*** New Launch: Coralis @ District 15 ***

[blackfire]

Hi bro, thanks for the clarification. So one less risk to worry about.

So that means that just as long you are prompt in the monthly repayment , with no OD line attached and not asking for reprice, then nothing will happen even if the property is in negative equity.

I'm in a bank and this is the current practice by all local banks. In time of property crisis and the banks want to exercise the top up clause, the first department would be corporate loans (real estate related of course) and then consumer loans. Consumer loans would only be flagged out if your payment is late (more than 3 months overdue in general), or otherwise it will be on auto pilot so to say, unlike corporate loans whereby they are subjected to annual review as per MAS regulation.

The setback is however u are unable to refinance to other banks due to negative equity or nego with your current bank for repricing.

[sealover]

Yes I believe that is the case. But I have never experienced it myself. Hopefully, I never will. Haha. But it really depends on whether you believe it will happen or not. Of course, if you call up your banker, they will deny it. They are offer you an umbrella now but may take it back on a rainy day.

IMHO, the bottom line is that you need to have liquid cash to tide the bad times. I try to have 1 dollar of cash ready for every 2 dollars of mortgage that I take from the bank. I also take a 60-70% loan,this is because the bankers will call up those on 90% loan followed by 80% loan etc in that decreasing order in a margin call.

Leverage is a powerful double edged weapon. Being able to buy a 1 mil house using 200k cash is the positive aspect of leverage. Having no spare cash after paying the 20% downpayment is high risk leverage.

Anyway, back to Coralis, agents have stopped collecting cheques for all studios and 2 bedders as they have been 2-3 times over booked wth blank cheques. Congrats to all who have been in the forefront of booking queue.

Hi Bullman,

Are you sure the response is that good, some agents told me still available? I studied the floor/site plan etc and found that the best buy are the 2 rm units facing the front.

[bullman]

Hi Bullman,

Are you sure the response is that good, some agents told me still available? I studied the floor/site plan etc and found that the best buy are the 2 rm units facing the front.

that's what agents from both agencies preach. I think some agents are still collecting cheques in hope that the earlier buyers in the queue drop out. The studios and the stack 4 two bedders are the most hot. Personally, I like the stack 4 two bedders.but think must buy very high floor above 14 in order to clear the hdb in front and have seaview.

What do you think of the funny design with the 2nd toilet just beside the entrance? The master bedroom is very nice located right at the back. Heard that the launch will be on Thursday morning for those who have submitted cheque

[sealover]

that's what agents from both agencies preach. I think some agents are still collecting cheques in hope that the earlier buyers in the queue drop out. The studios and the stack 4 two bedders are the most hot. Personally, I like the stack 4 two bedders.but think must buy very high floor above 14 in order to clear the hdb in front and have seaview.

What do you think of the funny design with the 2nd toilet just beside the entrance? The master bedroom is very nice located right at the back. Heard that the launch will be on Thursday morning for those who have submitted cheque

I doubt u can get seaview as almost 80% are blocked by HDBs even you are on top floor. But you get a decent unblock view all the way to Bedok.

I saw few agents standing around the site last few days doing "farming".

This agent just posted some "insider info" of the showroom @ http://sites.google.com/site/coralis...ade/home/galll

[bullman]

I doubt u can get seaview as almost 80% are blocked by HDBs even you are on top floor. But you get a decent unblock view all the way to Bedok.

I saw few agents standing around the site last few days doing "farming".

This agent just posted some "insider info" of the showroom @ http://sites.google.com/site/coralis...ade/home/galll

Haha. I saw them as well bro. Sometimes I pity them despite the tactics of some of them.

I respect your comments but I truly believe that there will be sea view for the front row very high floor units. I judge this from th eangle that the development is tilt and look at what is in the way. The HDB blocks directly opposite is quite low, so high floor units should clear it. The only problem is the high point block further down. I think its around 20 floor. But even if block , i hope that its only a partial block.

Anyway, I submitted a cheque for the high floor stack 4 units. Agent said very low chance as my queue number is very far back. Just pray and hope and see.

[sealover]

Haha. I saw them as well bro. Sometimes I pity them despite the tactics of some of them.

I respect your comments but I truly believe that there will be sea view for the front row very high floor units. I judge this from th eangle that the development is tilt and look at what is in the way. The HDB blocks directly opposite is quite low, so high floor units should clear it. The only problem is the high point block further down. I think its around 20 floor. But even if block , i hope that its only a partial block.

