Reflections at Keppel Bay (D4, 99 Years, Keppel Land)

[East Coast Boy]

Wonder if Reflections face the same fate of big losses ? as I see more and more units put up for sale / rental and the months go by ...
Buying at Developer psf still risks BIG LOSS..despite after holding so many years after TOP...999 year St Regis Residences ....launched at about same time as Reflections....

Originally Posted by blackjack21trader
It is not 4M loss BUT 5M loss. Actually i dun wan to share one, but see some of you guys so pathethic,......

2,782 psf
-2,111 psf
------------
671 psf
------------
A few CCR transactions sold at a loss (reported in The Edge)

"It is very dangerous to buy property without knowing how to calculate the hidden costs." Famous Words by BJ21T
__________________
http://invest.justtrade.us

Actually i dun wan to share this also, but see some of you guys might miss this info...

The bungalow at Sentosa Cove (pictured) sold for a record S$39 million was once owned by Deepak Sharma, Chairman at Citi Private Bank and his wife Susan Lim, a well-known surgeon, reported The Business Times.

The sea-fronting property achieved the highest selling price ever for a bungalow on Sentosa Cove, exceeding the previous high of S$36 million set in 2010.

Sharma, a veteran banker, and also co-Chairman at the Private Banking Industry Group (PBIG), bought the property and negotiated for its eventual sale, according to a source. Prior to becoming a Singapore citizen, he was an Indian national. He married Dr. Lim in 2000.

Dr. Lim is believed to be the first surgeon in Singapore to perform a liver transplant. She also made news last year when she attempted to block an inquiry by the Singapore Medical Council. The case went all the way to the Court of Appeal but was dismissed.

Meanwhile, the buyer was revealed to be Shael Oswal, an Indian citizen involved in the mining business.

The S$39 million price tag for the 99-year leasehold property works out to S$2,448 psf for a land area of 15,929 sq ft, and features a spacious living area, five bedrooms and an entertainment room.

[Heng]

So mnay listings for SALE / RENT : $ 5,000 rental lost each month ? Hardly any sale closed despite reasonable asking prices ?

The bungalow at Sentosa Cove (pictured) sold for a record S$39 million was once owned by Deepak Sharma, Chairman at Citi Private Bank and his wife Susan Lim, a well-known surgeon, reported The Business Times.

Sharma, a veteran banker, and also co-Chairman at the Private Banking Industry Group (PBIG), bought the property and negotiated for its eventual sale, according to a source. Prior to becoming a Singapore citizen, he was an Indian national. He married Dr. Lim in 2000.

Meanwhile, the buyer was revealed to be Shael Oswal, an Indian citizen involved in the mining business.

The S$39 million price tag for the 99-year leasehold property works out to S$2,448 psf for a land area of 15,929 sq ft, and features a spacious living area, five bedrooms and an entertainment room.

Unless very well-connected ....not many of the typical Reflections 2 bedders can negotiate for good price.......if empty for another 3 months will have to forgo another $15,000 rental income....If sell, so many listings asking for reasonable price and yet still no sale done.

[DaytonaSS]

So mnay listings for SALE / RENT : $ 5,000 rental lost each month ? Hardly any sale closed despite reasonable asking prices ?



Unless very well-connected ....not many of the typical Reflections 2 bedders can negotiate for good price.......if empty for another 3 months will have to forgo another $15,000 rental income....If sell, so many listings asking for reasonable price and yet still no sale done.

mr heng, can i ask how u know no sales done? URA website?

[Heng]

Propertyguru now has 4,181 listings for Reflections. With the increase in listings, is it reasonable to expect more sales / rental ?

What could be the reason why Reflections not moving ?

According to agents, rental market is ok but .....

[DaytonaSS]

Propertyguru now has 4,181 listings for Reflections. With the increase in listings, is it reasonable to expect more sales / rental ?

What could be the reason why Reflections not moving ?

According to agents, rental market is ok but .....

my assumptions are these

1) average singaporean would not be able to afford a $2.5-$3m price tag.

