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Thread: Meadows @ Pierce, former Green Meadows site (D26, Freehold, UOL)

  1. #121
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    reimburse me petrol/cab fare also i won't go, time of travel to and fro and time spent at showroom and studying layouts etc will still be many more hours wasted. that's even more precious than money.


    Quote Originally Posted by august
    they will have to reimburse my petrol or cab fare for me to go!

  2. #122
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    Agents’ ‘greed’ prompts warnings

    Posted by luxuryasiahome on July 24, 2009
    THE sizzling-hot property market and the rush by buyers to secure choice units have led some property agents to turn greedy.
    Some agents are offering potential buyers their services to secure a booking for their choice units if they pay them a commission. This has prompted at least two marketing agencies to warn their agents against this practice.
    This scheme is reportedly rampant at the freehold Meadows@Peirce development near Teachers’ Estate, which is supposed to be open for preview only from today.
    Some marketing agents, however, told Today that it is the potential buyers that are offering commissions to agents to secure for them their choice units.
    The fee earned by these agents is said to be about 1 per cent of the property value. With unit prices at Meadows@Peirce ranging from $900,000 to more than $1 million, these agents could potentially earn between $9,000 and more than $10,000 for each unit that they can secure for an eager buyer.
    In an email to its 3,000 associates on Wednesday, ERA Realty Network, one of the marketing agents for the project, warned: “Please do NOT collect commission from buyers for Meadows@Peirce or any other projects. Anyone caught doing so will be terminated from ERA and no commission will be paid to the associates.”
    ERA’s associate director Eugene Lim said the email was a “preventive measure”.
    “We want to stop it before anyone receives a commission. It is not right,” he added.
    Of late, ERA has been cracking the whip on its agents in an industry where complaints of rogue or ignorant agents are rife. Last week, ERA warned its agents against submitting transactions under the names of senior colleagues to garner a higher share of the commissions.
    And in February, a couple successfully sued ERA after its agents profited from “flipping” an apartment they were engaged to sell. The couple had sold their apartment through ERA agent Jeremy Ang, but it turned out that the buyer, Ms Natassha Sadiq, was the wife of his boss Mike Parikh, a senior director at ERA. She immediately resold the unit for a $257,000 gain.
    Another marketing agent for Meadows@Peirce also issued an email warning a few days ago. Knight Frank reminded its 700 agents that they cannot receive or ask for commission from buyers, cannot collect an entrance fee into the showflat and cannot ask for blank cheques, which can subsequently cause the buyer to feel pressured to make a purchase.
    The company’s executive director Foo Suan Peng said: “This is something we don’t condone because it will give rise to conflict of interest.”
    Agents Today spoke to said the “fee for secured booking” practice happens with other projects, too. One said there was “nothing wrong” for buyers to pay agents, as both are willing parties.
    Singapore Accredited Estate Agencies chief executive Tan Tee Khoon disagrees. He told Today: “The agent receives a commission from buyers when they are already hired by the developer to provide the services. That is unethical.”
    Source : Today – 24 Jul 2009

  3. #123
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    Was at the showflat 11am, the place was corwded. Unit #03-35 was sold for $1.32m. Was quoted #04-35 at $1.382m. 1 br unit asking for more than $1,000 psf.

    This project seems to be selling fast, all "cheque signing" tables were occupied. Overheard some agents replied potential buyers that their choice unit was sold.

    Can't see much for 3 br or 4 br units as they only have showflat for 5 bedroom and Mansionette unit.

    Quote Originally Posted by bargain hunter
    any news on how well is the take up for this? this place is so far away i don't think i will go down to the showroom.

  4. #124
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    *kow tow*
    *kow tow*
    *kow tow*



    ouch my head

  5. #125
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    we are seriously looking at the second wave and prices will go back to 2007 in no time.

  6. #126
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    Can't believe that people are rushing to buy this overpriced project. Even waterfront key has better finishing.... I went to take a look this morning, saw the price of 1 bedder, then go off liaoz.

  7. #127
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    Default some arguments for buying property at current prices and counter arguments

    1) Low interest rate on deposits, finding a better place to park cash: Property is brick and motar and will be safe, but is it really that good a place to seek returns? particularly, property prices for non prime areas are near their 2007 highs while the stock market is less than halfway between the highs and the lows despite the sti making a new multi month high today. Prices for prime while more significantly below exhuberrance high in 2007 is still more than halfway between the lows and the highs after the recent recovery.

    2) Low interest on loans: makes current projections of future monthly payments affordable at 2% p.a. What if interest rate is at 4%, is it still affordable?

