Page 1 of 6 12345 ... LastLast
Results 1 to 30 of 151

Thread: Espada (D9, Freehold, Novelty Orchard Development Pte Ltd)

  1. #1
    Join Date
    Jul 2009
    Posts
    549

    Default Espada (D9, Freehold, Novelty Orchard Development Pte Ltd)

    Address: St Thomas Walk
    One block of 32-storey Condominium development comprising of 235 residential units with provision for basement Carparks, 2 levels of Sky Terraces, Swimming Pool, BBQ, Gym, Tennis Court and other Communal Facilities


    235 units consists of the following;
    114 nos small size 1brm 344/355/377sqft
    29 nos good size 1brm 452/560sqft
    56 nos 1brm + study 646/689sqft
    28 nos 2 Bedrm unit 667/721sqft
    05 nos 1brm Penthouse 657/667sqft
    02 nos 1+study PentHse 1270sqft
    01 nos 2brm Penthouse 1313sqft

    Best Q/A I have received from agent

    Why is it so small in size?
    Ans: Well, there is no homeshelter and washing is at balcony.


  2. #2
    Join Date
    Sep 2008
    Posts
    2,660

    Default

    i heard is $2.3k psf n up for this development

  3. #3
    Join Date
    Nov 2008
    Posts
    1,141

    Default

    The rooms for Suites @ Central already so small! Damn, staying in a MM unit will restrict kids grow.

  4. #4
    Join Date
    Nov 2008
    Posts
    46

    Default

    Quote Originally Posted by Property_Owner
    The rooms for Suites @ Central already so small! Damn, staying in a MM unit will restrict kids grow.
    Just viewed a few units at [email protected] The rooms are really small. Anyone knows why there are still so many units vacant ? TOP in Mar'09. Looks like rental mkt is still very weak. With so many new condos coming up at Killiney area, can the mkt digest so many units ? Maybe we can expect fire sales in 2010.

  5. #5
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Not like that lah. Their kids will like the MM very much and want to be like MM.

    Quote Originally Posted by Property_Owner
    The rooms for Suites @ Central already so small! Damn, staying in a MM unit will restrict kids grow.

  6. #6
    Join Date
    Mar 2009
    Posts
    705

    Default

    haha.. home for the hobbits..

    Quote Originally Posted by Property_Owner
    The rooms for Suites @ Central already so small! Damn, staying in a MM unit will restrict kids grow.

  7. #7
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by cheerful
    haha.. home for the hobbits..

    with so many MM units / projects going on ...

    it makes so much more sense to keep/buy big units...

    honestly if they really believe more expats will come .. then there will be demand for 3-4 bedder units .. and i mean 1500-2300 sqft not 1130 sqft for 3 bedroom

    so if you have big units .. KEEP ...

  8. #8
    Join Date
    May 2008
    Posts
    9,279

    Default

    any idea when it is going to be launched? i can drop by the showroom to take a look.

    Quote Originally Posted by andy
    Address: St Thomas Walk


    One block of 32-storey Condominium development comprising of 235 residential units with provision for basement Carparks, 2 levels of Sky Terraces, Swimming Pool, BBQ, Gym, Tennis Court and other Communal Facilities



    235 units consists of the following;
    114 nos small size 1brm 344/355/377sqft
    29 nos good size 1brm 452/560sqft
    56 nos 1brm + study 646/689sqft
    28 nos 2 Bedrm unit 667/721sqft
    05 nos 1brm Penthouse 657/667sqft
    02 nos 1+study PentHse 1270sqft
    01 nos 2brm Penthouse 1313sqft

    Best Q/A I have received from agent

    Why is it so small in size?
    Ans: Well, there is no homeshelter and washing is at balcony.


  9. #9
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by proud owner
    with so many MM units / projects going on ...

    it makes so much more sense to keep/buy big units...
    Wasn't that what Reporter did yesterday with his mysterious D9 execution plan?

    honestly if they really believe more expats will come .. then there will be demand for 3-4 bedder units .. and i mean 1500-2300 sqft not 1130 sqft for 3 bedroom

    so if you have big units .. KEEP ...
    Of course. Don't sell anything now (in fact I'd never advocated selling anything, anytime).

    The Mickeymousation of Singapore has just begun. There will be a systematic revaluation of prices, as we close the gap with Hong Kong.

    There is simply no reason why Hong Kong's property prices should be higher than ours, when our average income is about the same as theirs. It's simply because they have had smaller apartments all along.

    It has taken our developers 40+ years to wake up to this fact.

    See! Even my avatar has changed to "Mickey Mouse" to worship this new god of fortune arriving in Singapore!


