The Shore Residences (D15, 103 years leasehold, Far East Organization)

[Property_Owner]

then, if thats the case, I don't think is fair to the buyer.... wonder will the buyer know that its a FH land selling as 99LH. Anyway we talk so much also don't know confirm or not, can any agent confirm that it is selling as 99LH? Who knows, maybe at this price, FEO is selling as FH?

What is fair?
Developers had been selling bay window and planters to ''US''. Who set the rules?

[SV88]

then, if thats the case, I don't think is fair to the buyer.... wonder will the buyer know that its a FH land selling as 99LH. Anyway we talk so much also don't know confirm or not, can any agent confirm that it is selling as 99LH? Who knows, maybe at this price, FEO is selling as FH?

Confirm Leasehold. me surprised too. thought was rumour but this is now confirmed! Good for SeaView, Esta and OA..

[nochoice]

Confirm Leasehold. me surprised too. thought was rumour but this is now confirmed! Good for SeaView, Esta and OA..

then guys, for studio unit which will you buy? 1. Seaview F.H 560sf@$750k-$820k. 2. One Amber F.H 570sf@$690k - $740k 3. the Shore 592sf 99 LH@$670k-$7xxk?

[xebay11]

And in 30 years, they will make the owners an offer they can't refuse.

Are you kidding?

[bargain hunter]

I think we should boycott FEO. This is so despicable although they are not the first. The church which owns the freehold land at 8@Mount Sophia also 'leased' it to Frasers Centrepoint for a 103 year lease. However, this is different. This is the developer itself! Frasers Centrepoint had no choice but to sell it as a leasehold. FEO?...pui...shame on them. Buyers should really know what they are buying into. 30 years down the road, Far East will have the bargaining power to buy the en-bloc cheap as the lease ticks down. Other developers will probably not want to en-bloc as they may not be allowed to top up the lease back to 99. For those who think this is not fair, you have a choice, simply don't buy this and buy elsewhere.

Confirm Leasehold. me surprised too. thought was rumour but this is now confirmed! Good for SeaView, Esta and OA..

[sealover]

I don't see the point, even if is LH, a developer has to wait for 30-40 yrs, before enbloc, if then the seller don't agree with the price, then what? the developer has to wait until 90 yrs before FE will take it back?

Learnt from one such Ah Kong, Two important points:

1) Ah Kong can pledge the land ( freehold after 99 yrs ) to secure funding as banks will consider such "freehold land" as VERY secured collateral
2) Ah Kong has a super big freehold plot of land but not interested to develop at one go. So cut off a section to develop first and will think of what to do next later. But this Ah Kong wants to keep the land for his next next next generations so only sell it as lease hold so that his grand grand grand children can take back the land to combine with the original big plot.

[G17]

Are you kidding?

I was half joking. But let's say, in 20 years, when the Shore's value is lagging behind other FH properties like Seaview & OA, what can the owners do? They can't sell to another developer without getting FEO involved. FEO can make the en bloc offer themselves, but at their terms and price.

[SV88]

then guys, for studio unit which will you buy? 1. Seaview F.H 560sf@$750k-$820k. 2. One Amber F.H 570sf@$690k - $740k 3. the Shore 592sf 99 LH@$670k-$7xxk?

My humble advice is to "do your homework". You should check out the floorplan for SV and OA. Do viewing and just buy what you like and believe in. Property purchase can be very personal. Not everyone think alike. SV also has a side-gate to Parkway which makes it really convenient.

[jlrx]

I think we should boycott FEO. This is so despicable although they are not the first. The church which owns the freehold land at 8@Mount Sophia also 'leased' it to Frasers Centrepoint for a 103 year lease.

Learnt from one such Ah Kong, Two important points:

1) Ah Kong can pledge the land ( freehold after 99 yrs ) to secure funding as banks will consider such "freehold land" as VERY secured collateral
2) Ah Kong has a super big freehold plot of land but not interested to develop at one go. So cut off a section to develop first and will think of what to do next later. But this Ah Kong wants to keep the land for his next next next generations so only sell it as lease hold so that his grand grand grand children can take back the land to combine with the original big plot.

