The Quartz @ Buangkok (99LH By Guocoland)

[dodoine]

Hey understand that block 53, level 8 (actually 6 cuz lowest level starts at 3), 9 (7), 10 (8) and 12 (10) all not taken since it's launch in June 2006. Any idea why?

Anyway, it was "priced from S$490 per square foot (psf) on average" during its launch in 2006. Now its $600++.. Sigh.. Those who have bought in 2006 must be laughing their backsides off...

http://www.guocoland.com.sg/Announce23.shtml

And already launched for 2 years, with so many units left, is it normal?

Any good agent revealed anything? I'm a walk-in but I don't think the agent tells me everything. Kept getting the feeling he's hiding something... hmm...

[888]

Hey understand that block 53, level 8 (actually 6 cuz lowest level starts at 3), 9 (7), 10 (8) and 12 (10) all not taken since it's launch in June 2006. Any idea why?

Anyway, it was "priced from S$490 per square foot (psf) on average" during its launch in 2006. Now its $600++.. Sigh.. Those who have bought in 2006 must be laughing their backsides off...

http://www.guocoland.com.sg/Announce23.shtml

And already launched for 2 years, with so many units left, is it normal?

Any good agent revealed anything? I'm a walk-in but I don't think the agent tells me everything. Kept getting the feeling he's hiding something... hmm...

location. That's the main issue.

[Unregistered2]

Hey understand that block 53, level 8 (actually 6 cuz lowest level starts at 3), 9 (7), 10 (8) and 12 (10) all not taken since it's launch in June 2006. Any idea why?

Anyway, it was "priced from S$490 per square foot (psf) on average" during its launch in 2006. Now its $600++.. Sigh.. Those who have bought in 2006 must be laughing their backsides off...

http://www.guocoland.com.sg/Announce23.shtml

And already launched for 2 years, with so many units left, is it normal?

Any good agent revealed anything? I'm a walk-in but I don't think the agent tells me everything. Kept getting the feeling he's hiding something... hmm...

couldn't remember where block 53 is. however, this is the situation with guocoland. it likes to launch only a handful of units every time. it withheld the choice blocks to the last. there were especially 2 blocks which were not even put on sale until recently.

could anyone confirm if block 53 is one of the choice blocks?

[Unregistered2]

location. That's the main issue.

if location is an issue, i believe livia will have a bigger problem, isn't it?

[pty hunt]

location. That's the main issue.

I don't think there is any location issue at TQ. In Singapore, if you stay near MRT, even staying at the northern tip or even at the border is no big deal. But if you really want good location, then stay in Orchard road.

[propertyinvestor]

couldn't remember where block 53 is. however, this is the situation with guocoland. it likes to launch only a handful of units every time. it withheld the choice blocks to the last. there were especially 2 blocks which were not even put on sale until recently.

could anyone confirm if block 53 is one of the choice blocks?

Blk 53 is facing the nice looking HDB. It is not one of the choice blocks.

[Unregistered2]

Blk 53 is facing the nice looking HDB. It is not one of the choice blocks.

ha! thanks. that also explains why there are few takers. but if the psf is low and you don't mind facing the hdb, it could be considered.

[TQ rocks]

couldn't remember where block 53 is. however, this is the situation with guocoland. it likes to launch only a handful of units every time. it withheld the choice blocks to the last. there were especially 2 blocks which were not even put on sale until recently.

could anyone confirm if block 53 is one of the choice blocks?

yap..those 06 thru to early-mid 07 buyers are laffing very hard now to the bank for subsale... they are making money for sure...anything btn 20% to even 50%... to think that at that point in time, there are still ppl lamenting it is expensive... i for one didnt and even though i love it, i did not buy then due to various uncertainties and when it comes to finally being able to do so last year it was too late...i had to grab a subsale which the prev. owner profited 35%... its crazy and a bit hard to swallow but thats the market now...bottomline is i m still happy with my purchase... it depends on who u want to please now as a buyer... developer or subsalers... either way, they are profiting big time... just a matter of who comes off as the attractive pkg to ur requirement if u r genuinely considering a unit in TQ... key pt is nobody is selling condo at a lost..at least for now or i don see it in next couple of years... u cant stop ppl from profitting so make your purchase a happy one by ensuring u are totally satisfied with the unit u r buying...

