Varsity Park (D5, 99 years leasehold, CapitaLand)

[stalingrad]

varsity park is a large project. Some units are worse than others, like those along the clementi road and those along west coast road. Those surely suffer from noise and polluion. But the units in the middle facing the pool should be okay. except that the workmanship is so poor. some people even paid more thanf 800 psf in 2007 and 2008 to buy units on resale market. crazy.

we checked the condo out at its 2003 or 2004 launch, and did not buy. The reason is that it is so close to NUS, and we were afraid it would become a student hostel. Our prediction has been pretty much borne out. I could see a lot of renters are NUS students, many foreign.

Interestingly, the original launch price was 450 psf. DTZ probably thinks the recession will wipe out all the recent gain in valuation.

[PropertiesHunter]

varsity park is a large project. Some units are worse than others, like those along the clementi road and those along west coast road. Those surely suffer from noise and polluion. But the units in the middle facing the pool should be okay. except that the workmanship is so poor. some people even paid more thanf 800 psf in 2007 and 2008 to buy units on resale market. crazy.

we checked the condo out at its 2003 or 2004 launch, and did not buy. The reason is that it is so close to NUS, and we were afraid it would become a student hostel. Our prediction has been pretty much borne out. I could see a lot of renters are NUS students, many foreign.

Interestingly, the original launch price was 450 psf. DTZ probably thinks the recession will wipe out all the recent gain in valuation.

Another passenger, walk pass and comment. I been following his thread from Start of Pasir Panjang to West coast. Just now he say Maylea too small, now Varsity Park too BIG and will obtain noise and pollution.
Move on passenger .

[stalingrad]

When did I say that Varsity Park is too large? Large projects are good. Don't put words in my mouth. Large projects are better and in higher demand because these projects offer more room for kids to roam and to ride bikes on. Also, the maintenance fees are low.

When I talked about pollution and what not, I was commenting on the other guy's remark that banks will issue loans at $450psf to buyers of varsity park. What I said had nothing to do with whether VP is large or not.

I do think that maylea is a shitty project with no upside potential.

[darkromeo]

I think Stellars will be much better because of smaller projects and FREEHOLD. ANd the price just 50psf differences!

[stalingrad]

I think Stellars will be much better because of smaller projects and FREEHOLD. ANd the price just 50psf differences!

You are wrong. people like VP better because it is larger and more pleasant to live in. Imagine what you kids would do if you live in the stellar. Nothing, there is nothing for kids to do there except swimming. but young kids are not to be left alone in the pool. in this regard, VP is much better. That explains why the gap in pricing is so narrow.

[teresa]

Now that is interesting. Why? the bank being conservative? or perhaps the bank knows something we don't know.

or just because this is a shitty condo with poor workmanship and design. yes, i notice that the railings on the balcony are made of wrought iron, and make each unit look like a monkey cage. the linear design, with units lined up perfectly, also make the condo looks like low cost public housing.

but surely the bank should be able to lend at more than 500 psf.

Stalingrad, If I were you, I would stop all the malicious bashing as what you write above may have legal implication for spreading lies and untrue information.

[stalingrad]

Stalingrad, If I were you, I would stop all the malicious bashing as what you write above may have legal implication for spreading lies and untrue information.

what lies? what untrue information? Aren't the balcony railings made of wroght iron that seemed to be rusty even before TOP? Aren't the layout of the apartment blocks entirely linear? isn't the workmanship so shitty that some owners complained about puddles after a rain on the trail and water seeping though the ceiling?

What legal implications? If what I said is true, why should I be sued?

[PropertiesHunter]

what lies? what untrue information? Aren't the balcony railings made of wroght iron that seemed to be rusty even before TOP? Aren't the layout of the apartment blocks entirely linear? isn't the workmanship so shitty that some owners complained about puddles after a rain on the trail and water seeping though the ceiling?

What legal implications? If what I said is true, why should I be sued?

Why you are a liar, look at at psf price between Maylea and VP latest trans price U know why. You think buyer are a fool like u. Location make the count today.

