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Thread: I will buy rivergate and the sail

  1. #31
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    pls confirm with ur source bro...if 880psf for bulk, surely must be some reits fund or developer buy for investment one...

    moreover, not tt i want to splash cold water but if rivergate 700psf, agents will buy first as they have the inside info.
    I will buy first no need to wait for buyers because i know sure can sell above 1k in time to come. Maybe nt now but maybe @ least 1-2yrs down the rd when the mkt picks up. (pls dun be with me...i just stating facts to u guys).

    This project & location is definitely worth more than 1k psf.
    Very confident..when the surroundings are matured and developed like those near The Quayside (al-fresco fine dining bars and cafe), it'll bring life and zest into the surroundings. 1k psf for The Rivergate is an understatement in my personal opinion.

  2. #32
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    Well firstly the info is provided by an agent a while ago, I would not confirm if its 100% true that's why I'm checking with others on this news as well

    From my understanding the 80 units are spread on the 3 blocks on the even floors and deal was secured @ $880psf

    As for the buyer, I'm not implying it is an individual since I was not provided any info who bought it. I would have assumed that it is mostly likely to be bot by a developer or fund hse as what you mentioned.

    If the above is true, the subsale of these units will likely be more than 880psf.

  3. #33
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    An agent email me whether am I keen to buy Rivergate at 950 to 1000psf

    anyone can advise whether is it a good buy...

    I guess is ball roll over from the fund management saga....

  4. #34
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    Quote Originally Posted by Acer
    An agent email me whether am I keen to buy Rivergate at 950 to 1000psf

    anyone can advise whether is it a good buy...

    I guess is ball roll over from the fund management saga....
    It is too early to tell... If the 100 units up for grab are being snap up at $1000psf, then it may be a good deal. But if in the next 2 to 3 months, the 100 units are still being left for grab? What do you think?

  5. #35
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    I tend to believe even at $1k psf it would be snap up, if it comes to the point no fund will buy all, the owner can release to retail. It may take a bit of time for mkt to digest though. Else, owner can rent out cheap just to get cash flow going...

  6. #36
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    Quote Originally Posted by home-run
    pls confirm with ur source bro...if 880psf for bulk, surely must be some reits fund or developer buy for investment one...

    moreover, not tt i want to splash cold water but if rivergate 700psf, agents will buy first as they have the inside info.
    I will buy first no need to wait for buyers because i know sure can sell above 1k in time to come. Maybe nt now but maybe @ least 1-2yrs down the rd when the mkt picks up. (pls dun be with me...i just stating facts to u guys).

    This project & location is definitely worth more than 1k psf.
    Very confident..when the surroundings are matured and developed like those near The Quayside (al-fresco fine dining bars and cafe), it'll bring life and zest into the surroundings. 1k psf for The Rivergate is an understatement in my personal opinion.
    If things are really so rosy, do you think the fund wouldn't hold out a bit earlier. And if they think can just easily collect rental, would they not keep the units. Afterall, they bought was also for long term investment, ie including rental and capital appreciation.

    Obviously now neither investment strategy will work, they have decided to cut loss and dump the units. I maintain the world and singapore has not seen the worst and prices will take a few more qtrs to decline before rising again. Easily 2-3 yrs more to go. So whenever price dip a bit, there will be some bargain hunters rushing to temporary support the price. After awhile, the support level will be breached again and cheaper deals will once again be available.

    So by all means, please go ahead and buy so that the next lower support level can be breached. I'm waiting until all the bargain hunters are gone. When rental market tanked. The people who buys now still need to find a tenant to partially support the loan. To me, that means property prices can still drop much further. The time to buy is when nobody dares to buy because there is no tenant, which will happen soon in the next few qtr.

    I will salute you if you have at least $700k spare cash to buy even a 2-bedder. If you have to beg, steal, borrow or rally friends, family members, then my humble advice is, if you want to gamble, gamble with your own money, but not your love ones. Because if you dun have the cash, what makes you think you can buy the property even if you know of the deal. Banks are unlikely to lend you unless you hold a stable job like government official.

  7. #37
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    Nothing to do with investment strategy. it's about fund redemption.

    because unit holders are cashing out and redeeming the fund, banks require topups to maintain the debt-to-equity ratio of the fund. i suspect that many have pulled out of the fund, that is why it is no longer viable for the fund to hold the units.

    if this was a cash rich fund with the support of unit holders, they can hold on indefinitely

    unfortunately, ferrel funds tend to be a little mickey mouse and niche

    Quote Originally Posted by HP65
    If things are really so rosy, do you think the fund wouldn't hold out a bit earlier. And if they think can just easily collect rental, would they not keep the units. Afterall, they bought was also for long term investment, ie including rental and capital appreciation.

