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Thread: East Coast Price Watch

  1. #1
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    Default East Coast Price Watch

    Starting this thread for tracking purposes. This is based on newspaper prices, propguru and other online sources for the areas i'm interested in. Comments & contributions are of course welcome. Please add on any updates you might have:


    15/1

    Apt Status:
    2006 Telok Kurau : $480psf
    Beacon Edge Tembeling: $780psf
    Vitra Tembeling: $620psf

    Semi Condo:
    Poshgrove: $615psf
    Grand Duchess: $795psf
    Terra Vue: $735psf
    Ola Residences: $960psf (just because Lian Beng paid Bravo $42m for land)

    Condos:
    One Amber/Esta: $800psf
    The Sea View: $1080psf
    Last edited by gfoo; 15-01-09 at 11:08.

  2. #2
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    Hi gfoo,

    We share a common goal which is buying property in the Amber area. I have been viewing some 4 bdrm apts at Esta and Seaview. All owners still asking for 900+psf for Esta and 1100+psf for Seaview.

    According to the agents the buyers all have holding power, which i guess could be partly true since the properties have TOP and their DPS loans would have kicked in. So I will continue to sound out the sellers with my super low offers (700-750 psf) and hopefully hit the jackpot.

  3. #3
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    You joker gfoo........anyway yahoo was also born like this !!!!!!!!!!!!!


    yahooooooooooooooooooooooooooooooooooo!!!!!
    gfooooooooooooooooooooooooooooooooooooo!!!!

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    Quote Originally Posted by Sean.G
    Hi gfoo,

    We share a common goal which is buying property in the Amber area. I have been viewing some 4 bdrm apts at Esta and Seaview. All owners still asking for 900+psf for Esta and 1100+psf for Seaview.

    According to the agents the buyers all have holding power, which i guess could be partly true since the properties have TOP and their DPS loans would have kicked in. So I will continue to sound out the sellers with my super low offers (700-750 psf) and hopefully hit the jackpot.
    your offer of $700-750psf may not be low enuf.... a drop of only 36%. not realistic. i see a correction to $550psf as there's pressure on prices from units within the CBD area. prices for D9, 10 and D11 new launches are coming down...those have seen correction to more than 40%. Check with valuer.

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    yah lor - woohoooooooooooo!

    wait 3 months, and let's see who has the last laugh.

    the only thing that can stop this decline is mass inflation or superinflation.

    heaven forbid hyperinflation, then no one wins

    but all that fiat being pumped into the system will take its time to work itself into main street, until then, i think deflation still rules the day for the next couple of years

  6. #6
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    Quote Originally Posted by gfoo
    yah lor - woohoooooooooooo!

    wait 3 months, and let's see who has the last laugh.

    the only thing that can stop this decline is mass inflation or superinflation.

    heaven forbid hyperinflation, then no one wins

    but all that fiat being pumped into the system will take its time to work itself into main street, until then, i think deflation still rules the day for the next couple of years
    From URA one unit 1,561 sqft done at $737psf in Dec 2008. Hence my view that this will go further down due to D9-11 price pressure will probably happen after CNY.

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    Citibank's Price Estimates
    16 Jan 2009

    Last transacted in 4Q2008 (preliminary)
    Tierra Vue $771
    Grand Duchess $661
    One Amber $852
    Makena $1000
    Costa Rhu $899
    Mandarin Gardens $655
    Bayshore Park $797

    "Similarly for the mid-tier segment, where prices have already fallen some 20% from their peaks a year ago, we think prices are likely to reach 1998 levels rather than the 2003 levels in the absence of an overall housing oversupply. This would imply a further price decline of around 35% from current levels or approximately 45% from their peaks"

    Which means according to Citibank, fair value will be:

    (actuals)
    Ardmore $1248
    Makena $700
    Costa Rhu: $507
    Mandarin Gardens $384
    Bayshore Park $428

    (35%)
    Tierra Vue $501
    Grand Duchess $429
    One Amber $554

    Comments anyone?

    For Tierra Vue and Grand Duchess i have to agree they might reach that point sooner than later, as prices just 1 or 2 lorongs away are already at that level.

    How about One Amber?

    My biggest worry is that if banks start valuing loans based on these citibank/ubs reports, even if you take 15% above projected, that will price One Amber at $630. That means down the road loans might have probs

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    Not totally related, but why does Citi classify Esta as mass market, but One Amber as mid-segment?

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    that is because Citi bankers and anal-lysts are bunch of idiots, would you listen to someone who cannot even keep their own act together....

    Fair price for condos in the east with decent views and layouts should hold their price, as for the rest god bless those who bought them anyway, because no one wants them....

