View Poll Results: Will Rivergate hit 1k psf ?

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Thread: Will Rivergate hit 1k psf and below?

  1. #1
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    Default Will Rivergate hit 1k psf and below?

    interested in RG but my budget is only max 1k psf ... would like to seek the opinion of the lao jiaos here ... in your opinion, do you think RG will hit 1k psf or below?
    i see that there are > 160 units on sale and > 320 units for rent atm.. will the price hold at the current avg 1.2k~1.3k level?

  2. #2
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    Default Tan kuku

    Quote Originally Posted by firestarter
    interested in RG but my budget is only max 1k psf ... would like to seek the opinion of the lao jiaos here ... in your opinion, do you think RG will hit 1k psf or below?
    i see that there are > 160 units on sale and > 320 units for rent atm.. will the price hold at the current avg 1.2k~1.3k level?

    $1000psf, yes tan ku-ku

  3. #3
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    I think it will very much depends on the profile of all the current buyers of Rivergate. If one of afew of them starts to lose their job and unable to tahan, they will probably let it go at below 1k, this is really bopian. I noticed some of the projects at D5 with very few sellers are still holding their psf despite the downturn. As such, u will need to wait to see if any seller is desperate to let it go at leylong prices.

  4. #4
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    Default

    Quote Originally Posted by teresa
    I think it will very much depends on the profile of all the current buyers of Rivergate. If one of afew of them starts to lose their job and unable to tahan, they will probably let it go at below 1k, this is really bopian. I noticed some of the projects at D5 with very few sellers are still holding their psf despite the downturn. As such, u will need to wait to see if any seller is desperate to let it go at leylong prices.

    Just becos one of the Indo owner sold his four seasons unit to his friend at $1200psf during the Asian Crisis, thus that meant the valuation has gone down to $1200psf and the rest of the owners have to follow?
    Check the caveat!! You are right very much depends on the profile of owners.

  5. #5
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    Default What I heard...

    What I heard from a property agent is that later this year there maybe a few fire sales for Rivergate.

    At what price? That will depend on your luck and negotiation skills.

  6. #6
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    Default

    Quote Originally Posted by Bishan Kid
    Just becos one of the Indo owner sold his four seasons unit to his friend at $1200psf during the Asian Crisis, thus that meant the valuation has gone down to $1200psf and the rest of the owners have to follow?
    Check the caveat!! You are right very much depends on the profile of owners.
    unfortunately, banks do base a little on 'last transactions' when they give valuation, and subsequently the loan ...

    if you read todays article on the Fernhill project, where buyer delayed in payment ... something was mentioned that there is a risk if developer repossess the units and sell .. whihc they may sell above cost, but lower than market .. and neighbouring projects RISK BEING DRAGGED DOWN

  7. #7
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    There is possibility, Apr transaction for RG range between $11XX psf for larger units to $13XX psf

    On a sidenote, Watermark hit below $1k psf in Apr:

    5 Rodyk Street #03-27
    Freehold
    $930psf
    1012
    $941k
    06 Apr 09

  8. #8
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    Default

    Quote Originally Posted by dtrax
    interested in RG but my budget is only max 1k psf ... would like to seek the opinion of the lao jiaos here ... in your opinion, do you think RG will hit 1k psf or below?
    i see that there are > 160 units on sale and > 320 units for rent atm.. will the price hold at the current avg 1.2k~1.3k level?

    Possible to be below $1K. But that will not be many units. And you will not be the "lucky" one... Imagine how many will want to buy RG below $1K? Mostly likely there are already a few offering at $1050psf instead of $1K...

  9. #9
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    Looking at situation 1 month ago and now $1000psf and below is higly possible. Had been watching a few similar projects in the area and some at the fringe. RG psf profile is quite the same as The SeaView ie. 1k to 1.5k psf at the peak, the latest transaction in TSV is $900 psf,,, so got chance liao as rest of Q2 and Q3 is expected to be worst and thats also where lots of expats with kids finished exam here and going home... have to be for a little while more...

