Heard that most of the units bought were by the remisiers!
Heard that most of the units bought were by the remisiers!
any reason why they buy?Originally Posted by Heard
Look at the road there... jam every morning and every evening... with KR residences moving in 3 years from now... it is going to be worse.....
In support of the "star" remisiers who are building this project lorh...public interest for this project is really low...
Newbie
I think the overall look is nice.
Bought blindly..... will regret.......
This development really sucks...When I asked the agent why planter area so huge, she reply its to bring the garden into your home...alamak, try to smoke also fail...They charging you more for less space given!
Way overpriced...location not as lucrative as some other closer to city...think the sales result is truly reflected...not doing so well haha...
Another wild assumption from you again?
Agree...I think it is not moving coz it is overpriced...people tend to compare this with Kovan Melody next door...although it is older and not as pretty...but it shares similar pros/cons of the location.
The planter boxes are the biggest I've seen amongst recently launched projects!...and for 3/4 bdrm...there are at least 3 planter boxes in different corners of the house!
The only thing wild is to jump is to buy ..... reckless even.....
Went to have a look at Kovan Residences. Very disappointed. Feel that the developer did not put in much heart into the interior design of the unit...a lot of wasted space and finishing not up to expectation. Master bedroom small compared to other projects. The Quartz designed better. Some of the facilities such as In Pool Refreshment sounds very unique and luxurious but lack practicality, including bringing in of a chef to cook at the Dining Pavilion. Pattern more than badminton. The only plus point which the agent kept hammering on is the close proximity to Kovan MRT. For investors who put in $800K plus for a 2 bedroom unit, I think it is way overpriced for the finishing. However, agent mentioned that the stacks at Blk 7A nearest the exit to the MRT station all snapped up.
For 3 bedrooms, one need to cough up around 1.1Mil to 1.2Mil for a 1281sq ft unit. Think getting a freehold property even more worth it. But agent said that there is no difference between freehold property and leasehold property these days as government can acquire your property anytime.
Summarising, think that there are more beautiful and refined projects in the North East area. In addition, the numerous stack plus Kovan Melody units nearby lessen the exclusive feel. But for people who like the benefit of MRT station, then it maybe worthwhile to invest in it. As to whether the price will shoot up during TOP....well it remains to be seen. I just can't picture secondary market buying a 2 bedroom unit at over $1 Mil at TOP for Kovan area. Prospective buyers may want to drive further up to see The Florentine showflat at nearby Florence Road.
inferno - projects of the same scale, locations, newly launched (kv) and latest oldest (km), the price gap is about 100-150psf... mid..
to the rest forumers - i'm a balcony lover as i enjoy open air, esp during certain months when the weather is rather breezy.. balcony and planters (once levelled up) may serve the same purpose.. it creates the feel of space as it opens up with only a half height barrier. for those observant ones, if u look at KR's 3 & 4th bd showflats, u'll notice the enclosed (shutters) effect vs the open effect at balconies. for the planters in the rooms, u sld see it as a balcony area for u to sun your pillows and mattresses easily as well as serving other useful functions. it's really up to your creativity how u utilise them.
for balcony lovers, i think this is one of the few projects that deliver balconies similar to those in luxurious condos... not fake small sized balconies. plus in future, with balconies and planters being accoutned for in the gfa, the costs of balconies and planters will be higher and hence developers will be less inclined to include them in project designs. presently, i'd see the balconies offered as being "subsidised", reason being, developers mark up based on purchased costs, which at the moment minus the government's cost component for balconies & planters components.
KR's strengths lie not only in the mrt and that pro is currently being shared by KM too. if compared to other locations, yes, kovan's network is better as it's 1-stop away from the serangoon mrt interchange that connects to the north/west and east/west mrt lines.
if compared to KM, there's no need to elaborate. as for the prices, it is consistent with the market prices at mass market locations, with the same scale, floor, orientation, location. however, it is better in terms of exterior designs as the developers put in more efforts to differentiate itself from other template condo designs. KR's exterior design scores well A2-A1 quality. on the other hand, its interior design simply adheres to basic design concept which maximises available space. it's basically simple yet elegant B3. in terms of interior layout design, more focus has been put into the living area, a place for bonding and the rest rooms, a place to unwind and refresh for the day.
for those choosing to enter the mass market at this moment, you're advised to at least pick one midway of whichever lines, not at the far ends of them. those in the further ends are cheaper but will have less market resale appeal and transport time/cost benefits.
the 3 new concept features - the dining pavillion, cabanas, the spa pavillion are meant to value add to your lifestyle instead of just bbq bbq bbq. just like the balconies and planters. if u're not ready to adapt yourself to inject new living habits, even if given a bigger box, u'll continue to let yourself live the same old ways. allow yourself new stimuli so as to enrich your lifestyles.