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    well, if citibank is right, they wont be in such a deepshit now. Still got ppl believe in such bank?? hahahahaha

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    Quote Originally Posted by kal
    well, if citibank is right, they wont be in such a deepshit now. Still got ppl believe in such bank?? hahahahaha
    Condoinvestor, Kal,

    If you do not even know the difference between an analyst working in Singapore and the people who brought Citigroup to its knees, I will be blunt and ask you to stop acting stupid.

    Are you vested and hoping to dump your overpriced condo? If you are, I think you better stop laughing at Citi but take a good look at your own financials. In the end, the joke could be on you.

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    Quote Originally Posted by HP65
    Condoinvestor, Kal,

    If you do not even know the difference between an analyst working in Singapore and the people who brought Citigroup to its knees, I will be blunt and ask you to stop acting stupid.

    Are you vested and hoping to dump your overpriced condo? If you are, I think you better stop laughing at Citi but take a good look at your own financials. In the end, the joke could be on you.
    I agree with HP65 on both condoinvestor's and Kal's vested interest....i doubt they know what brought down the financial sector and what caused the property prices to tumble during the Asian crisis and SARS. Were people then bothered about the better views in east coast? basic economics of demand and supply.

    This is fresh news - Sail 2-bedder unit is being negotiated for rent at $2,800. A month ago, one rented a 2 bedder above 20th floor for $3,800.

    Middle east hotels' rates are discounted more than 80%. this used to be a demand driven market. and please read about the news of thousands of cars abandoned with keys at the airport.



    wishful thinking versus accepting the reality.

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    and also check out the news on dublin airport...the nos of cars abandoned. condoinvestor and kal, you will fall off your chair.

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    chkthis: spoke to my agent again on beacon edge which i like quite a bit. Developer refused to budge on 780psf and said developer might actually raise prices down the road, as majority bought at 1300psf. In fact, huttons too has got intructions fr other developers on no further discounts.

    Seems devpers havent woken up yet. Time will tell

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    Quote Originally Posted by gfoo
    chkthis: spoke to my agent again on beacon edge which i like quite a bit. Developer refused to budge on 780psf and said developer might actually raise prices down the road, as majority bought at 1300psf. In fact, huttons too has got intructions fr other developers on no further discounts.

    Seems devpers havent woken up yet. Time will tell
    Ah yah chances are they are trying to pyscho buyers to accept the asking price and dun expect a reduction..lol

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    Hi gfoo, i'm also interested to get a unit at Beacon Edge. Was also informed by agent that the developer will not drop below $780. Have not heard that developer might increase price tho....guess i'll look out for other developments around that area. The East Coast Price Watch you collated here is most useful....many thanks

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    Quote Originally Posted by muffin
    Hi gfoo, i'm also interested to get a unit at Beacon Edge. Was also informed by agent that the developer will not drop below $780. Have not heard that developer might increase price tho....guess i'll look out for other developments around that area. The East Coast Price Watch you collated here is most useful....many thanks
    Cool! Honestly, if i were to buy it at 780psf, i would be a complete irrational idiot not grounded in economic reality. In today's paper, one amber at $790psf, glacier lor m w 150k reno at $480psf, even carribean at 1k.

    I just hope developer gets back down to reality and make our decisions simpler an future losses slimmer

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    Yeah muffin! We buyers must keep cool. See the papers today, all the developers begging for property tax deferment and dragging of repayment from the government! Then on the other end tell buyers they won't drop below their launch price. What bull! Means they cannot tahan already but still putting up a front.

    Please refer to my post in ESTA thread, we must all be cautious and wait for ASH Sales.

    I believe in the next few months...sellers and developers will have to be realistic when the property market becomes like lim chu kang (A GRAVEYARD)! And they still have to bear the liabilities of holding on to their units.

    Even I have come to realise my offer of 700-750 for esta is stupid...i should wait for 600psf or less. (But who knows i might end up being the clown).

    BTW i saw an ad in the classifieds..one owner selling Amber Residences 17++ sq ft unit for 250psf below launch price. I smell smoke..... and when there's smoke...there...FIRE

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    Hey muffin, for beacon edge i think before you buy you better insist on going for an onsite tour like i did first. The devt is smaller than the pix and model . E.g. The 2 grd flr pes units- u can stand and one, and spit across the 'wading pool' into the other pes. It's that small. Also try gg there abt lunch and dinner time and stand at the back. The exhaust from astons and the korean bbq blasts fumra directlu into the back of left half of e development. The right half of the development will get affected by the bbq pits which are at most 2 car lengths to the epicenter of beacon edge. Which means the entire back facing blocks will either get korean bbq smell or sgp bbq smell. No wonder only the front facing were sold. Those who bought the rear blocks at 800psf are idiots

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    Hi gfoo,

    i agree. the development is smaller than i expected. It looks so good on the model/brochure though...still i think it's bigger than The Aadara, which is on the opposite side of the road. I'm considering getting Beacon Edget coz i love the location, esp with all the foodstalls and chill out places....waiting....waiting...for the right time...

