The Quartz @ Buangkok (99LH By Guocoland)

[TQ63]

Dear ALL,

Please do not visit Darwin Interiors as I went there 2 weeks ago for a quote and until today, they still never get back to me. Apparently they're pretty stuck up.

I agree with the comment. Today, I happened to pass by and went to the showroom of Darwin Interiors. The showroom is lack of customer service and not interested to serve when they knew the projects has not TOP.

[Piper]

People,

What does TOP 2Q09 mean?
Does it mean that by June 09, we can take our keys and start to renovate?

I thought it was in March 09? Delay again?

Thanks!

[kal]

I pass by almost everyday. I will say, earliest TOP will be Jun2009. I reckon will be 3qtr09 lor...

[axela_3]

Hi, which blk did u buy and at which level is your unit?

Hi, I bought Blk 53 low floor.

[kennt]

People,

What does TOP 2Q09 mean?
Does it mean that by June 09, we can take our keys and start to renovate?

I thought it was in March 09? Delay again?

Thanks!

March is the projected completion date. Afterwhich the developer will need to go through a series of inspections by the authority. The timeframe is between 2-3 months if nothing goes wrong. Hence we reckon June take key.

[sun]

Hi, I bought Blk 53 low floor.

May we know the price ?

[axela_3]

May we know the price ?

It's about $790K after rebates.

[hayata1972]

congrats to the owners of TQ. Your prices are holding up pretty well.

[isaaclim]

congrats to the owners of TQ. Your prices are holding up pretty well.

What is your justification for this statement?

From the latest information i got, TQ still have 160+ units unsold. So developer will have to give more attractive package.

Let's see how creative is the developer to come out with attractive package that will not cause previous buyer to

[isaaclim]

It's about $790K after rebates.

I think i know which unit you are getting. Size is 1195 + poor facing. The layout of that stack is the best among all the stacks except the GOLDEN stack.

[Unity]

Isaac,

Based on your comments, what do you est. would be fair and reasonable value / price psf for Quartz on;

1. Pool view units
2. Non-pool view units

[isaaclim]

Isaac,

Based on your comments, what do you est. would be fair and reasonable value / price psf for Quartz on;

1. Pool view units
2. Non-pool view units

In fact, we had a heavy discussion among my agent friends during last weekend on the report from URA.

Some predicted the condo price would go back to the level during early 2006. Some predicted that Casino would not be able to create the level of boost on our economic as expected.

But of course, they are voice against those statement. Such as gov is selling new HDB at 500++ psf. How can a condo with facilities cost less then HDB?

For me, i think TQ developer will not reduce the price furthermore or too much. Because most the existing units are a kind of choice units. Instead they will introduce more attractive package to boost sale. Having 160 units unsold is not a joke for a developer. Even for a big developer it is a pain.

[tortu]

The key is developer and sub-sales unit seller needs to realize the market environment and future outlook doesn't warrant any anything > $600psft in a typical project like Quartz.

The banks will start to scrutinize the valuation of the property on top of the personal credit worthiness. Hence getting a loan will be far more stricter goign forward and this can drive demand down.

And let's not forget there are people who purchase their units through DPS and when the project TOP in Q2 next year, they will be units (not just this project but in general) flooding into the sub-sales market.

We shall see!

[sun]

The key is developer and sub-sales unit seller needs to realize the market environment and future outlook doesn't warrant any anything > $600psft in a typical project like Quartz.

The banks will start to scrutinize the valuation of the property on top of the personal credit worthiness. Hence getting a loan will be far more stricter goign forward and this can drive demand down.

And let's not forget there are people who purchase their units through DPS and when the project TOP in Q2 next year, they will be units (not just this project but in general) flooding into the sub-sales market.

We shall see!

Dont forget that those DPS bought at very low price few years ago. They have nothing to loss if they sell next year 2Q. Potential buyers are eyeing TQ aggressively due to not many 99y near MRT project. So "ann" lah.

[stevengoh76]

Today news just annouced that nearby Compass point open field will be building a Wet market n Food centre in 2010!The location is just walking distance to TQ!TQ price will go up again based on this new project.

[quartz]

Hi,

Anyone out there know what would the empty plot of land beside Quartz be use for?

[axela_3]

I think i know which unit you are getting. Size is 1195 + poor facing. The layout of that stack is the best among all the stacks except the GOLDEN stack.

Hi Isaaclim,

You are half correct. I did get a pool facing unit but not a 1195. It's a 1152 unit.

Anyway, wat do you mean by the golden stack?