These two stories tell us the greatness of everlasting love ...

Only people with a super-long term horizon of view will be willing to forgo short term profits, for the long term benefits of their children, and children of children ...

By selling freehold land as leasehold, it will keep the wealth within the family, and prevent greedy small-time rats (like me) from nibbling profits out of their family's estate.

[Property_Owner]

then guys, for studio unit which will you buy? 1. Seaview F.H 560sf@$750k-$820k. 2. One Amber F.H 570sf@$690k - $740k 3. the Shore 592sf 99 LH@$670k-$7xxk?

I know for sure the shore is out of the list. shesellseashellbytheseashore

[G17]

So, is the showflat completed? If it is ready, I can pop over and have some laksa at the same time.

[echotrain]

I was half joking. But let's say, in 20 years, when the Shore's value is lagging behind other FH properties like Seaview & OA, what can the owners do? They can't sell to another developer without getting FEO involved. FEO can make the en bloc offer themselves, but at their terms and price.

I think this is the deal. Cos you have to get FEO involved even if you want to sell it to another developer?

[nochoice]

I think this is the deal. Cos you have to get FEO involved even if you want to sell it to another developer?

I think if I'm a developer, I also don't want to buy this development, too troublesome.

[SV88]

You can google the site plan for The Shore. It is out now. Good for Seaview, and is a relief to units facing Mountbatten Road.....cool....

[jlrx]

if URA allows this ... then people better buy FH ...

FEO damn smart ... if this is true and goes thru ...other developers will do the same ...

ultimately the big developers will own the island ...

so we die die buy FH .. and landed house

Confirm Leasehold. me surprised too. thought was rumour but this is now confirmed! Good for SeaView, Esta and OA..

This is really very very interesting !!!

Can someone advise whether we can do that with landed property as well?

For example, can I sell my freehold landed house as 99-year leasehold?

[proud owner]

This is really very very interesting !!!

Can someone advise whether we can do that with landed property as well?

For example, can I sell my freehold landed house as 99-year leasehold?

well developers start the trend i am sure in time to come .. landed owners can do the same

so die die buy FH landed ..
as for FH condos .. developers would already have their FH land which they sold as LH ...no need to renew land bank...
and if FH condos owners want to sell to develpoer as LH .. developers can choose not to buy .. and owners can be stuck with a 30 yr old FH condos which they dont have the capital to rebuild ..so they may end up still selling as FH to developers ..

so landed still better

[echotrain]

This is really very very interesting !!!

Can someone advise whether we can do that with landed property as well?

For example, can I sell my freehold landed house as 99-year leasehold?

I am not sure. But how about selling your landed as 30 year lease. Who stays for 99 yrs anyway? Then lower the price. This is equivalent to mickey mouse units for landed! This is mickey lease property!

[jlrx]

well developers start the trend i am sure in time to come .. landed owners can do the same

I am not sure. But how about selling your landed as 30 year lease. Who stays for 99 yrs anyway? Then lower the price. This is equivalent to mickey mouse units for landed! This is mickey lease property!

Good idea!!! I like Mickey Mouse more and more !!!

Now got Mickey Lease !!!

Hmmm ... but isn't that the same as renting out your property? e.g. 2-year lease and ask the tenant to pay upfront the two years' rental at one shot?

So isn't this the same as signing a 99-year rental agreement with FEO as your landlord, but paying all your rental upfront?

Wow ... like that where got fun? Next time cannot do en bloc leh ...

Die liao!!! I better go and check ... one of my "en bloc potential" properties is 99-year !!!

Better check whether it is State land ... if belongs to FEO then die liao !!!

[xebay11]

well developers start the trend i am sure in time to come .. landed owners can do the same

so die die buy FH landed ..
as for FH condos .. developers would already have their FH land which they sold as LH ...no need to renew land bank...
and if FH condos owners want to sell to develpoer as LH .. developers can choose not to buy .. and owners can be stuck with a 30 yr old FH condos which they dont have the capital to rebuild ..so they may end up still selling as FH to developers ..

so landed still better

But is the FH condo is very well located why the developer don't buy? afterall they still buy LH land from Govt right?

