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Thread: nova 88 and 48

  1. #1
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    Default nova 88 and 48

    Any comments about this development along Balestier Road? Exact address is 8 Bhamo Road i think. I saw big crowds there and some units being snapped up at the preview this weekend.

  2. #2
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    avg how much psf ?

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    on the news just now, average 980psf...anyone can comment on this project...

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    Interesting... shouldn't these projects be classified under D11 status?

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    yeh hor....in http://www.singaporepropertymarket.com/singapore_district_map(09-11).htm#singapore_district_map

    shows Prome and Bhamo under D11....

    anyway it at a fringe of D11...

    how is yesterday sale anyone want to share?

  6. #6
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    Very very tempted with this project, especially Nova88. It's just behind the wellknown Boon Tong Kee chicken rice restaurant along Balestier Road. A month ago i took a walk from Novena MRT, it took me abt 10 mins walk which is quite ok and not tedious.

    Compared to I Residences nearby which is avg $1100psf++ and sitting just next to, I think Balestier Primary and Secondary? I like the location of Nova 88 better. Was quoted a month ago about $990++ psf for a 2 bedroom on level 9, since level 8, 5, is all taken. I forgot the size of the unit but remember that the price just under a million. Plus it's freehold. Now just deciding between the few projects i'm currently eyeing. Stress.......

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    What a bunch of idiots all that crowd.
    I saw an ad in the paper they offered $0 deposit till TOP. I thought in such a bad time it's still can be a good technique to sell and went to see . What I saw I could not believe my eyes !! overcrowded no space in the car park to park. Of course it is a massive rip off just to attract the buyers and there is no $0 deposit till TOP. they used it to attract the crowd. and $980 psf one has to be idiot to pay such price !! they jacked up the price so they can absorb an interest . And if you in your sound mind you can obviously see that even Ansley , Pavvilion 11 and other newly built luxury projects you can now buy for $800-900 psf where you can have rental income straight away. What the point of a scheme like this "Pay now and we screw you later" especially at the price above market. Rediculous to me .. or may be someone can explain me what driving all those stupid buyers who pay $980 psf for lousy project which has not even started ???

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    Quote Originally Posted by J-Dog
    What a bunch of idiots all that crowd.
    I saw an ad in the paper they offered $0 deposit till TOP. I thought in such a bad time it's still can be a good technique to sell and went to see . What I saw I could not believe my eyes !! overcrowded no space in the car park to park. Of course it is a massive rip off just to attract the buyers and there is no $0 deposit till TOP. they used it to attract the crowd. and $980 psf one has to be idiot to pay such price !! they jacked up the price so they can absorb an interest . And if you in your sound mind you can obviously see that even Ansley , Pavvilion 11 and other newly built luxury projects you can now buy for $800-900 psf where you can have rental income straight away. What the point of a scheme like this "Pay now and we screw you later" especially at the price above market. Rediculous to me .. or may be someone can explain me what driving all those stupid buyers who pay $980 psf for lousy project which has not even started ???
    LOL i do agree prices are dropping but 980 psf is still not attractive enough since for similar prices one can get the same deal on better developments and more prime areas. Still its more viewers than buyers, not many are willing to commit particularly for investment purpose

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    har $0 deposit? You sure or not? I spoke to the agent and you still must get a bank loan first, 20 percent first and 80 percent monthly payment after TOP? Time to go look see at showroom again.

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    There is no such thing as $0 deposit. No free meal lah.

    This is IAS (Interest Absorption Scheme). You pay the deposit and others within 8 weeks (typically 20%) and take up a bank loan. There is no further payment after that until TOP - absorb by developer.

    This is different from the Deferred Payment Scheme which was scrapped a few years back. For deferred payment, you don't need to take a bank loan.

  11. #11
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    Quote Originally Posted by PN
    ... For deferred payment, you don't need to take a bank loan.
    Correction. I mean you don't need to take bank loan before TOP with DPS.