2) Additional Buyers stamp duties discourage foreigners to pick up properties now

3) As confirmed by new launches and data realeased, upgraders are mostly buying 800-1m and ard $1.5m properties. The 40% down payment have also killed buyers with deeper pockets for $2m and abov properties.

4) everyone hoping for a crash and firesale. Miss match between buyer and seller expectations.

5) NO FAMOUS PRIMARY SCHOOL or higher education in the area.


However i must say this is one of my top 3 development to live in if i dont have to worry about kid's primary school enrollment. Can afford a $3m villa unit plus a $1m yatch would be the ideal lifestyle.

[Rysk]

Propertyguru now has 4,181 listings for Reflections. With the increase in listings, is it reasonable to expect more sales / rental ?

What could be the reason why Reflections not moving ?

According to agents, rental market is ok but .....

Hi Ah Heng,

Just an example, this morning I saw 1,317 listings for sale:

1. How many are repeated ads? Like 5 agents advertising for one units.. 1 agent post 5 ads, etc.. so all together make up of 1,317 listings?

2. Lets say finally the actual units for sale is 300, out of 300, how many are serious sellers?

3. Lets say 100 serious sellers, how many are asking at reasonable price? 30??

Lets say only lah!!

[singaporecondo99]

my assumptions are these

5) NO FAMOUS PRIMARY SCHOOL or higher education in the area.

Ok lah, considered not bad, it is central to both NUS and SMU, not very far away from both. As long don't go NTU haha

As for primary schools, I think the parents staying there are rich enough to fetch their kids to primary school by benz haha... no need school to be nearby. Anyway, it's also abit strange to have a skyscraper besides a primary school hehe, it's more for mass market condos and HDBs bah.

If govt decide to release that huge plot of land below mount faber, now under use as bus coach carpark and seah im hawker to private developers to do something commercial, seriously i think this area will huat even more.

[Heng]

Hmm...Is it for real ?!

I didn't see #14-76 872 sqf in URA txn. I know it's a Tower 1A unit, with living room facing sentosa/sea direction.

2050psf is a good deal because the 775 sq ft 1+study is already fetching 2300-2400 in yr 2011.

Have confirmed that $2,050 psf for Sea /Sentosa view #14-72 was transacted towards end February 2012.

Agents were asking $2,400 psf for this unit .... Most of the asking prices are dropping....Agents mentioned to wait another 3-6 months for more falls in prices ....take a look from the sky bridges and can see many units without furniture, etc.......

[hyenergix]

Looks like investors' big CCR units are going for a battlestar galactica ride.

[singaporecondo99]

Have confirmed that $2,050 psf for Sea /Sentosa view #14-72 was transacted towards end February 2012.

Agents were asking $2,400 psf for this unit .... Most of the asking prices are dropping....Agents mentioned to wait another 3-6 months for more falls in prices ....take a look from the sky bridges and can see many units without furniture, etc.......

Haha bro, #14-72 is Tower 1B facing keppel club and laborador park trees, can't even smell the yacht.

It is a 3 bedroom like 1500 sft, so making it more than 3 million bucks.
The buyer really rich sia.

Can see your intentions clearly, no wonder the other bros here asking your intentions in this forum haha. Interesting fellow, reminded me of Mr B in other thread.

[Heng]

Haha bro, #14-72 is Tower 1B facing keppel club and laborador park trees, can't even smell the yacht.

It is a 3 bedroom like 1500 sft, so making it more than 3 million bucks.
The buyer really rich sia.

Can see your intentions clearly, no wonder the other bros here asking your intentions in this forum haha. Interesting fellow, reminded me of Mr B in other thread.

Truth is stranger than fiction ?? My typo error : it is #14-76 of tower 25, the $1.78 m unit transacted in Feb 2012 as mentioned by East Boy.

It is also marked as " error..." by HP65.

Realisty is difficult to accept ???

[devilplate]

doesnt matter.....can find gd deal now anot? 2xth flr facing sentosa how much asking now? i aiming 1500psf....wakakaka

[Heng]

FYI

<ADV>Reflections trx update:
Rent Blk 29 #18-86 990sqft 2BR $5.6k*
Rent Blk 5 #02-17 1,711sqft 3BR $9k
Sale Blk 25 #10-79 1,313sqft 3BR $1,523psf
Sale Blk 25 #14-76 872sqft 1BR+S $2,050psf
Javier & Alison/ERA

The above is correct : although not in URA data as publicly available.