[Happy TQ owner]

yap..those 06 thru to early-mid 07 buyers are laffing very hard now to the bank for subsale... they are making money for sure...anything btn 20% to even 50%... to think that at that point in time, there are still ppl lamenting it is expensive... i for one didnt and even though i love it, i did not buy then due to various uncertainties and when it comes to finally being able to do so last year it was too late...i had to grab a subsale which the prev. owner profited 35%... its crazy and a bit hard to swallow but thats the market now...bottomline is i m still happy with my purchase... it depends on who u want to please now as a buyer... developer or subsalers... either way, they are profiting big time... just a matter of who comes off as the attractive pkg to ur requirement if u r genuinely considering a unit in TQ... key pt is nobody is selling condo at a lost..at least for now or i don see it in next couple of years... u cant stop ppl from profitting so make your purchase a happy one by ensuring u are totally satisfied with the unit u r buying...

In early 07 when I bought TQ, the price difference between my TQ and the average selling price of my EA (at that time) is a big different of more than 220K. Now, (just sold my EA), the different is narrowed down to less than 100K. (As compared to the price of TQ which I bought in early 07).

For those who bought in 06 (and own a Executive HDB), it may be even closer to 50K different thus make it very easy for them to finance their TQ. (Almost a 1-to-1 conversion).

[Unregistered2]

In early 07 when I bought TQ, the price difference between my TQ and the average selling price of my EA (at that time) is a big different of more than 220K. Now, (just sold my EA), the different is narrowed down to less than 100K. (As compared to the price of TQ which I bought in early 07).

For those who bought in 06 (and own a Executive HDB), it may be even closer to 50K different thus make it very easy for them to finance their TQ. (Almost a 1-to-1 conversion).

hmm... that means TQ prices did not increase as much or as fast as HDB resale flats. thanks for the info.

[Happy TQ owner]

hmm... that means TQ prices did not increase as much or as fast as HDB resale flats. thanks for the info.

I think you had mistaken my meaning. Let me do a rough explanation here.

1) Price difference between TQ bought in early 07 and EA (hougang) in early 07 is more than $220K.

2) Price difference between TQ bought in early 07 and EA (Hougang) in mid 08 is less than 100K.

But of course if you want to calculate the current price appreciation. You have to compare the current TQ price say $650PSF, this will work out to be more than $250K price different between TQ mid 08 and EA mid 08.

In term of actual % appreciation.

My HDB is around 28% price increased from early 07 to mid 08.
Whereas TQ is close to 30% for the same period.

[stack61]

I think you had mistaken my meaning. Let me do a rough explanation here.

1) Price difference between TQ bought in early 07 and EA (hougang) in early 07 is more than $220K.

2) Price difference between TQ bought in early 07 and EA (Hougang) in mid 08 is less than 100K.

But of course if you want to calculate the current price appreciation. You have to compare the current TQ price say $650PSF, this will work out to be more than $250K price different between TQ mid 08 and EA mid 08.

In term of actual % appreciation.

My HDB is around 28% price increased from early 07 to mid 08.
Whereas TQ is close to 30% for the same period.

It will be whether you want to take profit of 100K+ from your HDB or 100K+ from your TQ upon TOP next time. For me, I will prefer to take profit of 100K from my HDB. Mmm, Yes. From the previous buying price of my HDB to the current market selling price, I am surprised that there is already a hugh price appreciation. Congrat to all HDB upgrader who bought TQ in 06 or up to mid 07. Cheers.

[kennt]

It will be whether you want to take profit of 100K+ from your HDB or 100K+ from your TQ upon TOP next time. For me, I will prefer to take profit of 100K from my HDB. Mmm, Yes. From the previous buying price of my HDB to the current market selling price, I am surprised that there is already a hugh price appreciation. Congrat to all HDB upgrader who bought TQ in 06 or up to mid 07. Cheers.

You're using the buy low sell high tactic. Not many people can foresee this but some of TQ owners here took risk to invest during that time which obviously pays off now. Just imagine what will be like if not for the sub-prime crisis.....will it appreciate further??....mmm....

[propertyinvestor]

You're using the buy low sell high tactic. Not many people can foresee this but some of TQ owners here took risk to invest during that time which obviously pays off now. Just imagine what will be like if not for the sub-prime crisis.....will it appreciate further??....mmm....

I think even with the present sub-prime crisis, I will still foresee some upside for TQ taking into consideration TOP next year and the starting of first IR. If sub-prime crisis end this year, to "huat" in 09 will sure be no problem.

