I hope properties in OCR and maybe some in RCR don't follow this MBS behaviour. Otherwise, we are all in trouble.Originally Posted by Squall8888
I don't developer will release those units above 30th floor. The time(price) is not right yet.
I hope properties in OCR and maybe some in RCR don't follow this MBS behaviour. Otherwise, we are all in trouble.Originally Posted by Squall8888
I don't developer will release those units above 30th floor. The time(price) is not right yet.
What happen to the light on the curvy side of sail building? It is off at night? So what is the point of having the light?
Suite @ Guillemard already 1520psf. What is so surprising? Anyway, they are selling on location only i guess.
Originally Posted by Reporter
After today?Originally Posted by Squall8888
Some say preview is mid next week leh.
What's the latest?
I heard was today, I'll go have a look this evening.
Probably be around 3k psf.
Preview confirmed on next Wednesday, 25 November.Originally Posted by Reporter
#3x-02 sold for 2800 psf...
wayyy underpriced imho
aiyo very good price liaoOriginally Posted by gfoo
... [double post]
lol i biased mah.Originally Posted by august
but really, there are only 2 condos for the foreseeable future that is immediately fronting the bay. Even MBS has to play peekaboo behind the Sail.
If you look at the masterplan, the back of the Sail/MBS/MBFC is gonna be chock dense with skyscrapers so 'Sentosa facing' or 'sea view' is all rubbish - those buildings like Asia Tower will be built higher than MBS and the Sail.
Even the Sail the 'Sea View' units at the back of Tower 1 is now 'MBS and Asia Tower View', worse than Tower 2 stack 23 onwards.
I tot is 5x-02? Does that mean it is way way under price?Originally Posted by Squall8888
"ng fatt ling yi" sold at $2,800 psf?Originally Posted by dtrax
"ng fatt" means "can't prosper"?
5x-02 is sold last month for 2800psf. Flipped at 3000psf.
3x-02 is paid full in cash. Also at 2800psf.
Preview of Marina Bay Suites next week
Kalpana Rashiwala
The Business Times Weekend
Saturday, 21 November 2009
Marina Bay Suites
After an almost two-year wait, Marina Bay Suites will finally be previewed next Wednesday to VVIPs and invited buyers, BT understands.
Pricing for the preview has not been finalised, but some market watchers suggest it could be a shade below $2,500 psf on average. Others tip the average price at about $2,300 psf. No interest absorption scheme will be offered.
Early last year - when the 99-year leasehold project was expected to be released - the average price was tipped at about $2,800 psf.
The 66-storey condo block has 221 units, comprising 218 3- or 4-room apartments and 3 penthouses.
Three-bedders range from about 1,570 to 1,620 sqft; 4-bedders will be 2,050 to almost 2,700 sqft. The penthouses include 2 duplex units of about 4,700 and 8,100 sqft and a single-level unit of around 5,600 sqft.
Marina Bay Suites was due to be released early last year, but steadily worsening market conditions that culminated in the global financial slump meant the project could not be released in 2008. In March this year, Keppel Land - which is part of the consortium developing the condo - confirmed the project's construction was deferred.
The other members of the consortium are Hongkong Land and Cheung Kong Holdings / Hutchison Whampoa. Marina Bay Suites will be the second residential project on the Business and Financial Centre site, which the consortium bagged in a Singapore Government tender in 2005.
The first residential project - the 428-unit Marina Bay Residences (MBR) - sold out in three days in December 2006. The 55-storey development achieved an average price in the region of $1,850 psf, according to a statement by the developer at the time.
Many buyers flipped their units - in some cases within days of their purchase - for handsome gains as high as $1 million or even more for 4-bedroom units that face Marina Bay.
MBR has one and two-bedroom units in addition to 3- and 4-bedders. The project, along with the neighbouring completed development, The Sail @ Marina Bay, continues to make news in the secondary market. Sources say a 900 sqft bay-front unit on the 50th floor at The Sail sold recently for about $3,000 psf, while a 30-odd storey 4-bedder at MBR facing the bay fetched just above $2,700 psf.
Marina Bay Suites' preview will be held on the mezzanine level of One Raffles Quay.
Done Deals
The Sail @ Marina Bay hits $2,800 psf
The Edge
Monday, 16 November 2009
The Sail @ Marina Bay
The completion of the upcoming Marina Bay Sands integrated resort (IR) next year and the VIP private preview of the 221-unit Marina Bay Suites (MBS) have put the spotlight back on The Sail @ Marina Bay. Sales activity at the 1,111 unit The Sail has picked up pace in recent weeks. 9 transactions were done in the first week of November alone — versus 10 deals achieved for all of October. Prices achieved in the week of Oct 30 to Nov 6 ranged from $1,744 to $2,800 psf.
The Sail was the first residential project to be launched and completed in Marina Bay, and was jointly developed by City Developments and AIG. Tower 1 (the 70-storey Marina Bay Tower with the address 6 Marina Boulevard) was launched in September 2004, followed by Tower 2 (the 63-storey Central Park Tower with the address 2 Marina Boulevard) a year later. Both towers were completed in 4Q2008, in the wake of the collapse of investment bank Lehman Brothers.
