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Thread: Heritage View asking 1 m for 1163sqft?

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    Default Heritage View asking 1 m for 1163sqft?

    owners of Heritage View asking 1 m for 1163sqft? is it reasonable? why ?????

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    Quote Originally Posted by parcoasis09
    owners of Heritage View asking 1 m for 1163sqft? is it reasonable? why ?????
    Tell them go "fly-kite". Check out URA website for the recent and past transacted prices.

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    Quote Originally Posted by yokoosi
    Tell them go "fly-kite". Check out URA website for the recent and past transacted prices.
    Yes, I agree. Everybody is just testing market

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    But Agents will always say that there is a time delay between the data on URA and transactions, and recent transactions are much higher, etc etc...

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    Talking

    Quote Originally Posted by stocker
    But Agents will always say that there is a time delay between the data on URA and transactions, and recent transactions are much higher, etc etc...
    Seller Agents main aim is to sell high so as to get high commission. There are 101 sales tactics applied by this agents.

    Some of the tricks includes but not limited to showing you cheque, bank valuations, buy options, etc...

    JUST do your homework. Pay $25 dollars to get a proper and actual report from www.streetsine.com.sg

    DO NOT BE A SUCKER !

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    actuallly my frd told me dat nearby HDB 5 rm transacted 600+ , n upcoming ONR n The Rochestar increases the valuation. Govn put so much money so valuation goes sky high. is it true?

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    Quote Originally Posted by parcoasis09
    actuallly my frd told me dat nearby HDB 5 rm transacted 600+ , n upcoming ONR n The Rochestar increases the valuation. Govn put so much money so valuation goes sky high. is it true?
    Are you a local or foreigner?

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    offcourse local mah

    why ?

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    Quote Originally Posted by parcoasis09
    offcourse local mah

    why ?
    there will be a time when the valuation will hit a limit. So how high more can it go? Who can afford it ? Is your friend the agent?

    Example, Bishan used to be a "hot" & "hype" area where there was a time when transaction was more than 600K. Look at it now. People who bought it during that time is still bleeding.

    the difference of the 600K HDB and 1 mil plus Heritage View is more than 40%.

    You go do the maths.

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    Quote Originally Posted by parcoasis09
    owners of Heritage View asking 1 m for 1163sqft? is it reasonable? why ?????
    In mid 2007 this was the asking price . Seller thinking now is the time to sell high. Afterall Rochester asking $1xxxpsf right!

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    aaiyo!

    my frd stays there. she told me so. i was looking in dat area for myself.

    i checked ura site, latest trans for 920k ( that too in e month of july dat means actual transation takes pl 2-months back rite?)

    so hw owners asking price go on sky high?

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    Quote Originally Posted by yokoosi
    there will be a time when the valuation will hit a limit. So how high more can it go? Who can afford it ? Is your friend the agent?

    Example, Bishan used to be a "hot" & "hype" area where there was a time when transaction was more than 600K. Look at it now. People who bought it during that time is still bleeding.

    the difference of the 600K HDB and 1 mil plus Heritage View is more than 40%.

    You go do the maths.

    if centro can launch at 1000 psf .. why can HV be the same ??

    HV is at a better location than AMK 1000 times

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    cos nobody wants to come up with 300-400k cash, this money is better spend in stocks to generate higher returns

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    Quote Originally Posted by proud owner
    if centro can launch at 1000 psf .. why can HV be the same ??

    HV is at a better location than AMK 1000 times

    If Centro is a sold out project within 3 days @ 11xxpsf. Then anything else is worth buying

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    Default HDB beside heritage

    Quote Originally Posted by parcoasis09
    actuallly my frd told me dat nearby HDB 5 rm transacted 600+ , n upcoming ONR n The Rochestar increases the valuation. Govn put so much money so valuation goes sky high. is it true?
    the HDB beside Heritage View is Dover Close East. Those 3 blocks are different because they have unblock view, a lot of space (117sqm to 119sqm depending whether they have the excess area or not) and the area there is exclusive for these 3 blocks only (block 12, 13, 14).

    If you go to the carpark there, which only serves these 3 blocks, you will see about 7 Saabs, 3 Mercedes, about 4 Audis and 2 BMWs (last i counted in 2008). Not forgetting they have a lot of MPVs and SUVs parked in a HDB carpark. If you go to some condos, most do not have these kind of cars parked there. The last time i went to Regent Ville i remembered commenting that there are a lot of Toyotas, Picantos and Chery QQs.