[Freehold]

I think even with the present sub-prime crisis, I will still foresee some upside for TQ taking into consideration TOP next year and the starting of first IR. If sub-prime crisis end this year, to "huat" in 09 will sure be no problem.

Increase a bit and then decrease steadily all the way until it reaches 99 years.

[Property Analyst]

Increase a bit and then decrease steadily all the way until it reaches 99 years.

Exactly right, the graphic will be more or less like below:


PRICE
^
|
|
| *
| * *
|* *
| *
| *
| *
| *
| *
-----------------------------------------------------*-----> TIME
CUTOFF 99 yrs


Some properties have different CUTOFF time, but average this will be 10 yrs after TOP.

[Don't worry so much]

Exactly right, the graphic will be more or less like below:


PRICE
^
|
|
| *
| * *
|* *
| *
| *
| *
| *
| *
-----------------------------------------------------*-----> TIME
CUTOFF 99 yrs


Some properties have different CUTOFF time, but average this will be 10 yrs after TOP.

Our Nation building to now is only about 43 years, and you see so many changes along the way. From a poor island to so many no.1 now in Singapore, and is only 43 years. So who can tell what's going to happen next in another 99 years time? Just look at Hong Kong buildings, they are at least 50 storeys high in most of the area and the build-in is so small. Reason being they are more than 6 million people staying there. And this is what going to happen in Singapore, For whatever reason, I think is better have something now, which you can afford than to wait till for something good that you may not be able to afford later.

[propertyinvestor]

Our Nation building to now is only about 43 years, and you see so many changes along the way. From a poor island to so many no.1 now in Singapore, and is only 43 years. So who can tell what's going to happen next in another 99 years time? Just look at Hong Kong buildings, they are at least 50 storeys high in most of the area and the build-in is so small. Reason being they are more than 6 million people staying there. And this is what going to happen in Singapore, For whatever reason, I think is better have something now, which you can afford than to wait till for something good that you may not be able to afford later.

Yes. Don't think you have to worry. FH price will still go down in term of recession. When building gets old, pricing in FH will also be heavily discounted. Another point you have to take note is that prices of FH is also higher than LH99 when you bought it NEW.

[dodoine]

couldn't remember where block 53 is. however, this is the situation with guocoland. it likes to launch only a handful of units every time. it withheld the choice blocks to the last. there were especially 2 blocks which were not even put on sale until recently.

could anyone confirm if block 53 is one of the choice blocks?

Blk 53 is definitely not the choice block. But I'm not sure when did they release blk 53. Seems like they also released this in 2006. 2 years without people buying? And quite a few units left. Anybody can confirm this?

IMHO, I belong to those who think that prices will fall. When government annouced plans about IR and proposed increase of new population, and with property boom elsewhere, property companies took the chance to invest. The knew that the market sentiments would be good and rising. Once they launch and start selling, investment risks are passed to the buyers.

At the first stage of the boom, speculators come into the market, slowly driving up the prices. When the market is climbing slowly, more speculators come in. Many people with spare cash also turned into speculators. Thus more speculators, more buyers, prices shoot up.

The property companies always strike the rod at the hotest, buy and launch when they feel market sentiments are the highest. Why would they want to wait? Why would they want to miss out this big piece of meat? As a result, supply goes up, and demand goes further which is why prices keep going up.

There would be a point that prices peak, and stablise (which is now). Speculators leave the market. Some already selling, some hoping the prices to go further up, noting that the sentiments are still good. But why don't the prices come down? Cuz the market is still driven by genuine home-stayers. There'll always be upgraders, but during property boom, speculators fill the market. And at the time where HDB prices are high, upgraders sell to buy private. As per news reports, the current home-buyers are people who are buying to stay.

The time comes when most of these home-stayers finish their shopping. Speculators want to sell, but demand would slowly drop. With new TOPs and existing condos for sale, supply up, demand doesn't match, prices go down.

This has happened before, and I think it'll happen again...

In my opinion, prices will start to fall towards the end of 2008 (companies are rushing to sell and home-stayers rushing to buy before Ghost Month). And will fall even more in 2009 til 2010.

Anyway, these are just my opinions and please don't take them too seriously. I welcome comments and discussion. Cheers.

[TQ Agent]

Stack 53 and 51 was launched between Aug and Oct 2006 respectively. Both stacks now fully sold.