  10. #10
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default

    Quote Originally Posted by proud owner
    with so many MM units / projects going on ...

    it makes so much more sense to keep/buy big units...

    honestly if they really believe more expats will come .. then there will be demand for 3-4 bedder units .. and i mean 1500-2300 sqft not 1130 sqft for 3 bedroom

    so if you have big units .. KEEP ...
    ... agree with you ... 1500-2300 sqft ... against the grain ... but need patience ...

  11. #11
    Join Date
    Jul 2009
    Posts
    549

    Default

    Quote Originally Posted by Reporter
    ... agree with you ... 1500-2300 sqft ... against the grain ... but need patience ...
    Are you saying we should buy big units for rentability or to wait for enbloc so that they can be made small again?

  12. #12
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default

    Quote Originally Posted by andy
    Are you saying we should buy big units for rentability or to wait for enbloc so that they can be made small again?
    I think we can consider:
    1. Buying big unit to rent to expats.
    2. Buying big new unit to sell to foreigners (to park their money or (maybe) for own stay).
    3. Buying big old unit to try for enbloc.

    I personally wouldn't try (3) as there are too much uncertainty. Of course we can't deny many millionaires were made from enbloc. "No risk no gain!"

    MM will continue to be a favourite, especially among the locals. I believe "Mickeymousation" will rewrite a lot of pricing history books going forward. Perhaps big units will benefit from "Mickeymousation".

  13. #13
    Join Date
    Jul 2009
    Posts
    549

    Default

    Quote Originally Posted by Reporter
    I think we can consider:
    1. Buying big unit to rent to expats.
    2. Buying big new unit to sell to foreigners (to park their money or (maybe) for own stay).
    3. Buying big old unit to try for enbloc.

    I personally wouldn't try (3) as there are too much uncertainty. Of course we can't deny many millionaires were made from enbloc. "No risk no gain!"

    MM will continue to be a favourite, especially among the locals. I believe "Mickeymousation" will rewrite a lot of pricing history books going forward. Perhaps big units will benefit from "Mickeymousation".
    You guys are so exciting to bounce ideas and hopefully you also very successful investors. I love this forum

    I agree with (1) and (2). One thing I noticed is that expats don't like high rise. In fact they like those ground floor with patios. But nowadays not many dev't with such features. Those old units the building oredi too old and facilities cannot match those new TOP.

    How about larger units with extra large balconies?

  14. #14
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by Reporter
    I think we can consider:
    1. Buying big unit to rent to expats.
    2. Buying big new unit to sell to foreigners (to park their money or (maybe) for own stay).
    3. Buying big old unit to try for enbloc.

    I personally wouldn't try (3) as there are too much uncertainty. Of course we can't deny many millionaires were made from enbloc. "No risk no gain!"

    MM will continue to be a favourite, especially among the locals. I believe "Mickeymousation" will rewrite a lot of pricing history books going forward. Perhaps big units will benefit from "Mickeymousation".
    In fact, option (3) above is the most certain to make money.

    It is only a matter of time before you make lots of money. You just need the holding power.

    However, there is a price to everything.

    The price you have to pay is:

    1. Due to the age of the property, you have to rent out to strange tenants whom you may probably never meet in life otherwise.

    2. Having ceiling boards falling onto your head or cuts on your hand with permanent scars.

    3. Having nightmares of being trapped in an old haunted apartment where the gates cannot be opened because they are rusty.

    4. Being ridiculed by people saying you are "greedy", or "it's a pipe dream" and you will never succeed.

    If you can withstand all these, the money is almost a certainty. It's only a matter of time.

  15. #15
    Join Date
    Jul 2009
    Posts
    549

    Default

    Quote Originally Posted by Reporter
    I think we can consider:
    1. Buying big unit to rent to expats.
    2. Buying big new unit to sell to foreigners (to park their money or (maybe) for own stay).
    3. Buying big old unit to try for enbloc.

    I personally wouldn't try (3) as there are too much uncertainty. Of course we can't deny many millionaires were made from enbloc. "No risk no gain!"

    MM will continue to be a favourite, especially among the locals. I believe "Mickeymousation" will rewrite a lot of pricing history books going forward. Perhaps big units will benefit from "Mickeymousation".
    I'm wondering if we look at units that are more "blue chip" One that can easily be bought and sold during good and bad times.

    Is there is liquidity index for development projects?
    No of units sold over a period (eg 6 months)/Total number of units within project

  16. #16
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by jlrx
    In fact, option (3) above is the most certain to make money.

    It is only a matter of time before you make lots of money. You just need the holding power.

    However, there is a price to everything.

    The price you have to pay is:

    1. Due to the age of the property, you have to rent out to strange tenants whom you may probably never meet in life otherwise.

    2. Having ceiling boards falling onto your head or cuts on your hand with permanent scars.

    3. Having nightmares of being trapped in an old haunted apartment where the gates cannot be opened because they are rusty.