    If you go to the void deck of these blocks and you look up at the ceiling, you will see that the place looks new even though the upgrading was done in 2004. There is hardly any litter or graffiti there unlike blocks 17, 18, 19 at Dover Road. These blocks are built in 1978 unlike 17, 18, 19 which are about 6 years old.

    During 2001 when Pungol was going at prices around $180000 to $220000, the place was selling at $400000 to $480000. So it's normal that it's still double prices at Punggol today.

    In 2007 to 2008, the highest transacted at Dover Close East is $733000 for the top floor, block 14. Not many places in Singapore can command that price so it isn't just a surrounding area issue. I feel you can't compare the prices for these blocks to any ordinary HDB and i feel it isn't because of One North or Rochester that increases the prices of these blocks.

    As for Heritage, i personally feel that the place is worth considering although i agree, the price now is very high. Owners can't sell if the price is too high above what the market values it to be, so if 3 months from now you see that they are selling the 1163 sqft for 1 mil, you know that the market values Heritage to be that.

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    Quote Originally Posted by Property_Owner
    If Centro is a sold out project within 3 days @ 11xxpsf. Then anything else is worth buying
    Only 87 sold (< 50% of the no. of units launched).

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    let's go to the basics.

    Past months properties report card looks incredible and unbelieveable. Record sales during recession. Now, the questions is

    a) How many are new project sales and how many are sub-sale units?

    Correct me if i am wrong, but from what i gathers, most are new project sales. So, what does this buying pattern tells us?

    a) Not all, but most of the people who bought the new projects sees it as a opportunity to park their money there and hopefully make a capital gain by the time the project TOP. Like someone mentioned, HV is a better located project, but why is it not selling at about 1000 psf and why this group of people not buying? Why?

    For new projects, 20% down payment is all you need and you don't have to worry about the monthly bank payment. Once this group of people are exhausted, the buying trend will slow down for new projects down the road. Where got so many people with so many money to park? In another words these people are speculators with no confidence in current economic situation now. if you are not in the rush to buy, wait for next year or so.

    b) Current seller saw the uprise in price, so think that the market is recovering..and so the high asking price, but if you check the URA transaction, this is not the case. The difference between asking price and transacted price has a big gap.

    So if you are a serious buyer, print out the URA transaction and show it to the agent and seller. I am sure there are still seller with realistic expectation in the market...



    I seriously doubt that this buying trend can continue.

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    i talked to my lawyer. he feels that more than 70% of the properties he is handling are bought by "investors"/speculators and genuine upgraders? only 2 or 3 out of every 10. he said his business is not as good as in 2007 because it is predominantly new sales and secondary market transactions are relatively small in comparison. he feels that speculation is more rampant now than in 2007 except that the speculation is more in new launches in RCR and OCR rather than prime in 2007.



    Quote Originally Posted by yokoosi
    let's go to the basics.

    Past months properties report card looks incredible and unbelieveable. Record sales during recession. Now, the questions is

    a) How many are new project sales and how many are sub-sale units?

    Correct me if i am wrong, but from what i gathers, most are new project sales. So, what does this buying pattern tells us?

    a) Not all, but most of the people who bought the new projects sees it as a opportunity to park their money there and hopefully make a capital gain by the time the project TOP. Like someone mentioned, HV is a better located project, but why is it not selling at about 1000 psf and why this group of people not buying? Why?

    For new projects, 20% down payment is all you need and you don't have to worry about the monthly bank payment. Once this group of people are exhausted, the buying trend will slow down for new projects down the road. Where got so many people with so many money to park? In another words these people are speculators with no confidence in current economic situation now. if you are not in the rush to buy, wait for next year or so.

    b) Current seller saw the uprise in price, so think that the market is recovering..and so the high asking price, but if you check the URA transaction, this is not the case. The difference between asking price and transacted price has a big gap.

    So if you are a serious buyer, print out the URA transaction and show it to the agent and seller. I am sure there are still seller with realistic expectation in the market...



    I seriously doubt that this buying trend can continue.

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    Default go with what you are comfortable with

    Quote Originally Posted by parcoasis09
    owners of Heritage View asking 1 m for 1163sqft? is it reasonable? why ?????
    Parcoasis09, my personal views are that you should buy when you're comfortable with the place and the price. Consulting your spouse and/or any other relative would help give some perspective too, especially those relatives or friends staying at Heritage (if any).

    Though yokoosi has a point, i personally feel the prices will keep going up. The way i assess the situation is that

    1) we are passed the bottom. How long the REAL uptrend is going to appear is anyone's guess.

