The Centris @ Jurong Point

[ps16]

what a joke. Centris is surroundd by hdb flats whch share the same amenities. The only thng extra is a swimming pool, gym n security guard. There r sme hdb flats ard with much better view than wat centris's 2 odd lookng slab blocks have to offer. In terms of rental, the those hdb flats around will fetch much better rental yield as cost of buying is low n will also be much easier to rent out. There centris is faced with stiff competition n is far frm being a rental favourite in that area

Well, with all due respect, agree that a HDB will probably give a better rental yield but how many HDB flat can you buy? If you already have one, you can't get another.

Centris, been a condo will always attract tenants who have a bigger budget than those who can only afford rental at HDB flat. An analogy, Jurong Point has lots of eateries. The food courts sells a bowl of noodles starting from $3, while Ding Tai Fung could be at $10, why is then DTF so crowded at peak hours?

Looking realistically at the condos in Jurong; Lakeshore, Parc Oasis, Mayfair, etc.....they are all surronded by HDBs but still they are giving good rental yield. So, I expect Centris to also do well.

[Regulators]

true that you can only own 1 hdb, so for investment wise, it is best to buy a condo in the central as there will be few hdb landlords to compete with you for rental. competition among pte ptys for rental is not so bad as prices will never hit rock bottom. imagine if you buy a 2 bedder in centris for 6xxk and wish to rent out for 3k a month just to get a decent 4% yield, many hdbs around 6xx series (near jurong point) in jurong west with bigger units to offer (5 roomers) can be rented for just 2k a month and have the same amenities as centris tenants. If you think that a pool and gym is going to make all the difference, think again. Many tenants are more interested in amenities and transport so facilities is not their primary concern.

Well, with all due respect, agree that a HDB will probably give a better rental yield but how many HDB flat can you buy? If you already have one, you can't get another.

Centris, been a condo will always attract tenants who have a bigger budget than those who can only afford rental at HDB flat. An analogy, Jurong Point has lots of eateries. The food courts sells a bowl of noodles starting from $3, while Ding Tai Fung could be at $10, why is then DTF so crowded at peak hours?

Looking realistically at the condos in Jurong; Lakeshore, Parc Oasis, Mayfair, etc.....they are all surronded by HDBs but still they are giving good rental yield. So, I expect Centris to also do well.

[bluesky77]

From some of the conversation I had with the agents, I kind of deduce that there are quite a number of sellers who will want to offload asap but on the other hand, they may not be the first buyer, probably the 2nd or 3rd owner, thus their buying price is on the high side. Desperate to sell and must be at $600+psf.

In such case, we shld wait for TOP then.

[bluesky77]

true that you can only own 1 hdb, so for investment wise, it is best to buy a condo in the central as there will be few hdb landlords to compete with you for rental. competition among pte ptys for rental is not so bad as prices will never hit rock bottom. imagine if you buy a 2 bedder in centris for 6xxk and wish to rent out for 3k a month just to get a decent 4% yield, many hdbs around 6xx series (near jurong point) in jurong west with bigger units to offer (5 roomers) can be rented for just 2k a month and have the same amenities as centris tenants. If you think that a pool and gym is going to make all the difference, think again. Many tenants are more interested in amenities and transport so facilities is not their primary concern.

We can not compare the rental yield between condo and HDB, for sure HDB will fetch the higher rental return.

But if we are comparing rental yield between lakeshore and The sail, i got the following data from URA:

2009Q1
The sail : $3.85 - $4.92 psf
Lakeshore : $3.25 - $3.59 psf

The sail transact at abt average $1500psf, lakeshore is at $700psf.

Do you math and tell me which one has higher rental yield.

[Regulators]

no need to compare rental yield between hdb and condo coz it is a no brainer. as for sail and lakeshore, you have to compare first owner and first owner's price coz the current pricing for the sail is crazy.

As for centris I was referring to rental prospects for centris vs surrounding hdb. for lakeshore, there is probably a resort and exclusive feel to the place and the size of the development makes tenants feel that it is worth paying for. as for centris, if the selling point is simply being near jurong point, it aint much of a selling point at all, right? there is also no resort feel to the place and not much of a view for the residents from their units.

We can not compare the rental yield between condo and HDB, for sure HDB will fetch the higher rental return.

But if we are comparing rental yield between lakeshore and The sail, i got the following data from URA:

2009Q1
The sail : $3.85 - $4.92 psf
Lakeshore : $3.25 - $3.59 psf

The sail transact at abt average $1500psf, lakeshore is at $700psf.

Do you math and tell me which one has higher rental yield.

