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

[eng81157]

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.

lowest yield? u don't even have statistics to back you up. renting a 3 bed condo at $3k? why not i give you $3k and u get me a unit in seaview?

[bullman]

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.

You must be joking man. I have a studio(560 sqft) at Seaview renting at $3200. So renting a 3br unit at 3000 sounds like a fantastic offer?

[bullman]

Hi guys,

Back from the coralis showflat. Really packed and all hyped out. Those studios and 2br units released are being snapped up like nobody's business.

I could not get my high floor 2br as they are releasing the units in phases. Think they reserving those very high floors at "breath-taking" prices. I think when they release the 2nd phase, price will be unreachable. Dun think I can bulldoze my way through liao. Hit a metal wall.

The finishing and quality of fittings look high end.

[SV88]

How much are they selling? Must go there and look see..

Hi guys,

Back from the coralis showflat. Really packed and all hyped out. Those studios and 2br units released are being snapped up like nobody's business.

I could not get my high floor 2br as they are releasing the units in phases. Think they reserving those very high floors at "breath-taking" prices. I think when they release the 2nd phase, price will be unreachable. Dun think I can bulldoze my way through liao. Hit a metal wall.

The finishing and quality of fittings look high end.

[bullman]

Studios start from 1400 psf , 2br from 1360 3br I dun know

[louisebrown]

You must be joking man. I have a studio(560 sqft) at Seaview renting at $3200. So renting a 3br unit at 3000 sounds like a fantastic offer?

According to the URA statistics, the 25th, median and 75th percentile for The Seaview are $3.58, $4.10 and $4.40 psf.
560 sq ft translates to rental of $2005, $2296 and $2464.

[Squall8888]

You cannot see like this one. It depends how many studios are there in a development. Like Seaview, maybe about 10-20% but still must see how many rent studio out. Maybe a 85% percentile will be more accurate. My friend has a Esta 2+1 rented out at 3.3k. But it really seems the yield is a bit depressed there.

According to the URA statistics, the 25th, median and 75th percentile for The Seaview are $3.58, $4.10 and $4.40 psf.
560 sq ft translates to rental of $2005, $2296 and $2464.

[louisebrown]

Sure, it's up to you to see statistics the way they should be seen.
Is the 2+1, a 560 sq ft aprt?

[bullman]

According to the URA statistics, the 25th, median and 75th percentile for The Seaview are $3.58, $4.10 and $4.40 psf.
560 sq ft translates to rental of $2005, $2296 and $2464.

sigh. maybe let me try to explain... were u looking at 09q4 data?

first, it still shows the depressed rental. all you need to do is to call a rental agent and ask for rental at the seaview for a more up to date quote.

second, in this q4, there are not many studios being tenanted and their rental psf will form the 90th percentile onwards.

hope this makes it more understandable.

[louisebrown]

Pl kindly explain to me how $3,200/560sq feet = $5.7 per sqf is mathematically the 90th percentile for The SeaView .

Very soon, the 1Q2010 statistics will be released.

[blackfire]

Pl kindly explain to me how $3,200/560sq feet = $5.7 per sqf is mathematically the 90th percentile for The SeaView .

Very soon, the 1Q2010 statistics will be released.

the rental data in ura website is just an average on psf basis. the percentile is not a reflection of the type of units rented, just a breaking down in terms of 25% division of the rental acheived. for seaview, the studio apartments are relatively few, whereas majority are 3 bedders and 4 bedders, hence you can't determine the rental rates for the studio from the data, for eg: 2 1,560 sqft units rented at $3psf and 1 560 at $6psf, the average will be (560*6+1,500*2*3)/ (1500+1500+560), get the picture?

the best you can determine is the overall rental trend for the project.

[bullman]

Pl kindly explain to me how $3,200/560sq feet = $5.7 per sqf is mathematically the 90th percentile for The SeaView .

Very soon, the 1Q2010 statistics will be released.

Hi bro,

I think you are right. I got it all mixed up. My rental for the studio is only $2600. This is $4.65 psf which will make up the 85-90th percentile. Cheers.

[bullman]

Anyone went down to the coralis showflat?
Many agents there standing around. Some were outside the showflat getting walk in customers?

[louisebrown]

Hi bro,

I think you are right. I got it all mixed up. My rental for the studio is only $2600. This is $4.65 psf which will make up the 85-90th percentile. Cheers.

Hi, good wishes to you. You must own a handful of properties and so got the rates not really in order. I know it's difficult to whip up the right rates when you have handfuls. Nonetheless, thank you for your kind response.