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    I said, they advertised in Straight Times $0 deposit till TOP which was bullshit as they said still need to pay 20% deposit , I asked why your advertised that way and they said "we are sorry " -- This is very misleading, they should be sued for that , people come to waste their time in fact there was no $0 deposit .. Still I guess it is overpriced bullshit .. Just wait till September and see the prices will fall tremendously beyond someone's understanding.. I think there could be a possibilities that the goverment will temporary abolish a stamp Duty to fight with property market slump ... I am not talking the market down , I also have 3 Condos at high cost price , but this is a fact and reallity ,it will get extremely bad ...

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    Quote Originally Posted by J-Dog
    I said, they advertised in Straight Times $0 deposit till TOP which was bullshit as they said still need to pay 20% deposit , I asked why your advertised that way and they said "we are sorry " -- This is very misleading, they should be sued for that , people come to waste their time in fact there was no $0 deposit .. Still I guess it is overpriced bullshit .. Just wait till September and see the prices will fall tremendously beyond someone's understanding.. I think there could be a possibilities that the goverment will temporary abolish a stamp Duty to fight with property market slump ... I am not talking the market down , I also have 3 Condos at high cost price , but this is a fact and reallity ,it will get extremely bad ...
    lol... marketing scheme to con pple and make up numbers? no wonder pple many many buyers few few. In anycase, one should always buy within their means even if it is $0 payment.. since at this current point of time it is those who has holding power rules. I certainly wouldnt want to risk not able to sell even top is years away and could not offer the monthly payment when TOP

  14. #14
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    Quote Originally Posted by J-Dog
    I said, they advertised in Straight Times $0 deposit till TOP which was bullshit as they said still need to pay 20% deposit , I asked why your advertised that way and they said "we are sorry " -- This is very misleading, they should be sued for that , people come to waste their time in fact there was no $0 deposit .. Still I guess it is overpriced bullshit .. Just wait till September and see the prices will fall tremendously beyond someone's understanding.. I think there could be a possibilities that the goverment will temporary abolish a stamp Duty to fight with property market slump ... I am not talking the market down , I also have 3 Condos at high cost price , but this is a fact and reallity ,it will get extremely bad ...
    Icic. You're right if they advertise this way it is indeed misleading.

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    Pay D11 price for an almost D12 location.

    Lucky that novena dumbass is not around anymore or else he will vehemently insist it is Novena area as well

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    I dont think prices has came down.

    Checking back projects launched earlier in that area, such as the popular The Verve. Average price was around 900+psf anyway.

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    It was very crowded on the weekend, but some said it seems many to view but not to commit at this current market... and that's my personal sentiment too...

    I passedby Nova last weekend and felt quite a bit of traiffic on Balestier, is it worst during week day? just wonder..

    Anyone can share some good & bad points for properties on Balestier?

    "Greed" and "Fear" hmh???? time will tell.... :P

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    Is Balestier such a good location? I do not think so. Traffic is very very very bad there, and public transport is only bus and taxi. There is a reason why properties here were so cheap before the boom, from $300 psf to $500 psf. Even cheaper than those heartland towns 99 year condo prices back then.

    What you are paying now is still vastly inflated prices based on developer's marketing team efforts to manipulate buyers' emotions. Near Orchard, near Marina, near CBD, yes true but once you factor in traffic jam, it becomes so near and yet so far.

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    http://www.straitstimes.com/Money/St...ry_322419.html

    January 6, 2009 Tuesday

    Visitors throng Nova 88 showflat

    By Joyce Teo


    About 20 per cent of Nova 88's units were sold, with prices ranging from $900 to $990 per sq ft. -- PHOTO: WWW.ROXYPACIFIC.COM.SG

    PROPERTY hunters put aside the gloomy economic outlook last weekend and turned out in force to check out - and even buy - new flats.