[bluesky77]

no need to compare rental yield between hdb and condo coz it is a no brainer. as for sail and lakeshore, you have to compare first owner and first owner's price coz the current pricing for the sail is crazy.

As for centris I was referring to rental prospects for centris vs surrounding hdb. for lakeshore, there is probably a resort and exclusive feel to the place and the size of the development makes tenants feel that it is worth paying for. as for centris, if the selling point is simply being near jurong point, it aint much of a selling point at all, right? there is also no resort feel to the place and not much of a view for the residents from their units.

No doubt that lakeshore has better view than centris, but it has to cross a traffic light to mrt and there is no shopping center nearby, the nearest one is jurong point.

i am not sure which condo will fetch the higher yield, just wait for the centris TOP lor.

[ps16]

Some updates from chat with agents.....

Actual TOP date has not been informed to owner yet, so some owners might not have secured their loan. Price still remain high(my context), at about 850K to 900K for the 1.2K+ sqft unit facing the pool. Those facing outside are probably on the high side of 700K.

Question today I have is, given that banks are so conservative in their valuation (= loan amount), will the current owner have problem securing their loan? And if yes, doesn’t it mean that we might see some drop in Centris pricing in the next few weeks, especially after the notice of TOP date is served?

[bluesky77]

Some updates from chat with agents.....

at about 850K to 900K for the 1.2K+ sqft unit facing the pool. Those facing outside are probably on the high side of 700K.

?

seems like the worst recession had not affected too much on the mass mkt condo???

[FiveStar]

I think you are dreaming in the daytime...
If you want to get one unit, you have missed the best time in March when the price is the lowest. Don't trust agents too much... I am an investor and an owner as well of centris. I don't think there are still owners didn't secure bank loan.

In March, I wanted to sell one unit at 650K, nobody dare to buy. now I keep my unit but many agents pleaded me to sell even at more than 700k.... Many agents advised on newspaper that they have many units to sell, but if you really call in to buy, no unit at your price availabe however...

After TOP, I think the price will keep going up, let's see...

Some updates from chat with agents.....

Actual TOP date has not been informed to owner yet, so some owners might not have secured their loan. Price still remain high(my context), at about 850K to 900K for the 1.2K+ sqft unit facing the pool. Those facing outside are probably on the high side of 700K.

Question today I have is, given that banks are so conservative in their valuation (= loan amount), will the current owner have problem securing their loan? And if yes, doesn’t it mean that we might see some drop in Centris pricing in the next few weeks, especially after the notice of TOP date is served?

[Regulators]

if prices in this kind of lok kok area can go up to 800 to 900psf it is go news for owners in prime areas. The sail n MBR will be selling at at least 3k psf, st regis at 5k psf...LOL

[ps16]

I think you are dreaming in the daytime...
If you want to get one unit, you have missed the best time in March when the price is the lowest. Don't trust agents too much... I am an investor and an owner as well of centris. I don't think there are still owners didn't secure bank loan.

In March, I wanted to sell one unit at 650K, nobody dare to buy. now I keep my unit but many agents pleaded me to sell even at more than 700k.... Many agents advised on newspaper that they have many units to sell, but if you really call in to buy, no unit at your price availabe however...

After TOP, I think the price will keep going up, let's see...

There is really no such thing as missing the boat. Nobody knows when is the bottom and nobody knows when is the top, else you won't have tried selling your unit in March, right?

What is important is that if you go in to buy, it has to be at a price you are comfortable and believe that there are upside potential.

At this point of time, I am willing to just sit around and see how things develop in the next few weeks. If all owners safely secure their loan and price remains at current level, then I will just skip Centris and look at other project. I won't fall in love with Centris because it is to me just another investment avenue.

[Condorich]

There is really no such thing as missing the boat. Nobody knows when is the bottom and nobody knows when is the top, else you won't have tried selling your unit in March, right?

What is important is that if you go in to buy, it has to be at a price you are comfortable and believe that there are upside potential.

At this point of time, I am willing to just sit around and see how things develop in the next few weeks. If all owners safely secure their loan and price remains at current level, then I will just skip Centris and look at other project. I won't fall in love with Centris because it is to me just another investment avenue.

That is correct... and I would love to miss the Titanic. I do see a storm brewing.

You have to look at the potential, why go in when it is on a downward trend? It is not like the world economy has recovered though there are mixed sentiments that it has probably reached the bottom. It is at best mixed sentiments and not widely accepted views, get it?

