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Thread: The Beverly (D21, Freehold, Hiap Hoe)

  1. #31
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    http://www.straitstimes.com/Money/St...ry_347025.html

    March 7, 2009 Saturday

    Fairly brisk sales for new condos

    Attractive prices draw buyers to entry-level and mid-priced projects

    By Fiona Chan, Property Reporter


    THE show-flat crowd - that rarest of species these days - has been lured back into the market by two new developments that held soft launches this week.

    Hundreds of people turned up at the Double Bay Residences showroom in Simei when its doors opened for a private preview yesterday.

    Developer UOL Group said more than 80 units have been sold so far, at an average price of $600 per sq ft (psf) to $650 psf. The development's six retail units have all been sold as well.

    Chief operating officer Liam Wee Sin noted that the response was strong ahead of the 99-year leasehold condominium's official launch next weekend.

    UOL has so far released 250 of the 646 units in Double Bay for sale. One-bedroom units in the Simei Street 4 project start from $420,000, while four-bedders cost at least $930,000.

    The crowds were also out for The Mercury in Shanghai Road, which was said to be more than 60 per cent sold since it started previews on Thursday.

    The 67-unit freehold project is priced from about $1,040 psf. One-bedroom units at the River Valley estate start from $740,000, while two-bedders are going for about $1.1 million.

    The fairly brisk sales for these projects come on the heels of a few successful launches recently, which appear to have boosted sentiment in the badly battered property market.

    Last month, Frasers Centrepoint said it sold over 300 units in three days at its Caspian condominium in Jurong. To date, over 500 of the 712 units have been sold.

    Caspian's success was mirrored at The Alexis in Alexandra Road, which sold out within a few days of its preview.

    Property consultants say the main draw for these projects is their attractive prices, which, at well under $1 million, are affordable for HDB upgraders. Even mid-tier projects such as The Alexis and The Mercury feature smaller units to offset their higher per square foot prices.

    'These days, it looks like the total quantum of price is more important than the price per square foot,' said Knight Frank director of research and consultancy Nicholas Mak. 'In some areas, prices have come down 20 per cent to 30 per cent from the peak, and there are probably people who see these buys as good bargains.'

    Still, most of the sales activity are confined to the entry-level and mid-priced market. High-end projects are still facing a very challenging time, consultants say.

    And while transactions are being steadily chalked up, there remain clear signs that not everything is fine and dandy in this economic recession.

    At The Mercury, for instance, agents marketing the project said they had expected it to be fully sold within one day.

    In Toh Tuck Road, off Upper Bukit Timah, boutique developer Hiap Hoe was said to have sold only a handful of units in The Beverly condominium, although news reports said more than 300 people turned up for its launch last weekend.

    Hiap Hoe released 31 of the 118 units at an average price of $750 psf. The apartments are a bit bigger than average, starting from 1,120 sq ft for the smallest two-

    bedroom units, which translates into somewhat higher prices per unit.

    The developer is also not offering the interest absorption scheme for The Beverly, which was on offer for the Caspian and The Alexis and is available for Double Bay and The Mercury.

    Under the scheme, buyers who take out a loan immediately on purchase pay only a down payment and defer remaining instalments until the project is finished.

    Mr Liam of UOL, however, said more of Double Bay's buyers opted for the normal payment schemes rather than taking up interest absorption.

    The buyers so far have been a mixed bag - HDB upgraders, private home owners and owner-occupiers, and investors.

    On the whole, the smaller units have proven more popular, he said, underscoring the importance of affordability. But he said an 'encouraging' sign was that buyers were also going for units on higher floors, which are more expensive.

    'We are seeing a flight to quality,' he told The Straits Times. 'If the price is within their budget, they will gun for the better units and the higher floors.'

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    Yeah, a handful. Probably, one or two, sold to insane people.

    The developer needs to wake up and smell the coffee. There is a recession going on now.

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    Quote Originally Posted by beverly
    I was at the pre-launch last friday, a day before the official launch, and the price for a 3 bedder ( not the 3 bedder penthouse with pool ) is 740 psf at best. Developer refused to lower the price. Was told that they en-bloc the place at 480 psf thereabouts, and factoring in construction cost of bet 200-300 psf, no wonder they can't sell lower.
    There were cheques submitted but rejected by the developer.
    The agent kept asking me to try giving her a cheque for the unit i wanted, citing a 1% discount may be possible .. no way, 1% off is still over 700 psf.
    I was kinda interested in the 4bedroom (3rd level0 Block 21 or 23 (Can't remember all I know is one of the premium blocks) was quoted 833 psf. Thats 1.5million for a unit at Toh Tuck. Maintenance is around S$400.00 per month...so it got me thinking...lets say someone bought the unit, pays a 20% (300k) deposit and secure an 80% loan (3-yrs) from the bank. I calculated that he/she has to pay a monthly deposit around S$4.7k p/m + 400 thats 5.1k. Are Singaporeans that loaded to begin with?