  10. #10
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    Default

    Quote Originally Posted by dtrax
    There is possibility, Apr transaction for RG range between $11XX psf for larger units to $13XX psf

    On a sidenote, Watermark hit below $1k psf in Apr:

    5 Rodyk Street #03-27
    Freehold
    $930psf
    1012
    $941k
    06 Apr 09
    not surprising. it is such a screwed project from the start. it is in the middle of nowhere, no views, ugly building, no nothing, plus there are so many condos to choose from in the area including the 500+ units Rivergate. Plus some more new ones already launched and not selling well.

    the commercial units on the ground floor will not be as happening as those at The Pier. There is a reason why The Pier is transacting at far higher prices than this Watermark, although both are from practically the same developer CDL/Hong Leong.

  11. #11
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    Talking

    Looking at the exterior of River Gate, it is not the most aesthetically appealing along the River Valley stretch. Saw a few units and found the internal fittings & finishing not really up to scratch. It has to be priced real attractive for me to consider.

    Anyone knows how is the rental market going for that devt ?

    I saw a few caveats registered in Mar on the URA website. Can anyone advice me the lag time between transaction till it gets registered ? Does it show me all the realised transactions or can some transactions occur without it appearing on the website ? Any Shifu out there who can enlighten me ?

  12. #12
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    Default

    Quote Originally Posted by Tumi
    Looking at the exterior of River Gate, it is not the most aesthetically appealing along the River Valley stretch. Saw a few units and found the internal fittings & finishing not really up to scratch. It has to be priced real attractive for me to consider.

    Anyone knows how is the rental market going for that devt ?

    I saw a few caveats registered in Mar on the URA website. Can anyone advice me the lag time between transaction till it gets registered ? Does it show me all the realised transactions or can some transactions occur without it appearing on the website ? Any Shifu out there who can enlighten me ?
    I'm not a shifu, but from my experience:
    - typically caveats are lodged by the bank about 2-3 weeks before completion. A typical lag is about 4-6 weeks from option. In extreme cases, a person can buy today, have a 2 month exercise period, and complete in another 2 months after.
    - as caveats are only lodged if a counterparty has a claim on the property, cash purchases are mostly out of the system, and so are DPS until bank loan obtained.

  13. #13
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    Default

    Quote Originally Posted by gfoo
    I'm not a shifu, but from my experience:
    - typically caveats are lodged by the bank about 2-3 weeks before completion. A typical lag is about 4-6 weeks from option. In extreme cases, a person can buy today, have a 2 month exercise period, and complete in another 2 months after.
    - as caveats are only lodged if a counterparty has a claim on the property, cash purchases are mostly out of the system, and so are DPS until bank loan obtained.
    Since the typical lag is about 4 - 6 weeks, given such pricing falling market, if we saw the transaction in URA is $990 psf (for example), the actual current market price should be lower than that 999 psf already, right?

    so we can always try our luck to offer slightly lower than the latest URA price? say $900 psf (since 6 weeks ago already dropped to 999 already?)

  14. #14
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    in a falling market yes. but it also depends on which areas. for example mine dunno how come all of sudden in april it went up to $1350 with a spike to $1700. And all of sudden agents are calling me saying they have $13xx/14xx chqs in hand for my property. True or not i dun really care coz i'm busy with work and reno.

    i think that if you are buying for own stay, benchmark your prices to 2006 or launch levels. from ALL reports i have read, many places like one amber are still overpriced. RG seems a little better but i am not tracking it any longer. For the same money, i would wait out for more units at mbay. (i'm kinda addicted to that area liao. it's one of the very few areas where i can wear my pajamas go basement 7-11 buy coffee and ciggies, and indulge in those SYT OLs walking from mrt to work at ORQ and feel right at home )

    Quote Originally Posted by East Lover
    Since the typical lag is about 4 - 6 weeks, given such pricing falling market, if we saw the transaction in URA is $990 psf (for example), the actual current market price should be lower than that 999 psf already, right?

    so we can always try our luck to offer slightly lower than the latest URA price? say $900 psf (since 6 weeks ago already dropped to 999 already?)