There will be owners who cannot secure loans comes TOP and it is true not just for Centris but for possibly for all developments that was bought under DPS and nearing its TOP. Some investors (without the intention to hold to the units till TOP) will be burnt if they cannot secure loans. There are smarter guys who sell below the peak/prevailing market rate in anticipation of such a scenario. An example would be Beacon, once reached more than $1xxx psf but it has been declining since its peak.

One should consider if and only if he needs a roof and there are no better alternatives elsewhere.

[ps16]

Same sentiment here, Condorich. We haven't really recover, we are just doing better than the lows 6mths ago. If we have, export and GDP would have been much prettier.

[Condorich]

Same sentiment here, Condorich. We haven't really recover, we are just doing better than the lows 6mths ago. If we have, export and GDP would have been much prettier.

Good judgement and thanks for sharing the same view. I would say there are agents lurking around and trying to present a view that is overly optismistic. While we are not pessimistic, I do hold a 'cautioned view'.

With not much new foreigners to soak up the demand in the short run, it is mainly the self stay/upgrading folks that is in action. Anyone going into the market for a quick buck should be prepared to sit out till GDP is at least positive.. it takes a while longer before property becomes more resilient.

[wqmai]

One should consider if and only if he needs a roof and there are no better alternatives elsewhere.

Partially agreed. For investment, I wont say now is a bad time to go in since now is not the peak.

A lot of people like to buy things at the peak, whether its car, shares, property.

When low, they say it will go lower, lower and lower. When economy had recovered and price much higher, they said that now is the time to go in. Smart ones will cash out when majority are going in, waiting for the next recession.

This had happened not once, twice, but many many times. Thats why the only way to be sure of earning money is buy during recession, buy when people are selling. Wait for economy to recover to buy when majority is buying, I would say not bad also cos those bought during recession can cash out.

[Condorich]

Partially agreed. For investment, I wont say now is a bad time to go in since now is not the peak.

A lot of people like to buy things at the peak, whether its car, shares, property.

When low, they say it will go lower, lower and lower. When economy had recovered and price much higher, they said that now is the time to go in. Smart ones will cash out when majority are going in, waiting for the next recession.

This had happened not once, twice, but many many times. Thats why the only way to be sure of earning money is buy during recession, buy when people are selling. Wait for economy to recover to buy when majority is buying, I would say not bad also cos those bought during recession can cash out.

Fair view... to quote Warren Buffet - best effort, "Buy when no one is buying" or something.. meaning to say to buy when nobody dares to buy. It is a judgement call and effectively a gamble in that sense.

You make the right decision, you win more, wrong decision, stuck and suffer. It's about timing and you are right to state that "not to catch the property at the Peak". Timing wise, it is again a judgement call.

[cheerful]

Fair view... to quote Warren Buffet - best effort, "Buy when no one is buying" or something.. meaning to say to buy when nobody dares to buy. It is a judgement call and effectively a gamble in that sense.

You make the right decision, you win more, wrong decision, stuck and suffer. It's about timing and you are right to state that "not to catch the property at the Peak". Timing wise, it is again a judgement call.

agrees.
simple principle but difficult to practice.........

[Condorich]

agrees.
simple principle but difficult to practice.........

superb summary... logic reduced to buy low sell high... same with stocks except there's less liquidity in properties as compared to equilties.

Buy low sell high

Buy low sell high

Buy low sell high



The art is to know when is low and when is high... Good luck to everyone. Plus that ever needed element of luck. Now that is the formula of successful investing for u.

[Regulators]

was at jurong pt extension n happened to look up at the facade of centris thru the glass roof of the shopping complex. Damn bloody ugly dont knw why still got buyers for ths project.

[Condorich]

was at jurong pt extension n happened to look up at the facade of centris thru the glass roof of the shopping complex. Damn bloody ugly dont knw why still got buyers for ths project.

no need any reasons, beauty in the eyes of beholder.

same things goes for husband/wife selection... hope I don't offend everyone here, trying to be gender neutral. I do near from time to time the same thing "Damm bloody ugly husband/wife dont know why still got married"

Trivial for all

[Regulators]

"beauty" in the eyes of the beholder indeed.

no need any reasons, beauty in the eyes of beholder.

same things goes for husband/wife selection... hope I don't offend everyone here, trying to be gender neutral. I do near from time to time the same thing "Damm bloody ugly husband/wife dont know why still got married"

Trivial for all

[cndomay]

If driving towrds JP on Boon Lay Way, the centris looks even plainer.

I drove around JP a few weeks ago. The traffic condition is not pleasant. Cars are queing to get into JP and cars are loitering at roadside waiting for people.

But since looking for a unit to buy in Apr 09, the asking prices have gone up so much, I have stopped considering it. What used to be $610K is now asking for $700K.