    At Nova 88 in Balestier - likely to be the only new official launch so far this year - about 500 visitors thronged the showflat, said developer Roxy Homes.

    Some 20 per cent of the flats in the 88-unit development were sold at prices ranging from $900 to $990 per sq ft, it said.

    Potential buyers also flocked to re-launches, indicating that pockets of the market are still showing signs of life.

    The Nova 88 showflat numbers were similar to those pulled in during the firm's launches last year, but like most other developments, sales have slowed, with buyers and sellers sitting on the sidelines looking for clearer market signals.

    Roxy Homes launched Nova 88 last Saturday after holding special previews over two weekends last month.

    'We don't hold back launches as our properties are in the mid-range segment,' said Mr Teo Hong Lim, chief executive of listed Roxy-Pacific, the developer's parent.

    'If we advertise today and there are no visitors to our showflats, then the market is dead. But now, potential buyers are still going to showflats, so that is the positive part.'

    When the Asian financial crisis hit in 1997, showflats were empty, he added.

    Still, demand has taken a big hit since Lehman Brothers collapsed in September last year.

    'In the pre-Lehman collapse days, I would have launched Nova 88 at $1,250 psf,' said Mr Teo. 'Now, our style is to go for a reasonable price because we are serious in selling.'

    Nova 88 is on the former Aik Khiam Mansion site and a piece of state land, which together cost just under $350 psf of gross floor area.

    'The sales are encouraging,' said a property consultant of the Nova 88 sales.

    The consultant, who declined to be named, said developers are holding off launching projects as buyers are worried about their jobs or possible pay cuts and few are in the mood to buy.

    Some property hunters also headed for showflats of relaunches and recent launches such as The Ambra, The Lucent, Lucida and Newton Edge.

    Most launches will come only after Chinese New Year later this month. The 293-unit Alexis near Queenstown MRT station is one of them.

    While developer ECPrime has yet to finalise Alexis' prices, it has already tweaked the product given the weaker market sentiment.

    'We adjusted the mix recently such that a large number of the units will be smaller and thus more affordable,' said director Melvin Poh.

    At least 80 per cent of Alexis comprises small units, with one to two bedrooms, up from 60 per cent previously, he said.

  20. #20
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    novena north indeed.. they coined this term just to trick buyers into buying this district 12 balestier development at prices that's totally not in tune with the current property market. come on.. take the 900psf and 980psf somewhere else and get a better deal!

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    I agree , very overpriced .. Should be $600 psf at the most !!

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    Come on guys. This is a district 12 project. Please don't associate it with D11.

    I almost laugh to dead after read the flyer. "Workable to Novena MRT!"

    They die die want to claim it is near MRT.

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    Thumbs down Lousy

    At that price I rather go for Pavilion 11

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    Strictly speaking, like it or not... these projects are still D11

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    Quote Originally Posted by Geylang OKT
    Strictly speaking, like it or not... these projects are still D11
    Ugly big ball, what is your basic to claim it is D11 project?

  26. #26
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    just look at the area code then you know whether d11 or 12. for this part of the district, if starting with 30, then is d11. otherwise it is d12.

    does it matter anyway? you can bang on all day about how newton edge or mount sophia is d9 or mount sinai is d10 and prime district and shit, but I will still call a spade a spade and say that their locations are crap.

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    The developer for this project is a big sxxxxx.

    506sqft studio unit still come with Balcony & Planter. What i can say is good luck buyer!

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    Just came back from the showroom, 30%+ are sold, prices up by a bit from prelaunch and surprisingly most of the studio units are gone.

    I understand that across the road is the future foreign schools / education hub, behind is the medical hub. Drove around and saw many schools indeed. Maybe that's why the studio units are gone.

  29. #29
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    hmh! not sure which way the studio facing..if fit ace to main (balestier) road then for sure Fragrance (budget) hotel just right infront....

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    investment purpose? newton edge also first week only the studios snapped up

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