Wah this project sold out within a day!
Wah this project sold out within a day!
When was the preview? Even after the latest regulations changes, the market is still so good? Seems like the cooling measures still not that impactful
actually the talk was 1900psf but newspaper reported 1800psf average sales price. limited units, unique project, ok lah, has its attractions. these buyers also not likely to be affected by the measures anyway.
Originally Posted by august
68 units, prices from 900k... jialat all MM units liaoOriginally Posted by bargain hunter
Citroen's hydractive suspension is for you. Buy Buy Buy!Originally Posted by devilplate
u r right ...all MM....from 484sqft if i rmb correctly.Originally Posted by august
cheapest 484sqft unit really from 900k? work out to be 1860psf
preview/sales was on wed, after the measures. all MM but i guess suitable for that location. mixed development with hotel and concierge wor.
Originally Posted by august
yeah, but that's alright isn't it? when this thread started, talk was 1900psf, so the average 5% below expectations. "priced to sell"?
Originally Posted by devilplate
good tactic deployed...mark up saying 1900psf...Trap those buyers who submitted chq....hahaOriginally Posted by bargain hunter
govt is having headache again!!!! not much impact..... COMMANDO BUYER!!!!! go go go
lots of bargain buyers oredi on a look out.....prices cannot drop alot....too much liquidity
Despite the tougher measures aimed at cooling the property market, a 99-year luxury project, Dorsett Residences, above Outram MRT Station was sold out in one day when it was launched at an average price of $1,800 per sq ft yesterday. But The Straits Times understands that 40 per cent of the 68-unit project was bought by a single buyer.
no wonder average psf only 1800psf...bcoz special discount given to this buyerOriginally Posted by august
Outram Park MRT with 40% bought my a SINGLE buyer? Hmm... Looking at the crowd around Outram Park MRT, I'm not surprised the tenant mix will be quite similar to People's Park Complex
Wah. Now MM with $900k price tag also called "LUXURY" project. I think Singapore's standard of "luxury" is VERY LOW. At least in HK, units need to be above a certain size and quantum to be considered "luxury".
As suspected, MM units are still popular despite the new measures. I think the new measures will drive most investors and PRs (not eligible for HDB because have foreign properties) to the $700k to $1.2 million properties. With the LTV reduced to 70%, the upfront payment ($300k - $350k) is still manageable for most as an investment.
Originally Posted by august
Because these Dorsett buyers did not come to this forum to read the "Victory" speeches by the BEARS declaring victory and the founding of the socialist People's Republic of China.Originally Posted by propertychap
Can afford just buy mentality still there. Somemore near MRT. It is difficult to part away this belief.
Originally Posted by OLY99
Yes of course... I am always on the look out for Good DealsOriginally Posted by rattydrama
I think some are coming just around the corner.
Who will be the likely tenants? What will the rent for a 900K MM unit?
Illegal Casino.Originally Posted by DC33_2008
Illegal Brothel.
Plus Rich Sugar Daddy for China Mistress.
What would be the asking rental? $5k a month?
Anybody knows the proportion of foreign to local buyers.
icon 1bedder around 1mil....ard 570sqft...considered MM in ur context?Originally Posted by DC33_2008
i got MM 4xxsqft (worth 600-700k now) rented out 2.5 to 2.8k in other locations....all holding EP
http://www.skyscrapercity.com/showthread.php?t=1172351Originally Posted by DC33_2008
You also DC33 there. Why you ask?
Wow. Not a bad deal with 4.8% gross return. MM to me should be less than 500sqft.Originally Posted by devilplate
Can broadly understand who is behind our property market after the measures.Originally Posted by Condorich
http://forums.condosingapore.com/sho...26&postcount=1Originally Posted by DC33_2008
Those data have to wait a while. Someone mentioned that 40 units were bought by 1 buyer. Duno true or not.
Despite the tougher measures aimed at cooling the property market, a 99-year luxury project, Dorsett Residences, above Outram MRT Station was sold out in one day when it was launched at an average price of $1,800 per sq ft yesterday. But The Straits Times understands that 40 per cent of the 68-unit project was bought by a single buyerOriginally Posted by Condorich
Sep 3, 2010
HDB flat dilemma for PRs and Singaporeans with property abroad
By Esther Teo & Jessica Cheam
PERMANENT resident (PR) Michael Lim is keen to upgrade to a larger HDB flat but the new rules on dual property ownership have put him in a pickle.
Mr Lim's problem is that he also owns a condominium in Kuala Lumpur that he inherited when his father died. Previously, this would not have hindered his purchase of a resale flat. But now it will.
The HDB announced on Monday that people who buy an HDB resale flat on or after Aug 30 must dispose of their private property - including any held overseas - within six months of the HDB purchase.
The intention is to ensure that HDB flats go to owner occupiers first and are not viewed as an investment. This means Mr Lim, who has been living in Singapore for 10 years, must sell the condo in Kuala Lumpur if he wants to upgrade from a four-room to a five-room HDB flat to fit his family of four.
But his mother-in-law is living in the condo and he has no plans to sell it.
Mr Lim, 33, hopes the HDB will make an exception in his case, given that he did not buy the condo as an investment.
'Malaysia is also our home and it's weird if we go back and do not have a place to stay... It's not fair to make me choose when I have ties to both countries.'
Ms Bhavani Prakash, 40, a PR from India who has a home in Chennai, said the new rules will also deter her from buying an HDB flat.
'The measures are quite draconian. Whether someone owns a property overseas really does not have an impact on the Singapore market... There are other ways to counter speculation,' she said.
There are many other PRs who could find themselves in a similar dilemma.
Experts say a significant number of PRs still have homes in their native countries since overseas properties are often cheaper than real estate here and are not as great a financial burden. A number of them may also have families back home living in those properties.
Ms Prakash's Chennai condo cost her between $200,000 and $300,000 - a quarter of the cost of a suburban condo in Singapore.
ECG Property chief executive Eric Cheng estimates that 40 per cent of PRs - especially those from Malaysia - own homes abroad, while PropNex chief executive Mohamed Ismail puts the figure at up to 30 per cent.
ERA Asia Pacific associate director Eugene Lim believes that more than half of the PRs arriving over the past few years would still have properties back home.
The curbs could also catch out Singaporean retirees with property offshore that they had bought for rental income or retirement. With strong family ties and business connections here, they might also be looking at buying HDB flats for their frequent visits here.
Now, if they want to buy a resale HDB flat, they will have to dispose their overseas real estate or risk penalties by trying to dodge the new rules.
Despite the tougher measures aimed at cooling the property market, a 99-year luxury project, Dorsett Residences, above Outram MRT Station was sold out in one day when it was launched at an average price of $1,800 per sq ft yesterday. But The Straits Times understands that 40 per cent of the 68-unit project was bought by a single buyer.
40% by Single Buyer.. that's really fishy. Why annouce it? Did the single buyer request for it? These news don't come out in the public. The sail had buyers who bought floors, it was mentioned but its not the same, not bundled with 100% sold news.
Whatever it is, the message is 100% sold when it is only 60% sold to others. Single Buyer, most probably related to developer's interest wants the 60% to exercise their options granted.
Thang Dynasty saga in the making??
Is it really sold out? Just saw an advert today in the classified ST by ATI Real Estate Management Is this subsale?
Why called "luxury project" project hah? That place RCR is mid-market only niah.
Originally Posted by Condorich
news... totally unrealiable. as real as they want you to believe.Originally Posted by DC33_2008
I recall in primary school times, we always like to use a term "like real!!"