[dodoine]

Stack 53 and 51 was launched between Aug and Oct 2006 respectively. Both stacks now fully sold.

Fully sold as of when? I was there on 17th july 2008 there's still a no. of units left... like #08-06 #09-06 etc etc... 2 days sold at least 4 units when nobody buy since 2006???

Pardon me but I don't understand. Or my agent was introducing me subsales?

[Property Analyst]

Yes. Don't think you have to worry. FH price will still go down in term of recession. When building gets old, pricing in FH will also be heavily discounted. Another point you have to take note is that prices of FH is also higher than LH99 when you bought it NEW.

I am not talking about recession or anything else here, but purely the price versus time (given anything else being equal).

The problem with leasehold is that the price will surely decline with time, no matter how good the economy is.
Buying leasehold is like spending money and you know for sure that money will loss with time.

As for freehold, you still "collectively own" the land no matter how old the building is and land is "scarce" assets hence the value always tend to appreciate with time (government can always "print" more money but that's not the case for land).

This gives buyers phsycologiycal effect to ask for BARGAIN PRICE when buying leasehold units older than 5 yrs, 10 yrs, etc.

[Freehold]

Our Nation building to now is only about 43 years, and you see so many changes along the way. From a poor island to so many no.1 now in Singapore, and is only 43 years. So who can tell what's going to happen next in another 99 years time? Just look at Hong Kong buildings, they are at least 50 storeys high in most of the area and the build-in is so small. Reason being they are more than 6 million people staying there. And this is what going to happen in Singapore, For whatever reason, I think is better have something now, which you can afford than to wait till for something good that you may not be able to afford later.

There are many new 999 yrs and freehold projects currently being launched at about the same price with TQ in Telok Kurau, East Coast, etc.
I admit that some are more expensive than TQ, but the different is not so significant.
You can check property ads in the newspaper.

[Unregistered2]

There are many new 999 yrs and freehold projects currently being launched at about the same price with TQ in Telok Kurau, East Coast, etc.
I admit that some are more expensive than TQ, but the different is not so significant.
You can check property ads in the newspaper.

there are many freehold properties which are perhaps only slightly higher in price than TQ but they could be too far in, too secluded, with poor commercial surroundings, sleazy areas, jam packed roads, etc.

it really depends on what you want and how much budget you have.

if you come across a low-priced freehold property which is devoid of the above, please let us know too. we will be interested to know and perhaps buy.

[propertyinvestor]

there are many freehold properties which are perhaps only slightly higher in price than TQ but they could be too far in, too secluded, with poor commercial surroundings, sleazy areas, jam packed roads, etc.

it really depends on what you want and how much budget you have.

if you come across a low-priced freehold property which is devoid of the above, please let us know too. we will be interested to know and perhaps buy.

My colleague had just bought a FH property in D19. Guess how much is he paying? Yes, PSF may be almost the same as LH99 TQ or even slighly lower. But do you know that he paid almost $450K to $500K for the re-build as it is a old terrace.

[ah neh]

there are many freehold properties which are perhaps only slightly higher in price than TQ but they could be too far in, too secluded, with poor commercial surroundings, sleazy areas, jam packed roads, etc.

it really depends on what you want and how much budget you have.

if you come across a low-priced freehold property which is devoid of the above, please let us know too. we will be interested to know and perhaps buy.

Got! Little India area.

[TQ potential]

Any idea if those facing the MRT are choice unit?
I went to the showroom last week and find a lot of units still available.

[Unregistered2]

My colleague had just bought a FH property in D19. Guess how much is he paying? Yes, PSF may be almost the same as LH99 TQ or even slighly lower. But do you know that he paid almost $450K to $500K for the re-build as it is a old terrace.

you mean he paid $450k to $500K for the purchase of an old terrace or he had to pay an extra $450-$500k for rebuilding an old terrace? if it is the former, it is definitely a very rare and good buy.

[Unregistered2]

Got! Little India area.

if you are talking about rangoon, it is not cheap, at $1000 psf.

[propertyinvestor]

you mean he paid $450k to $500K for the purchase of an old terrace or he had to pay an extra $450-$500k for rebuilding an old terrace? if it is the former, it is definitely a very rare and good buy.

He bought a terrace house in D19 for about $1.2mil (slightlhy above $600PSF). With a add on rebuild price of around $500K, the total price becomes $1.7mil or around $950PSF.