[louisebrown]

the rental data in ura website is just an average on psf basis. the percentile is not a reflection of the type of units rented, just a breaking down in terms of 25% division of the rental acheived. for seaview, the studio apartments are relatively few, whereas majority are 3 bedders and 4 bedders, hence you can't determine the rental rates for the studio from the data, for eg: 2 1,560 sqft units rented at $3psf and 1 560 at $6psf, the average will be (560*6+1,500*2*3)/ (1500+1500+560), get the picture?

the best you can determine is the overall rental trend for the project.

You've got your mathematics incorrect. Percentiles are not averages.

[Wild Falcon]

At this kind of prices in East Coast where tenants are in the 3k to 4.5k range, the rental yield less your maintenance will be pathetic. You rental will hardly cover your instalments. It's probably the area in singapore with the worst yield now.

Studios start from 1400 psf , 2br from 1360 3br I dun know

[Wild Falcon]

This is not the first time I read people announcing "Stay in East Coast means I can hao lian and be high class and atas and proud" . Empty vessels make the loudest noise. Never heard this from people staying in any other areas, even very prime districts.

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

[blackfire]

You've got your mathematics incorrect. Percentiles are not averages.

yap, I got it wrong. Anyway, due to the few units of studios there, the 75% percentile is most likely a 3 roomer.

[jitkiat]

This is not the first time I read people announcing "Stay in East Coast means I can hao lian and be high class and atas and proud" . Empty vessels make the loudest noise. Never heard this from people staying in any other areas, even very prime districts.

Glad I am not the only one thinking alike. East Coast has priced in the future 2020 ERL MRT line & 10mins to Marina Bay story ... that's why the price is so "atas". Indeed, rental yield will justify once MRT is open & Sands is successful. But Coralist is FH ... rental yield lower got excuse

[xebay11]

Price in East Coast is atas as it is a lifestyle place, for me jogging, cycling or blading to EC Park is priceless, don't know what you guys arguing about.

[Wild Falcon]

It isn't that expensive (in terms of absolute price) relative to other places to begin with - but the YIELD is pathetic as it attracts the "budget tenant". I do have a condo in Katong that is rented out. Thank goodness I bought at a decent price. At today's price, the yields is pathetic as East Coast from my experience only attracts the $2k to $3.5 type of "budget" tenant - so investors have to be careful and there're a lot of rental supply here as it is probably one of the most built up/cluttered area in Singapore.

Price in East Coast is atas as it is a lifestyle place, for me jogging, cycling or blading to EC Park is priceless, don't know what you guys arguing about.

[DC33_2008]

This is very similar to Upper Bukit Timah area. When I first rent out my unit 15 years ago, the rental was above $3000 for a two bedders. Now, it is only fetching just above 2k given the competition in the condo belt. It may also affect the condo sale price.

[Douk]

This is not the first time I read people announcing "Stay in East Coast means I can hao lian and be high class and atas and proud" . Empty vessels make the loudest noise. Never heard this from people staying in any other areas, even very prime districts.

dont think he meant that.

It is the people and not the location that give that atas feel. undeniably,east coast is relatively expensive estate that is not under the PRIME DISTRICT list. And many rich people reside in this area, probably that's why it gives ppl the feeling that ppl here is more atas.

Walk around in town, dont the rich people who drive flashy cars also emit that atas feel ??

The convenience in this area cannot be compared with Upper bukit Timah or the Suburb Simei/tampines./Yishun. They are simply not in the same league.

[DC33_2008]

How can it be high class when there are so many HDB flats nearby?

[urban]

How can it be high class when there are so many HDB flats nearby?

Ah... but those flats are among the most expensive flats too...
but anyway, east coast is not prime, even though i stay here.

[Douk]

How can it be high class when there are so many HDB flats nearby?

already said, is the ppl, not the location.

[sealover]

My agent friend just informed me Coralis Stack 1 and 7 ( Studio ) and Stack 4 ( 2 rm ) all sold.

[DC33_2008]

Ah... but those flats are among the most expensive flats too...
but anyway, east coast is not prime, even though i stay here.

I believe only selected flats, for eg. high floors, good view, etc. I heard metallic things do rust given the sea is in close proximity.

[DC33_2008]

My agent friend just informed me Coralis Stack 1 and 7 ( Studio ) and Stack 4 ( 2 rm ) all sold.

Will units at this development able to see the sea?

[DC33_2008]

already said, is the ppl, not the location.

Are you referring to older or younger ones?