If original owner had bgt at 450PSF, they are now asking for 700+PSF.

amazing!

[FiveStar]

I walked around JP today and found it's still early to TOP while workers are working on the windows. Don't know how long it will delay? July? August?

[FiveStar]

It's not amazing at all, if you dare to bought shares 3 months ago, now your portofolio prices DOUBLED already. no mention people bought the house 3 years ago.

This is called investment.

Don't go against the market, follow the market is the smart people's choice.

If you think 700 psf is too expensive now, maybe two years later you will realize it was so cheap then... Remember Lakeshore 's record price is around 1000 psf.

If driving towrds JP on Boon Lay Way, the centris looks even plainer.

I drove around JP a few weeks ago. The traffic condition is not pleasant. Cars are queing to get into JP and cars are loitering at roadside waiting for people.

But since looking for a unit to buy in Apr 09, the asking prices have gone up so much, I have stopped considering it. What used to be $610K is now asking for $700K.

If original owner had bgt at 450PSF, they are now asking for 700+PSF.

amazing!

[Regulators]

wow i hope more idiots will pay 1kpsf for cndos in jurong to up prices in the central. I am happy with my less than 1kpsf buy in the central n look forward to readng mre bizarre record sales in the suburbs

It's not amazing at all, if you dare to bought shares 3 months ago, now your portofolio prices DOUBLED already. no mention people bought the house 3 years ago.

This is called investment.

Don't go against the market, follow the market is the smart people's choice.

If you think 700 psf is too expensive now, maybe two years later you will realize it was so cheap then... Remember Lakeshore 's record price is around 1000 psf.

[Tonisee]

wow i hope more idiots will pay 1kpsf for cndos in jurong to up prices in the central. I am happy with my less than 1kpsf buy in the central n look forward to readng mre bizarre record sales in the suburbs

I bought (sub-sale) a 2-rm unit facing the park for $5xx-plus two years ago. In the last few months, agents had been calling me to ask to market my unit at $6xx-plus. One even offered to come down immediately to give me a downpayment for sale at $650,000. But no thanks. Centris is located in a convenient place with easy access to MRT, highways and with all amenties nearby. For sure JP is very popular and this leads to traffic jams but this makes the place more lively and vibrant. It also means our land is profitable and highly desired. With NTUC available 24/7 and a well-planned shopping centre at your basement, and the easy access to transportation, Centris will be highly desired by foreigners working in Jurong area and therefore easy to rent out.

I am glad I bought a unit at Centris. Of course, I understand every condo has its advantages and disadvantages. Still I am unsure why people like "Regulators" who apparently do not have a unit in Centris, want to come into this thread to thrash and put the condo and owners/buyers down. Expressing a view and exchanging views are good and healthy. But why must they give labels and scoff at those who like Centris? Not looking for a quarrel but just wondering.

[surfuz]

Seems like mostly investors here. The Centris owners who buy for stay are at the other forum.. LOL.

[Regulators]

Aiya why bother selling at even 800psf even, go and advertise for 1000psf and i am sure some people will pay for your unit in centris. i will be very happy for you.

I bought (sub-sale) a 2-rm unit facing the park for $5xx-plus two years ago. In the last few months, agents had been calling me to ask to market my unit at $6xx-plus. One even offered to come down immediately to give me a downpayment for sale at $650,000. But no thanks. Centris is located in a convenient place with easy access to MRT, highways and with all amenties nearby. For sure JP is very popular and this leads to traffic jams but this makes the place more lively and vibrant. It also means our land is profitable and highly desired. With NTUC available 24/7 and a well-planned shopping centre at your basement, and the easy access to transportation, Centris will be highly desired by foreigners working in Jurong area and therefore easy to rent out.

I am glad I bought a unit at Centris. Of course, I understand every condo has its advantages and disadvantages. Still I am unsure why people like "Regulators" who apparently do not have a unit in Centris, want to come into this thread to thrash and put the condo and owners/buyers down. Expressing a view and exchanging views are good and healthy. But why must they give labels and scoff at those who like Centris? Not looking for a quarrel but just wondering.

[cndomay]

Centris has many advantages. Congrats to those who bgt in 2006. You will make a relatively large fortune if you sell now.

I dare not buy over from a sub-seller at today's asking price. Cheers!

[kongming]

wow i hope more idiots will pay 1kpsf for cndos in jurong to up prices in the central. I am happy with my less than 1kpsf buy in the central n look forward to readng mre bizarre record sales in the suburbs

Bcos no idiots want to buy that high price in central, hence they comes to Jurong....im happy to see my property price appreciates here in Centris.