crowdedis one thing....its way over priced especially if you are paying $1500psf and higher for district 15...
Newbie
crowdedis one thing....its way over priced especially if you are paying $1500psf and higher for district 15...
F01 N54 Sheer Driving Pleasure
You've worried too much!Originally Posted by luzman, 1 March 2010 11.15 pm
D15's high of $3,000 psf is still much lower than D9's high of $5,262 psf, D10's high of $5,600 psf, D1's high of $3,800 psf and D4's high of $3,429 psf.
Newbie
let's qualify when we talked about peak prices...for district 15 peak, it is mainly in Meyer road area...for Amber, we will probably not see this kind of prices...here,we are talking about One amber which is in the amber area...to expect $1500psf in a few months time..i doubt so which is my original tread...
I believe you can get far better location for $1500psf...
F01 N54 Sheer Driving Pleasure
You have a point. Meyer is not Amber. We should restrict to just Amber here.
Amber's Silversea high of $1,886 psf, done last month, is nowhere near Meyer's Aalto high of $3,000 psf.
Newbie
I think the peak prices achieved in mayer is all caused by the crazy fever in 2007....you just have to ask anyone now if they are willingly to pay above $2000psf for district 15 in general...i doubt so, i wont for sure because $3000psf you can get a prime location...not in district 15
F01 N54 Sheer Driving Pleasure
$2,011 psf was done in January 2010.
$3,000 psf was done in March 2008 - during the last downturn.
None of them was done in 2007.
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Aalto .............. RCR ........ 118 ...................... 1 ............................ 2,011 ........... 2,011 ........... 2,011
Newbie
Sure enough...aalto was launched in 2007 when the mood was exuberant...and that's why the developer dares to launch at that kind of prices...if they are to launch in 2009, do you think anyone will buy at that kind of prices....? The caveat lodged is about 1-2 months before....this means they probably bought the unit end of 2007 or beginning of 2008...you wont see such transaction in end of 2008 to 2009 when the true effect of recession is felt....not the beginning of recession in 2008 when the impact on sentiments is not that great yet..
Just my 2 cent worth..
Why argue on something that has no right/wrong answer? If one dont think highly of D15, then just ignore the thread and move on.
F01 N54 Sheer Driving Pleasure
$2,011 psf was purchased (i.e. signed) in January 2010.
东方
D15 might be the prime district of the east, but if having 'sea view' is the primary draw for the high psf, the 'sea view' usually also comes with 'neighbouring condos' view. Not to even start on the type of 'sea' view we have...
Newbie
I'm not Andy Chng!
Newbie
If you are talking about the "real" prime districts - I take it as those areas like City Hall, Shenton Way, Marina Bay, Tanjong Pagar, Clarke Quay, Robertson Quay & Orchard Road...prime as in near to major shopping and business centres. Quite hard to find below $1500 psf in current market...
Please dun use Bukit Timah, Balestier, Thomson or even Novena areas...those are not really prime in my opinion...although they may luckily fall within the District boundaries...
I once think property prices is impossible to reach such levels, but over the years from 2006 to 2010, time and time again, it proved me wrong. One can hardly find anything below $1000psf nowadays unless u look north (Yishun) or extreme east (Pasir Ris) / west (Jurong).
D15 is unique in the way it's well served by various expressways, the beach, famous eateries and shopping, surrounded by private residential areas, and close proximity to town. It's even better than Bukit Timah in my opinion. My friend bought a unit along Shelford Road (Bukit Timah) for $1200+psf. Can you imagine without a car, he has to walk 20 mins big detour to get to the main road? And even at the main road, there is no eateries nearby.
To each its own anyway. Most imptly u like it, u buy it.
Newbie
Well said, blue.
It's hard isn't it to be debating over what's valued higher over another. I reckon while prices are highly determined by market sentiments/perception, it is ultimately how much value a buyer pegs to a district/development that makes the transaction.
That said, a unit at OA just lodged a caveat at 1376psf. As an owner of OA, I am sure hoping that there's more to come!
Of course, I can't wait for it to TOP so that I can FINALLY move in!
F01 N54 Sheer Driving Pleasure
Yup! Congratulations!
One Amber has indeed set a nëw hïgh of $1,376 psf in February!
May more come for you!