    3) Inflation hedge: Property is an asset which goes up with inflation. However, with recent already inflated prices of some new launches, how much of a hedge is that?

    4) Missed previous peak, prices at discount now: Is there still a discount now for some projects?

    5) Pent-up demand sparked by low prices: are the prices still low? when it was the Caspian, Quartz launch/relaunch, yes. But if Meadows @ Pierce, Centro and Ascentia Sky sells well, is this still pent-up demand sparked by low prices?

    6) Upgraders excluded from last ppty run: that should explain the buying for OCR no doubt and probably for RCR as well. But for OCR/RCR at FROM 900 to 1150psf starting prices? Are these still upgraders?

    7) Price gap between hdb and condos narrowed: apparently, from M@P, Centro and A. Sky, launch prices, is this gap still narrow?

    8) Worried about further increase in prices: what about future supply? in addition to the 40,000 already slated, this year's more than 10,000 units sold is bound to at least add a few thousand units to this number.

  8. #128
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    what is the price of the 1 bedder out of curiosity?

    Quote Originally Posted by azeoprop
    Can't believe that people are rushing to buy this overpriced project. Even waterfront key has better finishing.... I went to take a look this morning, saw the price of 1 bedder, then go off liaoz.

  9. #129
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    i think earlier in the thread someone said 620k for the lowest floor of the tower block.


    Quote Originally Posted by Regulators
    what is the price of the 1 bedder out of curiosity?

  10. #130
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    how big is the floor size?


    Quote Originally Posted by bargain hunter
    i think earlier in the thread someone said 620k for the lowest floor of the tower block.

  11. #131
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    they have a variety from low 5xx sq ft to 624 sq ft. i think this one is for the 624 sq ft, so u can be sure a few floors above will be above 1000psf liao and needless to say, for the smaller sized 5xxsq ft 1 bedders would also be above 1000psf. Let's join august in kow tow?


    Quote Originally Posted by Regulators
    how big is the floor size?

  12. #132
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    thanks for update hmm...why only have showflat for the 2 largest units? wouldn't a typical buyer go for a 3 bedder?

    Quote Originally Posted by vinlow
    Was at the showflat 11am, the place was corwded. Unit #03-35 was sold for $1.32m. Was quoted #04-35 at $1.382m. 1 br unit asking for more than $1,000 psf.

    This project seems to be selling fast, all "cheque signing" tables were occupied. Overheard some agents replied potential buyers that their choice unit was sold.

    Can't see much for 3 br or 4 br units as they only have showflat for 5 bedroom and Mansionette unit.

  13. #133
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    another example of developers maximising on space and capitalising on psf of small units. it seems that 1kpsf pricing for small units is becoming a norm for RCR and OCR projects.

    Quote Originally Posted by bargain hunter
    they have a variety from low 5xx sq ft to 624 sq ft. i think this one is for the 624 sq ft, so u can be sure a few floors above will be above 1000psf liao and needless to say, for the smaller sized 5xxsq ft 1 bedders would also be above 1000psf. Let's join august in kow tow?

  14. #134
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    i still can't reason why i would want to pay 600+k for a 1 bedder in far flung locations. i'd rather stay in a 5 room hdb flat in central places like tiong bahru, its the same price, more than twice the size, way superior location (isn't ppty about location, location, location?) only reason is between pte and hdb but i juz can't justify this difference hee


    Quote Originally Posted by Regulators
    another example of developers maximising on space and capitalising on psf of small units. it seems that 1kpsf pricing for small units is becoming a norm for RCR and OCR projects.

  15. #135
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    developers are preying on buyers psychology. hdb upgraders feel that they can get piece pte living below 700k so to them it is a good deal coz condos in the prime are already into the millions. i wont be surprised if jurong hits 1k psf when the business district is up and going there. by then what do you think belastier or potong pasir would cost? FEO is never a good benchmark for pty pricing, but many developers would sooner or later benchmark the pricing of the largest developer when market picks up again. i have a strong feeling that when it picks up this time, it will be fiercer than 2007 but till then, we just have to wait and see....

    Quote Originally Posted by bargain hunter
    i still can't reason why i would want to pay 600+k for a 1 bedder in far flung locations. i'd rather stay in a 5 room hdb flat in central places like tiong bahru, its the same price, more than twice the size, way superior location (isn't ppty about location, location, location?) only reason is between pte and hdb but i juz can't justify this difference hee

  16. #136
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    If agent tell you that can see Pierce Reservoir, please don't believe them. My aunt use to stay on the 12th floor at the point block, cannot see the reservoir. Only can see the top of the trees.