Haha...spoken like a true agent...maybe when i have time can point out your flawed arguments...
Haha, hi unregistered001, care to share some of your views for the sake of other prospective buyers in order for all of us to make a more informed choice?
Private housing market colleapsing very soon, by end year prices will go down by at least 30%, why buy anything now?
Unregistered0001 - yes, pls do give us some time and share with us yr views and point out the flaws. everyone sees things from different perspectives, so it'll be good to learn from each other.
frankly in condo selection, with the exception to statutory related matters, there's no right or wrong answers, more important is what matters most to the buyers after considering all factors. though like it or not, lots of time, we make decision based on prices.
would sincerely like to hear a different perspective. personally, hardly accord a good pass to 3-5 projects per yr, so the eagerness to learn why the kr shouldnt make it so as to tighten selection criteria.
You say going by 30%.
They say going up by 30%.
All are talking cock cos' talk is free.
That's why people are ignoring these cocks from you and buying based on their own analysis.
Not Newbie
the post by yulishu is pretty.
'u'll notice the enclosed (shutters) effect vs the open effect at balconies'
The showflat removed the door panels leading to the balconies, in actual situation, it will be impractical to remove the panels. The 'open effect' is not there anymore.
'for balcony lovers, i think this is one of the few projects that deliver balconies similar to those in luxurious condos... not fake small sized balconies. plus in future, with balconies and planters being accoutned for in the gfa, the costs of balconies and planters will be higher and hence developers will be less inclined to include them in project designs. presently, i'd see the balconies offered as being "subsidised", reason being, developers mark up based on purchased costs, which at the moment minus the government's cost component for balconies & planters components.'
Currently you are paying the full price for balconies and planter boxes. These are the spaces which the developer got them for free hence a lot of buyers don't like the idea of paying so much $ for big balcony space for the purpose of "airing pillow and mattresses'. There is no subsidy in selling you balconies and planter boxes full price.
In the future, the developer will be more wary of providing big balconies for the reason that they will have to pay full price for it and cannot profit from it. This is the reason for the government to pass the ruling to prevent developers for further exploit the system.
'if compared to other locations, yes, kovan's network is better as it's 1-stop away from the serangoon mrt interchange that connects to the north/west and east/west mrt lines. '
Why not stay near Serangoon MRT interchange then?
'however, it is better in terms of exterior designs as the developers put in more efforts to differentiate itself from other template condo designs. KR's exterior design scores well A2-A1 quality. on the other hand, its interior design simply adheres to basic design concept which maximises available space. it's basically simple yet elegant B3. in terms of interior layout design, more focus has been put into the living area, a place for bonding and the rest rooms, a place to unwind and refresh for the day. '
I agree the exterior is pretty attractive. The interior design is done by the famous Suiying design, all the three showflats are heavily treated by the ID. So effectively, what you see is NOT what you get. Noticed the sofa and carpet placement actually pushed beyond the living room boundary to the balcony? It is not realistic given that the actual house will have door sliding tread across the floor. In any case, any serious buyer should differentiate between what will be provided by the developer and what is ID treatment.
'the 3 new concept features - the dining pavillion, cabanas, the spa pavillion are meant to value add to your lifestyle instead of just bbq bbq bbq. just like the balconies and planters. if u're not ready to adapt yourself to inject new living habits, even if given a bigger box, u'll continue to let yourself live the same old ways. allow yourself new stimuli so as to enrich your lifestyles'
These concepts are a waste of time, and nothing new. It will probably works in the high class district where the ang mo like to wine and dine. End of the day, it will probably be filled with children and aunties overrunning the whole facilities. Why not build another tennis court instead of these? At least the 500++ household will have two tennis court instead of one.
