at 2k or 2.2k psf might as well buy Sail studio or MBR ....Originally Posted by andy
at 2k or 2.2k psf might as well buy Sail studio or MBR ....Originally Posted by andy
Just came back from the showflat.
I am shocked with the price ! Overall, the concept is good, it stands out from the rest of the condos in the area. This is more like the Icon kinda concept, where we expect most of the units to be rented out to people who maximise the facilities (ie high wear and tear if not careful).
This certainly set the benchmark price for Novena/Newton area.
Was keen on stack 7, but guess dont have the guts to buy something at benchmark prices ...
DKSG
Yes this is benchmark prices for this area.Originally Posted by DKSG
Also it is a bet on the life-style where you use the unit for sleeping and the rest of the facilities on the 24th floor for time-share entertainment & recreation, including outdoor gourmet kitchen.
I think it's gonna to be a winner
The quantum for <500sqft or even at <1100sqft is still affordable at 2000psf. Let's see how the market reacts.
What a difference a year makes.Originally Posted by andy
Koh Brothers et al. were looking like the biggest suckers who had overpaid for the Lincoln Lodge en bloc at $1,450 psf ppr.
Now it seems that the land cost has been lowered to $1,200 psf ppr due to development charge adjustments, and they are able to sell at $2,000+ psf !!!
Looks like fortune favours the bold.
I don't understand why OUE sold The Parisian to Sonangol Land.Originally Posted by jlrx
OUE already rode the downturn and sold it after prices has started to climb and construction has also began. I believe OUE should have waited like the Koh Brothers
what are you talking about? 1033sq ft 2 bedder i was quoted 15xxpsf, what is this talk about 2000psf? isn't it only the tiniest studios on high floors that are sold above 2000psf?
Originally Posted by andy
I think OUE has been a bit unnerved already.Originally Posted by andy
They still have The Grangeford site which they had bought at $1,810 psf ppr.
Maybe they don't want to bear too much risk in case the market turns downwards again; and also perhaps they might want to raise capital to reduce their financing cost for developing The Grangeford.
When the market "cheong" upwards, everyone was very bold in buying (just look at Bukit Sembawang) but when the market turned downwards, everyone got butterflies in their stomach.
I'm sure Koh Brothers must have been peeing in their pants over the past year (thanking heaven that they were not in this alone, with partners Heeton, KSH and Lian Beng), but now they must be regretting why they hadn't bought Lincoln Lodge on their own.
Between 10-15th floor, 1033 => $18xxpsfOriginally Posted by bargain hunter
Between 10-15th floor, studio => $20xxpsf
in that case, trilight 2 bedder is a better buy if we strictly compare between the 2.
Originally Posted by andy
Have seen both.Originally Posted by bargain hunter
Non noon sun units of Trilight face a 6 lane newton road. LS will be quieter.
Quantum for the 1100 sqft units are about the same for both but LS definitely more rentable in my opinion.
Capital gains, I'm still undecided but I'm watching Dunearn Gardens and Rosevale
http://www.businesstimes.com.sg/sub/...55140,00.html?
Published October 21, 2009
Lincoln Suites launched at average $1,680 psf
By UMA SHANKARI
THE four property developers who jointly bought freehold Lincoln Lodge more than two years ago in a collective sale intend to launch the project tomorrow, they said yesterday.
The developers - Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group - paid $243 million for the District 11 property along Khiang Guan Avenue at the height of the property boom in June 2007. But they put off launching the project as the property market went south soon after.
Now, with the market seemingly staging a recovery, the 175-unit Lincoln Suites will be rolled out, beginning with invited guests tomorrow. The first phase of the launch will see 56 units offered at an average price of $1,680 per square foot (psf).
The consortium paid significantly more than the reserve price of $188 million for the project in 2007 as it was 'very interested' in the site. There were several bids for the site.
It was then estimated that the $243 million forked out worked out to $1,449 psf per plot ratio (ppr) including an estimated development charge (DC) of $413,000.
However, Koh Brothers chief executive Francis Koh said yesterday that since there was no DC payable - among various things - the land cost has since been lowered to around $1,200 psf ppr. Launching the property at $1,680 psf during the first phase will therefore still give the developers a 'healthy' margin, Mr Koh said. Prices could be raised when units are launched in subsequent phases.
'We have partners who are contractors. So we tried to keep the construction cost low, without compromising on the quality,' said Mr Koh. Construction costs have fallen 15-20 per cent over the past year. The developers also allowed occupants to keep renting apartments while holding off tearing down the existing project, and the rental income from this will subsidise building costs, he added.
The interest absorption scheme (IAS) is being offered at the property at a 2 per cent premium over the normal progressive payment scheme. Under the IAS, a property purchaser will not have to make any significant payment (apart from the upfront 10-20 per cent downpayment) until the housing project is completed.