$2,050 psf for Sentosa / Seaview is too good to be true ?

especially as many have bought during launch in 2007 at very much higher psf for Sentosa / Sea view.

More than $ 400 psf drop for sea view unit in 2012

[devilplate]

2k psf still damn high....14th flr somemore.....so low flr and no. 14!!! 1500psf shd be the correct px....wakakaka

1500psf den we tok la

[Heng]

2k psf still damn high....14th flr somemore.....so low flr and no. 14!!! 1500psf shd be the correct px....wakakaka

1500psf den we tok la

I am in no position to predict if it will drop to $1,500 psf for sea view / sentosa view.

So far I stick to facts as available on public sites or on various agencies databases : I usually request for evidence that are verifiable.

That is why it took me so long before I know that East Coast boy $2,050 psf for Sentosa / seaview is correct.

I also find it difficult to believe sea view $2,050 psf because in 2011 many agents asking another $400 psf more for seaview / Sentosa view.

Now such transactions exist : $1.4 m for golf view and $1.8 m for sea view / sentosa view.

Just like in stock market, if Euro crisis takes a worse turn , your $1,500 psf for sea view at higher than 14th floor may materialise.

[eng81157]

Have confirmed that $2,050 psf for Sea /Sentosa view #14-72 was transacted towards end February 2012.

Agents were asking $2,400 psf for this unit .... Most of the asking prices are dropping....Agents mentioned to wait another 3-6 months for more falls in prices ....take a look from the sky bridges and can see many units without furniture, etc.......

price drop but does it mean that seller made a loss or just profited less?

[Heng]

price drop but does it mean that seller made a loss or just profited less?

Less than $3 m or $1.9k psf for sea view unit on 2oth floor ?

See attached and appreciate your comments ?
I have not been to unit but looks like seaview unit on 20th floor.

[Heng]

2k psf still damn high....14th flr somemore.....so low flr and no. 14!!! 1500psf shd be the correct px....wakakaka

1500psf den we tok la

Looks like very nice layout and facing the sea ?

Floor plan attached for easy reference

Appreciate your comments on this stack and the pricing , etc

[august]

2k psf still damn high....14th flr somemore.....so low flr and no. 14!!! 1500psf shd be the correct px....wakakaka

1500psf den we tok la

some people dun like the number 14 mah...

[8kenshin]

Looks like very nice layout and facing the sea ?

Floor plan attached for easy reference

Appreciate your comments on this stack and the pricing , etc

I've seen one of these two bedders, a very nice regular layout. Pricing looks good, but note that the development faces directly at the Caribbean not the sea. That facing is inclined about 45 degrees away from a direct facing of the Marina.

A little snippet since this is a hot thread...see the highlighted paragraph towards the end.



Keppel Land
Kim Eng on 7 Mar 2012

More catching up to do. Keppel Land has been an outperformer year-to-date, but over a longer one-year period, it is still down by 20.7%, trailing behind its big-cap peers CapitaLand and City Developments Limited (-12.5% and -3.1%, respectively). We believe that KepLand has repositioned itself to tide through any near-term uncertainties and reaffirm our Buy recommendation on this relative laggard.

Beijing project a bigger deal than initially thought. In January, KepLand said that it had acquired a 51% stake in a prime commercial project in Beijing’s Chaoyang CBD, with an estimated breakeven of RMB20,000 psm GFA. After reviewing our earlier forecasts, we raise our capital value assumption for the office component to RMB50,000 psm, which suggests a RNAV accretion of 8 cents per share from the project instead of the original estimate of 4 cents per share.

Biding its time in Sengkang. KepLand has withheld the launch of the remaining 322 units at The Luxurie in Sengkang. We reckon that management could be waiting for the adjoining site to be made available on the Confirmed List in April and make a bid for it. If successful, KepLand can dictate the near-term supply and pricing in the vicinity. If not, then the winning bid is likely to result in a project with a higher breakeven than that of The Luxurie, mitigating its own risks.

