So seller at 23-09 laughing all the way to bank and despo buyer for this unit bot not knowing he tio carrothead?Originally Posted by bargain hunter
No chance
Maybe
Highly likely
Confirm + Chop !!!
So seller at 23-09 laughing all the way to bank and despo buyer for this unit bot not knowing he tio carrothead?Originally Posted by bargain hunter
maybe buyer compared with lippo 22-09 also asking 1520 and he said, hey 23-09 better buy, i may as well get this one. #23 got one big sky garden above stack 07 which ends at #22 mah.
don't say carrothead lah, look out for more 1500 to 1560psf deals done by lippo for stack 6 to 10 in the weeks to come. then it becomes "normal". valuation can match. whatever you call it.
Originally Posted by dtrax
ya carrothead is very subjective since the prices in RG are holding quite well.. but as compared to the similar transactions for the month, it is considered overpaid.. though i can attest view form stack 9 > $20 is consider very gdOriginally Posted by bargain hunter
yeah, my picks are stack 9, 5 (impossibly ex) and 10 (4 bedroom). but all out of reach already.
Originally Posted by dtrax
for homestay or investment?Originally Posted by bargain hunter
both i guess. i wouldn't buy a unit i would not feel like staying in for investment anyway.
Originally Posted by dtrax
how are u able to tell the unit number from the caveat? from the ura site, there are no details.Originally Posted by dtrax
pay up ..and your see alot more detailOriginally Posted by qus
dtrax, or anyone else able to see, can help out? i am curious what are the unit numbers for the most expensive Lippo units whose caveats just shown up today.
$2,878,880 1894sq ft 1520psf Jun-09
$3,059,500 2110sq ft 1450psf May-09
$2,944,080 2088sq ft 1410psf Jun-09
$2,923,200 2088sq ft 1400psf Jun-09
and the oddly low:
$2,214,880 1744sq ft 1270psf Jun-09
Interesting because Lippo units said to be sold between 1380psf to 1560psf but if the low prices hit are Lippo units means that prices were negotiable afterall.
Originally Posted by dtrax
btw, the seller of 27-09 bought at 1150 in march! made a cool 400k within 2 months. explains why he would sell at 1400psf when 23-09 paid 1520psf.
Originally Posted by dtrax
fortune favours the brave..
Originally Posted by bargain hunter
$2,878,880 1894sq ft 1520psf Jun-09 - #28-10 - Lippo (SW facing)
$3,059,500 2110sq ft 1450psf May-09 - #20-08 - Lippo (SW facing)
$2,944,080 2088sq ft 1410psf Jun-09 - #08-06 - Lippo (NW facing)
$2,923,200 2088sq ft 1400psf Jun-09 - #16-06 - Lippo (NW facing)
and the oddly low:
$2,214,880 1744sq ft 1270psf Jun-09 - #10-09 - Lippo (NE facing)
- this one also lippo's unit but on firesale???
that means can bargain and those who did not have been conned by lippo!
Originally Posted by dtrax
unit with bad view?
#10-09 is fine. Not fantastic but at least a open view. Since Lippo units were reported to be on sale FROM 1380 to 1560psf, 1270psf looks like it was achieved after the buyer made the lower bid instead of taking Lippo's asking price. That means actually Lippo's units asking price are quite negotiable and those who bought at their asking prices have been conned.
Originally Posted by qus
no one has been conned lah... it's a case of willing buyer and willing seller. Do remember that sellers are not obliged to give the buyers the best price, neither is the buyer obliged to pay the highest price possible in the market...Originally Posted by bargain hunter
well, this is an institutional seller (as opposed to individuals) and agents (some of whom i spoke to personally) said prices were not negotiable but it is turning out to be negotiable afterall. So I was just feeling for the buyers who paid the asking price thinking that its not negotiable. If I'm them, I would feel conned.
Originally Posted by pweesng
Well then it is the agents that were conning people. Coz AFAIK, the seller had never insisted on the fact that selling price are non-negotiatiable. In any case, no offense intended. If i want to sell you something, and then i told you the price is non-negotiable and you agreed on it, and we do the deal. After a few days, i decided to sell another unit slightly cheaper.... you also cannot call me a con man mah... hahaha...Originally Posted by bargain hunter
yeah, that's true. But an experienced and trusted agent i spoke too said he was also initially led to believe that the prices by Lippo were non-negotiable. It was only later that he found out that they in fact were. No choice, property is like that, there are always people with more privileged info.
Originally Posted by pweesng
can see the next series of caveats out tomorrow.. is it confirmed that was a lippo unit?
yeah, all the even floors of block 97 (ie stacks 6,7,8,9,10) formerly owned by Lippo.
Originally Posted by qus
heard that things have gone all quiet at rivergate. no more agents camping there. few transactions done since the 2nd half of last month. those serious sellers have joined lippo in selling at 13xx to 15xx. those ask for the sky sellers have raised their asking prices to 1600psf and above but no one is biting. stalemate is back.
not realistic one lor.. how many own stayers can there be?Originally Posted by bargain hunter
as long as rental yield continue at current lvl or slide, makes no sense for investors to match such asking prices ..
Right, too expensive to stay lor. If no tenant, really don't know how to service the loan every month.Originally Posted by august
The sky high prices is unfortunate, particularly for myself whom have a vested interest in procuring a unit there.Originally Posted by bargain hunter
This said, I personally believe the current stalemate is a result of demand-supply. Given the existing owners are asking for such prices and considering they have not been able to sell their units (I assumed this is the case) and there is no sign of reduction on owners part... could it also mean the owners are not keen to sell and prepare to hold. My view is that, in an efficient dynamic market, demand supply forces will always drive prices down, IF owners are looking to sell.
If my presumption of owners are indeed not looking to sell is correct, any views on why that might be so ?
1. They are looking for the upturn to happen for a high priced flip later?
2. Owners whom are asking for such prices are those whom have been extremely successful at the rental market and thus asking for a match sale price to match the high rental they managed to secure?
On a side note, does anyone know whats the occupancy level is like in Rivergate ? All non-homestay units are all successfully rented out at sustainable yield levels ?
Singapore is only RECOVERING now not RECOVERED. People now is paying recovered price. WHY, WHY,WHY....Prices now is selling at end 2007 and early 2008 when the economy is at it peak before it slump in oct 2008. It's still a long way to go before the real economy pick up.Originally Posted by DW
Owners and developers can only ask for recovering price not recovered price.
These people scare miss the boat mah. Scarely the boat capsized and have to be turned around to start all over again.
Originally Posted by Honesty
They are waiting for IR to openOriginally Posted by DW
IR open means property prices will go up? Scarely a lot of these people gamble until bankcrupt and come out to sell their properties at fire-sale prices?
Originally Posted by jitkiat
May b may b not ... depends but since it is only less than 1 year ... I guess they can at least gamble on this one first lohOriginally Posted by teddybear