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Thread: QUEENS (Nov-2002)

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    Smile QUEENS (Nov-2002)

    Project Name-QUEENS
    Developer-Queenstown Peak Pte Ltd(Allgreen Properties Limited / Hoe Seng Co. (pte) Ltd)
    Property Type-Condominium
    Tenure - 99 Yrs From 16/02/1998
    Total Units - 722
    Completion Date - Nov-2002
    District - 3





















    >>> click here for more floor plans >>>


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    Record $653,000 for flat
    Jessica Cheam
    The Straits Times
    Thursday, 12 November 2009, 10.12 pm


    Chris Neo (left) and Kelvin Lim (right), seller of the flat Michael Nandakumaran (center), with sold a HDB flat at Blk 48, Strathmore Avenue for a record price of $653k. -- Photo: Desmond Lim, ST

    A 4-room Queenstown HDB flat has sold for $653,000, setting a new record for psf, amid continuing red-hot demand for resale flats.

    The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.

    But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.

    The 4-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.

    This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10%.

    This may be an unusually high price but resale prices have been moving up.

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    7-year-old Queens has reached $1,075 psf.
    Can it break $1,100 psf as it reaches 8-year-old this year?


    Queens
    Address ...................... psf .............. Area ......... Price ............. Contract Date
    10 Stirling Road #21-05 .... $1,049 psf ...... 915 sqft ...... $960,000 .... 21 Dec 09
    16 Stirling Road #10-15 ...... $937 psf .... 1,195 sqft .... $1,120,000 ..... 7 Dec 09
    12 Stirling Road #26-08 ...... $986 psf .... 1,410 sqft .. $1,390,000 ..... 7 Dec 09
    10 Stirling Road #37-02 ... $1,075 psf ... 1,195 sqft .... $1,285,000 ... 26 Nov 09
    16 Stirling Road #06-20 ...... $870 psf .... 1,195 sqft .... $1,040,000 ... 16 Nov 09
    16 Stirling Road #19-18 ...... $992 psf ...... 915 sqft ....... $908,000 ..... 9 Nov 09
    12 Stirling Road #13-09 ...... $936 psf .... 1,410 sqft .... $1,320,000 ..... 3 Nov 09

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    Quote Originally Posted by Reporter, 18 January 2010 10.57 am
    7-year-old Queens has reached $1,075 psf.
    Can it break $1,100 psf as it reaches 8-year-old this year?


    ..........
    ..........
    Can Queens break $1,100 psf this year?
    Of course, it can.
    Going-8-year-old Queens has a nw hgh of $1,169 psf!


    Queens
    Address ....................... psf ............... Area ........ Price ............ Contract Date
    16 Stirling Road #22-18 .... $1,169 psf .... 915 sqft .... $1,070,000 .... 31 Mar 10

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    Quote Originally Posted by Reporter
    Can Queens break $1,100 psf this year?
    Of course, it can.
    Going-8-year-old Queens has a nw hgh of $1,169 psf!


    Queens
    Address ....................... psf ............... Area ........ Price ............ Contract Date
    16 Stirling Road #22-18 .... $1,169 psf .... 915 sqft .... $1,070,000 .... 31 Mar 10
    HELLO! What's this?

    The Government said Queenstown is for "Low Income People". That's what they said.


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    Quote Originally Posted by jlrx
    HELLO! What's this?

    The Government said Queenstown is for "Low Income People". That's what they said.

    is it ? who said that? poor queenstowner... selling their flat at record high hdb prices still tagged as poor?

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    Quote Originally Posted by wklibran
    is it ? who said that? poor queenstowner... selling their flat at record high hdb prices still tagged as poor?
    the report was way back in 1964......

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    This development's 99 year land lease started from 1998 ?

    Been a good 12 years already. Technically speaking, this should be 12% discount (or more?) from brand new 99 LH in the area ?

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    Quote Originally Posted by DKSG, 22 April 2010 12.10 am
    This development's 99 year land lease started from 1998 ?

    Been a good 12 years already. Technically speaking, this should be 12% discount (or more?) from brand new 99 LH in the area ?
    12% discount from $1,477 psf is $1,300 psf?

    Queens has $130 psf more to go as of todays' pricing?
    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of October 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Ascentia Sky .... RCR ...... 161 ...................... 5 ........................... 1,477 ........... 1,282 .......... 1,240

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    Quote Originally Posted by Reporter
    12% discount from $1,477 psf is $1,300 psf?

    Queens has $130 psf more to go as of todays' pricing?
    why compared to ascentia sky? btw, heard the developer is launching phase 2 of ascentia sky soon...

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    I believe the 12% is a very prudent guide.

    Currently, I think most places are trading at minimum 15%.

    For comparison between uncompleted (Ascentia Sky) and 12 years old Queens, if I am buying, I will use at 20% guide instead.

    Imagine if u buy and hold 5 years, then it would have been 17 years !

    Just my thoughts, dont ham tam me.

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    Dear bros,

    Any comments on this development in terms of investment and own stay?

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    Quote Originally Posted by KC76
    Dear bros,

    Any comments on this development in terms of investment and own stay?

    I would say The Anchorage, just 5 mins walk from Queens and selling at the same pice psf (average $1,100psf) as 99 year leasehold Queens, is a better buy in the long term, being freehold, and sitting on a huge plot of land over 600,000 sq ft.

    Massive returns when eventually enblock.