One Amber
Address ......................... psf ............... Area ........ Price ......... Contract Date
1 Amber Gardens #16-04 .... $1,376 psf .... 570 sqft .... $785,000 .... 12 Feb 10
Newbie
Fully agree. Don't understand why buyers are attracted because it is near orchard. Some are not that near after all. I second that prime means orchard, marina bay, tanjong pagar and river valley ONLY. Especially orchard. You see the psf, you know it is prime.
Those asking above 2k psf just because it is NEAR to orchard is really crazy. Every downturn, we always see those overpriced condo drop 60 to 70% (eg: Aristo) and those with fundamental holding firm. Aristo was selling at 2100 psf at the super peak but what happen? Pityful seaview, no rental and thus, 800 psf. I rather buy at tanjong pagar for 1900 psf than to buy at united square for 2200 psf. It is just a no brainer. Near orchard better or in CBD better? I prefer CBD but it is just me though.
Last edited by Squall8888; 03-03-10 at 14:46.
Global recession is coming....
CBD good for working class only (convenient to go to work)? If I am retired and enjoying life and don't need to go to work, near Orchard better lah because shop & eat, shop & eat, get away from the working crowd as they walk & do things too fast and keep bumping into me & have no patience, also don't want to be stuck in the heavy start-stop traffic and even traffic jam in CBD and keep paying ERP to get in & out. Want to enjoy the fresh air go Botanic Garden... That is just my personal opinion...
Newbie
Agreed that East Coast is indeed and great place to live in. I used to live in the River Valley area and shifted to East coast. My office is at CBD and driving home is so much faster with the ECP. Often I drive home for lunch and sometime even take a short nap as it takes only about 10 mins to drive during off peak hour! simply amazing ! whereas RV or Orchard will take u easily about half hour by car...
Newbie
If I'm a retiree, instead of paying S$2M to stay in a less than 1000 sqft, 2 bedrm condo near or right behind Orchard Rd, I would buy a semi-detached or inter-terrace house (at least 3x the size) say, in D15 or D19.
Or stay in a 2 bedrm condo in D15 + extra savings of $500K to get a nice Audi R8 to drive to Orchard for shopping.
Global recession is coming....
How to define "Prime"? I suppose "Prime" is when people are willing to pay high price for these areas & condo apartments historically and now (and possibly in the future)? In this respect, some of the areas you mentioned are not reallly "prime", some part of the "River Valley" are also not "prime", some part of CBD are less "prime", some part of Orchard or near Orchard also less "prime". Many part of D10 also not so "prime" e.g. Shelford Road area (some other part actually quite ulu some more)...
Newbie
Prime and Premier are different.
Prime by intrinsic nature means the location is close or central to major business and shopping centres. It is not measured by the dollar value of the properties in that location. Eg. Chinatown - is considered prime location but not necessary you need to pay $2000 psf to stay there. In recent years, we can witness the shifting of prime areas in Singapore into the CBD, Beach Road and Tanjong Pagar because of the two IRs. The traditional so called prime areas like River Valley or Newton or Bukit Timah are losing out..
Premier means people paying premium prices over certain locations that may not necessary be prime locations. Eg. Meyer Road or Tanjong Rhu in D15 - these are not prime locations but people are paying premium prices to stay there.
Newbie
went on site today in an attempt to see my unit (well, didn't get the chance) and spoke with one of the site workers who mentioned that they are ending work by 13th March and handing over to the developers. So i reckon TOP might actually take place this month.
that's like a week away but sure seems like there's still some work left with the landscaping and exterior works.
Newbie
Good definition, but I would argue Tanjong Rhu is no longer premium.
Well at least the prices there for most condos are no longer premium vs the rest of the current market and years ago..
Also its location is getting attractive IMO ...
Newbie
It is true that OM legal TOP date is in 2009 ? If so, did UIC compensate the owners?
Newbie
Which development is OM?
Newbie
One Amber official TOP should be Dec 2010 i think. Don't expect these developers like UIC to make such fundamental mistakes.
Newbie
Even if there is a delay, main contractor will be liable to developer. And subcon will be liable to main con.
Newbie
Any idea of the TOP date for OA. I just bought a unit for personal and am not sure when to extend my lease till. is there any way of knowing?
Junior
Most likely June
it is like a turtle project as compare to Esta
Newbie
What is the meaning of turtle project? Curious..
Junior
I heard a very high floor stack 6 was sold 1210psf.....
Seller on deferred payment panic?
Spoilt market leh.....
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