Centro or even scala may come into play. They are actually not too far from the hub if they drive along SLE via CTE.
Centro or even scala may come into play. They are actually not too far from the hub if they drive along SLE via CTE.
Originally Posted by DC33_2008
like that say JB also near the hub .. those at pasir ris ..taking TPE SLE direct to the Hub ..
so if you are a SINGLE expat, working at the hub .. where would you rent ?
mind you i know of expats ..working at sembawang shipyard ... you would think they would rent say Dalla vale or Seletaris ..etc ... they actually renting at newton ...
these are rare cases but seriously if you are a single expat .. and dont mind a MM unit .. where would u rent ?
Single expats may prefer happening place as they may like to go clubbing. Seletar may be too quiet for them. It all depends on their budget. They may just for a hdb flat.
correctOriginally Posted by DC33_2008
most Single expats..will not choose suburbs ..unless they are those nerdy type ..
if nerdy type ..chances are they dont get oversea posting .. so cant be expat ..
single partying expat will choose closer to city ..even if it takes a little travelling ...
why ?
can u find SPGs at seletar ? Yishun?
Go against the traffic direction or go with the traffic flow make hell lots of differenceOriginally Posted by proud owner
Transportation cost, Traffic Jams , Environment effect rental ....
haha I have to agree with you on this one !Originally Posted by proud owner
seen ang mo with SPGs in the lift, and the next day all in the pool.
The 1bd rental concept in GW is very strange. I wouldn't call it total failure now. who knows. but FEO sure is impressive in convincing so many ppl to invest in it.
btw the location of GW has no "greenery" to talk abt. No view at all.
I'm happy for all the houses just in front of this project. Thanks to FEO they all get a cold storage at the door step. And one house is for sale now. VERY reasonable price some more, compared with $1200 psf of FEO. (I'm not agent, u go check out yourself).
the aerohub intends to employ 10,000 skilled workers.
They may not be construction workers but they aren't really "expat" either.
i think they will get some sort of benefits and nowadays HR would classify them as "Local Plus" package.
So, i doubt many will go for newton.
if they arent expats ... who will they be ?Originally Posted by cl0ver
have we forgotten what happened ? when IR's planned to employed 10000 workers ? all buy MM units near IR's, prepared to rent to them ..
and what happened ?
IR arranged with HDB and housed them in Toa Payoh HDB .. those blks were supposed to be torn down but kept for them ..
so ... ?
same same ..
10000 work, 1000 are supervisor,
1000 supervisor, 100 are managers
100 managers, 10 are expats ..
so u go work out .. how many will rent CW, Estuary, or ?...
and how many units looking for renters ? if not for own stay ..
they can always pay 4k..rent a landed house in jalan kayu with 4 bedroom ..and house 4-6 persons ..
there are many old semi D's there .. owned by old folks who cant wait to mvoe out and stay with children .. and collect rent...
that is my point....
i believe they will more likely to rent a HDB room or unit in the Fernvale/Anchorvale vacinity...
The fernvale area is indeed becoming a concrete jungle, Govt is building left, right and centre.
Originally Posted by cl0ver
Expats with families also won't choose suburbs! Why travel so far & get stuck in perpetual traffic jams for themselves, their wifes, their kids to go to school / shopping / work etc? Even more deadly, they definitely can't stand people drying their "flags" on the balconies / windows! You just go any suburbs and you can admire all the "flags" on the condo's balconies / windows / etc!
Originally Posted by proud owner
apparently, tenants staying in surburbs also like to display flags....well adapted orediOriginally Posted by teddybear
Sorry, ang mohs dryed their clothes at the balcony too. You can go see in One Jervois, SeaView, etc.Originally Posted by teddybear
In Australia, you can also see alot of people putting out clothes rack to air their laundry (even when there's a dryer around). My roommate(ang moh) was one of them.
The IRs have opened. But has the property market collapsed? No.Originally Posted by proud owner
These are all strawman arguments - attacking a false hypothesis.
You cannot simply create a strawman, demolish it, and then expect the market to behave like how you expect it to.
the hypothesis is not necessary false, perhaps not yet time.
but the closer we reach $1000-1200 psf avg for the suburbs, the propensity for this to play out increases
Originally Posted by jlrx
i didnt say that prop will collapse ..
my analysis simply shows IR's did not generate the kind of rental demand even with 10000 workers that they are employing
same for aerohub ..
one of the purpose of IR, Hubs etc is to create job for local ...
so 10000 job...easily 75 pct are local ... so will locals living in spore which take at most 1 hr from A to B need to rent ??
thats my point .. they do not create 10000 new renters ..
rivergate also has quite a few residents hanging their flags out.
if u drive along CTE, u will also see it for Park Infinia balconies. (If you are the driver, please don't look, ask your passenger to see. ) not sure if they are locals or foreigners though.
Originally Posted by kane
See, MA not doing their job! According to BSTA, residents are not suppose to dry their clothings anywhere other than their yard area within their own compound (no sticking bamboo sticks outside of the condo units or drying on balconies or outside windows etc!).
Originally Posted by kane
Park Infinia residents got all sort of characters? They got many MM units of 5xx - 6xx sqft!
Originally Posted by bargain hunter
Originally Posted by bargain hunter
Just before TOP, the condos look very nice and neat .. all one color ..
then is begins with local ...upgraders ..hanging their laundry outside
then the non upgraders , after several complain without avail .. also join in
now the condos look messy ...really ugly
then the foreigners .. in an attempt to correct it, also join in the flag hanging ...to make it more uniform, more complete ..
so now the entire block is covered by laundry ... isnt it nice ? multi-colored ...
like venice
The whole problem or cause of ppl sunning clothes at the balcony is that the new co dos all have dark and dingy looking yards that face your neighbours, not getting much of sunlight..... Expat or upgraders, it does not matter
See below for analysis on Greenwich by Colin Tan, head of research and consultancy at Chesterton Suntec International
Recent launch prices for condos in outlying areas way above existing properties
The confirmation of the positive numbers for the private residential sector in Singapore for 2Q2010 appears to have unleashed another wave of buying onto the market.
