RECENT TRANSACTIONS:
#11-21 999 Yrs From 01/10/1827 $1355PSF 1033 $1400k 11 Feb 10
#08-15 999 Yrs From 01/10/1827 $1430PSF 1238$1770k 10 Feb 10
CLIFT AND ONE SHENTON HELP TO BOOST UP PRICE AT EMERALD GARDEN GIVEN 999 LH AND NEAR FUTURE MRT STN.
RECENT TRANSACTIONS:
#11-21 999 Yrs From 01/10/1827 $1355PSF 1033 $1400k 11 Feb 10
#08-15 999 Yrs From 01/10/1827 $1430PSF 1238$1770k 10 Feb 10
CLIFT AND ONE SHENTON HELP TO BOOST UP PRICE AT EMERALD GARDEN GIVEN 999 LH AND NEAR FUTURE MRT STN.
MORE TRANSACTIONS IN EMERALD GARDEN WITH PRICES INCREASING.
#07-09 999 Yrs From 01/10/1827 $1457 1098 $1600k 29 Mar 10
#11-18 999 Yrs From 01/10/1827 $1503 1216 $1828k 29 Mar 10
#07-02 999 Yrs From 01/10/1827 $1340 1528 $2048k 26 Mar 10
#06-22 999 Yrs From 01/10/1827 $1481 1033 $1530k 26 Mar 10
#11-17 999 Yrs From 01/10/1827 $1440 829 $1193k 25 Feb 10
#11-21 999 Yrs From 01/10/1827 $1355 1033 $1400k 11 Feb 10
#08-15 999 Yrs From 01/10/1827 $1430 1238 $1770k 10 Feb 10
Overpriced
Why is it overpriced? Pls advice.
pricing is nearing highest ever peak, so upside lesser and lesser, no enbloc in sight also... of cos not saying it wont break new high
When I bought Southbank, prices are near to peak too... People say crazy to buy southbank 1200plus, lesser upside. Now someone offer me 1450psf already. What's e hurry?Originally Posted by august
how much u bought ur southbank? u bought subsale ah?Originally Posted by Property_Owner
Originally Posted by Property_Owner
Not bad! Someone offered me yesterday only $1420psf. Can wait.
In comparison to a stone throw development like One Shenton and the Clift, do you think it is overpriced given those are 99LH and EG is 999LH?Originally Posted by august
no 2 projects r the same.. those 2 r high rise & are quite diff from something like EG..Originally Posted by DC33_2008
EG potential to me lies in enbloc, and nestling within a conservation area i nt sure will there b any issue
iirc EG's peak is around 1800psf in the last cycle, now sellers are asking 1600 or 1700psf rite?? a buyer entering at this price how much does he hope to unload for? 2000psf, 2200psf? of cos is possible, but seems like not much meat for the next buyer
diff investors they will hv diff meaning of overprice.. me poor man mah, so is overprice to me
But people are buying 12th floor unit with no view at the Clift/one shenton at $1600psf. Units at the 99LH Centro at AMK has caveat lodged at 1300psf for a similar size unit. Shouldn't there be upside if one is willing to hold for a while?
Originally Posted by august
i think for comparative valuation purpose, the attributes of clift/1 shenton r diff from EG.. EG would be better compared with something like e.g. craig placeOriginally Posted by DC33_2008
maybe as a guide, if currently the bank valuations can meet seller's asking price then i guess is not over priced~
Is craig place a good comparative guide given it is only a 99LH and the nearest MRT is 280m away?
Originally Posted by august
dunno, ask the valuers?Originally Posted by DC33_2008
Valuation from two banks were between 1460 -1500 psf 2 months ago for a two-bedder at EG. Not sure if it is gone up now?Originally Posted by august
When Club/Cross Street MRT is operational and surrounding conservation properties are rejuvenated , $1.4k psf will look like a steal.Originally Posted by jc
Recent 99LH development, Waterbank, at Dakota already reached 1200-1300psf and does not have enough carparks. This 999LH place in District 1 is near Chinasquare and Raffles place, and has enough parking lot and does not need to pay monthly parking. $1500psf is still reasonable.Originally Posted by durian
Rejuvenated or not, the area is under conservation. Based on current mkt, it is overvalued at $1.4kpsf. If u talk abt future, then there are other better properties out there.Originally Posted by durian
Overpriced based on current value of land vis a vis other parts of the island & future potential is a ? as surrounding are all conservation. This project cannot be comparable to One Shenton or Clift as they are in different location.Originally Posted by DC33_2008
Is it overvalued because it is a conserved site? Otherwise, why is it overvalued given the only 999LH site there. But I understand from the planner of URA that one can put in a proposal as the height limit there is more than 30 storeys as can be seen on the latest masterplan.Originally Posted by jc
$1500psf i go for Marbella. Dist 1 near Raffles Place & Chinasquare so? What does that go to do with price? Ardmore Park is not near any D1Originally Posted by DC33_2008
Last edited by jc; 20-04-10 at 22:35.
I thought this is nearer to raffles city and future mrt stn. What will happen 30 years later when the Lease for one shenton and clift is down to 60 odd years while EG has still 800 years LH?Originally Posted by jc
Well pal i am not disputing that one shenton and clift is LH99 n this is 999. But they are of a different location, although same District.Originally Posted by DC33_2008
Why Marbella?Originally Posted by jc
In fact, it has better rental yield and lots of expatriate (bankers) prefers this place as they can walk to work. In future, Telok Ayer MRT stn which is just 150m away and one stop from Marina Bay Financial Centre.Originally Posted by jc
Just an example at a certain px a certain project is worth (not vested in Marbella or EG). The point is EG is in D1 but not equal to Sail, MBR, One Shenton, Clift, as they are of different location. Proximity to Raffles Place has no bearing on the price, else People's Park would have worth a lot more.Originally Posted by DC33_2008
Then that's a different consideration already cos u r going for yield. Suburbs can give much higher yield. My SMRT & Reits also give me very good yield.Originally Posted by DC33_2008
I fully agree with you that EG is different from the other newer developments. They draw a different crowd. People's park has a different crowd. You may want to visit EG to see who is there.Originally Posted by jc
Well i am not sure whether who stays there actually affects the value of the Land where the property sits. No offense to anyone staying there, it may be a nice place to stay to some, but still overpriced at $1.4psf now. If the whole mkt moves up, yes i believe the px of it will move too.Originally Posted by DC33_2008
It is not really a fair comparison. The absolute gain is not much. as compared to Capital Gain of property besides the rental yield. If you were to compare the value of blue chips, some has gone up by more than 300% since last March. They are just different instruments. One can use equity to build up cash faster and then invest in real estate,etc.Originally Posted by jc