRT or the front of Pasir Panjang Rd (nearer to Vivo and IR)have better yield. By fragrance Group . 3 mins to MRT.
A new development at that location calling for 1000psf. Already create a queue before launch. Developer delaying the launch due to good market response.
Property Cheoong ahhh
Newbie
Hi, will like to seek your advice on rental potential at VP and development around that area (West Coast/Pasir Panjang). I am not familar with the targeted tenants there but it seems that there are a a lot of development there that it might be difficult to get tenant.
1. Who are the targeted tenant?
2. Family or singles grouping together to rent a unit?
3. Do you still see good demand for that area or VP?
Thanks
Newbie
looking around for units in D05
Any Stellar owners wanting to sell 2 or 3BR? Pls PM me.
I am a buyer looking around for units in D05
Emeritus Senior
I'm keen to look at a ground floor unit with private pool in the PES - however I don't think there is anyone selling...even if there is, would anyone here be able to give an indication of the price? Saw the ads, some are hitting past 900psf though ground units are far and few in between...
Posting Permissions
Reply With Quote