Anyway, I submitted a cheque for the high floor stack 4 units. Agent said very low chance as my queue number is very far back. Just pray and hope and see.

Plse feedback after your showroom visit to confirm whether the "queue" are real or just one of the commonly used sales tactic by agents.

[Reporter]

got SMS that Coralis going to launch at 1650psf... hah hah..

Suddenly Alto look cheap! its all developer playing perceptions.

Coralis $1,650 psf? My goodness!

[eng81157]

1650psf for 1/2BR or 3BR???

[bullman]

1650psf for 1/2BR or 3BR???

1650 for the studios I think. Got an sms from my agent. He told me that my high floor 2 br stack 4 expect to pay around 1550 psf! At this rate, my legs will be trembling when I enter the showflat on Thursday morning.

[bullman]

Plse feedback after your showroom visit to confirm whether the "queue" are real or just one of the commonly used sales tactic by agents.

From the way TA group price the units now (1450-1650) compared to the initial estimate of (1350-1500). I think that the queue is very REAL. They price so highly as they know that confirm sell out with the number of blank cheques in their hands now. I may faint at the showflat after being shown the price for my high floor 2 br sea facing unit.

[zimmer]

From the way TA group price the units now (1450-1650) compared to the initial estimate of (1350-1500). I think that the queue is very REAL. They price so highly as they know that confirm sell out with the number of blank cheques in their hands now. I may faint at the showflat after being shown the price for my high floor 2 br sea facing unit.

Goodluck bro in getting your choice unit. If you faint, i'll resuscitate FOC

[bullman]

Goodluck bro in getting your choice unit. If you faint, i'll resuscitate FOC

Thanks bro.

Are you going for the VVIP launch on Thursday? That means you hav ealso submitted cheque?

[sealover]

Hi Bullman,

Are you BULLman going to BULLdozer through regardless of the price? I can't wait to see the headline news on Friday Straits Time.

Hope Mr Mah thinks this is not bubble or a small one. But as a D15 investor, I really wish to see bigger bubble.....

[eng81157]

Goodluck bro in getting your choice unit. If you faint, i'll resuscitate FOC

1550 for 2 BR. that's almost a quantum of $1.3-1.4m 'faint'

but well, it's definitely close to amenities, the beach and the future mrt

[sealover]

But come to think of Siglap V Studio is sold about S$16xx psf. TA is not asking too much for Coralis which is much better located.

[Regulators]

i like coralis coz it is freehold but compared to those seaview 99yr condos in the vicinity, this project cant hold a candle. i know not many would go for sea view, but to me that is the only motivation to live in east coast, otherwise why bother...

[roger168]

( Preview Tentatively )

12th-March-2010 10am onwards to 6pm

Pls kindly call to RSVP !!!

Roger - 9061-9884
Elsie - 9799-1127
Paul - 9060-0373

[Reporter]

But come to think of Siglap V Studio is sold about S$16xx psf. TA is not asking too much for Coralis which is much better located.

Agree.

Come to think of Aalto being sold at S$2,xxx psf to $3,000 psf, TA is not asking too much too.

[mcmlxxvi]

i like coralis coz it is freehold but compared to those seaview 99yr condos in the vicinity, this project cant hold a candle. i know not many would go for sea view, but to me that is the only motivation to live in east coast, otherwise why bother...

No... east coast air is cleaner. And the people are more 'atas' (high class, proud, refined whichever term you prefer)... in general.

[bullman]

Hi Bullman,

Are you BULLman going to BULLdozer through regardless of the price? I can't wait to see the headline news on Friday Straits Time.

Hope Mr Mah thinks this is not bubble or a small one. But as a D15 investor, I really wish to see bigger bubble.....

You will see the headline" Kiasu Investor rushes to the front of booking queue and faints after being showed the price"

I was just informed of the price by my agent and it sounds reasonable lah. Not so high after all and still have early bird promotion discount.

[urban]

You will see the headline" Kiasu Investor rushes to the front of booking queue and faints after being showed the price"

I was just informed of the price by my agent and it sounds reasonable lah. Not so high after all and still have early bird promotion discount.

But rush head long without seeing the quality of the project/showflat?

How is the quality of Tiong Aik like?

[sealover]

You will see the headline" Kiasu Investor rushes to the front of booking queue and faints after being showed the price"

I was just informed of the price by my agent and it sounds reasonable lah. Not so high after all and still have early bird promotion discount.

You may be told about the price of the studios which are facing the back, hv you got indicative prices for the two room units facing the front?