    My 2.5cents

  4. #34
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    Quote Originally Posted by august
    friend went, said showroom completely crowded ~
    completely crowded. Yes, crowed with agents and people who went to see who are the morons that pay that kind of price for that kind of lousy housing.

    We visited the showflat on a weekend, and the traffic was so horrible that it took us forever to get out of that area and returned to west coast. Imagine how horrible the traffic will be in that area on a weekday. Heard that the bukit timah area is notorious for bad traffic.

  5. #35
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    Quote Originally Posted by fire
    I was kinda interested in the 4bedroom (3rd level0 Block 21 or 23 (Can't remember all I know is one of the premium blocks) was quoted 833 psf. Thats 1.5million for a unit at Toh Tuck. Maintenance is around S$400.00 per month...so it got me thinking...lets say someone bought the unit, pays a 20% (300k) deposit and secure an 80% loan (3-yrs) from the bank. I calculated that he/she has to pay a monthly deposit around S$4.7k p/m + 400 thats 5.1k. Are Singaporeans that loaded to begin with?

    My 2.5cents
    It does seem that a lot of graduate couple household have a combined income of at least $10k monthly (excl. bonus) after 5yrs of work (around 30yrs old).

    They might be stretching it at $10k mthly which is around 50% installment payment to income. But I am quoting the min. they get.. most get around $12k and above.. so that reduce it to 40% installment to income ratio.

    So , I am sure they are alot of couples who can afford it.. but it is totally dependent on their ability to have a job for 30yrs (and assuming their pay remains stagnant ..which is unlikely since they will move up the ladder).

  6. #36
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    http://www.businesstimes.com.sg/sub/...23391,00.html?

    Published March 13, 2009

    UOL sells 70 more units in Double Bay over weekend

    By UMA SHANKARI


    UOL Group and Kheng Leong sold about 70 units of their new Simei condominium Double Bay Residences over the past weekend - fewer than what it was aiming for, sources said.

    UOL said last Friday after it sold over 80 units on the first day of the project's soft launch that it expected to sell at least 200 units in all by the end of the weekend.

    But so far, the developers have sold about 150 apartments in the 646-unit project.

    Sources also said that prices are higher than what the developers had previously quoted.

    The companies said last Friday that units in the 99-year leasehold development will be sold for $600-650 per square foot (psf). However, BT understands that most of the units sold so far are either smaller apartments, and/or apartments on the higher floors - which means that they were sold for higher than average prices. For example, a one-bedroom apartment in the development sold for more than $800 psf, BT understands.

    UOL and Kheng Leong released 250 units during the soft launch over the weekend, and hundreds of people turned up at the showroom in Simei. The project will be officially launched on Saturday.

    One market observer said that the two developers could be pricing units higher to ensure a respectable profit margin. UOL and Kheng Leong paid some $296 psf per plot ratio for the site in January 2008.

    Elsewhere, boutique developer Hiap Hoe Group has sold just a few units of its 118-unit The Beverly at Toh Tuck Road since the project was soft-launched at the end of February.

    The units sold for an average price of $730-$740 psf, BT understands. Hiap Hoe released just 31 units in the project, and is aiming to sell enough homes to start construction.

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    With D5 FH (Carabelle, Botannia, etc...) recently all increased to $700++psf...I wonder why The Beverly still looks unattractive?

    Personally, I don't like the feeling of Beverly also...the deserted old units should be demolished first.

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    Quote Originally Posted by jonleelk
    With D5 FH (Carabelle, Botannia, etc...) recently all increased to $700++psf...I wonder why The Beverly still looks unattractive?

    Personally, I don't like the feeling of Beverly also...the deserted old units should be demolished first.
    where is BEVERLY ?

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    Quote Originally Posted by proud owner
    where is BEVERLY ?
    toh tuck ....

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    i was wondering since beverly is on a hill, why dont they call it beverly hills? maybe the project not luxurious enough to be called beverly hills.

