Trilight (D11, Freehold, Ho Bee)

[Reporter]

Hong Kong luxury segment has already hit S$6,000 psf (HK$30,025 psf)
Let's see if Singapore CCR can catch up.

Singapore's CCR can only hit S$6,000 psf if the economy stage a V-shaped rrecovery.

Singapore economy grows 0.8%
Agence France-Presse
Singapore
Monday, 12 October 2009

Singapore's economy grew by an estimated 0.8% in the three months to September from a year ago, the first such growth in five quarters, the government said Monday.

While gross domestic product (GDP) will fall in 2009, the government amended its full-year 2009 forecast to a contraction of 2.0 to 2.5%, well below the previous estimate of negative 4.0 to 6.0%.

"A clear but modest recovery is underway globally, at least for the next three or four quarters," the ministry of trade and industry said in a statement.

The year-on-year expansion confirmed Singapore's recovery from the worst recession in its history, which began in the second quarter of 2008.

[andy]

can stroll on the road leading to the driveway, that's the largest plot of "facilities" if you exclude the pool. LOL. As Andy pointed out, as though the plot of land is not small enough, so much of it had to go to the road and the driveway.

Both Ho Bee and the 11th owner are so stupid not to have come to an agreement before.

Spent more money to go to high court and reroute the road/utilities?
Who is to going to rent or stay in the 11th apartment? Anyway 11 story apartment got free guardhouse and guards

This is what I call a you lose, I lose situation.

[andy]

don't think i'll be buying. with sentiment at new launches cooling, i think more opportunities to buy in resale market could come next year. (sellers become more realistic).

You mean resale market could take off next year? Why?

Nothing is moving now even for the pages and pages of adverts.

Think new sales still better.

[bargain hunter]

i feel that the gap between buyers and sellers' expectations could close next year with buyers willing to pay a bit more and sellers' asking willing to come down a bit. Precisely. Nothing is moving in resale market now and news reports are still calling the market hot. LOL.

You mean resale market could take off next year? Why?

Nothing is moving now even for the pages and pages of adverts.

Think new sales still better.

[Reporter]

bank's liquidity. consumer bank opens up all buyers can borrow. prices increases demand.

investor borrows more. unless u r type who puts alot of $$$d/p.

u i'm think can predict future from ur comments 2 all. forum is 2 share.

Looks like investors can continue to borrow more.
MAS is keeping its easy monetary policy.

Banks in focus after monetary policy and stronger-than-expected GDP growth
Harry Suhartono
Reuters
Singapore
Monday, 12 October 2009, 8:21am CCT

Singapore banks are likely to be in the spotlight on Monday after the central bank announced there would be no change in its easy policy stance and reported stronger-than-expected economic growth in the third quarter. U.S. stocks climbed on Friday, with the Dow hitting a closing high for 2009, as investors anticipated positive news from next week's key earnings reports and bullish broker comments boosted tech shares.

[richie$$$]

Will need very high floors to get good views. I feel Newton One, Trilight, R@E and the upcoming L'viv are going to block one another.

which condo in newton has clear views? pls share

[richie$$$]

i plan 2 buy a unit in newton n prepared to hv views blocked.
outside prime districts i c balestier/bishan/amk area also be havng tis blocked views soon.

so why there so much talk of tis? becos of blocked views in prime? if outside prime, no issue? any foreign investors here who can share whether they r particular abt blocked views. like tht orchard / cairnhill condos cant sell?

[moneyspinner]

i feel that the gap between buyers and sellers' expectations could close next year with buyers willing to pay a bit more and sellers' asking willing to come down a bit. Precisely. Nothing is moving in resale market now and news reports are still calling the market hot. LOL.

Think the near term future of the property market will depend on how the global economy and the STI perform. A bullish STI should free up more funds for diversification into properties.

[dtrax]

"Ho Bee executive director Ong Chong Hua described the outcome as 'reasonable'." <---meaning, our sales suck.

"Trilight's buyers were predominantly Singaporeans. Only three of the 36 units sold were bought by Singapore permanent residents.
There was even a US tourist couple visiting Singapore that picked up a unit." <---meaning, foreigners are not buying this project.

"As for the Singaporean buyers, Mr Ong said: 'They have private addresses, are generally over 40 years old, and discerning; they know what they want. They like the location - its proximity to Newton Hawker Centre and the MRT station.'" <---local buyers pay so much just to be near newton hawker centre and mrt station? if that's the case, they are better off buying heartland. This Ho Bee spokesperson doesn't know what he is talking about.