[proud owner]

Why you are a liar, look at at psf price between Maylea and VP latest trans price U know why. You think buyer are a fool like u. Location make the count today.

to make a fair statement ..

i think a great amount sporean are still cash rich ...
those who needs a place .. can afford... really dont mind buying now .. SO LONG AS THEY ARE NOT BUYING AT 2008 PRICE ..

problem now is that banks (valuer) are not giving a 'fair' valuations, to safeguard themselves, as they have no knowledge of the buyer's financial background .

i heard from a friend in a local bank that they slash 20 pct of the 'real' valuation upon any enquiry ..

and if buyers still come back ..with credentials ...then they can make adjustment ..closer to real value ..and awards closer to 80 pct loans, depending of their ability to service the loan...

i think if you just call up any local bank now and give your own address (maylea or VP)..without providing any info on your financial stauts .. you will be surprised at their valuations ... probably way off last transactions ..

[teresa]

what lies? what untrue information? Aren't the balcony railings made of wroght iron that seemed to be rusty even before TOP? Aren't the layout of the apartment blocks entirely linear? isn't the workmanship so shitty that some owners complained about puddles after a rain on the trail and water seeping though the ceiling?

What legal implications? If what I said is true, why should I be sued?

stalingrad, u need not defend yourself for what you have dish out from all your comments in this forum. Do not think you can hide behind your PC without being caught, u will be very sorry for that. If you still continue to make "deliberate misinformation" on all other properties except Carabelle, u will be brought to court soon. I am sure you are wise enough not to cross that "boundary".

[stalingrad]

stalingrad, u need not defend yourself for what you have dish out from all your comments in this forum. Do not think you can hide behind your PC without being caught, u will be very sorry for that. If you still continue to make "deliberate misinformation" on all other properties except Carabelle, u will be brought to court soon. I am sure you are wise enough not to cross that "boundary".

You still have not told me what I said that was untrue. If what I said about each condo is true, why should I be sued. tell me. don't use scare tactic, just give me an example of deliberate misinformation that I gave. One, just one. One would be enough.

if you cannot give even one example, then back off, sis.

[teresa]

You still have not told me what I said that was untrue. If what I said about each condo is true, why should I be sued. tell me. don't use scare tactic, just give me an example of deliberate misinformation that I gave. One, just one. One would be enough.

if you cannot give even one example, then back off, sis.

I am surprised you still have the guts to challenge me. BTW, I have got my Lawyer friend to vet through all your 69 posts in this forum and this is what he have got to say to you, "YOU ARE IN DEEP TROUBLE". Either the developers or any of the owners can land you in court for "Deliberate Misinformation". U deliberately and systematically crafted your replies to talk only good things about Carabelle and used "malicious" wordings in all your bad posts with the intent to bring down the rest of the projects that does not concern you.

Anyway, I rest my case and not waste my time on you. Take care.

[stalingrad]

I am surprised you still have the guts to challenge me. BTW, I have got my Lawyer friend to vet through all your 69 posts in this forum and this is what he have got to say to you, "YOU ARE IN DEEP TROUBLE". Either the developers or any of the owners can land you in court for "Deliberate Misinformation". U deliberately and systematically crafted your replies to talk only good things about Carabelle and used "malicious" wordings in all your bad posts with the intent to bring down the rest of the projects that does not concern you.

Anyway, I rest my case and not waste my time on you. Take care.

yeah, I am scared. I am shitting in my pants.

by the way, I am still waiting for you to show anything that I have said that is untrue.

[teresa]

yeah, I am scared. I am shitting in my pants.

by the way, I am still waiting for you to show anything that I have said that is untrue.

The timing of your reply shows that you are very very afraid, waiting patiently for my reply. I've got you. Take care cos u need it much.

[stalingrad]

The timing of your reply shows that you are very very afraid, waiting patiently for my reply. I've got you. Take care cos u need it much.

No, I am waiting patiently because I know you have a leaky ceiling and you couldn't reply to my post immediately. I waited also because I knew there are monkeys on your balcony thinking they have found a new home, given the wrought iron railings. haha, nice talking to you sis.