    Obviously now neither investment strategy will work, they have decided to cut loss and dump the units. I maintain the world and singapore has not seen the worst and prices will take a few more qtrs to decline before rising again. Easily 2-3 yrs more to go. So whenever price dip a bit, there will be some bargain hunters rushing to temporary support the price. After awhile, the support level will be breached again and cheaper deals will once again be available.

    So by all means, please go ahead and buy so that the next lower support level can be breached. I'm waiting until all the bargain hunters are gone. When rental market tanked. The people who buys now still need to find a tenant to partially support the loan. To me, that means property prices can still drop much further. The time to buy is when nobody dares to buy because there is no tenant, which will happen soon in the next few qtr.

  8. #38
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    i maintain there is no hurry and this is still not the time to buy especially if its for investment.

  9. #39
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    Default I do not understand how Singapore property buyers think, please educate me!!

    Blame it on my inexperience or something, but i really do not understand how singapore property buyers think and derive what is fair pricing - so guys, please feel free to educate or correct my thinking - i wanna learn! The following diatribe is mainly for own-stay buyers, not investment buyers (who will wanna invest in the suburbs, i really don't know)

    Let's take the following BT report as a backgrounder (http://luxuryasiahome.wordpress.com/...-units-in-feb/)

    Suburban condos are selling like hotcakes at the $600psf psychological level. This is 10% off its peak in 2007. But new developments in Simei etc etc will similarly be priced as such.

    Let's take the post SARs 2005 market pricing, which is already very generous. Condos in the suburbs were going for about $350psf. In comparison, BTO flats were going for $200psf. Today they are $300psf

    This means the following:
    - suburban condo buyers are paying a 75% premium over 2005 prices
    - suburban HDB buyers are paying a 50% premium over 2005 prices
    - this is the same story and percentages for D15 'hot' areas as well

    Core central region like orchard/balmoral are now 50% down its highs and 5-15% over 2005 levels. technically, one can buy a 1000sq ft older apartment at the same price quantum of a 1300sq ft suburban condo, but without the waste space planter, bay window, PES, bomb shelter tricks new developers use.

    Thus my question.

    Why dey, why?

  10. #40
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    Quote Originally Posted by gfoo

    Let's take the post SARs 2005 market pricing, which is already very generous. Condos in the suburbs were going for about $350psf. In comparison, BTO flats were going for $200psf. Today they are $300psf

    This means the following:
    - suburban condo buyers are paying a 75% premium over 2005 prices
    - suburban HDB buyers are paying a 50% premium over 2005 prices
    - this is the same story and percentages for D15 'hot' areas as well

    Core central region like orchard/balmoral are now 50% down its highs and 5-15% over 2005 levels. technically, one can buy a 1000sq ft older apartment at the same price quantum of a 1300sq ft suburban condo, but without the waste space planter, bay window, PES, bomb shelter tricks new developers use.

    Thus my question.

    Why dey, why?
    i think 66% of ppl out there are a bit blind one, or have misplaced confidence ~ hehe

  11. #41
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    Yes , the fund buy or sell depends on one thing--redemption.
    They will only churn from one to another when there is profit to be made.
    If losses incurred cos of the switch , it look bad on their book which is marked to market (inhouse valuation for property).
    Cashflow is the key when it comes to investment.
    The bank is always cautious if the percentage of quantum of loan is high relative to the valuation of the property.
    If u are borrowing less than 40% , most banks will ask little questions about ability of monthly or interest only repayment.
    Indonesians often unable to provide income statement in Singapore to banks but cos of the loan quatum is low , most got it approved without much hassle.
    2 cents.

  12. #42
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    Quote Originally Posted by gfoo
    Blame it on my inexperience or something, but i really do not understand how singapore property buyers think and derive what is fair pricing - so guys, please feel free to educate or correct my thinking - i wanna learn! The following diatribe is mainly for own-stay buyers, not investment buyers (who will wanna invest in the suburbs, i really don't know)

    Let's take the following BT report as a backgrounder (http://luxuryasiahome.wordpress.com/...-units-in-feb/)

    Suburban condos are selling like hotcakes at the $600psf psychological level. This is 10% off its peak in 2007. But new developments in Simei etc etc will similarly be priced as such.

    Let's take the post SARs 2005 market pricing, which is already very generous. Condos in the suburbs were going for about $350psf. In comparison, BTO flats were going for $200psf. Today they are $300psf

    This means the following:
    - suburban condo buyers are paying a 75% premium over 2005 prices
    - suburban HDB buyers are paying a 50% premium over 2005 prices
    - this is the same story and percentages for D15 'hot' areas as well

    Core central region like orchard/balmoral are now 50% down its highs and 5-15% over 2005 levels. technically, one can buy a 1000sq ft older apartment at the same price quantum of a 1300sq ft suburban condo, but without the waste space planter, bay window, PES, bomb shelter tricks new developers use.