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    Quote Originally Posted by august
    toh tuck ....
    if it is not so popular i would get its the location ...

    toh tuck is not convenient even for drivers ... jam jam jam

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    Quote Originally Posted by proud owner
    if it is not so popular i would get its the location ...

    toh tuck is not convenient even for drivers ... jam jam jam
    a grand total of 4 units have been sold after launch. joke of the century. after advertisements on ST. day after day.

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    where did you get the info? i am not surprised coz the developer did not downsize the units and the cheapest one in the development is at least 900k. most units are going for above 1 mil so who would want to buy a 1 mil property in d21 when they can get a 1 mil property in better districts near town.


    Quote Originally Posted by stalingrad
    a grand total of 4 units have been sold after launch. joke of the century. after advertisements on ST. day after day.

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    Quote Originally Posted by franzmark
    where did you get the info? i am not surprised coz the developer did not downsize the units and the cheapest one in the development is at least 900k. most units are going for above 1 mil so who would want to buy a 1 mil property in d21 when they can get a 1 mil property in better districts near town.
    aiyo ...

    in order to sell below 1 mio ...they have to build pigoen hole ... where got demand for such unit in those areas ?

    if all developers does that .. we wil have ntg but studio units eveywhere ...

    cannot lah ... it works for some area ..but not others ...

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    chicken coops are sprouting up everywhere even in jurong (caspian). I think developer for beverly did not do enuf homework.

    Quote Originally Posted by proud owner
    aiyo ...

    in order to sell below 1 mio ...they have to build pigoen hole ... where got demand for such unit in those areas ?

    if all developers does that .. we wil have ntg but studio units eveywhere ...

    cannot lah ... it works for some area ..but not others ...

  16. #46
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    Quote Originally Posted by franzmark
    where did you get the info? i am not surprised coz the developer did not downsize the units and the cheapest one in the development is at least 900k. most units are going for above 1 mil so who would want to buy a 1 mil property in d21 when they can get a 1 mil property in better districts near town.
    Just check the URA website. You will find how many units have been launched at each condo, and how many sold. I am not an agent, and I use public information.

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    Yup it's four under 'sold' .. at 755 739 823 (755 being the median)

    Think the school-box aka chicken-coup aka mickey-mouse aka barbie-doll unit size may work for some prime areas but not nec for all bah ... some pp going all the way to toh tuck may juz want some peace (else why pay 823psf??) ....
    Last edited by cheerful; 17-04-09 at 17:38.

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    Quote Originally Posted by jonleelk
    With D5 FH (Carabelle, Botannia, etc...) recently all increased to $700++psf...I wonder why The Beverly still looks unattractive?

    Personally, I don't like the feeling of Beverly also...the deserted old units should be demolished first.
    I believe Carabelle is more for the rental market, I have a collegue who is buying that for renting out purposes.

    One of the minus point about beverly is that it is 2 bus stop away from the main road - the first bus stop is near Green Lodge (after high oaks), and the next is the bus stop in front of beverly. Which means, it is still some distance to the future MRT, unlike what is claimed in the ST advertisement.

    Told hubby that I am not keen on Beverly anymore in that case, given that only 10% sold and I doubt the price will drop furthre given that the en bloc price was already 480 psf plus factoring in construction cost of 200-300 psf it's hard for them to lower the price unless they take a huge cut in profit margin or sell at loss ??

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    it is walkable to the main road frm beverly but i do not like the triangular shape of the entire project. The area is however very peaceful and conditioned for family living. With Pei Hwa and the Canadian Intl school and other amenities nearby, it is not a bad investment.
    Quote Originally Posted by beverly
    I believe Carabelle is more for the rental market, I have a collegue who is buying that for renting out purposes.

    One of the minus point about beverly is that it is 2 bus stop away from the main road - the first bus stop is near Green Lodge (after high oaks), and the next is the bus stop in front of beverly. Which means, it is still some distance to the future MRT, unlike what is claimed in the ST advertisement.

    Told hubby that I am not keen on Beverly anymore in that case, given that only 10% sold and I doubt the price will drop furthre given that the en bloc price was already 480 psf plus factoring in construction cost of 200-300 psf it's hard for them to lower the price unless they take a huge cut in profit margin or sell at loss ??

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    Quote Originally Posted by franzmark
    it is walkable to the main road frm beverly but i do not like the triangular shape of the entire project. The area is however very peaceful and conditioned for family living. With Pei Hwa and the Canadian Intl school and other amenities nearby, it is not a bad investment.
    Canadian school is moving away soon. The move was originally planned for August this year, but has been delayed because of the construction delay for its new campus in jurong east. But it will be moved within one year.

