#25-06 $1292 592 $765k 08 Feb 10
#27-06 $1361 592 $806k 05 Feb 10
#25-06 $1292 592 $765k 08 Feb 10
#27-06 $1361 592 $806k 05 Feb 10
Just learnt that another studio unit was sold at $1380psf. This will be the new high.
$1,450 psf for Southbank?Originally Posted by DC33, 12 March 2010 3.51 pm
Oh my goodness!
What do you expect when a studio in katong launch at 1450 psf up to 1550 psf for studio. But no MRT and further away from city. If that can fetch 1500 psf, then 1450 psf is underpriced. Haha.
katong iz unque n cultrl whr southbnk iz sir lnd...Originally Posted by Squall8888
Southbank may take away some of the prospective tenants of Katong area because of distance to CBD, mrt, view,etc.
SOUTHBANK UNDERVALUED GIVEN ITS PROXIMITY TO CBD AND MRT STN, VIEW, COMPARED TO VISION WITH VIEW OF THE OIL REFINERIES, NO MRT, ETC.
Cheung Kong has a grand Vision for the West Coast
March 15, 2010
By Emilyn Yap
CHEUNG Kong has set its sights on building the tallest - and perhaps priciest - condominium project in the West Coast area.
The Hong Kong developer will launch The Vision at West Coast Crescent this weekend. It plans to release no more than 100 units at the 99-year leasehold project, and the average asking price will range from $1,000-$1,200 per sq ft (psf).
my turn to me reporter onceOriginally Posted by DC33_2008
Source : Straits Times – 15 Mar 2010
THE property market may still be sizzling, but at least one property developer here is offering a carrot which has not been seen in more than a year to entice buyers and boost sales.
The incentive – stamp duty absorption – is usually deployed by nervous developers during market downturns, but is now on offer at the 360-unit Concourse Skyline on Beach Road.
The deal, which can save homebuyers about 3per cent of the price, has been used extensively during market slumps.
However, industry experts say it has not been used since 2008, except on a one-off case-by-case basis.
They say the developer which has advertised the offer, Hong Fok Land, may be trying to ameliorate the effects of recent anti-speculative market-cooling measures unveiled by the Government.
However, some suggest the move may simply be a bid to counter slow sales at the project.
The offer at Concourse Skyline applies to selected units till April17. Hong Fok said the promotion was timed to coincide with the slated opening of the city leg of the Circle Line that same day. It draws attention to the development’s accessibility and convenience, a spokesman said.
Stamp duty absorption is similar to the interest absorption scheme which was abolished by the Government last September as part of market-cooling moves.
Under the interest absorption scheme, buyers had to take out a bank loan at the time of purchase but the developer absorbed interest payments until the project’s completion.
Property consultants The Straits Times spoke to were unaware of any similar offers being made openly – and said buyers should not hold their breath waiting for more to be touted.
Most said this was likely to be a unique case. The market is still hot, with sales and prices rising, so it is unlikely other developers will follow suit.
Buyers have needed no prodding, with sales of new private homes by developers rising to 1,476 units in January – three times as high as the previous month and the highest level since August last year.
Some property experts said, however, that this unusual move could be aimed at improving poor sales at Skyline.
They said the developer was ‘too optimistic about its pricing’ – which ranged from $1,500 to $1,800 psf – when it was first launched in September2008.
It was the same month that US investment bank Lehman Brothers collapsed, sparking the global financial crisis.
While 68 units were sold within the first month after the launch, sales have since tapered off to an average of about eight a month over the past 16 months.
A total of 170 units had been sold as of January this year, according to the Urban Redevelopment Authority’s website.
Ms Tay Huey Ying, director of Colliers research and advisory, said absorbing stamp duty was a developer’s way of enticing homebuyers.
In the past, developers had rolled out gimmicks such as renovation allowances and vouchers for electrical appliances in a bid to boost flagging sales.
Said Ngee Ann Polytechnic real estate lecturer Nicholas Mak: ‘These measures (by the Government) are expected to shave off about 1,000 homes sold yearly…So offering absorption of stamp duty might be a way for developers to increase sales.’
Chesterton Suntec International research and consultancy director Colin Tan said that absorbing stamp duty would lower a buyer’s costs without bringing down valuation prices, which is a key market indicator cited by developers.
The ‘uncommon move’, said Mr Steven Tan, executive director of
OrangeTee’s residential division, might be to encourage homebuyers to revisit the showflat, since newer launches have served as stiff competition.
Colliers’ Ms Tay added that the absorption scheme would cushion the expense of those who might be thinking of selling the property within a year of purchase.
Last month, a seller’s stamp duty was introduced to deter short-term speculators. It requires sellers to pay a levy of about 3per cent if they offload a property within a year of purchase.