[proud owner]

I am surprised you still have the guts to challenge me. BTW, I have got my Lawyer friend to vet through all your 69 posts in this forum and this is what he have got to say to you, "YOU ARE IN DEEP TROUBLE". Either the developers or any of the owners can land you in court for "Deliberate Misinformation". U deliberately and systematically crafted your replies to talk only good things about Carabelle and used "malicious" wordings in all your bad posts with the intent to bring down the rest of the projects that does not concern you.

Anyway, I rest my case and not waste my time on you. Take care.

seriously teresa ... i am no friend of stallingrad .. but i really see nothing really wrong with what he /she has said ...

it does look like wrought iron .. ... i also think the roof looks abit weathered ..the color makes it appear so ...

perhaps soemone from VP ... if geniunely has leaking roof ...pls voice out ... is there any ??

or anyone else who has friends living there that can verify ?

[stalingrad]

seriously teresa ... i am no friend of stallingrad .. but i really see nothing really wrong with what he /she has said ...

it does look like wrought iron .. ... i also think the roof looks abit weathered ..the color makes it appear so ...

perhaps soemone from VP ... if geniunely has leaking roof ...pls voice out ... is there any ??

or anyone else who has friends living there that can verify ?

I am no friend of proud owner. But there is an article in Straitstimes about an owner complaining about the shoddy workmanship in VP. I forget what she was complaining about. Either the roof or ceiling. another forummer who lived there used the work "shocked" to describe how he felt after moving in.

But as I said elsewhere, VP do have pluses, one of which is large open space for kids to ride bikes on or play hide and seek. We did not buy because was likely to become a student hostel, and we were right about that. there are tons of NUS students livining there now.

[shichida9332]

teresa, wat's wrong with u, cant anybody in the forum comments abt VP?

Add me in if you sending any lawyer letter to anybody

[pweesng]

I am surprised you still have the guts to challenge me. BTW, I have got my Lawyer friend to vet through all your 69 posts in this forum and this is what he have got to say to you, "YOU ARE IN DEEP TROUBLE". Either the developers or any of the owners can land you in court for "Deliberate Misinformation". U deliberately and systematically crafted your replies to talk only good things about Carabelle and used "malicious" wordings in all your bad posts with the intent to bring down the rest of the projects that does not concern you.

Anyway, I rest my case and not waste my time on you. Take care.

hee hee... Teresa, what you did was kinda childish leh..

It sounds like some of the engagement i have been reading at Sammyboy forum. "Oh! you better becareful, my dad is a policemant, and i will send him to catch you!"

I think the beauty of a forum on internet is anyone should be allowed to say what they want. If you are buying a unit in VP, and you are put off just because of what he says, then i rest my case.

Anyway, i have a unit at VP. The balcony is indeed iron wought. Not that i got anything against it. But what he say is perfectly true.

I did experience some workmenship problem, but they were nothing that i haven't experience in other properties.

I don't have a leaking roof. But it doesn't mean that others don't

the only thing that i have experience so far that is new to me was, one day, the tenant complained that there were squeaking sound from the aircon.... when i sent the repairman to check it out... it turns out a bat was stuck in there....

please don't sue me...

[apple3]

I am surprised you still have the guts to challenge me. BTW, I have got my Lawyer friend to vet through all your 69 posts in this forum and this is what he have got to say to you, "YOU ARE IN DEEP TROUBLE". Either the developers or any of the owners can land you in court for "Deliberate Misinformation". U deliberately and systematically crafted your replies to talk only good things about Carabelle and used "malicious" wordings in all your bad posts with the intent to bring down the rest of the projects that does not concern you.

Anyway, I rest my case and not waste my time on you. Take care.

Hahahha... What kind of postings is this? Can't swallow, can't rebuke, so resort to legal threat? And you bother to count 69 posts with a lawyer that is free enough to scrutinise all of them? Are you sure?

Well, I guess a lot of us here would love to see just an example of how stalingrad's postings could have quantify your accusation of "Delibrate Misinformation".

Why rest the case? Bring it on!

[Regulators]

I think someone could either be having PMS or going through menopause...