irridium - assuming 6 sliding glass doors, they'll be pulled to each side... so left 4 panels of empty open effect.. and when we talk about open effect, it is versus full enclosed concrete... balconies/planters offers u wider options in terms of use, totally dependent on yr creativity... eg. if u shut the mind, nothing can happen... if u open yr mind, everything is a possibility...
not sure if u're in the sales biz... in sales, it's usually a case of mark-up above costs.. case 1 - so if govt charges u $100 for 100 apples and give u 5 bonus free apple, when u resell yr apples, yr costs is effectively 100/105 and yr selling price is marked up from that unit costs...compared this to case 2 - so if govt charges u $105 for 105 apples, when u resell yr apples, yr costs is effectively 105/105 and yr selling price is marked up from that unit costs...hope u understand this simple concept.. basically, all businesses exist to make profits, not loss... so the entire supply chain is accordingly marked up for each layer.....so for whatever govt charges, the developers will mark up from there... if govt doesnt charge, that's the amount u're saving, count yr blessings, which will not be the case in future...
why not serangoon? simply cos there's nothing there at the moment... if there were 2 kovan residences - one at kovan and the other at serangoon, ignoring other factors such as the facilities in each location, the kr at serangoon is a better choice.
with regard to the balconies and the furniture, i think u've not been properly explained their significance. actually, unlike you, i'm not exactly bowled over by the interiors... doesnt matter designer famous or not... the purpose of the sofa beyond the balcony doors is to demonstrate to visitors the flexibility of a balcony as opposed to an enlosed room, in a situation where u've a higher than usual guest group. u can still shift your furniture around to the immediate edge of the balcony... accommodate it and expand yr area for crowd movement...
think u'd not been cued in properly before yr showflat tour... like i always tell my visitors - when u visit a showflat to buy a new condo, imagine u're buying an empty concrete box, so the bigger the better, with kitchen and toilet stuff provided (except washing machine & fridge) plus a wardrobe in all bedrooms & aircon.. ignore the all id works completely. ... with that, we'll hear less of "what you see is NOT what you get" at showflats...fair to all parties involved...also condo living is unlike hdb or landed living... u need to be mentally prepared to welcome change and uplift yr lifestyle in the new environment..
pls go around the various condos and check the usage levels of the tennis courts... it's ok u dont appreciate the 3 new features the developers put in... but it's only fair to give due recognition for efforts put in by the developers to differentiate from the other projects by other industry veterans.... just remember, a tennis court can only benefit 2 or 4 players at one go... while each pavillions can benefit a larger crowd...
i'm hoping to hear from Unregistered0001... maybe we'll have new insights... just remember i'm not here to argue for the sake of arguments but to share a line of objective thoughts..
Kovan residences isn't exactly flying off the shelves...Basic fact is, consumers aren't sold on the development cos its overpriced...
I guess only buyers who bought it will defend it (dun worry, its natural and we understand u need to feel reassured)...
In another 6 months, there will still be empty units, unless the price drops...those who bought it early can only sucj thumbs and rail against their decision...
Not Newbie
To quote yulishu, since i have a bit of time, let me walk you through why you are wrong,
'assuming 6 sliding glass doors, they'll be pulled to each side... so left 4 panels of empty open effect.. and when we talk about open effect, it is versus full enclosed concrete... balconies/planters offers u wider options in terms of use, totally dependent on yr creativity'
having six panel of glass means there will be a need to have at least 3 sliding tread, do you have any idea how big the tread is? Moreover, how practical is it to slide 2 panel of glass doors each side open everyday? And expose your house and furniture to the dusty and sun? Kovan residence is not excactly located in the midde of a nature reserve. When the facing is bad, the more the glass, the more likely there will be greenhouse effect, making your house extremely hot and unbearable. So what you do? Make huge length of curtain to block out the sun? Which then defeat the purpose of your "open mind".
'not sure if u're in the sales biz... in sales, it's usually a case of mark-up above costs.. case 1 - so if govt charges u $100 for 100 apples and give u 5 bonus free apple, when u resell yr apples, yr costs is effectively 100/105 and yr selling price is marked up from that unit costs...compared this to case 2 - so if govt charges u $105 for 105 apples, when u resell yr apples, yr costs is effectively 105/105 and yr selling price is marked up from that unit costs...hope u understand this simple concept.. basically, all businesses exist to make profits, not loss... so the entire supply chain is accordingly marked up for each layer.....so for whatever govt charges, the developers will mark up from there... if govt doesnt charge, that's the amount u're saving, count yr blessings, which will not be the case in future...'