[bullman]

You may be told about the price of the studios which are facing the back, hv you got indicative prices for the two room units facing the front?

Yes bro. Its still lower than the back facing studios so makes alot of sense to grab the 2 bedders facing sea

[bullman]

But rush head long without seeing the quality of the project/showflat?

How is the quality of Tiong Aik like?

Not really sure. When I decide to buy a unit, the decision would have been made even before I look at the showflat. They can always make it look nice now and end up very different later. Many such cases. So I normally rush straight to the booking counter and enjoy the showflat after I booked my unit.

[sealover]

Yes bro. Its still lower than the back facing studios so makes alot of sense to grab the 2 bedders facing sea

What indicative price did you get from your agent? Front or back units?

From the way TA priced their Parc Seebreeze i.e. front and back different by S$150 psf. I expect the front facing unit also around $150 psf higher.

[eng81157]

i doubt if you can get a direct seaview. when i was at parc seabreeze, the front facing unit needed to be located at least 14-15 storeys to have a glimpse of the horizon.

factor in the height of parc seabreeze, even if coralis is slanted at an angle, it might be hard to have a clear sea view

[Reporter]

CORALIS
1) Indicative Price
Stack 01 (1 bdrm) : $701,000 (2nd level) to $775,000 (17th level)
Stack 02 (2 bdrm) : $1,174,000 (2nd level) to $1,363,000 (17th level)
Stack 03 (3 bdrm) : $1,650,000 (2nd level) to $1,907,000 (17th level)
Stack 04 (2 bdrm) : $1,101,000 (2nd level) to $1,217,000 (17th level)
Stack 05 (3 bdrm) : $1,622,000 (2nd level) to $1,876,000 (17th level)
Stack 06 (2 bdrm) : $1,174,000 (2nd level) to $1,363,000 (17th level)
Stack 07 (1 bdrm) : $701,000 (2nd level) to $776,000 (17th level)

1 Bedroom 495 – 549 sqft (36units)
2 Bedroom 861 – 1,066 sqft (53 units)
3 Bedroom 1,206 – 1,281 sqft (34 units)

Updates ..........

[Wild Falcon]

The biggest problem with Marine Parade is it's the area with the lowest rental yield in the entire country. At this kind of prices, the rental yield is not even 2%. A 3 bedder can only be rented at $3k or so and would be coming down. So at 1300psf, the yield is 1.8% or so. And everyone keeps talking about Parkway Parade as if it's the best shopping mall in the world. Future MRT is still very far away lah - downtown 3 which runs up Bedok Reservoir is not even announced, let alone other "future" MRT. But yields wise, its epic fail in the area. At the end of the day, fundamentals will take over.

Marine Parade is of different class than those in Bedok just as Marina Bay is of different class than Marine Parade. We are talking about people with different budget not comparing location. Ave psf in Bedok is around $800++, Marine parade $1200++ Marina Bay $2000++.

I heard that Coralis is asking $1350 - $1550 psf. This is in line with The Shore and SilverSea asking price but Coralis is FH. Agents are telling you that the price will shoot up when Katong Mall and future MRT are ready.

Not sure will there be any impact after garment imposed stamp fee and loan limit when they launch next month....

[sealover]

The biggest problem with Marine Parade is it's the area with the lowest rental yield in the entire country. At this kind of prices, the rental yield is not even 2%. A 3 bedder can only be rented at $3k or so and would be coming down. So at 1300psf, the yield is 1.8% or so. And everyone keeps talking about Parkway Parade as if it's the best shopping mall in the world. Future MRT is still very far away lah - downtown 3 which runs up Bedok Reservoir is not even announced, let alone other "future" MRT. But yields wise, its epic fail in the area. At the end of the day, fundamentals will take over.

Hi, plse enlighten me which condo(s) you are refering to?

[sealover]

The biggest problem with Marine Parade is it's the area with the lowest rental yield in the entire country. At this kind of prices, the rental yield is not even 2%. A 3 bedder can only be rented at $3k or so and would be coming down. So at 1300psf, the yield is 1.8% or so. And everyone keeps talking about Parkway Parade as if it's the best shopping mall in the world. Future MRT is still very far away lah - downtown 3 which runs up Bedok Reservoir is not even announced, let alone other "future" MRT. But yields wise, its epic fail in the area. At the end of the day, fundamentals will take over.

From URA rental data, around Parkway Parade, median rent for Cote D'Azur $3.47 psf and Seaview $4.1 which are well above average or even higher than many in D9/10. Don't forget this is without soon to be revamped Katong Mall and new MRT line.