Hahahha... What kind of postings is this? Can't swallow, can't rebuke, so resort to legal threat? And you bother to count 69 posts with a lawyer that is free enough to scrutinise all of them? Are you sure?

Well, I guess a lot of us here would love to see just an example of how stalingrad's postings could have quantify your accusation of "Delibrate Misinformation".

Why rest the case? Bring it on!

[chanys]

I have read all 21 pages of this thread in one sitting, and I've got one basic question: VP prices has increased 50% from April-09 till Jun-10. Why?

From the posts in this thread, I understand this project was sold out when launched, at about 450psf. Prices then doubled to 800++psf. So obviously there's very strong interest in this project.

I'm wondering whether the primary reason for the huge capital appreciation is because:
1. It's near to NUS so a lot of people buy for investment because it's easy to rent out? And in view of this, other aspects such as not-so-ideal workmanship, etc. are glossed over?
2. Another reason is because there's about 400++ units so a lot of resale activity thus helping capital appreciation?

The transactions are almost all more than $1million. So the reason of low quantum thus more transactions is also not true.

Thanks, I'm just trying to learn.

[proud owner]

I have read all 21 pages of this thread in one sitting, and I've got one basic question: VP prices has increased 50% from April-09 till Jun-10. Why?

From the posts in this thread, I understand this project was sold out when launched, at about 450psf. Prices then doubled to 800++psf. So obviously there's very strong interest in this project.

I'm wondering whether the primary reason for the huge capital appreciation is because:
1. It's near to NUS so a lot of people buy for investment because it's easy to rent out? And in view of this, other aspects such as not-so-ideal workmanship, etc. are glossed over?
2. Another reason is because there's about 400++ units so a lot of resale activity thus helping capital appreciation?

The transactions are almost all more than $1million. So the reason of low quantum thus more transactions is also not true.

Thanks, I'm just trying to learn.

its the first NEW project in that area ... launched at the low ..

subsequently when mkt picked up ..and more new projects around there .. its price also went up ..

then came all the enbloc in 06-07 ..resulted in a 'shortage' ..
and VP TOP at the perfect timing ..

it does have nice landscaping etc .. and big land ..

despite being 99 LH ..it is trading almost on par to its neighbour The Stellar .. which was awarded for its design .. Stellar is a much smaller project.. so i would say fewer transactions

as for rental .. it did command good yield as it TOP at the very best timing.

right now i am not sure whats the rental like .. but with so many projects there alreasdy TOP .. it shud be pretty even ...

[jlrx]

I have read all 21 pages of this thread in one sitting, and I've got one basic question: VP prices has increased 50% from April-09 till Jun-10. Why?

The reason is PROPERTISM.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

While VP has increased by 50% from April 2009 to June 2010, Goodrich Park has increased by 120% from April 2009 to June 2010.

PROPERTISM Rule No. 2 - Land is more valuable than air.

http://forums.condosingapore.com/sho...10&postcount=4

[chanys]

Thanks proud_owner; putting VP in the historical contexts of 06-07 years and it being launched before other nearby condos definitely helps. I noticed that you had a unit at Stellar, why did you decide to sell it? You've also mentioned that it's alright for one's first investment property to be 99LH, but thereafter, it should preferably be FH. Why is it ok for first investment to be 99LH? Hope to learn, many thanks.

The current psf of VP and Stellar are comparable, though the April-09 price of VP is much lower than Stellar. Thus, VP had risen by 50%, while Stellar had "only" risen by 25%. I'm trying to guess that a possible reason is simply because VP was launched at a much lower price than Stellar, and Stellar owners simply refused to sell below what they had paid for it. Also, after going through the thread on Stellar, I guess possible reasons that limit the psf of Stellar includes: located at busy junction, smaller area thus lesser facilities, and units very close to one another.

I guess my aim here is to understand what makes for capital appreciation and I think VP and Stellar are two interesting examples to look at, since they are very close to each other.

Cheers!

[kumkeet]

Take a walk into VP and Stellar and straight away you'll understand why one is more popular than the other.
IMO VP is one of the nicest properties in that stretch. (And I am not a unit owner).