Singapore's CCR can only hit S$6,000 psf if the economy stage a V-shaped rrecovery.Originally Posted by Reporter
Originally Posted by AFP
Singapore's CCR can only hit S$6,000 psf if the economy stage a V-shaped rrecovery.Originally Posted by Reporter
Originally Posted by AFP
Both Ho Bee and the 11th owner are so stupid not to have come to an agreement before.Originally Posted by bargain hunter
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.
You mean resale market could take off next year? Why?Originally Posted by bargain hunter
Nothing is moving now even for the pages and pages of adverts.
Think new sales still better.
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.
Originally Posted by andy
Looks like investors can continue to borrow more.Originally Posted by richie$$$
MAS is keeping its easy monetary policy.
Originally Posted by Reuters
which condo in newton has clear views? pls shareOriginally Posted by bargain hunter
i plan 2 buy a unit in newton n prepared to hv views blocked.
outside prime districts i c balestier/bishan/amk area also be havng tis blocked views soon.
so why there so much talk of tis? becos of blocked views in prime? if outside prime, no issue? any foreign investors here who can share whether they r particular abt blocked views. like tht orchard / cairnhill condos cant sell?
Think the near term future of the property market will depend on how the global economy and the STI perform. A bullish STI should free up more funds for diversification into properties.Originally Posted by bargain hunter
~$2m for 2bedders not cheap wor and somemore at D11, for that budget got so many options to hunt for 1 closer to orchard and furthermore most of purchase are still predominantly locals.Originally Posted by bargain hunter
I like the report about the US tourist come and randomly buy one.. how I wish I can be like them next time haha
for tht price u hv options closer 2 orchard? new projects? where?Originally Posted by dtrax
Not new projects lah.......Originally Posted by richie$$$
tot u only wanted R@E, not new projects. You changed yr mind?
1st priority = upside on capital gainsOriginally Posted by andy
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.Originally Posted by richie$$$
But no lah I'm afraid you are approaching capital gains the wrong way. You need to think some more
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.
Of course there are...Originally Posted by richie$$$
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.Originally Posted by pweesng
i c my earlier comments summarizes d mkt.Originally Posted by andy
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 marketOriginally Posted by richie$$$
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?Originally Posted by andy
Sellers are looking @ replacement value. Buyers are only looking at specific quantum and delayed cashoutOriginally Posted by moneyspinner
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.Originally Posted by andy
"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.
are you sure ?Originally Posted by richie$$$
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 ...
You didn't sell cos of 10K. How much would you have made?Originally Posted by pweesng
S$15,000 psf (HK$75,000 psf)?Originally Posted by amk
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
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.
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.
hmm, after selling 36 units in the first weekend, only 25 units sold in the past 1 month...
Originally Posted by Reporter
$1,836 psf is definitely a good start for Trilight.Originally Posted by URA
Too bad! Didn't managed to break launch's high of $1,836 psf.Originally Posted by URA
Wow!Originally Posted by URA
Trilight has set a new high of $1,842 psf.
Amazing, isn't it?