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    I hope the developer negotiates sumthing w e foodstalls. Having food exhaust blowing full force into the living room aint too healthy, not to mention window grease and gg to work smelling like a bbq. Once the developer fixes that and their ridiculous pricing, i'll get a unit for fambly stay

    Just occurred to me : most beacon edge owners bought at $1280psf. Now its 780psf. Assuming avg size apt is 1000sq ft, they have lost on paper some $500,000 each.

    Any beacon edge owners in this forum? Did u buy via dps and if not, has banks asked for any top up yet?

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    Dearest HP65, chillout mate, I simply made that statement as to reply to earlier post abt citi classifying esta different to one amber,

    Anyway I still feel the way I do and that is my personal view, if you have an issue with it, well I am sorry but we are all entitled to our own views as long as we do not impose it on anyone,

    As to vested interest, yes I do certainly have, that is why I visit this forum to learn, share and get a feel of things,

    Gooday

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    Quote Originally Posted by gfoo
    I hope the developer negotiates sumthing w e foodstalls. Having food exhaust blowing full force into the living room aint too healthy, not to mention window grease and gg to work smelling like a bbq. Once the developer fixes that and their ridiculous pricing, i'll get a unit for fambly stay

    Just occurred to me : most beacon edge owners bought at $1280psf. Now its 780psf. Assuming avg size apt is 1000sq ft, they have lost on paper some $500,000 each.

    Any beacon edge owners in this forum? Did u buy via dps and if not, has banks asked for any top up yet?
    Yeah I did view the Beacon Edge as well. And I really liked it. Finishings were pretty good and so is the location. Didn't notice the aston's food exhaust nor the crampness you guys are referring to as the building struture wasnt up at that time. I'm still looking at Poshgrove East, The Beacon Edge and Tierra Vue (it's in order of preferance). I still think TSV, Esta and One Amber still our of my price range.

    Keep the price updates going gfoo. Really appreciate it mate! (:

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    Just went again to see the beacon edge site this evening.
    Korean BBQ smell overpowering, and on the other side where the apt bbq pits are you get faint exhaust from the bak kut teh place. mom-in-law peeked in and said way too cramped and dark due to high density. think i'll pass on this.

    Makes things much easier now. My shortlist:

    East
    1. One Amber
    2. Poshgrove East
    3. Ola

    Central
    1. Sail

    Orchard
    1. Spring Grove

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    I viewed Posh Grove last weekend. Didn't like it even though the development is bigger than Beacon Edge. The finishing is not as nice; quite plain and dull. The marketing agent quoted me $9xx psf. In today's classified, there's a unit marrketing for $6xx psf.

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    Quote Originally Posted by muffin
    I viewed Posh Grove last weekend. Didn't like it even though the development is bigger than Beacon Edge. The finishing is not as nice; quite plain and dull. The marketing agent quoted me $9xx psf. In today's classified, there's a unit marrketing for $6xx psf.
    $6XXpsf??? SERIOUS???

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    Hi, anyone have any comments on The Aristo? kinda like this development as it is very unique. Think it is selling around 900psf. Think is kinda high...


    Quote Originally Posted by gfoo
    Just went again to see the beacon edge site this evening.
    Korean BBQ smell overpowering, and on the other side where the apt bbq pits are you get faint exhaust from the bak kut teh place. mom-in-law peeked in and said way too cramped and dark due to high density. think i'll pass on this.

    Makes things much easier now. My shortlist:

    East
    1. One Amber
    2. Poshgrove East
    3. Ola

    Central
    1. Sail

    Orchard
    1. Spring Grove

  28. #28
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    Default East Coast Price

    Hi all,


    How much psf do you think Casa Merah will be worth then?


    Thanks

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    Any comments for those at Upper East Coast, Bayshore Road :-

    1) Costa Del Sol
    2) The Bayshore
    3) Bayshore Park

    any thoughts ???

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    Quote Originally Posted by Joyland
    Hi, anyone have any comments on The Aristo? kinda like this development as it is very unique. Think it is selling around 900psf. Think is kinda high...
    I kind of like the project as well, but quite turn off went I found out that the carpark is mechanical and there isnt any lot for guest. but if you have no carpark issue, personally think this project quite worth for money for that area, less than $1k psf.

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