The 30-storey Lincoln Suites will have 44 studio units, 124 one to four-bedroom units, four duplexes and three penthouses. Apartment sizes will range from 463 sq ft to 5,490 sq ft. Many of the units will be small as current market sentiment favours building smaller apartments, said Mr Koh.
Construction is expected to being in the second half of 2010 and the project will receive its temporary occupation permit by end-2014.
Wow!Originally Posted by andy, 9 hours ago
It seems like there is quite a contrast between what was reported and what happened on the ground?
Originally Posted by Reporter, 3 days ago
hello. normal road lah like in any estate.Originally Posted by andy
u say as if it's a CTE/PIE highway.
LS sandwiched betwn bldgs wth no views?
now prices move n can move again upwards. aaaaargh. talk talk talk
scared of this scared of that
my comments
new launches obviously smaller in sizes wth lots of creative space. new launches mny older investors complain.
demand still there lor for ppl who missed boats n yg couples.
developers recoup land cost
sub-sale prices still nt catch up. n completed. wht u c is wht u get.
i hear 3 fund mgrs waiting to buy (hear only - only ura show later)
My issue is not with the 6 lane roads, but rather when travelling on Newton Road (or along Bukit Timah Road or Dunearn Road or Scotts Road) and going into Newton Circus, always jammed like hell and accidents are common there. Obviously, not facing a busy and noisy road is better.
Originally Posted by andy
I've lived along Newton road, have you?Originally Posted by richie$$$
Not so bad as you described. LS also have to pass thru S'pore only Circus. Going by Thomson isn't much better since getting into United Square is always jammed..............Originally Posted by teddybear
sooner or later will put ERP there one...
Actually can avoid passing through Newton Circus most of the time if you are on the Novena MRT side (but not for those near Newton MRT side like Trilight etc). Needing to get any of the small road along there like Khiang Guan Road is a pain.
Originally Posted by andy
Heard Agent mentioned that at least 41 of the first batch of 56 units sold. Public launch next weekend. Wonder how much Lincoln Residence is selling now. It was selling at 1300pfs for 4 rm. How come that project which comes with a tennis court and pool, is still not a sellout?
Heard from the marketing agent that the 3BR and 3+1BR units at Lincoln Residences are already sold out. What's left now are the bigger 4 BR units (which constitute 50% of the total units). I think they are selling at $1400-$1500psf (i could be wrong). I guess the units are moving slowly because they are 4-BR and the facing is not so good.Originally Posted by ekl2ekl2
only 41? i thought 39 units were sold on thursday alone?!
lincoln residences has no tennis court, only a pool.
maybe the developer has held back the remaining units for lincoln residence?
Originally Posted by ekl2ekl2
Lincoln Residences has a 34m lap pool and a tennis court.Originally Posted by bargain hunter
Recreational Tennis Court is not the same as tennis courtOriginally Posted by naleem
Originally Posted by bargain hunter
We went this weekend, Lincoln Suites showflat not opened. that may explain why no further increase in sales.
so? when was it?Originally Posted by andy
prime area last time compared 2 now?
u expect lower traffic with higher no of cars on d road.
balestier thomson tp also jam. east coast?
Who is talking about the number of cars on the road? We are comparing road noise between LS and Trilight.Originally Posted by richie$$$
LS will have less roadnoise compared to Trilight
LS is sandwiched by bldgs. ok 2 buy if no view?Originally Posted by andy
trilight faces newton road n shld hv clear view of city.
same 6-lane newton rd stretches 2 newton suite n novena junction n LS is behind newton suite.
noises travel whether u face or d main rd or nt. n trilight is at start of newton rd. noise pollution if everyone drive ferrari. can make loud noise within 100m at start of newton rd
if u r talking abt dust n u buying a low flr, then problem la.
just thinkng of ur logic.
Trilight got view meh? Facing Newton Road will be blocked by Miro and Rochelle in another 3 years time (regardless of floor levels). Those not blocked may likely be subjected to security screens because can see Istana (just like Newton One). Those behind blocked by Setia, Residences@Evelyn, Dunearn Gardens. To the side blocked by Newton One, Newton Euro-Asia, and L'Viv (in another 3 years time).
Lincoln Suites really no view mah? Actually some of the stacks on high floors have a very nice pocket of views towards Novena Suites.
Newton Circus I am very scared - always try to avoid there, too many misses and near collision by some goondus who don't seem to know what is the circus traffic rules. When jammed the traffic jam also very very bad.
Originally Posted by richie$$$
JlrxOriginally Posted by jlrx
You make my day. Where did u come up with this sentences.