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    Quote Originally Posted by peakpeak
    I would say The Anchorage, just 5 mins walk from Queens and selling at the same pice psf (average $1,100psf) as 99 year leasehold Queens, is a better buy in the long term, being freehold, and sitting on a huge plot of land over 600,000 sq ft.

    Massive returns when eventually enblock.
    I gathered the following from some agents...
    Queens: Not cheap nowadays and majority facing MRT tracks.
    Anchorage: Oldish design with a lot of Indians staying either as tenants / self owned. I was told some played tennis, go sauna with their sari.

    Anyone can confirm?

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    Quote Originally Posted by mygeemeel
    I gathered the following from some agents...
    Queens: Not cheap nowadays and majority facing MRT tracks.
    Anchorage: Oldish design with a lot of Indians staying either as tenants / self owned. I was told some played tennis, go sauna with their sari.

    Anyone can confirm?
    Noticed some indians when i viewed some units at anchorage....both units got severe leaking problems....

    The common area looks not too bad....passable

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    Quote Originally Posted by devilplate
    Noticed some indians when i viewed some units at anchorage....both units got severe leaking problems....

    The common area looks not too bad....passable
    I guess buying any pre-owned units sure got leakages right?

    Anyway, i have no problem having Indian nationalities as neighbours. Only worry of the difference in culture might result in harder to sell in future. Some buyers can tahan, some cannot.

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    Quote Originally Posted by mygeemeel
    I guess buying any pre-owned units sure got leakages right?
    have viewed Queens few weeks back. Very use-able floor area. I'm just concerned about the 13yr lease gone.. 1.1k plus psf. is it worth buying? regardless to stay or invest? Agent said around 40-50% rented out.

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    Quote Originally Posted by whoh757
    have viewed Queens few weeks back. Very use-able floor area. I'm just concerned about the 13yr lease gone.. 1.1k plus psf. is it worth buying? regardless to stay or invest? Agent said around 40-50% rented out.
    Top up abit ard 100psf to get metropolitan?

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    Quote Originally Posted by whoh757
    have viewed Queens few weeks back. Very use-able floor area. I'm just concerned about the 13yr lease gone.. 1.1k plus psf. is it worth buying? regardless to stay or invest? Agent said around 40-50% rented out.
    May want to consider whether present tenants in Anchorage and Queens would change to Interlace, Metropolitan, Ascentia Sky in time to come?

    If my company pays for housing, I would like brand new places and it happened that these new developments are nearby.

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    View from the opposite block.

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    Btw, the empty land behind the 2 blocks is part of the reserve list for sale in 2012.
    http://www.mnd.gov.sg/MNDAPPImages/N...11206/RL-3.pdf

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    Default Mall at Queenstown MRT

    The plot of land facing Queens Condo on the opposite side of the MRT should be re-planned for a mall.

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    The Echelon effect

    record psf

    2013-01-24 #XX-XX 915 1,519psf 2005-06-03 601 839,970 2,792 12.9
    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    The Echelon effect

    record psf

    2013-01-24 #XX-XX 915 1,519psf 2005-06-03 601 839,970 2,792 12.9
    If you check the growth of heritage view, dover parkview and one-north residence in both prices and rentals in recent months, you will observe that
    Echelon does not help the return of redhill and queesntown, except to sending the PC prices in the west to the all time high.

    the rental of heritage view has already upbeat Queens, and its price has almost doubled from 09 to now.

    Echelon buyers will regret sooner or later.

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    Quote Originally Posted by phantom_opera
    The Echelon effect

    record psf

    2013-01-24 #XX-XX 915 1,519psf 2005-06-03 601 839,970 2,792 12.9
    Queens isn't freehold right?

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    Quote Originally Posted by kane
    Queens isn't freehold right?
    that's why is amazing ... ppl are paying almost same price for 80y/85y lease relative to 99LH
    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    that's why is amazing ... ppl are paying almost same price for 80y/85y lease relative to 99LH
    Not many people realised that.

    I think the land lease started from 1997 which means its 13 years old now!

    But then we dont know the buyer la!~ Maybe he cash out of some Sentosa properties bought at 850 psf and sold for 3,000 psf and decide to buy a nice (???) place to retire and let the current own Huat a bit?

    To each his own (money) !

    DKSG

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    Quote Originally Posted by phantom_opera
    The Echelon effect

    record psf

    2013-01-24 #XX-XX 915 1,519psf 2005-06-03 601 839,970 2,792 12.9
    Could also be the effect of the GLS land sale on the Commonwealth avenue site near Queenstown MRT. At $882 per sq ft ppr, that new site land price is higher than the land price paid for Echelon.

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    Quote Originally Posted by DKSG
    Not many people realised that.

    I think the land lease started from 1997 which means its 13 years old now!

    But then we dont know the buyer la!~ Maybe he cash out of some Sentosa properties bought at 850 psf and sold for 3,000 psf and decide to buy a nice (???) place to retire and let the current own Huat a bit?

    To each his own (money) !

    DKSG
    cheap money may play a part here, POSB(aka DBS) is dying to lend out money with so many saving accounts paying 0.1% interest rate so IMO their valuation may be relaxed regardless of whether is 99LH or 85LH or 80LH
    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    that's why is amazing ... ppl are paying almost same price for 80y/85y lease relative to 99LH
    I have heard good things about queens. But to pay that much for it. Well, whatever makes the buyer happy lah..

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