Keeping the good stuff. Despite the slow turnover in the high-end residential market, KepLand has no intention of reducing asking prices just to move inventory. A prime example is Reflections at Keppel Bay, which received its Temporary Occupation Permit at the end of last year. KepLand has decided to retain about 130 of the 290 unsold units for corporate residences with a view to selling them only when the market picks up, just as it had done for 168 units at the Caribbean previously.

Laggard backed by bumper dividend. We have raised our target price to $4.00, pegged at a narrower 30% discount to RNAV due to KepLand’s better-than-ever balance sheet. The group has proposed a bumper dividend of 20 cents per share, subject to approval at the AGM scheduled for 20 April. Buy now, for a potential total return of 27%.

[singaporecondo99]

1500 psf sea or yacht view, i also want haha, if like that, the golf units would crash already haha

Actually, even the unit is sold at 2050 psf, the owner still make losses if you factor in stamp duties of 3%, agent fees of 2% and some michellaneous. The original owner shd be buying around $2k psf direct from developers in 2009.

I would say it's a good buy for #14-72, even though only the living room is facing sentosa and 2 beds are facing golf. Still, I think it's a good investment if you can buy around the original developers price plus/minus 100 to 200 psf, by the time the economy rebounce, high end luxury condo are always the first ones to shoot up high.

Don't follow the herd to buy mass-market OCR at 1300-1500 psf now haha, too expensive already. Thinking about it, the mass market condo I staying now, I only bought < 500psf 10 yrs ago haha

[singaporecondo99]

Keeping the good stuff. Despite the slow turnover in the high-end residential market, KepLand has no intention of reducing asking prices just to move inventory. A prime example is Reflections at Keppel Bay, which received its Temporary Occupation Permit at the end of last year. KepLand has decided to retain about 130 of the 290 unsold units for corporate residences with a view to selling them only when the market picks up, just as it had done for 168 units at the Caribbean previously.

Good move, i heard FEO has also done the same thing to some of their RCR and CCR properties.

[august]

Good move, i heard FEO has also done the same thing to some of their RCR and CCR properties.

Standard practice for FEO. In fact if FEO does not hold back units for a particular project, then i start to worry for the project. Hahaha

[Heng]

doesnt matter.....can find gd deal now anot? 2xth flr facing sentosa how much asking now? i aiming 1500psf....wakakaka

May I know which stacks are you looking for ?

[Heng]

1500 psf sea or yacht view, i also want haha, if like that, the golf units would crash already haha

The original owner shd be buying around $2k psf direct from developers in 2009.

I would say it's a good buy for #14-72, even though only the living room is facing sentosa and 2 beds are facing golf.

Thinking about it, the mass market condo I staying now, I only bought < 500psf 10 yrs ago haha

Which stacks meet your criteria of seaview ?

From layout plan it looks like if ....looking over low Carribean ... and then further ..is the sea... especially from high floor ?

Stack 96 at 20th floor met your definition of seaview ?

[Blue]

Any 2 bedder going at $1.4M? Dun care if it's low floor. Buying for investmt.

[DC33_2008]

How about this?





Pay 25% of the $psf here and still get yacht, seaview and FH too.

1500 psf sea or yacht view, i also want haha, if like that, the golf units would crash already haha

Actually, even the unit is sold at 2050 psf, the owner still make losses if you factor in stamp duties of 3%, agent fees of 2% and some michellaneous. The original owner shd be buying around $2k psf direct from developers in 2009.

I would say it's a good buy for #14-72, even though only the living room is facing sentosa and 2 beds are facing golf. Still, I think it's a good investment if you can buy around the original developers price plus/minus 100 to 200 psf, by the time the economy rebounce, high end luxury condo are always the first ones to shoot up high.

Don't follow the herd to buy mass-market OCR at 1300-1500 psf now haha, too expensive already. Thinking about it, the mass market condo I staying now, I only bought < 500psf 10 yrs ago haha

[singaporecondo99]

wow very nice, where is this ? A new project in town ?

[kane]

Sounds like our neighbouring city.

[dtrax]

familiar leh... the render. penang development?