    2) most agree that recovery is most likely end year or next year

    3) most do not know if the continuous printing of US $ will cause the next downturn

    4) many would agree that China (who owns US now with all the securities they bought) would chip in to help the US $ if the "US $ doom's day prediction" comes through cuz, it would erode much of China's asset and China wouldn't sit there and keep still

    the prices are moving up now in anticipation of a recovery. What do you think the prices would be if the recovery really comes end year or next year?

    My view's the prices would move up for a while. When the IR is opened and we are still on the uptrend, the prices would move more. After that, it's anyone's guess.


    When it comes to investment and instruments, it all boils down to the probabilities. Much of the views you see here are pointers to what many of us would look out for to calculate the probabilities.

    If you want to make sure things are more certain, maybe you could explore what are the issues about the pricing that you feel are

    1) speculation and just pure talk (or agent talk)

    2) has a high probability of happening with most of the people who know what they are saying agreeing with the point

    3) confirmed facts

    my best regards and my apologies to everyone if i offended anyone.

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    Quote Originally Posted by bargain hunter
    i talked to my lawyer. he feels that more than 70% of the properties he is handling are bought by "investors"/speculators and genuine upgraders? only 2 or 3 out of every 10. he said his business is not as good as in 2007 because it is predominantly new sales and secondary market transactions are relatively small in comparison. he feels that speculation is more rampant now than in 2007 except that the speculation is more in new launches in RCR and OCR rather than prime in 2007.
    i'm getting the same feedback from my lawyer friends that do conveyancing. what's more, it's really dumb money that's chasing up the mass market new launches, while smart money is targeting the resale market. the problem is that out of every 100 buyers, only 1 or two really read forums like this, and do in-depth research. the rest get hyped up by the papers, relatives, agents and deceptively appealing showrooms.

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    there are problems buying in resale market also. My friend wants to buy a condo where the latest caveat lodged in Jul was for 950k. it is heard that a recent transaction went through at 1.06m. my friend now wants to buy a unit where the nett asking price is 1.1m. After stretching to the max, the bank can only value at 1m and is asking him to top up 100k. Other owners after hearing of the 1.06m deal are now inviting him to view their units asking for 1.1m to 1.3m! He is walking away. He thinks 100k in cash can be better depolyed elsewhere let alone 200 or 300k.


    Quote Originally Posted by gfoo
    i'm getting the same feedback from my lawyer friends that do conveyancing. what's more, it's really dumb money that's chasing up the mass market new launches, while smart money is targeting the resale market. the problem is that out of every 100 buyers, only 1 or two really read forums like this, and do in-depth research. the rest get hyped up by the papers, relatives, agents and deceptively appealing showrooms.

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    nowadays sellers r asking for >30% from the last caveats lodged. i try offering 5% above the last caveats with no luck. think now better to stay at the sideline and see how things progress.

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    as you can see from the dwindling discussions in the past week in this forum, more people are now on the sidelines even before the seventh month started.


    Quote Originally Posted by Allthepies
    nowadays sellers r asking for >30% from the last caveats lodged. i try offering 5% above the last caveats with no luck. think now better to stay at the sideline and see how things progress.

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    Quote Originally Posted by Allthepies
    nowadays sellers r asking for >30% from the last caveats lodged. i try offering 5% above the last caveats with no luck. think now better to stay at the sideline and see how things progress.
    That's correct but 30% could be an exaggeration. Sellers also learnt in 2007. Some sold their properties in early 2007 to find that they have been priced out of the market in June 2007 because prices increased 20% over the period. In other words, if you sell early you may not be able to buy back a unit in the same area in a rising market. Banks cannot value too high above the last caveat. Hence the buyer will have to top up and this becomes a show-stopper.

    On the otherhand for new developments, the banks & developers has agreed on selling price which is sometimes close to resale asking prices in the same area. There is no gap between selling price and bank valuation. Hence it's a done deal at 20% cash. That's one reason the primary market looks attractive.

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    it's all abt risk. banks can match valuations coz disbursements are in stages and can be withheld when market valuations cannot match, but the buyer still must make good the payment to the developer

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    Quote Originally Posted by yokoosi
    let's go to the basics.

    Past months properties report card looks incredible and unbelieveable. Record sales during recession. Now, the questions is

    a) How many are new project sales and how many are sub-sale units?

    Correct me if i am wrong, but from what i gathers, most are new project sales. So, what does this buying pattern tells us?

    a) Not all, but most of the people who bought the new projects sees it as a opportunity to park their money there and hopefully make a capital gain by the time the project TOP. Like someone mentioned, HV is a better located project, but why is it not selling at about 1000 psf and why this group of people not buying? Why?