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    Quote Originally Posted by tantan
    If agent tell you that can see Pierce Reservoir, please don't believe them. My aunt use to stay on the 12th floor at the point block, cannot see the reservoir. Only can see the top of the trees.
    agents will say "green top" view, worth a lot more hahaha ~

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    If you try visit the place at night, the pedestrian walkway leading to the condo is very very dark & quiet. Not safe for lady to walk along as someone maybe hiding inside the bushes.

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    went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...

    Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

    Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

    Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.

  20. #140
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    Quote Originally Posted by tick
    went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...

    Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

    Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

    Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.
    at the rate it is going very soon ...sembawang will also reach 1000 psf ..

    them marseilling .. and it will even spread across the coast way ...


    maybe we should start to buy from North down .. and wait for the price hike to move from South up ... ?? ??

  21. #141
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    My observation:

    1. Most of units sold are the 3 bedrooms. The bigger units like the 4-5 bedrooms, the penthouse are still available.

    2. Agent told me 80% of people opt for Interest Deferment Scheme (which adds 2%) more to the purchase price. Reason being if use normal scheme, need to pay 30% now.

    I think there are more speculators than buying for stay. People who missed out on the last property run is here to catch this 2nd wave up.

    I will wait for the 2nd wave down before considering to buy...

  22. #142
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    hrmmm....maybe next time got starbuys for the tower block haa haa....

  23. #143
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    great report! you should buy a unit to justify your $50 ticket hahaha...madness liao...


    Quote Originally Posted by tick
    went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...

    Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

    Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

    Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.

  24. #144
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    Quote Originally Posted by bargain hunter
    great report! you should buy a unit to justify your $50 ticket hahaha...madness liao...
    by the way .. where exactly is Meadow ?
    is it deep inside the prata area ? and where the road on the right leads to the reservior ? the one with colonies of monkeys ?

  25. #145
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    Quote Originally Posted by proud owner
    by the way .. where exactly is Meadow ?
    is it deep inside the prata area ? and where the road on the right leads to the reservior ? the one with colonies of monkeys ?
    Its at the junction of Yio Chu Kang road and Upper Thomson road. Near the Prata and monkeys.

  26. #146
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    Quote Originally Posted by azeoprop
    Its at the junction of Yio Chu Kang road and Upper Thomson road. Near the Prata and monkeys.
    aiyo

    further down the road got FH condo at 600+ psf n have rental demand from those working at naval base somemore ..n shopping centre ...

  27. #147
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    that's further up north isn't it? they really know how to market this greenery/reservoir thinghy lor...but actually that's across one big noisy road lah...

    Quote Originally Posted by proud owner
    aiyo

    further down the road got FH condo at 600+ psf n have rental demand from those working at naval base somemore ..n shopping centre ...

  28. #148
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    Look like clover by the park at around $650 to $750 psf is a good buy. Better location, rental yield, good view, good schools, amenities but LH. Resales LH condo at Bishan transacting at around $950 psf already.

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    Quote Originally Posted by bargain hunter
    that's further up north isn't it? they really know how to market this greenery/reservoir thinghy lor...but actually that's across one big noisy road lah...
    Yes, confirm the stretch along the main road is super noisy...I witness it at the showroom around 7pm....the actually lock the door so that people will not experience the real noise...

    the agent try to convince that..."both of you working in the day, correct? then you won't be affected by the road noise, correct?...."

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    => average 880psf

    Over 70% of units at Meadows@Peirce condominium sold

    By May Wong

    SINGAPORE: Over 70 per cent or 180 units at the Meadows@Peirce condominium were sold at a private preview on Friday before the official launch next week.
    In a statement, property developer UOL Group said a total of 250 units were offered at the preview. The developer had initially planned to release 150 units, but it added 100 more due to overwhelming response.
    UOL said it will also bring forward its official launch by three days to next Tuesday instead of August 1. It will then release another 100 units at an average price of S$880 per square foot.
    Meadows@Peirce is a 479-unit condominium located along Upper Thomson Road, opposite Peirce Reservoir. It occupies the previous Green Meadows condominium site.
    UOL said it is one of the largest freehold sites to be launched recently. It occupies 43,000 square metres of land in the private residential enclave of Thomson, near Teachers’ Estate.
    The last condominium launched in this area was in May 2005, located off Yio Chu Kang Road.
    Sizes for the Meadows@Peirce units vary from 517 square foot one-bedroom unit to 3,068 square foot penthouse.
    UOL will be offering interest absorption scheme to buyers of Meadows@Peirce, slated for completion in 2012. - CNA/vm
    Source : Channel NewsAsia - 25 July 2009

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