Hong Leong Holdings’ Aalto in Jalan Kechil, near Meyer Road, which first started sales in August 2007, has also seen slower sales with only 118 of its 196 units sold as of January.
However, when contacted, Hong Leong said it would not be absorbing stamp duty for that project.
Concourse Skyline is a 99-year leasehold project consisting of one- to four-bedroom apartments and penthouses. It is expected to be completed in 2013.
---------------
any one know how is this Concourse Skyline doing ?
this report suggest it is slow in sales... ?
i think this project might affect prices of Southbank and Citylights... ?
me vested interest in CL
Thanks for the news.Originally Posted by taggy, 15 March 2010 11.36 am
Anyway, just curious.
Why did you post it in Southbank instead of Concourse Skyline?
bec i only interested in southbank and CL prices and i very seldom see ppl posting in Concourse Skyline thread....Originally Posted by Reporter
fully agree.Originally Posted by DC33_2008
It is only for selected units: maybe not so good facing units?Originally Posted by taggy
$1,500 psf? A nëw hïgh?Originally Posted by thesailowner, SkyscraperCity-Southbank, 28 March 2010 8.02 pm
OK. Southbank, you win! I have nothing to say.
http://forums.condosingapore.com/sho...9023#post69023Originally Posted by Condorich
Can claim to have foresight when the results speak for themselves.
Can it go beyond $1500?
Originally Posted by Condorich
Can you enlighten us again. Where is under value now? I'm running out of idea where to buy.....
egardnsOriginally Posted by Property_Owner
You might want to consider The Riverine by the Park, near to Kallang MRT and the only FH in that vicinity. Get only those with good views of the stadium or flyer and high floors. Usual caveat emptor applies. Do that that the holding period for this baby will be in the 5 yrs to 10 years horizon or longer.Originally Posted by Property_Owner
398 Kallang Road #11-04 Freehold $1286 980 $1260k 26 Jul 09
398 Kallang Road #10-04 Freehold $1174 980 $1150k 21 Jul 09
398 Kallang Road #06-04 Freehold $1131 980 $1107k 06 Jul 09
398 Kallang Road #07-04 Freehold $1123 980 $1100k 25 May 09
I suggest anyone who want to buy to go down URA to take a look at the layout. 100% blocked in time to come and government already waiting for tender to release the land. Furthermore, this condo is sandwiched between two MRTs so have to consider that as well if you are buying for rental. Just my opinion.
Originally Posted by Condorich
Thanks... actually, no need to go down to ura... check the masterplan onlineOriginally Posted by Squall8888
http://www.ura.gov.sg/mp08/map.jsf?goToRegion=SIN
If it is blocked, then no point to go for the views... but that area has good potential.
I've checked again, it is 3.5 plot and the plot directly infront of it is 2.8 plot Hotel.. surrounding mostly Hotels by the banks with plot of 2.8.. views could be blocked with two 3.5 hotel plot towards the stadium. But at least the bay view is not blocked. This is a great area if you have the money and the holding power. If not wait for LH99 around those area with plot ratio of 5.6..
Caveat Emptor
Any taker for studio at 2x-06 for $1,500 psf since 2 bedrooms is already at this price?Can send me private message..Originally Posted by Reporter
.................
Just called UOL earlier. The TOP should be end of next week. UOL lawyer will be writing to our lawyer to release the money. Key collection will be in batches starting with the top floors. We should be go in probably the week after.
better sell n buy unit in D18.
Originally Posted by DC33_2008
I've been watching riverine by the park for a long time..
Stack 4 doesn't have much views and perhaps that is why it is sold. The best stacks are stack 2 and 3... and those above 25 storeys. It can be very rare and difficult to find them in the market at a cheap price.
http://www.singaporeexpats.com/housi...Y-THE-PARK.htm
http://www.skyscrapercity.com/showthread.php?t=384940 (some views)
300 meters away.. a truely walking distance.
Back to Southbank... in case I get flamed for side tracking.
Last edited by Condorich; 30-03-10 at 12:15.
IT HOT AT SOUTHBANK! MAYBE B'COS OF WATERBANK
#12-09 $1396 614 $856k 29 Mar 10
$1,510 psf? Southbank 16th-storey unit sold on Saturday?Originally Posted by blustar, SkyscraperCity-Southbank, 17 April 2010 12.19 pm
Originally Posted by Reporter
What is heard is #17-09 bought by China buyer. Price 1520psf. 4 weeks completion, which means cash payment!
So Southbank's hïgh should be $1,520 psf - not $1,510 psf?Originally Posted by Property_Owner, 19 April 2010 12.24 am
Pay by cash means no caveat lodged. So we won't see it?