    Thus my question.

    Why dey, why?
    hi bro, will you switch from the sail to watergate if it's $950psf?

  13. #43
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    Quote Originally Posted by august
    i think 66% of ppl out there are a bit blind one, or have misplaced confidence ~ hehe
    prior to 2007 construction cost only 100 psf ...

    but since the sand ban ... it shot up to as high as 280 psf ... even now.. i believe its 200 psf ... thats still a 100 pct increase in building cost ...

    that will explain the difference between post SARS 2005 price and now

  14. #44
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    Quote Originally Posted by proud owner
    prior to 2007 construction cost only 100 psf ...

    but since the sand ban ... it shot up to as high as 280 psf ... even now.. i believe its 200 psf ... thats still a 100 pct increase in building cost ...

    that will explain the difference between post SARS 2005 price and now
    Well said. Same thought as me

    Wonder where they buy the sand from?

  15. #45
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    not a chance. rivergate is one development that is waaay overpriced. it's nowhere near to orchard, and the river valley grove/leonie areas are better priced at about $1000psf. there is a reason why MS has become a ghost town since 2007

  16. #46
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    Quote Originally Posted by gfoo
    not a chance. rivergate is one development that is waaay overpriced. it's nowhere near to orchard, and the river valley grove/leonie areas are better priced at about $1000psf. there is a reason why MS has become a ghost town since 2007
    sorry, what's the reason why MS has become a ghost town since 2007??? can detailed a bit?

  17. #47
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    Quote Originally Posted by gfoo
    not a chance. rivergate is one development that is waaay overpriced. it's nowhere near to orchard, and the river valley grove/leonie areas are better priced at about $1000psf. there is a reason why MS has become a ghost town since 2007
    Agreed that RG is overpriced based currently prevailing price.
    By the way , which new condos in Leonie is selling at or near $1000psf?

  18. #48
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    Quote Originally Posted by East Lover
    sorry, what's the reason why MS has become a ghost town since 2007??? can detailed a bit?
    little to no public transport infrastructure. apart from high priced gourmet restaurants and shops, very little amenities. the river gets very smelly during low tide. during indian festivals and thaipusam and every other month, the area turns into a foreign worker extension. late at night, the mat rempits rule.

    try going there on a weekend during the day. it feels very sleepy.

    then go there during the nite. it feels dangerous and undesirable.

    the only good thing was the SYTs at the chocolatefactory, but even that's gone now

  19. #49
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    Quote Originally Posted by gfoo
    little to no public transport infrastructure. apart from high priced gourmet restaurants and shops, very little amenities. the river gets very smelly during low tide. during indian festivals and thaipusam and every other month, the area turns into a foreign worker extension. late at night, the mat rempits rule.

    try going there on a weekend during the day. it feels very sleepy.

    then go there during the nite. it feels dangerous and undesirable.

    the only good thing was the SYTs at the chocolatefactory, but even that's gone now
    wow!

  20. #50
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    that's why i very kiasu one. before i buy, i go stake out the place. e.g. was really really into beacon edge at tembeling. the number of times i go there stake out, go behind smell restaurant exhaust etc etc - countless.

    heck i even went into the korean bbq restaurant to makan, kaypoh a bit. this restaurant's exhaust blows directly into the condo, making the whole place smell like an astons.

    i guarantee if you buy beacon edge, you will always feel hungry!!

  21. #51
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    Quote Originally Posted by East Lover
    wow!
    my agent friend also advised :
    dont buy near religious ground ..be it church/temple/mosque
    dont buy near hospital (thats why in 2006 i saw a corner terrace, land 4800 sqft only 1.28 mio but next to church...i siam ... Novena)

    same reason why i refused to consider Imperial when my wife wanted to buy at 900 psf (near launch)

    although prices have gone up ...i still no regret

  22. #52
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    Quote Originally Posted by proud owner
    my agent friend also advised :
    dont buy near religious ground ..be it church/temple/mosque
    dont buy near hospital (thats why in 2006 i saw a corner terrace, land 4800 sqft only 1.28 mio but next to church...i siam ... Novena)

    same reason why i refused to consider Imperial when my wife wanted to buy at 900 psf (near launch)

    although prices have gone up ...i still no regret
    very true. i grew up at a place at the foot of mount faber. prime property today, super high value.

    but it was built on top of an ancient malay cemetary. within a 500m radius was a temple, a mosque, 3 churches, and an ancient cave where the bones of a majapahit princess is rumored to lay.

    when i was a kid, i wouldn't be able to sleep until the maid stand guard at my door till i fall asleep. also always kena 'woken' up in middle of nite. family riches went to the pits, tons of quarrels. same thing for most of my neighbours. priests and mediums of chinese and christian faith both say the whole development got problem.