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    Quote Originally Posted by stalingrad
    Canadian school is moving away soon. The move was originally planned for August this year, but has been delayed because of the construction delay for its new campus in jurong east. But it will be moved within one year.
    I think the new campus is at jurong west, next to Lakeshore.

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    Quote Originally Posted by Autonomy
    I think the new campus is at jurong west, next to Lakeshore.
    so lets all chiong to west side ...

    then hor ... if expats move to west becos of canadian school ..then those who purchase tiny units like caspian ..rent to who ??

    better buy penthouse with at least 4 bedrooms ..

    if expat cant find those in Jurong..they will buy west coast in dist 5

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    Quote Originally Posted by Autonomy
    I think the new campus is at jurong west, next to Lakeshore.
    Yes it's next to Lakeshore but still a flat piece of dirt, like construction has stopped.

    CS were supposed to move this year, then planned for next year but i don't see how anybody can build a whole school from the ground up in one year.

    Once CS moves, then their old ground in Toh Tuck will surely be built on.

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    Quote Originally Posted by Snail
    Yes it's next to Lakeshore but still a flat piece of dirt, like construction has stopped.

    CS were supposed to move this year, then planned for next year but i don't see how anybody can build a whole school from the ground up in one year.

    Once CS moves, then their old ground in Toh Tuck will surely be built on.
    cebtral to east are getting ready congested ...west is still unexplored ..

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    i visited the showroom recently too and yes really dun like the feeling of the old places not fully take down yet...look so eery :P

    anyway, this place is out for me as it is quite inconvenient IMO

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    Went to the show room abt 1 mth ago too...didn't like the big balcony, inconvenience and the psf....overall, i will not consider buying at all..

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    big balcony open to unobstructed greenery view is okay, but big balcony open to the noisy swimming pool or main road is ridiculous..


    Quote Originally Posted by Cactus72
    Went to the show room abt 1 mth ago too...didn't like the big balcony, inconvenience and the psf....overall, i will not consider buying at all..

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    Quote Originally Posted by franzmark
    it is walkable to the main road frm beverly but i do not like the triangular shape of the entire project. The area is however very peaceful and conditioned for family living. With Pei Hwa and the Canadian Intl school and other amenities nearby, it is not a bad investment.
    Didn't notice the triangular shape of the project , you mean the land was triangular ? Is it bad ? I mean, if the land itself is triangular, there was Goodluck garden sitting on it for last 15-20 yrs.

    Saw the price drop a little, $720 psf for a 15++ sq ft.

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    Quote Originally Posted by beverly
    Didn't notice the triangular shape of the project , you mean the land was triangular ? Is it bad ? I mean, if the land itself is triangular, there was Goodluck garden sitting on it for last 15-20 yrs.

    Saw the price drop a little, $720 psf for a 15++ sq ft.
    I was in the showroom one month ago. There was a special promotion unit quoted $740 / SQF. Other units pricing ranges were above $800. With a plot ratio just 1.4, $740/sqf is quite attractive. However, the whole development looks crowed, one of the reasons could be the triangular shape. It makes some units so close to each other. There is no tennis court and short of garden space. My wife quite like the space of the bed rooms but find it a bit far remote. The agent told us is about 10 mins to future MRT station at Beautworld but i did a search of interest, the straight line distance is around 1km or around 20 mins walk.

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    Quote Originally Posted by HCL
    I was in the showroom one month ago. There was a special promotion unit quoted $740 / SQF. Other units pricing ranges were above $800. With a plot ratio just 1.4, $740/sqf is quite attractive. However, the whole development looks crowed, one of the reasons could be the triangular shape. It makes some units so close to each other. There is no tennis court and short of garden space. My wife quite like the space of the bed rooms but find it a bit far remote. The agent told us is about 10 mins to future MRT station at Beautworld but i did a search of interest, the straight line distance is around 1km or around 20 mins walk.
    the price i was given when they did a soft launch was 760 psf for a 13xx size.
    I like the space and the dry /wet kitchen concept. Maintenance is 380 i think. It is 2 bus stops away from the main road where high oak sits. first bus stop is located at greenlodge. not sure how long it takes to walk to the main road, but i will think not less than 5 mins. and from the main road to beauty world mrt, another 5 mins at least. 10 mins sounds about right.

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