~$2m for 2bedders not cheap wor and somemore at D11, for that budget got so many options to hunt for 1 closer to orchard and furthermore most of purchase are still predominantly locals.

I like the report about the US tourist come and randomly buy one.. how I wish I can be like them next time haha

[richie$$$]

~$2m for 2bedders not cheap wor and somemore at D11, for that budget got so many options to hunt for 1 closer to orchard and furthermore most of purchase are still predominantly locals.

for tht price u hv options closer 2 orchard? new projects? where?

[andy]

for tht price u hv options closer 2 orchard? new projects? where?

Not new projects lah.......

tot u only wanted R@E, not new projects. You changed yr mind?

[richie$$$]

Not new projects lah.......

tot u only wanted R@E, not new projects. You changed yr mind?

1st priority = upside on capital gains
2nd priority = near to school
orchard will definitely b preferred 2 newton. newton will b preferred 2 novena n novena will b preferred 2 balestier, if i move along d scotts road, newton road, then novena junction then 2 balestier road.

prices r moving up fm d other side of d town due 2 mass mkt n prices fm orchard end shld readjust over time n push prices up fm orchard end to balestier end.

past yrs, foreign investors pushing prices fm orchard end.
tis few mths locals pushing fm d other end.

[andy]

1st priority = upside on capital gains
2nd priority = near to school
orchard will definitely b preferred 2 newton. newton will b preferred 2 novena n novena will b preferred 2 balestier, if i move along d scotts road, newton road, then novena junction then 2 balestier road.

prices r moving up fm d other side of d town due 2 mass mkt n prices fm orchard end shld readjust over time n push prices up fm orchard end to balestier end.

past yrs, foreign investors pushing prices fm orchard end.
tis few mths locals pushing fm d other end.

Yes you are learning fast.

But no lah I'm afraid you are approaching capital gains the wrong way. You need to think some more

[mr funny]

http://www.businesstimes.com.sg/sub/...54133,00.html?

Published October 12, 2009

Ho Bee sells 36 units of its Trilight condo

Majority of buyers, mainly S'poreans, opt for the 2-bedroom units

By KALPANA RASHIWALA


HO Bee Investment has sold 36 of the 60 units it previewed last Friday at its Trilight condo at Newton Road. The 30-storey freehold development is priced at an average of $1,650 psf.


The Newton Road address: Two-bedders cost between $1.82 million and $2.2 million, the three-bedroom units are priced at $3.5-3.65 million and four-bedders at around $4 million each

The apartments released cost around $2-4 million per unit and Ho Bee did not offer interest absorption scheme, which was scrapped under the Sept 14 measures announced by the government to cool the private residential property market.

Ho Bee executive director Ong Chong Hua described the outcome as 'reasonable'.

'We really could not ask for more, (with our preview) coming after the cooling measures,' he added.

'We've sold 36 units, but there are many others who are interested and checking on their financials,' Mr Ong said.

'This is not a normal shoebox apartment development,' he quipped, referring to the fact that Trilight does not have anything smaller than two-bedroom units, and even these are generously sized at between 1,109 sq ft and 1,227 sq ft.

The flipside of this strategy of having decent-sized units is that the lumpsum price per apartment is sizeable. The cheapest two-bedder at Trilight costs $1.82 million. It is on the development's fifth floor (the lowest level in the 30-storey condo).

Reflecting the fact that affordability remains an issue with buyers, the majority of Trilight's buyers picked up two-bedroom apartments. Twenty-six of the 32 two-bedders Ho Bee offered were taken up, along with eight of the 21 three-bedders and two of the seven four-bedroom apartments on offer.

While two-bedders cost between $1.82 million and $2.2 million, the three-bedroom units are priced at $3.5-3.65 million and four-bedders at around $4 million each.

Trilight's buyers were predominantly Singaporeans. Only three of the 36 units sold were bought by Singapore permanent residents.

There was even a US tourist couple visiting Singapore that picked up a unit.

As for the Singaporean buyers, Mr Ong said: 'They have private addresses, are generally over 40 years old, and discerning; they know what they want. They like the location - its proximity to Newton Hawker Centre and the MRT station.'

Trilight, a 205-unit development, comprises two-, three- and four-bedroom apartments and three penthouses.

The 60 units Ho Bee previewed last week did not include penthouses. Each unit in the development has a private lift.

The project is being marketed by CB Richard Ellis and DTZ.