Since hitting a low of $1,146 psf in April this year, transaction prices at The Sail have been on a steady uptrend. The record-high achieved in terms of price psf was in April last year, when a 1,033 sqft unit on the 60th floor of Tower 1 went for $3.5 million, or $3,387 psf.
Most recently, a 688 sqft unit on the 58th floor of Tower 1 changed hands at $1.9 million, or $2,800 psf, according to caveats lodged with URA Realis. This is close to the highest price psf achieved so far this year: $2,849 psf in September, when a 936 sqft unit on the 61st floor of the same tower was sold for $2.67 million.
According to a caveat lodged in early November, a larger unit of 1,033 sqft on the 31st floor of Tower 1 changed hands for $2.63 million, or $2,549 psf. The owner made a quick flip, after purchasing it for $2.6 million, or $2,516 psf, in August.
Just a block away is another luxury waterfront condominium — the 428 unit Marina Bay Residences, which is expected to be completed in mid-2010. The residential tower is part of the Marina Bay Financial Centre, a mixed development by the consortium of Hongkong Land, Keppel Land and Cheung Kong (Holdings). When the luxury condominium project was first previewed in December 2006, all the units were sold out at an average price of $1,850 psf within 3 days.
Prices have since surged, hitting a high of $2,700 psf in May last year. The latest transaction at Marina Bay Residences was a 753 sqft unit on the 18th floor, which went for $1.65 million, or $2,199 psf. The original owner had purchased it for $1.53 million, or $2,031 psf, in July, translating into a gain of 8%.
Market expectation is that the luxury segment has room for further price growth, as prices are estimated to be 15% to 20% below the peak level in 4Q2007. Thus, it is no surprise that the consortium held the private preview of the Marina Bay Suites near the end of the year.
URA plans slew of activities to draw locals, visitors in 2010
THE Urban Redevelopment Authority has planned a string of activities next year to attract local and foreign visitors to Marina Bay.
With most of the key features in the area set to be completed during the year, the development agency aims to attract visitors through a series of events dubbed ‘Marina Bay Invitations 2010′.
Kick-starting the series is the Marina Bay Countdown into 2010 on the last day of the year. This will be followed by the opening of the double helix pedestrian bridge and Singapore’s first Art Park, next to the seating gallery of The Float @ Marina Bay, both of which will open by March next year.
In mid-2010, URA will hold a mass walkathon and carnival to mark the opening of the 3.5 kilometre waterfront promenade, which will feature a continuous waterfront loop and dancing water jets.
This will be followed by an urban light festival in the concluding months of the year. And coming full circle – the series will end with the Marina Bay Singapore Countdown 2010/2011.
Source : Business Times – 5 Dec 2009
Why $2,999 psf?
Why not $3,000 psf?
What is $1 psf for The Sail?
Lucky number?
Strange!
The Sail At Marina Bay
Address ................................. psf ................... Area ............ Price ............... Contract Date
2 Marina Boulevard #25-03 .... $2,999 psf ..... 1,033 sqft .... $3,099,000 ...... 30 Nov 09
lol power, i wonder what prices will be like when the whole area ceases to be a construction town and starts to be livable
About 4k for Bay View? I guess so.
It is transacted at 3k psf. URA always cock up one. You can calculate if you want to.
3099000 / 1033 = 3000 psf.
Originally Posted by Reporter
Originally Posted by Squall8888
Your can say it;s a one off for this unit. But there always a reason why it is sold at this price.
Originally Posted by gfoo
Pal, how much your stack going now?
Originally Posted by Property_Owner
I guess you stay in a 861sqft layout
URA cock up but SLA did not.Originally Posted by Squall8888
I think the market is going crazy again. Not just The Sail.
I can sense it through my few monitoring stations placed around the island. There are tremours. Except I don't know what is causing the tremours, or where it is coming from.
The ground is shaking.
It's quite scary.
It is normal.. Sub urban had risen too much. Now, prime and near city areas are catching up..... with a vengeance. I am not surprised if prime area shoot up 20-30% by next year. It is expected because all over the years, if sub urban go up 1%, prime will go up 3-4%. And sub urban has gone up by a quite a bit. Even higher than 2007. So it is a no brainer that prime will be higher than 2007. It's just a matter of time.
I really like your pictures...Originally Posted by jlrx
And yes I feel the "tremours" too. Looks like prime is ready for a spike. Hold your horses guys.
Shit shit shit... it's coming ??!
I dunno about luxury..
But i can also feel the tremors in non-prime Landed... seems like the prices are edging upwards slowly..
Marina Boulevard
#58-03
$1900psf
22 Nov 08
Marina Boulevard
#25-03
$3000psf
30 Nov 09
I meant prices are going to spike upwards very very soon for the luxury and prime segments, or already have if you try to buy currently.Originally Posted by focus