    4. Being ridiculed by people saying you are "greedy", or "it's a pipe dream" and you will never succeed.

    If you can withstand all these, the money is almost a certainty. It's only a matter of time.

    you are right to some extend ..

    in 2006, my friend who owns a 1500 sqft 3 bedder in Pacific mansion...almost sold it for 780k

    i told her to keep ..
    she said too old already ..
    it was rented out at that time for 1.8k while shes renting a smaller unit herself at $900 ..so she pocket $ 900 a mth ..

    i told her ..you go spa once a week already spend abt $500 a mth ..leaving 400 ..thats ntg to you .. and doesnt make sense at all ..i told her to take back the unit, throw in 10k to renovate and move in instead .

    i managed to convince her not to sell (paper work all done, just short of signatory)..
    she spent 8k and renovated till nice nice and move in ..

    true enuff in 2007/8 the price went up to 1.8 mio ..
    she said enbloc coming up ..and according to committee's calculation, she stood to receive 3.2 mio ..

    at that time, i felt the fair value, with a little future value priced in would be 1800 psf .. meaning 2.7 mio .. so i told her to sell at 2.4 mio ..go advertise in the paper ..

    she did .. and received 10 phone calls between 8-9 am and one even willing to buy withouit viewing ..

    she was excited, and yet worried ..
    saying if enbloc its 3.4 mio , and why i asked her to sell at 2.4 mio

    to me ..enbloc is an uncertainty .. from 2006 to 2008, from 780k to 2.4 mio ...why not ?? if i didnt stop her, she would have already sold at 780k ..
    so she should sell at 2.4mio ..take the money .. even at 1800 psf, 2.7 mio ..let someone else take that risk and make that 300k ..

    SHE DIDNT LISTEN TO ME ..

    and it fell thru ...

    she could have sold at 2.4mio and bought back in 2009 at 900k

    anyway ..she later rented it to out an expat couple ..who wanted renovated, but not nice nice unit ..cos they enjoy doing a little updating themselves ... ahahahha

    it is still rented to them today at 4.5k ...

  17. #17
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by proud owner
    you are right to some extend ..

    in 2006, my friend who owns a 1500 sqft 3 bedder in Pacific mansion...almost sold it for 780k

    i told her to keep ..
    she said too old already ..
    it was rented out at that time for 1.8k while shes renting a smaller unit herself at $900 ..so she pocket $ 900 a mth ..

    i told her ..you go spa once a week already spend abt $500 a mth ..leaving 400 ..thats ntg to you .. and doesnt make sense at all ..i told her to take back the unit, throw in 10k to renovate and move in instead .

    i managed to convince her not to sell (paper work all done, just short of signatory)..
    she spent 8k and renovated till nice nice and move in ..

    true enuff in 2007/8 the price went up to 1.8 mio ..
    she said enbloc coming up ..and according to committee's calculation, she stood to receive 3.2 mio ..

    at that time, i felt the fair value, with a little future value priced in would be 1800 psf .. meaning 2.7 mio .. so i told her to sell at 2.4 mio ..go advertise in the paper ..

    she did .. and received 10 phone calls between 8-9 am and one even willing to buy withouit viewing ..

    she was excited, and yet worried ..
    saying if enbloc its 3.4 mio , and why i asked her to sell at 2.4 mio

    to me ..enbloc is an uncertainty .. from 2006 to 2008, from 780k to 2.4 mio ...why not ?? if i didnt stop her, she would have already sold at 780k ..
    so she should sell at 2.4mio ..take the money .. even at 1800 psf, 2.7 mio ..let someone else take that risk and make that 300k ..

    SHE DIDNT LISTEN TO ME ..

    and it fell thru ...

    she could have sold at 2.4mio and bought back in 2009 at 900k

    anyway ..she later rented it to out an expat couple ..who wanted renovated, but not nice nice unit ..cos they enjoy doing a little updating themselves ... ahahahha

    it is still rented to them today at 4.5k ...
    Pacific Mansions is today being transacted at $1,100 psf, which means your friend's unit is worth about $1.65 million if sold on the open market.

    They tried to achieve (unsuccessfully) an en bloc price of $2,400 psf in 2007.

    Business Times - 19 Jun 2007


    At $2,400 psf ppr, Pacific Mansions will cost more than The Ardmore which was transacted at $2,338 psf ppr on Sunday.


    The owners of Pacific Mansions could each make $2,200 psf of strata area - an estimated premium of 140 per cent to the average current transaction price (since January) of about $900 psf.


    For $2,200 psf of strata area, your friend's unit would have netted $3.3 million, but it did not materialise. Never mind.