Ho Bee is developing Trilight on the former Elmira Heights site, at the highest point in the Newton area.

[pweesng]

for tht price u hv options closer 2 orchard? new projects? where?

Of course there are...

Look at the RV area.. there are still properties trading below that price... i think Martin Place Residence is close to that price.. Waterford and Wharf Residence... are below that price.

disclaimer: i'm vested in one of the development...

[richie$$$]

Of course there are...

Look at the RV area.. there are still properties trading below that price... i think Martin Place Residence is close to that price.. Waterford and Wharf Residence... are below that price.

disclaimer: i'm vested in one of the development...

bt i'm looking at condos near Mrt. some1 say can get prices wthn orchard.

[richie$$$]

Yes you are learning fast.

But no lah I'm afraid you are approaching capital gains the wrong way. You need to think some more

i c my earlier comments summarizes d mkt.
bt u being a seller, how come dun sell? still waiting 2 c. tht d problem v buyers hv. sellers like u keep moving prices. sell lah.

[andy]

i c my earlier comments summarizes d mkt.
bt u being a seller, how come dun sell? still waiting 2 c. tht d problem v buyers hv. sellers like u keep moving prices. sell lah.

Like I said before, no one is looking at resale market

[moneyspinner]

Like I said before, no one is looking at resale market

Why is this so? Why does everybody wants to enrich the developers only? or Is there something wrong with the sellers in the resale market which put off the buyers? What sort of bull market is this if at all?

[andy]

Why is this so? Why does everybody wants to enrich the developers only? or Is there something wrong with the sellers in the resale market which put off the buyers? What sort of bull market is this if at all?

Sellers are looking @ replacement value. Buyers are only looking at specific quantum and delayed cashout

It's a qualitative bull market......

[pweesng]

Sellers are looking @ replacement value. Buyers are only looking at specific quantum and delayed cashout

It's a qualitative bull market......

I agree. This basically sums up the secondary market. sellers kept moving their price, because they priced it at replacement value.

"If I sell today, where else can I buy with the kind of money I will be getting..." My personal belief is that, I would like to leave some profit on the table for my buyer to take.

It I am priced at market price, unless I have a damn good unit, why would anyone want to buy from me? And if I have a damn good unit, I would be selling above market price. With this kind of mentality, seller either need to be very lucky and find a big sucker, or be prepared to hold it out.

Secondly, If I want to sell out at this area, obviously I have to be prepared to take some money off the table and downgrade in terms of size or location. If seller is looking for exact replacement value, why bother to sell? Might as well stay put.

In this sense, I personally felt that property players in Singapore are not as savvy as those you see in Hong Kong.

The fault does not all lies with seller. I have come across buyer, who is just simply offering ridiculous price. I had a buyer who offered me $10 bucks difference from what I was asking for. Even in absolute quantum, the difference is about $10k. Normally, I would have just given the discount. But the buyer gave me the crappiest excuse, I did not feel like backing down.

Apparently he said he found the dream apartment for him and his wife to stay. But they are very tight on cash, they could not afford to pay the extra $10 psf. The total quantum of the apartment was $1.6 million. What is another $10k, especially so if it is suppose to be the dream home!

So I thot I will help him save some money, and not sell it to him. And I dare to say, I was most probably the lowest asking price in the whole development...

my 2 cents worth.

[proud owner]

overseas investors find this cheap. US$1200psf 4 prime district.
tis makes difficult 4 locals like me 2 buy

are you sure ?

in manhattan with central park and hudson river view .. walk to rockefeller , broadway ...with all amenities ... is less than US1200 psf

and manhattan is definitely a better city than singapore ...

[andy]

I agree. This basically sums up the secondary market. sellers kept moving their price, because they priced it at replacement value.

"If I sell today, where else can I buy with the kind of money I will be getting..." My personal belief is that, I would like to leave some profit on the table for my buyer to take.

It I am priced at market price, unless I have a damn good unit, why would anyone want to buy from me? And if I have a damn good unit, I would be selling above market price. With this kind of mentality, seller either need to be very lucky and find a big sucker, or be prepared to hold it out.

Secondly, If I want to sell out at this area, obviously I have to be prepared to take some money off the table and downgrade in terms of size or location. If seller is looking for exact replacement value, why bother to sell? Might as well stay put.

In this sense, I personally felt that property players in Singapore are not as savvy as those you see in Hong Kong.