    after sold and move out, family boomtown charlie.

    the place you stay makes a huge difference. some places give me free also i don't want, unless to store my car parts

    e.g. the Peak at Balmoral; those new condos at irrawady

  23. #53
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    Quote Originally Posted by gfoo
    not a chance. rivergate is one development that is waaay overpriced. it's nowhere near to orchard, and the river valley grove/leonie areas are better priced at about $1000psf. there is a reason why MS has become a ghost town since 2007
    Thought you mentioned you will buy RG at launch price?


    http://forums.condosingapore.com/showthread.php?t=7130

  24. #54
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    that was 2 days ago mah

  25. #55
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    Quote Originally Posted by HP65
    If things are really so rosy, do you think the fund wouldn't hold out a bit earlier. And if they think can just easily collect rental, would they not keep the units. Afterall, they bought was also for long term investment, ie including rental and capital appreciation.

    Obviously now neither investment strategy will work, they have decided to cut loss and dump the units. I maintain the world and singapore has not seen the worst and prices will take a few more qtrs to decline before rising again. Easily 2-3 yrs more to go. So whenever price dip a bit, there will be some bargain hunters rushing to temporary support the price. After awhile, the support level will be breached again and cheaper deals will once again be available.

    So by all means, please go ahead and buy so that the next lower support level can be breached. I'm waiting until all the bargain hunters are gone. When rental market tanked. The people who buys now still need to find a tenant to partially support the loan. To me, that means property prices can still drop much further. The time to buy is when nobody dares to buy because there is no tenant, which will happen soon in the next few qtr.

    I will salute you if you have at least $700k spare cash to buy even a 2-bedder. If you have to beg, steal, borrow or rally friends, family members, then my humble advice is, if you want to gamble, gamble with your own money, but not your love ones. Because if you dun have the cash, what makes you think you can buy the property even if you know of the deal. Banks are unlikely to lend you unless you hold a stable job like government official.
    Talking about government official....IMHO, now government still taking in people for government jobs. That's a sigh that things are bad. But when you start to see them Restructuring and laying off, that's the sigh or bull marketing.

  26. #56
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    Quote Originally Posted by gfoo
    that was 2 days ago mah
    Haha, couldn't say much. Just remind me that when I wanted to buy a unit at MBR, almost issued a cheque but something held me back(too bz lah) 2 days later the agent called me and I told him I decided to back out. He asked why? Told him, that was 2 days ago....Haha

  27. #57
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    Quote Originally Posted by Property_Owner
    Haha, couldn't say much. Just remind me that when I wanted to buy a unit at MBR, almost issued a cheque but something held me back(too bz lah) 2 days later the agent called me and I told him I decided to back out. He asked why? Told him, that was 2 days ago....Haha
    Haha... I lagi best... I told my agent that the price was 2 Hrs ago... That was before I gotten the news that Citi Bank is having retrenchment. The news itself saved me at least $30K. 8)

  28. #58
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    Quote Originally Posted by proud owner
    my agent friend also advised :
    dont buy near religious ground ..be it church/temple/mosque
    dont buy near hospital (thats why in 2006 i saw a corner terrace, land 4800 sqft only 1.28 mio but next to church...i siam ... Novena)

    same reason why i refused to consider Imperial when my wife wanted to buy at 900 psf (near launch)

    although prices have gone up ...i still no regret
    lf like that, all the projects in Novena can not buy liao, Novena seems like a medical center, all the hospitals, cancel centres all near by... night time must be very scary leh...

  29. #59
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    Quote Originally Posted by vin002
    Haha... I lagi best... I told my agent that the price was 2 Hrs ago... That was before I gotten the news that Citi Bank is having retrenchment. The news itself saved me at least $30K. 8)
    sorry, i'm a bit slow, how can the citibank retrenchment save you at least $30K???

  30. #60
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    Quote Originally Posted by gfoo
    very true. i grew up at a place at the foot of mount faber. prime property today, super high value.

    but it was built on top of an ancient malay cemetary. within a 500m radius was a temple, a mosque, 3 churches, and an ancient cave where the bones of a majapahit princess is rumored to lay.

    when i was a kid, i wouldn't be able to sleep until the maid stand guard at my door till i fall asleep. also always kena 'woken' up in middle of nite. family riches went to the pits, tons of quarrels. same thing for most of my neighbours. priests and mediums of chinese and christian faith both say the whole development got problem.

    after sold and move out, family boomtown charlie.

    the place you stay makes a huge difference. some places give me free also i don't want, unless to store my car parts

    e.g. the Peak at Balmoral; those new condos at irrawady
    The place you stay makes a huge difference. totally agreed!

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