[proud owner]

But is the FH condo is very well located why the developer don't buy? afterall they still buy LH land from Govt right?

no i mean developers will still buy LH land from govt

but if the FH land is owned by another developer XXX, then other developer would not want to enbloc them .. unless XXX put it out for sale

[patricia]

can like that meh ?

launch a LH project on a FH land ?

Like taht also can???? Seem like the developers are running our nation. So who is jing-who and who is pseudo jing-who now?

[nochoice]

You can google the site plan for The Shore. It is out now. Good for Seaview, and is a relief to units facing Mountbatten Road.....cool....

why is it "a relief to units facing Mountbatten road" for Seaview?

[Laguna]

Now, there are two classes of 99LH. One is the state land type or not belong to any developers. The other is the Developer holds the perpetual /999 land title.

One must avoid the later.

[xebay11]

Now, there are two classes of 99LH. One is the state land type or not belong to any developers. The other is the Developer holds the perpetual /999 land title.

One must avoid the later.

Possible to check before 1% OTP?

[nochoice]

Now, there are two classes of 99LH. One is the state land type or not belong to any developers. The other is the Developer holds the perpetual /999 land title.

One must avoid the later.

Thats why I still prefer FEO to sell this development as freehold. Actually this development is quite nice and the location is good, if only.....

[peterng8]

Just receive from Far east, THE SHORE at amber road..is it good?

[bargain hunter]

Please refer to "The Shore@District 15/Start Reservation w/cheques now!" thread. In particular, a few of us have concluded that far east may be selling The Shore as a 99 year leasehold on a Freehold plot of land. Be aware and decide whether that is fair or not before you buy.

Just receive from Far east, THE SHORE at amber road..is it good?

[mcmlxxvi]

Thank about it, wait 90 years also still better than not at all.

Ya... good to leave land to sons of sons of sons of MM.... don't break the blood line benefits.

[Property_Owner]

You can google the site plan for The Shore. It is out now. Good for Seaview, and is a relief to units facing Mountbatten Road.....cool....

One agent email me this, not knowing I'm owning a unit in OA

Dear xxx

Good buy for One Amber. Please call me for more information

Price: 1 br start from $1270 Ave, 2 br starts from $1250psf Ave, 3 br from $1150psf Ave
Land Size: 250,000 Sq Ft
Tenure: FREE HOLD
Expected TOP: 2nd Qtr 2010
Plot Ratio: 2.8
No. of Towers: 4
No. of Storey: 23
No. of units: 562

The Shore

Price: 1 br start from $1250psf Ave, 2 br starts from $1230psf Ave
Land Size: 191,037 Sq Ft
Tenure: 103 Years Leasehold
Expected TOP: 31 Dec 2015
Plot Ratio: 2.1
No. of Towers: 6 (A1, A2, B, C, D1, D2)
No. of Storey: 20 (Tower A1 & A1 start from level 7)
No. of units: 408

[Property_Owner]

One agent email me this, not knowing I'm owning a unit in OA

Dear xxx

Good buy for One Amber. Please call me for more information

Price: 1 br start from $1270 Ave, 2 br starts from $1250psf Ave, 3 br from $1150psf Ave
Land Size: 250,000 Sq Ft
Tenure: FREE HOLD
Expected TOP: 2nd Qtr 2010
Plot Ratio: 2.8
No. of Towers: 4
No. of Storey: 23
No. of units: 562

The Shore

Price: 1 br start from $1250psf Ave, 2 br starts from $1230psf Ave
Land Size: 191,037 Sq Ft
Tenure: 103 Years Leasehold
Expected TOP: 31 Dec 2015
Plot Ratio: 2.1
No. of Towers: 6 (A1, A2, B, C, D1, D2)
No. of Storey: 20 (Tower A1 & A1 start from level 7)
No. of units: 408

Hmmm. Is my OA undervalue? Time to increase price?