The fault does not all lies with seller. I have come across buyer, who is just simply offering ridiculous price. I had a buyer who offered me $10 bucks difference from what I was asking for. Even in absolute quantum, the difference is about $10k. Normally, I would have just given the discount. But the buyer gave me the crappiest excuse, I did not feel like backing down.

Apparently he said he found the dream apartment for him and his wife to stay. But they are very tight on cash, they could not afford to pay the extra $10 psf. The total quantum of the apartment was $1.6 million. What is another $10k, especially so if it is suppose to be the dream home!

So I thot I will help him save some money, and not sell it to him. And I dare to say, I was most probably the lowest asking price in the whole development...

my 2 cents worth.

You didn't sell cos of 10K. How much would you have made?

[Reporter]

sorry that's cheap.

it's already HK$75,000 psf, for this project: http://www.thecullinan.com.hk/

(SHK just raised price by 50% last month.)

S$15,000 psf (HK$75,000 psf)?
Err ... sorry, that's cheap too!

It's S$20,000 psf (HK$100,000 psf) now!!!!!!!!!!

Please visit the following website to view your dream(s):
http://www.39conduitroad.com.hk/index.html

[Reporter]

Newton One apartment hits $1,676 psf
The Edge
Monday, 26 October 2009

There was a flurry of activity in the Newton Road area, with five transactions of between $1,100 and $1,676 psf carried out from Sept 25 to Oct 2, according to caveats lodged with URA Realis. The highest psf transacted price for that week was seen at a 1,216 sq ft, 10th-floor apartment at Newton One — it was sold for $2.038 million or $1,676 psf. Another transaction that took place in the same tower was for a 21st-floor, 1,808 sq ft apartment that changed hands for $3.028 million ($1,675 psf).

Newton One, a 91-unit freehold luxury condominium project by Lippo Group, received its TOP just a few months ago. It was launched in mid- 2006 at $1,200 to $1,250 psf, which was considered a new price benchmark in the Newton area at a time when most developments there were fetching around $1,000 psf.

The two sellers at Newton One must be pretty pleased with their sale. The owner of the two-bedroom 1216 sqft apartment on the 10th floor purchased it from the developer in July 2006 for $1.36 million, or $1,122 psf. He enjoyed a 49% price appreciation from the transaction.

Meanwhile, the owner of the three-bedroom 1,808 sq ft apartment on the 21st floor who sold the unit at $1,675 psf, purchased it in a sub-sale in May 2007 for $2.72 million ($1,504 psf). The previous owner had purchased the unit during its launch in July 2006 for $2.235 million or $1,236 psf.

These transactions show that prices at Newton One are back to the boom levels seen two years ago. The highest price achieved in the project was when a 23rd-storey, 1,916 sq ft apartment changed hands in a sub-sale at $2,000 psf, or a quantum price of $3.832 million, in December 2007.

Owners at Newton One are probably benchmarking their asking prices to new launches in the neighbourhood. Right next door is Ho Bee Group’s Trilight, which started its private preview on Oct 9. To date, of the 60 units released, 51 have been sold at an average price of $1,650 psf. The 205-unit condo is expected to be completed in 2012.

Meanwhile, further down the road, joint-venture partners Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group previewed Lincoln Suites last Thursday. Fifty-six units will be released in the first phase, with prices starting from $1,680 psf. The project will contain a mix of units ranging from studio and one-bedroom apartments to duplexes and penthouses.

Older developments in the vicinity, however, have not quite crossed the $1,600 psf level. Just a few doors from Newton One is Newton Euro Asia, a freehold condo by Euro-Asia Realty completed in 2004. A 1184 sqft apartment on the 12th floor changed hands at $1.48 million ($1,250 psf) in a resale. The seller had bought the unit in June for $1.28 million ($1,081 psf), hence flipping the property for a 16% gain in just four months.

Across the road is Newton 18, an 81-unit freehold luxury condo project by Wing Tai Holdings completed five years ago. The most recent caveat showed that an apartment on the 28th floor of the 30-storey condo was sold for $1.38 million, or $1,491 psf. The highest transacted price psf in the development was for an 807 sq ft, ninth-floor apartment — it was sold for $1.32 million, or $1,635 sq ft, in November 2007.

Wing Tai’s other project (next door to Newton 18) is the 99-year leasehold, 311-unit Amaryllis Ville, which was also completed five years ago. The most recent transaction in the development was for a fifth-floor unit that was sold for $1.36 million or $1,100 psf. The previous owner had purchased the 1,238 sq ft two-bedroom apartment in March 2007 for $1.28 million ($1,030 psf).