From landed homes to HDB flats, the market is awash with liquidity. My colleagues in the appraisal department tell me that the rising prices for properties not matched by their valuations have not scuttled too many deals.
In the public housing market, higher cash-over-valuation (COVs) on top of higher prices have also not slowed the rise in the HDB resale market.
With so much cash floating around, I have often maintained that the market is always waiting for a good excuse to renew its buying activity.
That excuse was provided within the past two weeks. The Scala, a 99-year leasehold project near Lorong Chuan MRT station attracted hundreds of potential buyers – or over a thousand according to one report – that balloting was needed to sort out who got to enter the showflat first.
Of course, it helped that a private preview held earlier for Hong Leong staff and other buyers meant that about a third of the units had already been sold before the official launch.
The timing of the launch was also spot on as it came after more stations on the Circle Line from Bartley right through to Dhoby Ghaut were opened for public use. This meant that most residents in the area have already had experience using the new line.
Because the Circle Line serves mainly lower population density areas, there is less overcrowding on the trains. This means that most rides are much more pleasant than rides on the older North-South or East-West lines. To be near an MRT station is already a plus, but to be near the Circle Line is a bonus.
In the following week, the preview of The Greenwich condominium caused a rare traffic jam in the quiet Seletar Hills estate. The showflat closed at 2am the following morning in order to cope with the demand.
It has been a while since we saw such frenzied buying activity. Who are these people who stayed up to the wee hours after midnight to book a unit? Are we seeing the return of speculators to the market?
All the signs are there. On a per-square-foot basis, the reported average selling price of about $1,150 psf for The Scala is about 1.5 times the prices of existing apartments in the area.
One buyer was quoted as hoping for a 10- to 20-per-cent increase in prices within two years. This sounds reasonable, until you realise that he is already paying 50-per-cent more than for existing apartments in the area.
The jump in prices are definitely going to flow through into the third quarter private housing statistics.
The launch price for The Greenwich was at $980 psf on average, rising to $1,025 psf over the weekend – a record for a location so far away from the city centre.
One consultant was spot on when he was quoted as saying “the buyers are those who really like this corner of Singapore”.
Yes, it is really in one corner of Singapore. You need to own a car to live there or it can be pretty troublesome. Most residents in the area prefer living in houses rather than apartments. And the reason why they opt to live so far away from the city is because it is the only way houses can be affordable for them.
Why would someone choose to live in an apartment there when there are more than ample choices of apartments closer to the city with a better public transport network.
By any stretch of reasoning, I cannot see how owner occupiers can justify their purchases at these launch prices. It is also a little too much for investors.
That leaves the speculator, someone who plays the odds in the hope that it pays off and pays off really well. By their own reckoning, they need not depend on other Singaporean buyers. After all, the Chinese are coming. And they are known to pay big. Really big.
By Colin Tan, head of research and consultancy at Chesterton Suntec International
ok lah, PI 500sq ft for 1 bedder not too MM lah. and those face the back and no balcony so not the culprits hahaha.
Originally Posted by teddybear
in the end, even within CCR also gotta see launch price and quality. for e.g. PI and Rivergate could be gotten at 800psf and 1000psf right at the bottom of the market at around 2005. that could mean it attracted upgraders. (not sure if intentional or unintentional). anyway, nowadays, as u said, every category is involved, not just locals, and the management doesn't/can't do anything?
Originally Posted by proud owner
At around 800psf to 1000psf, it was already a high at that time. So, dont' think it was aimed at the upgraders when mass market condos around that time was only launched at 400-600psf. So PI/Rivergate definitely got furnishing aimed at mid/luxury tierOriginally Posted by bargain hunter
off -topic but Come to think of it.. prices have really doubled everywhere in just 5yrs..
if lucky, i would have entered the market around 2005 and imagine what $2mil can get.. or to get my present condo at half the price..
So going forward, is there room for a further doubling of home prices within the next 5yrs..? Unlikely i feel... It will be good if there's a correction ... to make this boom more sustainable for investors.
Last edited by focus; 14-08-10 at 14:09.
Agreed. In the said Parc Infinia with 850 sq ft 2-bedders, the so-called "yard" can't even place a laundry basket - it's that tiny. I know because I went scouting for a super small laundry basket with a friend. It's no wonder everyone dry their clothes at the windows or balconies. Locals or foreign workers all the same. A house has to be practical and functional. I don't understand why people upset about others using eco-friendly methods to dry their clothes. The sun's rays are free and does not emit carbon footprint unlike dryers. Let's not always subscribe to ang moh ideas of sophistication about using dryers.
I know some of the people here has never lived in an HDB flat and therefore look down on "upgraders" and upgraders "bad" habits of harnessing the sun's rays or nature's winds to dry clothes. But it's their house - if they prefer to use eco-friendly methods, so be it.
Originally Posted by stanchan
It is a pity all the recent development and in particular the MM units have been contributing to global warming. Authority should review this. Both Power generation and heat loss to the environment.
This Colin Tan has been talking down the market for the past 3 years. Nothing he says materialises. Also, I find it insulting for him to say that no one will live in a place away from the city center. He should just wake up - not everyone is like him who needs to stay in city center near public transport network. Lots of expensive houses are not that near the city center and not near MRT stations. There is such a thing called automobiles - does he think everyone takes MRT? There are people who likes more rustic places.
Anyway, he has no credibility because his predictions have been consistently wrong.
Originally Posted by BB