I don't think there is a single project in sg not affected during 2008-2009.Originally Posted by hopeful
Newbie
I don't think there is a single project in sg not affected during 2008-2009.
Newbie
What's good for Wall Street is bad for Main Street
The reason why what is good for Wall Street might not be good for Main Street is that each segment has differing and often competing interests.
Keppel is rich and can hold... play with the market.
Can individual investors of 2 bedroom units with no views do the same ?
Whatever Keppel does cannot remove their NO views...disappearing golf views.
So whilst Keppel increases....the individual owners can only decrease because what they are holding cannot be improved with the passage of time.
BUY in anticipation, SELL on news.... so now with the realisation of less than ideal units ??
Newbie
Already can see losses starting ....
$ 156,027 lost assuming no interest cost , no legal and other miscellaneous fees since 2007.
FROM URA data :
$1,415,400 :::::1,012sq ft :::: Strata ::::1,399psf in Jan-12
cost1,530,900sale-1,415,400
115,500duty40,527
LOSS156,027
Newbie
Ya, I feel it's safer to buy the sea/bay view units though quantum is higher. The sea bay view is permanent and will never be blocked, as there are no more buildings in front of Reflections.
I realized the stacks facing directly the direction towards keppel bridge, keppel yacht, IR/sentosa, sea have the best view in the whole project. (and of cos also higher psf for those units ...)
Newbie
Attached screenshots from URA showing unit that developer sold in 2007..now sold at $1,3XX psf with at least $156,XXX loss for owner.
Close to 300 unsold units with developer ( URA web-site ) and many more unsold units in block bought by Taiwanese lady.
3,628 listings for Sale / Rent ::: Reflections
Agents still trying for very high & unrealistic prices
Junior
Heng just curious, what is your interest in this project ? I'm not vested in this project (for other reasons), but just as an observer of this thread, you seem determined to talk down this project as best as you can. R u looking to buy ? Or u really want to warn others not to buy ? Never had I seen a member so aggressively putting down a project so hard, with sales charts. Tis already goes beyond normal talkcock. It does look u have some agenda on this project.
Sorry if I sound a bit unfriendly. Nothing against you or other members. Just a bit curious.
Btw for such investment projects, it's really not uncommon to see nb of ads = 3 times of nb units, especially when it has many types of layouts. Normally an agent will put ad for all types of units in a project and claim he has access to all types. Nothing new here.
For that example u posted with actual loss, do u have the exact unit number ?
Global recession is coming....
I'm not vested here. My experiences told me that you can see someone got it at a very cheap rate for a handful units but you normally can't get it. I had tried to offer (not this reflection) a few time for different projects before, someone still managed to get it at a cheaper rate for the same unit that I offered at a higher rate! Likewise for someone sold it at higher rate for a lousy stack but you can manage to sell your better units, of which you are willing to let go at a slightly lower rate.
There are many insider transactions.....
Newbie
say wat u want demand is still there esp. when mkt bounces back
reflections still best on frontage even compared 2 existing /new projects
Newbie
Maybe I am old fashion but sea vew project needs beautiful view and not view of the shell (or some other oil company) refinery that caught fire.. Those eastern facing are beautiful (more ex?) but west facing is like facing industrial estate on the sea. Of cos west sun and risk of high rise replacing the golf view.
Newbie
I am not sure about the other "sea-facing" towers, but Tower 3 and Tower 1A which faces the whole stretch of the marina yacht, sentosa, cable car and the star cruise at harbour front, is very nice. At night, the view lit up with sparkling cable cars, and sentosa night view, sometimes the residents got surprised by occasion fireworks. Not the typical east cost condo sea view separated by ECP and high road noise. Seriously, you can throw a baseball out of villa balcony and it can hit the yacht and the sea haha. I think currently the only view that can surpass this is marina bay view which are demanding higher prices.
But, definitely better than a "long kan" facing unit in punggol selling 1500psf, which are already sold out haha. This is the one, I don't understand no matter i'm old or new fashion.
Newbie
Surely regret if based on above, rush in to buy not knowing that only the bigger units ( 3 rooms and above ) or those above 11th floor got the good views and command the premium prices......
The other units can only ....
Newbie
Haha I also have the same feeling. That's what I asked Heng too in the previous posts, what is his real agenda ? And he only singled out and target at reflections, not the condos in sg as a whole haha
On the other hand, it shows that this project has attracted alot of attention and interested buyers, till there are ppl monitoring its prices every single moment haha and hoping only this condo will crash. I noticed the feb transactions for reflections are still going strong, while I must admit the resale figures of all the condos in sg is generally very quiet now. Yet, the response for new project sales/launch is good. Hmm...quite ironic isn't it, so sgporeans generally favor a higher priced new launch than a re-sale condo ?
Newbie
Ppl now can go in and view mah. Not necessarily 3 rooms, there are actually 2 bedders gems with the view too and 10th and above, but ya with premium prices too ........ I would say you pay what you get
Newbie
Heng, are we right in thinking you may be trying to psycho the market down?Haha I also have the same feeling. That's what I asked Heng too in the previous posts, what is his real agenda ? And he only singled out and target at reflections, not the condos in sg as a whole haha
On the other hand, it shows that this project has attracted alot of attention and interested buyers, till there are ppl monitoring its prices every single moment haha and hoping only this condo will crash. I noticed the feb transactions for reflections are still going strong, while I must admit the resale figures of all the condos in sg is generally very quiet now. Yet, the response for new project sales/launch is good. Hmm...quite ironic isn't it, so sgporeans generally favor a higher priced new launch than a re-sale condo ?