I dont know what are you talking about, it is fair that the developer can charge for the land + construction + profit margin. But to give huge balcony (which is given free by the government) and charge full price to the consumer is not. IT IS unethical. Why, because not everyone can open his mind like you and make full use of the balcony.
'with regard to the balconies and the furniture, i think u've not been properly explained their significance. actually, unlike you, i'm not exactly bowled over by the interiors... doesnt matter designer famous or not... the purpose of the sofa beyond the balcony doors is to demonstrate to visitors the flexibility of a balcony as opposed to an enlosed room, in a situation where u've a higher than usual guest group. u can still shift your furniture around to the immediate edge of the balcony... accommodate it and expand yr area for crowd movement... '
If you have a huge kick ass sofa, you think you can easily move it around to your balcony? You think that will be light , or practical? If you have a party on a hot day, how many of your guest want to have a suntan sitting in your kick ass sofa in the balcony? and for your infor, the balcony and living room boundary will not be smooth, unlike what you see in the showflat! There will be level difference for water drainage! add in the sliding door tread, do you think it is easy to move your furniture around much? In any event. how often will you have party? Everyday?
'think u'd not been cued in properly before yr showflat tour... like i always tell my visitors - when u visit a showflat to buy a new condo, imagine u're buying an empty concrete box, so the bigger the better, with kitchen and toilet stuff provided (except washing machine & fridge) plus a wardrobe in all bedrooms & aircon.. ignore the all id works completely. ... with that, we'll hear less of "what you see is NOT what you get" at showflats...fair to all parties involved...also condo living is unlike hdb or landed living... u need to be mentally prepared to welcome change and uplift yr lifestyle in the new environment..'
If that is the case, see the showflat for what? just sell off the plans then.
'pls go around the various condos and check the usage levels of the tennis courts... it's ok u dont appreciate the 3 new features the developers put in... but it's only fair to give due recognition for efforts put in by the developers to differentiate from the other projects by other industry veterans.... just remember, a tennis court can only benefit 2 or 4 players at one go... while each pavillions can benefit a larger crowd... '
Why dont you go to various condo and tell us what is the usage level? you are the agent after all. I will give due recognition, if only it is not a lame half hearted attempt to do so. Some projects are due to greatness, some just try too hard,
Wow..I went down to showflat expecting to be impressed..and I was..by the showflats...the other things..not so much...
I think this development is sadly overpriced...set against the available ones in the area like Kovan Melody for 1, its going to be a hard battle convincing the general public it is special...
With the economic uncertainty hanging in the near horizon, i doubt the project will be a hugely successful..it tries to offer unique "gems" like the alfresco dining and massage sanctuary, but is simply positioning these as "good-to-have" ...
Private Residential Units Sold in the Month of August 2008
Project Name ..... Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Kovan Residences . OCR ....... 9 ............................... 954 ................ 895 ............... 797
No use of telling theory here. Die hard buyers still buying. So what even the whole Singapore economy collapse. We have to admit that market flooded with money in Singapore. Economy theory does not applied here.
Economy theory applies definitely. IF whole of Singapore economy collapse as you said, then businesses will fail and people will lose jobs. In that case, the demand for private properties will be hard hit and thus economy theory applies. Developers for Prime districts are now more willing to give additional discount to get rid of their inventory.
Prices of Kovan Residences will drop once those rich players get hit badly in their personal finances. IF the economy does not recover soon, the current prices will be unsustainable. Common sense.
Whoo hoo!!!!!!!!!!! Thaman says that SG will go into technical recession soon!!!!!!!!!!!
It is wrong of you to misquote me. Please be a responsible netizen.
I said "it is possible". I did not say "it will" or "it will soon".
I did say "it is too early to make a prediction and much depends on developments in the U.S.".
Wow! $954 psf? No bad what!
This is dumb lah...really lousy location...can tell by the sales, still so many (80%) unbooked...
the market is down, so the slow sales. i don't think it is in a lousy location.
it is not a bad place to buy if priced reasonably, but if you attach that kind of exorbitant price to it, the price and location doesnt seem to match.
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