[kennt]

Anyone out there know what would the empty plot of land beside Quartz be use for?

[/QUOTE]

Me too wanting to know. The land is just too small to build anything. Maybe that serve as a seperator between us and the fire station.

[interested]

Anyone out there know what would the empty plot of land beside Quartz be use for?

Me too wanting to know. The land is just too small to build anything. Maybe that serve as a seperator between us and the fire station.

School

[tortu]

The wet market plot of land is quite a distance walk from TQ. IMHO, a wet market has little influence of pricing relative to the economical tsunami that we are experiencing now.

It is not just TQ, all 99yr LH PC has to adjust its price down back to the level of 2006, otherwise, developer untis will remain empty and sub-sales unit will need to be bear by owners themselves.

And you are right, since the Sub-sales unit owners got their units at a low price at ~$500psft, it really make sense they let go around that price and achieve at least a break-even since they are on DPS anyway. IMHO, if they hold it beyond TOP, things will get worse and they may not even achieve break-even.

Just another piece of news, there was a plot of land next to Pungool Park reserved for condo, there was ZERO developer appearing in Dec 08 to bid for the land. You guys tell me what do you think these developers are doing when they know they will fetch a extremely low land price since they are no competition? NO ONE ACTUALLY BIDDED FOR IT!! They definitely know more of the property market than anyone of us in this thread. If you think the price can hold or even go up, I think we will all be SORRY!

[isaaclim]

The wet market plot of land is quite a distance walk from TQ. IMHO, a wet market has little influence of pricing relative to the economical tsunami that we are experiencing now.

It is not just TQ, all 99yr LH PC has to adjust its price down back to the level of 2006, otherwise, developer untis will remain empty and sub-sales unit will need to be bear by owners themselves.

And you are right, since the Sub-sales unit owners got their units at a low price at ~$500psft, it really make sense they let go around that price and achieve at least a break-even since they are on DPS anyway. IMHO, if they hold it beyond TOP, things will get worse and they may not even achieve break-even.

Just another piece of news, there was a plot of land next to Pungool Park reserved for condo, there was ZERO developer appearing in Dec 08 to bid for the land. You guys tell me what do you think these developers are doing when they know they will fetch a extremely low land price since they are no competition? NO ONE ACTUALLY BIDDED FOR IT!! They definitely know more of the property market than anyone of us in this thread. If you think the price can hold or even go up, I think we will all be SORRY!

Well, you maybe a bit too pessimistic. Whatever go up, it will go down. Whatever go down, it will go up. "Tomorrow" high will definite be higher then today's high due to inflation. The question is when is the "Tomorrow", that would depend on how bad is the situation. But for sure, next year is going to be a tough year.

Since our gov is having great revenue from land sale, property tax, stamp duty from previous few year. As long as they stop releasing land, property price will gain some support.

Let's hope all the current economic situation can be improved soon.

Merry X'mas and Happy New Year!

[spiker10]

Just wondering....what's the rental for a unit in quartz gonna be like? 2.5k a month?

[isaaclim]

Just wondering....what's the rental for a unit in quartz gonna be like? 2.5k a month?

Just terminate my existing tenancy agreement and replace with a new one at 20% cut. So the tenant who work in Bank cannot terminate it using diplomatic clause.

So, at least my aXX is covered for one year.

[sun]

TQ 731K nett 2nd floor pool view, worth buying ? Will it drop next year ? I still find too high. Because my job not so secure, but want to have one unit to collect rent to huge devalue currency.

[tortu]

What is the floor area? Which block? Is this from developer or sub-sales? I think you should wait unless all the answers to above questions are favorable..

[isaaclim]

TQ 731K nett 2nd floor pool view, worth buying ? Will it drop next year ? I still find too high. Because my job not so secure, but want to have one unit to collect rent to huge devalue currency.

Not wise in buying a unit which is not for own stay. With 10k new units + 1k enblock units entering market, rental will encounter serious pressure next year.

[tortu]

Agree on Isaac's advice. Not wise to buy if it is for rental.

However, if it is for own stay and the price is right, meaning reasonable psft, maybe can go it but I think Q2 next year will be a better time.

[sun]

What is the floor area? Which block? Is this from developer or sub-sales? I think you should wait unless all the answers to above questions are favorable..

Its a 3+1 1152 sft unit from developer. Another unit 650k 3+1 3rd flr facing BBC pit from subsale, worth buying ?Hope it drop 10-15% next year then more affordable.

[quartz]

Hi All,

Merry X'mas to one and all.

[[email protected]]

sub-sale stack 11- hgih floor, asking $780k worth buying?