The posters on this board are probably mostly "free riders" in your attempt. If you can help bring prices down I may be a buyerOn the other hand, as I am already vested in the area, so I don't mind if prices go up as well!
BTW, what is the unit number for your supposed loss? If you don't produce it the suspicion will be that you are making guesses. I have a 2007 price list and see Block H 01-15 sold at $1,285psf, Block 04-55 sold at $1,324 psf.
Also, are you sure you are correct with he stamp duty? Buyer's stamp duty did not apply retoactively.
Not criticising you efforts and appreciate your data, but I like to stict to fact rather than guesswork.
Newbie
FACTS & FIGURES only : like to believe only URA data, etc and not mere hearsay : so see attached for the HARD TRUTH ?
Lucky owner not affected by SSD otherwise may have to cough out another $ 245 k SSD : new buyer not so lucky if suffer buyer remorse after staying in unit &.....
Thus need to take time to buy and not rush in even if looks cheap at $1.3 k psf .....Must see actual unit and inspect carefully a number of times....
Unless owner got developer to absorb stamp duty, he paid $ 41k stamp duty at time of option exercise ?
Newbie
Great, thanks. That's a good price.
On your question about "hard facts", I regard URA as providing a data point rather than the unvarnished truth. Leaving aside errors, there are any number of reasons why transactions filed on URA may not represent a real market price. There are cash out schemes to rip-off the CPF, overvaluations to rip-off banks, under-declaring to lower stamp duty, dishonest agents self dealing with uninformed buyers and so on.
When I see transactions at around market price, I've no problem accepting them as probably right. When the transaction is inexplicably lower than what a unit would fetch in a fire sale, I look for further data.
You seem like a very disciplined investor. In your opinion, do you think the market price is <$1400 for some units, or this in an outlier?
Newbie
Your prices are about right : similar stack #02-15 sold @ $ 1.29 k psf or $1.45 M : I did not know can get villa unit at such price from developer.
Villa units generally have better layout and bigger size for living......
Junior
at 1.45 mil assuming instalment at $6-7k, rental need to be above 8k just to earn 1k - 2k of positive cashflow.
worth the risk ? Heng you are right.
Exalted
installment prolly abt 5k wif dp 20% and rental realistically fetch 5k only....so goto top up other overheads wif cash
if dp 40% den shd be ok
nowadays only MM can haf positive cashflow....but nobody noe wat will happen when major mm supply come online
Junior
thanks for correcting. also, read the post by Heng that maintenance easily $500 for 2 bedder ...high overhead...think can wait and wait now.
getting a 3 bedder at 1 mil to 1.2 mil will still get you some + cashflow but not at 1.3 and above.
Newbie
A 3 bedder Reflections for 1 million...dream on. I can't even get a caribbean 2 bedder for 1 million now.
I am also waiting for The Sail 3 bedder to drop to 1 mil haha and hope once I bought, within 6 mths, the market bounce back, and I can sell it for 3 mil.
That's my wishful thinking haha.
Better to invest in stocks, STI has grown more than 20% within 3 months.
Newbie
... $1.437m or 1,362 psf for villa unit stack 55....exists in caveat listing....
8kenshin is correct in mentioning psf such as $1,285 psf etc and at such psf and quantum of about $1.4 m it is indeed a good buy for villa units.
Newbie
Those who rush in during 2007....and held till now ....?
Many units still available for rent / sale ...... at loss possibly
Another round of maintenance fee coming .... after paying maintenance fees since 5 December 2011, TOP date.
see attached from URA site
Junior
There are many 3 bedders from 1mil to 1.2mil like bartley res. No worries and no need to reflect at urself every mth need to top up from own market and subsidised tenant to stay
Junior
Hi Ah Heng,
Wow! $15xx psf I want!!
But are those Sentosa facing??
Newbie
I went to take a look at the 3 bedrooms villa in reflections last weekend, with 2 different facings - the yacht, w a star cruise and the golf view, which is nearer to the entrance, facing the golf net. I even requested to go back to the same units at night, to see their night views.
Sorry, im not to influence other ppl's choice here but just saying what i observe. The views are a big contrast. At night, it's total darkness for the golf view and I see HDB towers ... The golf during the day looks much nicer, occasionally with some water sparkling to hydrate the golf area. But once I think of the fact the golf view will be disappearing, I get worried. I also worried whether would there be long period of construction over the area, noise & etc.
I love the yacht view alot, it encompasses the sea and sentosa as the background. During the night, keppel bridge, sentosa and the gigantic star cruise were all lit up. IMO, it looks nicer than the day, I like it, my kind of dream home, but it's abit over my budget and the agent told me the owner is v firm on the price, has already paid off in cash (wah so rich) and no hurry to sell.... End up I didn't buy any of the 2 units. I suggest those who are serious in buying, you may want to see both day and night views, these are millions dollars units, no harm seeing more views before committing.
btw, the underground carparks there really give me headaches haha it's too big! But overall, i feel that it's a very nice project. If I have the money, I would want to get the yacht view villa. I mean if.
Newbie
btw, when i went in, I hardly see any residents....the carpark is empty...I am surprised that the project is already 900 plus unit sold out. I guess the owners (and residents here in this forum) are really damn rich, it feels more like a place for ppl to park their millions of dollars, than to stay inside haha, similar to sentosa cove.
Junior
What a beauty
Picture is worth a thousands words, courtesy of skyscrapercity
Singapore = $ingapore
What a beauty !
Newbie
Tne " empty " feel is likely due to many units are for SALE / RENT and thus there are so many advertisements in propertyguru, etc.....
After waiting for 5 years since 2007, another long wait .....
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