    For new projects, 20% down payment is all you need and you don't have to worry about the monthly bank payment. Once this group of people are exhausted, the buying trend will slow down for new projects down the road. Where got so many people with so many money to park? In another words these people are speculators with no confidence in current economic situation now. if you are not in the rush to buy, wait for next year or so.

    b) Current seller saw the uprise in price, so think that the market is recovering..and so the high asking price, but if you check the URA transaction, this is not the case. The difference between asking price and transacted price has a big gap.

    So if you are a serious buyer, print out the URA transaction and show it to the agent and seller. I am sure there are still seller with realistic expectation in the market...



    I seriously doubt that this buying trend can continue.
    to most part, i agree with you .. once these 'cash rich HDB upgraders are exhausted' prices may fall ..

    whar is disagree is using data from URA caveat .. very often the data released are 2 mths old for resale old projects, and maybe 1mth old for new launches .. its not really a good guide ..

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    Quote Originally Posted by bargain hunter
    there are problems buying in resale market also. My friend wants to buy a condo where the latest caveat lodged in Jul was for 950k. it is heard that a recent transaction went through at 1.06m. my friend now wants to buy a unit where the nett asking price is 1.1m. After stretching to the max, the bank can only value at 1m and is asking him to top up 100k. Other owners after hearing of the 1.06m deal are now inviting him to view their units asking for 1.1m to 1.3m! He is walking away. He thinks 100k in cash can be better depolyed elsewhere let alone 200 or 300k.
    this is precisely the issue i mentioned sometime ago ..BANKS are the biggest culprits...

    for new launches they have the banking of the developers ..those where developers pay the interest until TOP .. so banks are comfortable and match their ridiculous psf ..

    while old projects, banks are not really matching the psf ..hence buyers need more cash ...

    in short, banks are still kiasu, kiasi , not confidence in the recovery (if any) ...

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    Quote Originally Posted by proud owner
    this is precisely the issue i mentioned sometime ago ..BANKS are the biggest culprits...

    for new launches they have the banking of the developers ..those where developers pay the interest until TOP .. so banks are comfortable and match their ridiculous psf ..

    while old projects, banks are not really matching the psf ..hence buyers need more cash ...

    in short, banks are still kiasu, kiasi , not confidence in the recovery (if any) ...
    Bro,

    Still in States? I am back in SG this month. Went to see a few projects, ridiculously high price.

    Today on 938 live, heard on radio SG is the second most expensive place to live in Asia after Tokyo, but when it came to wages per hour, we are behind Tokyo, HK, etc..i think something about $7 per hr. Uniquely Singapore again...sigh

    With wages not moving and more and more job loses in SG including PMEs, I really wonder how many % in the population can really afford or even dare to purchase a Private Properties in long run. You guys read about the Dr. Cai who lost his job as a researcher in A*Star and now is a Taxi Driver? Saw yesterday chinese paper he stays somewhere East on a some Private Properties.

    So, when buying a Private Properties, please have PLAN A, B, C...in another word have a entry and exit plan. Tread with caution, i don't see light in the Tunnel in the near future.....

  29. #29
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    Quote Originally Posted by yokoosi
    Bro,

    Still in States? I am back in SG this month. Went to see a few projects, ridiculously high price.

    Today on 938 live, heard on radio SG is the second most expensive place to live in Asia after Tokyo, but when it came to wages per hour, we are behind Tokyo, HK, etc..i think something about $7 per hr. Uniquely Singapore again...sigh

    With wages not moving and more and more job loses in SG including PMEs, I really wonder how many % in the population can really afford or even dare to purchase a Private Properties in long run. You guys read about the Dr. Cai who lost his job as a researcher in A*Star and now is a Taxi Driver? Saw yesterday chinese paper he stays somewhere East on a some Private Properties.

    So, when buying a Private Properties, please have PLAN A, B, C...in another word have a entry and exit plan. Tread with caution, i don't see light in the Tunnel in the near future.....

    yes still in NY at least 2 yrs

    i am not sure about more job losses ...but 5000 new jobs at sentosa IR this weekend is a joke ... 5000 chambermaids and tram drivers and bellhops ... be it Singaporeans or neighbourians .. can these jobs pay enuff for them to rent studio units which so so many singaporean have bought , in anticipatiion of rental demand from IR ???

    Yes singapore is 2nd most expensive ... but not pay wise ... BUT govt is HIGHEST paid in the world leh ...

    so average out ...pay wise we are high also lah ...ehehee

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    by next year, govn will open more PR quota = more sell of HDB = more HDB upgraders --> PVT Property

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