    Let's work out. If St. Thomas Walk, which is just nearby Pacific Mansions, can achieve $2,300 psf and above, then the breakeven cost would be around $2,000 psf. Subtracting $400 psf for building and financing costs (this being a higher end area), that's an en bloc price of $1,600 psf. (No development charge is payable for this site).

    The calculations for this site is a bit unusual because they have already built up beyond their allowable plot ratio of 2.8, to 3.84 (but the Government allows them to keep this, hence no development charge is payable).

    At $1,600 psf ppr, the price per strata area would be around (2200/2400 * 1600) = $1,467 psf. Making your friend's unit worth (en bloc valuation) $2.2 million.

    That's still much better than selling it at $780k in 2006 which she would have done if not for having a good friend like you.

    Anyway, history has shown, time and again, that the best advise for properties is: Don't Sell.


  18. #18
    Join Date
    Nov 2008
    Posts
    10

    Default

    How is the soft launch for Espada? sold out yet? Is this condominium or apartment (came across an ad stated as apartment)?

  19. #19
    Join Date
    Mar 2008
    Posts
    181

    Default

    close to 60 units sold as of 2pm today...not too bad...as usual the units that move first are those small units with low quantum...

    However there are still choice facing units...if u are keen to take a look at the showflat, do feel free to drop me a buzz at 81835132 or visit my website at www.lusholmz.com to download the e-brochure.

    Finishing is not too bad...Facilities-wise top class for a D09 condo =)
    IAS avail which makes the project easier to sell out fast...Nothing much you can complain about the location if u enjoy the yuppie lifestyle of D09

  20. #20
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default

    Close to 70 units sold as of today.

  21. #21
    Join Date
    May 2008
    Posts
    9,279

    Default

    only about 10 units sold from friday 2pm till today?

    Quote Originally Posted by Reporter
    Close to 70 units sold as of today.

  22. #22
    Join Date
    Mar 2008
    Posts
    181

    Default

    of cos lah...heard developer adjusted pricing up 4% due to overwhelming response for first 2 days...

  23. #23
    Join Date
    May 2008
    Posts
    9,279

    Default

    how can 70 out of 232 units sold be called overwhelming response???

    Quote Originally Posted by home-run
    of cos lah...heard developer adjusted pricing up 4% due to overwhelming response for first 2 days...

  24. #24
    Join Date
    Jul 2009
    Posts
    1,549

    Default

    Quote Originally Posted by bargain hunter
    how can 70 out of 232 units sold be called overwhelming response???
    Probably only release 30 units at launch, so they overwhelmingly sold 70 units lor.
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

  25. #25
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Sold out rate is 70/30 = 233%?

    Quote Originally Posted by sleek
    Probably only release 30 units at launch, so they overwhelmingly sold 70 units lor.

  26. #26
    Join Date
    May 2008
    Posts
    9,279

    Default

    i was there last friday, all units are available for booking. however, when u see URA statistics next month, they will probably say launched 80, sold 70 or something. LOL.



    Quote Originally Posted by sleek
    Probably only release 30 units at launch, so they overwhelmingly sold 70 units lor.

  27. #27

    Default

    Check out this site for details

    http://www.propertylaunch.sg/Espada.php

  28. #28
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default

    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of November 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Espada .............. CCR ........ 61 ........................... 61 .............................. 2,673 ............. 2,322 ............ 2,180
    Less than 27% sold during launch in November.

  29. #29
    Join Date
    Nov 2008
    Posts
    277

    Default Showroom

    Today I went down to the show room. Strange the 2 bedder is psf is more ex than the 1 bedder. The showroom is so small and I was wondering if the rich would ever want to stay here. The low floor 2 bedder is priced at 2500psf.

    Any comment on the fair psf?

    Regards

    Shaun

  30. #30
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default

    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of December 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Espada ........... CCR ....... 81 ........................ 21 .......................... 2,462 ........... 2,337 ........... 2,170
    Can't break November's launch high of $2,673 psf.

Similar Threads

  1. 16 @ Amber, Freehold, Novelty Group
    By Sinclone in forum District 15
    Replies: 13
    -: 27-10-10, 23:39
  2. LUMA (D9, Freehold, Novelty Group)
    By orange in forum District 9
    Replies: 128
    -: 18-02-10, 22:26
  3. The Axis (D11, Freehold, Novelty)
    By kellysdc in forum District 11
    Replies: 9
    -: 07-02-10, 10:54
  4. I-Residences (D12, Freehold, Novelty)
    By Brandon-Huttons-9852 5624 in forum District 12
    Replies: 33
    -: 08-05-09, 14:44
  5. Lucida (D11, Freehold, Novelty)
    By mr funny in forum District 11
    Replies: 7
    -: 19-11-08, 11:16

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •