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Thread: Kovan Residences (D19, 99 years Leasehold, Duchess Development)

  1. #121
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    Quote Originally Posted by Fishsee
    Was at the showroom 2 days ago. Was told tat all 3 rooms at the mid floors (4th - 9th) are sold.... Dunno real or not? Agent keep selling me the the high floors from 10th floors onwards. Was quoted $681/sqft for 10th floor unit. A 3rm at 1281 sqft still cost $872k which I think is still high for a 99 yrs at that area.
    Maybe the developer bought the land at a higher price....

  2. #122
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    cannot afford go back to hdb lor

    not big a difference wad

  3. #123
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    Quote Originally Posted by TKT
    Was also there about one week ago.
    IMHO, price is simply too high for 99yrs at Kovan.

    I'm waiting for below 550psf for a mid-high floor 1281sft unit... which at seven hundred thousand singapore dollars... to me, that is still hell of a lot of money!
    I'm targeting that price too. Do let me know if the price drop to that range....

  4. #124
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    Quote Originally Posted by TKT
    Was also there about one week ago.
    IMHO, price is simply too high for 99yrs at Kovan.

    I'm waiting for below 550psf for a mid-high floor 1281sft unit... which at seven hundred thousand singapore dollars... to me, that is still hell of a lot of money!
    i think you need to wait a very long time... if price fall below 580psf, i will grab!

  5. #125
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    everything is possible now, look at citi, crashed from 55 to $2 ... ...

  6. #126
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    Quote Originally Posted by ipoh72
    everything is possible now, look at citi, crashed from 55 to $2 ... ...
    yes everything is possible, but if that happens, we all will be in trouble

  7. #127
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    Quote Originally Posted by ipoh72
    everything is possible now, look at citi, crashed from 55 to $2 ... ...

    Amazing aint it??!!!
    I keyed in 20lots of Citi at usd1.99 and amazed got it within hours...
    Wish I had enough guts (and cash!) to key 200lots instead that night, hahaha...
    Well, I'm keeping that 20lots for longterm.


    About 550psf... its not impossible...
    We bought a 3BR FREEHOLD D15 unit for less than 600psf only less than 3years ago.
    So, for Kovan... why NOT?!

  8. #128
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    Question Is your investment in Kovan residences safe

    Hi this is my maiden posting
    Have been looking at KR and learnt from this forum that the developers are the remisier kings UOB Kay Hian's David Loh, 45, and Han Seng Juan, 46.

    Did some research on the internet and found out further that the developer is Centurion Properties (Centurion Properties is ultimately controlled by UOB-Kay Hian stockbrokers Han Seng Juan and David Loh Kim Kang, Lian Beng has 19% stakes)


    The following is a story from business times on them

    http://www.asiaone.com/Business/My+M...915-87760.html
    Would like to check with the bros and sis in this forum.
    1. If buyers have placed downpayment, what will be the exposure is developer go bust.
    2. I know this kind of things seldom happen in Singapore, unlike other countries with half-built buildings dotting the skyline, but better check in this kind of troubled times.
    Last edited by upgrader; 11-04-09 at 22:59. Reason: wrong url posted, updating it

  9. #129
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    Quote Originally Posted by TKT
    Amazing aint it??!!!
    I keyed in 20lots of Citi at usd1.99 and amazed got it within hours...
    Wish I had enough guts (and cash!) to key 200lots instead that night, hahaha...
    Well, I'm keeping that 20lots for longterm.


    About 550psf... its not impossible...
    We bought a 3BR FREEHOLD D15 unit for less than 600psf only less than 3years ago.
    So, for Kovan... why NOT?!
    very brave and enough gut of u to use 1.99 to buy a empty shell-worse than bankrupt bank !

  10. #130
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    Visited the showflat during the weekend. Looks like their new pricing is attracting lots of interest. I think they sold quite a few unit last weekend. But i felt that the balcony + planter is taking up quite of lot of space, which is abit un-necessary. 3 bedrm layout so-so. for a non pool facing unit ard 12 floor cost ard $700 psf. If the units are starting the move with these new pricing, then it's abit hard for the price to drop further liao.

  11. #131
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    Agent sms me ask me to quickly decide if I'm really interested as price wil be adjusted upwards this weekend...hmm.... let's see if it's real.

  12. #132
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    Quote Originally Posted by Fishsee
    Agent sms me ask me to quickly decide if I'm really interested as price wil be adjusted upwards this weekend...hmm.... let's see if it's real.
    I was informed too. But I think the remaining units with special prices are either facing the main road or facing the terraces behind with west sun.

  13. #133
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    any one know the price increase?

  14. #134
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    Quote Originally Posted by vincenthse88
    any one know the price increase?
    Understand it's 3-5% but sorry I don't have specifics.

  15. #135
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    Quote Originally Posted by Fishsee
    Agent sms me ask me to quickly decide if I'm really interested as price wil be adjusted upwards this weekend...hmm.... let's see if it's real.
    lets hope that its not another trick employed by those agents..

  16. #136
    mr funny is offline Any complaints please PM me
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    http://www.straitstimes.com/Money/St...ry_367769.html

    April 24, 2009 Friday

    Koh Brothers targets Kovan condo at HDB upgraders

    By Joyce Teo, Property Correspondent


    The five-storey Fiorenza, which features an Italian theme, will have an imported glass jacuzzi on all the balconies. -- PHOTO: KOH BROTHERS

    KOH Brothers Group hopes to tempt HDB upgraders with the release of a small Kovan project this weekend while it holds off launching high-end properties until the time is ripe.

    The freehold Fiorenza in Florence Road has 28 units and will be priced at $790 per sq ft, or between $749,000 and $1.2 million per unit.

    There are two- and three-bedroom units ranging from 840 to 1,442 sq ft in the five-storey block as well as penthouses of 1,378 to 1,851 sq ft each.

    In the same area, the 521-unit Kovan Residences, which is nearer the Kovan MRT station than Fiorenza, still has unlaunched units. The 99-year leasehold project went for about $880 psf last year but those levels have since been cut. Last month, 56 units were sold at a median price of $705 psf.

    Koh Brothers is offering the interest absorption scheme at a 2 per cent premium for Fiorenza.

    Chief executive and managing director Francis Koh said the project would feature a glass jacuzzi imported from Italy on all the balconies. Each unit will also get a multi-room digital music system.

    Koh Brothers had planned to release Fiorenza in the second quarter of last year. It was also hoping to launch the high-end Lincoln Suites off Newton Road by early this year, but the market has not been in its favour.

    With high-end demand still muted, the launch is unlikely anytime soon.

    Mr Koh said the consortium would continue to lease out Lincoln Lodge - which is the site for Lincoln Suites - right into next year. It had, together with Heeton Holdings, KSH Holdings and Lian Beng Group, bought Lincoln Lodge at the height of the property boom in 2007 for $1,449.30 psf per plot ratio.

    Koh Brothers has other development projects in the pipeline which it is holding until an appropriate time.

    'The market may change very quickly. It can go up quickly, it can also come down quickly,' said Mr Koh.

  17. #137
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    Quote Originally Posted by 0412
    lets hope that its not another trick employed by those agents..
    i also encounter agents who persuade me to commit immediately to secure the price because developer will increase price soon. if it is a trick, i think they are very unethical.

  18. #138
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    Quote Originally Posted by ras
    i also encounter agents who persuade me to commit immediately to secure the price because developer will increase price soon. if it is a trick, i think they are very unethical.
    I thought it was a trick too. But I did some shopping at some developments. It is confirmed that KR has increased price. I heard that W28 will increase by 1%. OG cannot negotiate anymore (20% off list price -take it or leave it).

    Overall experience, things moved up a little. It may be a dead cat's bounce though. It's anybody guess.

  19. #139
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    i see. thanks for the info.

  20. #140
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    Quote Originally Posted by ras
    i also encounter agents who persuade me to commit immediately to secure the price because developer will increase price soon. if it is a trick, i think they are very unethical.
    i totally agree with u...i met one agent in DBR who even go to the extend to buying drinks for me.really pressure selling...

    its a common sight in the show room..

  21. #141
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    Default 99

    why look at 99 when price of FH is also dropping ... ....

  22. #142
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    Quote Originally Posted by ipoh72
    why look at 99 when price of FH is also dropping ... ....
    herd instinct ...long queue means food is good ...

  23. #143
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    shud say why bother buying 99 when can buy FH or 999 at same or better price plus near amenities
    Quote Originally Posted by proud owner
    herd instinct ...long queue means food is good ...

  24. #144
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    Quote Originally Posted by ipoh72
    why look at 99 when price of FH is also dropping ... ....
    Each property is unique by itself. Can you find any Freehold Condo just next to Kovan MRT? Walk downstairs and there's the MRT and cross the underground pass and there's heartland mall. Many people assigned value to such convenience. And KR prices has dropped a lot since last year when it is selling from 800psf to 900psf.

  25. #145
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    then i think they have made a mistake dropping the price of KR. In fact they shud price it at more than 1k psf for being beside mrt n near heartland mall n and make it comparable to prime districts...LOL LOL LOL
    Quote Originally Posted by Kenshinto80
    Each property is unique by itself. Can you find any Freehold Condo just next to Kovan MRT? Walk downstairs and there's the MRT and cross the underground pass and there's heartland mall. Many people assigned value to such convenience. And KR prices has dropped a lot since last year when it is selling from 800psf to 900psf.

  26. #146
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    Quote Originally Posted by Regulators
    then i think they have made a mistake dropping the price of KR. In fact they shud price it at more than 1k psf for being beside mrt n near heartland mall n and make it comparable to prime districts...LOL LOL LOL
    haha...then you buy it at 1K psf lah. Dun tink the developer will mind. At 700psf plus, they are able to move and clear some KR units.

  27. #147
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    Quote Originally Posted by Kenshinto80
    haha...then you buy it at 1K psf lah. Dun tink the developer will mind. At 700psf plus, they are able to move and clear some KR units.

    just do some homework and you will find that it's still exp for 700psf plus.

  28. #148
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    Quote Originally Posted by ipoh72
    just do some homework and you will find that it's still exp for 700psf plus.
    I hear you. But then expensive or cheap is subjective. If everyone thinks 700psf is expensive, then KR will not be able to sell any unit at all. haha....I am just coming from market point of view. There are even properties going for 850psf at Kovan area-Florence road and sold almost 50% during recent official launch. How do you explain that? Is it because freehold so worth another 150psf more in this district?

  29. #149
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    Quote Originally Posted by Kenshinto80
    I hear you. But then expensive or cheap is subjective. If everyone thinks 700psf is expensive, then KR will not be able to sell any unit at all. haha....I am just coming from market point of view. There are even properties going for 850psf at Kovan area-Florence road and sold almost 50% during recent official launch. How do you explain that? Is it because freehold so worth another 150psf more in this district?
    in a normal mkt scenario .. FH willbe 15-20 pct more expensive then 99yr ...

    i guess the florence rd one is using KR as a reference to set their selling price ..

    note : i dont think even the FH at florence is worth that price

  30. #150
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    another way to view this is 700psf (for LH in suburban) is not cheap, that's way still got unsold units till this days.

    of course, there's still people whom used to stay in that area want to remain in that area so dun mind paying for it at that price.

    also, its really near the MRT and the upcoming mega mall.

    fo course like what have been said numerous times in this forum, expansive or cheap is very subjective.

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