  15. #15
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    Default

    Quote Originally Posted by gfoo
    in a falling market yes. but it also depends on which areas. for example mine dunno how come all of sudden in april it went up to $1350 with a spike to $1700. And all of sudden agents are calling me saying they have $13xx/14xx chqs in hand for my property. True or not i dun really care coz i'm busy with work and reno.

    i think that if you are buying for own stay, benchmark your prices to 2006 or launch levels. from ALL reports i have read, many places like one amber are still overpriced. RG seems a little better but i am not tracking it any longer. For the same money, i would wait out for more units at mbay. (i'm kinda addicted to that area liao. it's one of the very few areas where i can wear my pajamas go basement 7-11 buy coffee and ciggies, and indulge in those SYT OLs walking from mrt to work at ORQ and feel right at home )
    a) typical agents' fishing tactic. i also kenna agent telling me got foreign buyer ready to offer $xxxx psf, etc etc want me to disturb my tenant so that the buyer can view the property. i believe that, yes, there are buyers, but impossible at that $xxxx psf price.

    b) you not scared the SYT OL think you're some kind of construction worker from china? wait bump into your colleague or people you know... paiseh man....

  16. #16
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    Default

    Quote Originally Posted by gfoo
    in a falling market yes. but it also depends on which areas. for example mine dunno how come all of sudden in april it went up to $1350 with a spike to $1700. And all of sudden agents are calling me saying they have $13xx/14xx chqs in hand for my property. True or not i dun really care coz i'm busy with work and reno.

    i think that if you are buying for own stay, benchmark your prices to 2006 or launch levels. from ALL reports i have read, many places like one amber are still overpriced. RG seems a little better but i am not tracking it any longer. For the same money, i would wait out for more units at mbay. (i'm kinda addicted to that area liao. it's one of the very few areas where i can wear my pajamas go basement 7-11 buy coffee and ciggies, and indulge in those SYT OLs walking from mrt to work at ORQ and feel right at home )
    Seems resale price going towards to 2006 price... see this waterside FH @ D15, no much transaction. last year is 1278 psf, 6 mth later drop to almost half!

    Maybe forget about the over priced new D15 FH such as the Esta or One Amber or the Seaview... finally got D15 FH dropped to $7xx psf!
    ******
    THE WATERSIDE 1,560,000 2,142 728 Mar-09
    THE WATERSIDE 1,680,000 2,142 784 Mar-09
    THE WATERSIDE 1,725,000 2,174 793 Feb-09
    THE WATERSIDE 3,068,000 2,400 1,278 Sep-08
    THE WATERSIDE 2,180,000 2,142 1,018 Jul-08
    THE WATERSIDE 2,600,000 2,142 1,214 May-08

  17. #17
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    Quote Originally Posted by Lord Anus
    a) typical agents' fishing tactic. i also kenna agent telling me got foreign buyer ready to offer $xxxx psf, etc etc want me to disturb my tenant so that the buyer can view the property. i believe that, yes, there are buyers, but impossible at that $xxxx psf price.

    b) you not scared the SYT OL think you're some kind of construction worker from china? wait bump into your colleague or people you know... paiseh man....
    Lol, i think they prob will think i'm some perv holding a kopi , somemore got morning mari kita. I'm lau liao lah, dun really care what others think.

  18. #18
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    Quote Originally Posted by East Lover
    Seems resale price going towards to 2006 price... see this waterside FH @ D15, no much transaction. last year is 1278 psf, 6 mth later drop to almost half!

    Maybe forget about the over priced new D15 FH such as the Esta or One Amber or the Seaview... finally got D15 FH dropped to $7xx psf!
    ******
    THE WATERSIDE 1,560,000 2,142 728 Mar-09
    THE WATERSIDE 1,680,000 2,142 784 Mar-09
    THE WATERSIDE 1,725,000 2,174 793 Feb-09
    THE WATERSIDE 3,068,000 2,400 1,278 Sep-08
    THE WATERSIDE 2,180,000 2,142 1,018 Jul-08
    THE WATERSIDE 2,600,000 2,142 1,214 May-08
    waterside is a really crap project lor - i thought it was some abandoned warehouse. the whole area is dead as well

  19. #19
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    Quote Originally Posted by gfoo
    Lol, i think they prob will think i'm some perv holding a kopi , somemore got morning mari kita. I'm lau liao lah, dun really care what others think.
    Haha... You lau liao... Then people most likely think that you are lau tiko lor...

  20. #20
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    Quote Originally Posted by vin002
    Haha... You lau liao... Then people most likely think that you are lau tiko lor...
    sorry, i AM a lau tiko lor, and proud of it!