So, it looks like the new high-end developments in the Newton area are testing new price levels. Residences@Evelyn, a freehold luxury 208-unit l condo located on the quiet and exclusive Evelyn Road, just off Newton Road, saw a 28th-floor apartment in one of the twin towers changing hands at $1.88 million or $1,650 psf. The 1,141 sq ft apartment was first bought in October 2006 for $1.45 million or $1,280 psf. But, Newton One, being the newest condo on the block, is able to command a slight premium for now.

[Reporter]

Ho Bee and MCL sell 51 units at Parvis
Kalpana Rashiwala
The Business Times
Tuesday, 10 November 2009

Ho Bee Investment and MCL Land last week sold 51 units at their Parvis condo at Holland Hill at an average price of about $1,480 psf.

Unlike the recent trend of smallest units in a project selling out first, what happened at Parvis was quite the reverse, with 4-bedroom apartments accounting for the most number of units sold – 19. This was followed by two-bedders (15 units) and three-bedders (14 units).

MCL and Ho Bee even sold 3 penthouses in response to buyer interest, although these were not part of the initial batch of 85 units they released for the preview.

They are now proceeding to do an official launch of the project at the weekend, when they will release more units in the freehold condo, which has a total of 248 units. The 12-storey project is being built on the former Holland Hill Mansions site.

Ho Bee general manager Chong Hock Chang revealed that ex-owners of Holland Hill Mansions had picked up 7 apartments.

Singaporeans bought 39 of the 51 units sold. Permanent residents and foreigners acquired the remaining 12 units; they were mostly Malaysians, with some Indonesians, Mr Chong added.

The three penthouses sold comprise two single-level units of 2,300 sqft each, with three bedrooms and costing about $3.3 million apiece, and a 2,800-sqft duplex unit with four bedrooms, priced at about $4.1 million. The duplex was picked up by a foreigner while Singaporeans bought the two single-level penthouses.



Last month, Ho Bee released the freehold Trilight condo on Newton Road. To date, it has sold 61 units in the 30-storey project at an average price of $1,650 psf.

[bargain hunter]

hmm, after selling 36 units in the first weekend, only 25 units sold in the past 1 month...

Ho Bee and MCL sell 51 units at Parvis
Kalpana Rashiwala
The Business Times
Tuesday, 10 November 2009

Ho Bee Investment and MCL Land last week sold 51 units at their Parvis condo at Holland Hill at an average price of about $1,480 psf.

Unlike the recent trend of smallest units in a project selling out first, what happened at Parvis was quite the reverse, with 4-bedroom apartments accounting for the most number of units sold – 19. This was followed by two-bedders (15 units) and three-bedders (14 units).

MCL and Ho Bee even sold 3 penthouses in response to buyer interest, although these were not part of the initial batch of 85 units they released for the preview.

They are now proceeding to do an official launch of the project at the weekend, when they will release more units in the freehold condo, which has a total of 248 units. The 12-storey project is being built on the former Holland Hill Mansions site.

Ho Bee general manager Chong Hock Chang revealed that ex-owners of Holland Hill Mansions had picked up 7 apartments.

Singaporeans bought 39 of the 51 units sold. Permanent residents and foreigners acquired the remaining 12 units; they were mostly Malaysians, with some Indonesians, Mr Chong added.

The three penthouses sold comprise two single-level units of 2,300 sqft each, with three bedrooms and costing about $3.3 million apiece, and a 2,800-sqft duplex unit with four bedrooms, priced at about $4.1 million. The duplex was picked up by a foreigner while Singaporeans bought the two single-level penthouses.



Last month, Ho Bee released the freehold Trilight condo on Newton Road. To date, it has sold 61 units in the 30-storey project at an average price of $1,650 psf.

[Reporter]

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
Trilight .............. CCR ........ 58 ............................ 58 .............................. 1,836 ............ 1,684 ............ 1,639

$1,836 psf is definitely a good start for Trilight.

[Reporter]

Private Residential Units Sold in the Month of November 2009

Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Trilight .............. CCR ........ 66 ............................ 9 ................................ 1,747 ............ 1,649 ............ 1,639

Too bad! Didn't managed to break launch's high of $1,836 psf.

[Reporter]

Private Residential Units Sold in the Month of December 2009

Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Trilight ............ CCR ....... 73 ........................ 7 ........................... 1,842 ........... 1,769 ........... 1,704

Wow!
Trilight has set a new high of $1,842 psf.
Amazing, isn't it?