  21. #21
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    Default

    Quote Originally Posted by East Lover
    Since the typical lag is about 4 - 6 weeks, given such pricing falling market, if we saw the transaction in URA is $990 psf (for example), the actual current market price should be lower than that 999 psf already, right?

    so we can always try our luck to offer slightly lower than the latest URA price? say $900 psf (since 6 weeks ago already dropped to 999 already?)
    I am tracking several singapore properties since 2006. One of the extreme cases I have seen, was a penthouse unit at 11 amber. It was on the market for over a year asking for 3.5 million. Last month it was listed at 2.6 million. It sold finally for 2.3 million.

    Make an offer to agents at which you think the price is fair, and wait for it to drop to those levels.

  22. #22
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    Quote Originally Posted by kalumder
    I am tracking several singapore properties since 2006. One of the extreme cases I have seen, was a penthouse unit at 11 amber. It was on the market for over a year asking for 3.5 million. Last month it was listed at 2.6 million. It sold finally for 2.3 million.

    Make an offer to agents at which you think the price is fair, and wait for it to drop to those levels.
    So do your several properties close to 2006 level yet? or still at early 2007 pricing?

  23. #23
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    Quote Originally Posted by East Lover
    So do your several properties close to 2006 level yet? or still at early 2007 pricing?
    some are, some are not. It is hard to tell what the real asking price is. Nobody is going to list the unit with a offer at which they are willing to sell at. So you have to make an offer, wait and find out.

    I cannot tell you what the prices during 2006 where, because already then I knew prices where inflated! that is why I followed and have not bought, yet. 2006 prices have no bearing on my purchase decisions.

  24. #24
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    Quote Originally Posted by kalumder
    some are, some are not. It is hard to tell what the real asking price is. Nobody is going to list the unit with a offer at which they are willing to sell at. So you have to make an offer, wait and find out.

    I cannot tell you what the prices during 2006 where, because already then I knew prices where inflated! that is why I followed and have not bought, yet. 2006 prices have no bearing on my purchase decisions.
    iProperty and PropertyGuru, which asking price is more closer to the actual possible deal price?

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    Quote Originally Posted by East Lover
    iProperty and PropertyGuru, which asking price is more closer to the actual possible deal price?
    does not matter. You will see the same unit/landed pop on propertyguru several times over the weeks sometimes with different asking prices. Different agents often trying to sell the same unit.

    If you want to see what a unit is really worth look at the rental market on propertyguru/iproperty (Remember though that asking prices for rent can be negotiated down 10-20% in the current market). For me, a unit which would get 6000$ a month rent, should cost around 1.5million. This would get me 4% net return on my investment. If you are buying for own stay, than you might have other criteria than price (value for money, is maybe not as important).

  26. #26
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    Now some crap are talking about RG going below 1k. HDB upgraders now so rich? Can afford to jump to 1k instead of 600psf?

  27. #27
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    No great deal to some people here as they even saying that RG may drop to $600 psf! Ops! If this happen, some buyers will have to jump from the 43th floor!

    Quote Originally Posted by Property_Owner
    Now some crap are talking about RG going below 1k. HDB upgraders now so rich? Can afford to jump to 1k instead of 600psf?

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    Quote Originally Posted by teddybear
    No great deal to some people here as they even saying that RG may drop to $600 psf! Ops! If this happen, some buyers will have to jump from the 43th floor!
    LOL, if RG sells at 600psf. The jump will start from Caspian to Livia.

  29. #29
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    Hi guys, im see RG ave psf rising close to $1500psf
    I see majority polled below 1k. Something is wrong somewhere. But i do note that no transection yet for
    April. why? why?

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    Quote Originally Posted by rogerang
    Hi guys, im see RG ave psf rising close to $1500psf
    I see majority polled below 1k. Something is wrong somewhere. But i do note that no transection yet for
    April. why? why?
    Gap in expectations between sellers and buyers too wide? I know this is obvious but it's the simple answer.

    in middle of the worst recession in 60 years I dont believe buyers have an pressure to jump into the market. They wont go bankrupt holding onto their money. The pressure will be very much on the weak holders who will eventually determine the price.

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