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Madeira
16-01-07, 20:29
Anyone here knows about Lakepoint condo, which is located next to Lakeside MRT?
The project is more than 20 years old, sitting on 99 leasehold land. But the site is huge, more than 500,000 sq ft. There are about 300 units in the project.

There is some potential for enbloc redevelopment.
But right now, the units are transacted at about average $200 psf, cheaper than most HDB flats of the same age that are located even far from MRT.
The rental returns are reasonable also. A 3 bedroom units fetches about $2100 per month.

This thread is for the information of people who are looking for homes to stay or invest. :)

yes
17-01-07, 01:14
If it is really what you said: $200 psf and it rents for $2,100/mth, then I think it is a great place to invest, if not for the rental yield then for the en bloc potential.

Madeira
17-01-07, 08:18
If it is really what you said: $200 psf and it rents for $2,100/mth, then I think it is a great place to invest, if not for the rental yield then for the en bloc potential.


I should elaborate a bit on the $200 psf.

It sounds cheap on a psf basis. But because the units at Lakepoint are huge, the absolute price is higher. Typically, the 3 bedroom types are about 1883 - 2218 sq ft in size. So a 2218 sq ft unit may cost about 450 - 500 K. Gross rental yield would be about 2100*12/500000, which is about 5%, before deduction of maintenance fees, agent commission etc.

Unregistered
18-01-07, 12:55
It sounds cheap on a psf basis. But because the units at Lakepoint are huge, the absolute price is higher. Typically, the 3 bedroom types are about 1883 - 2218 sq ft in size. So a 2218 sq ft unit may cost about 450 - 500 K. Gross rental yield would be about 2100*12/500000, which is about 5%, before deduction of maintenance fees, agent commission etc.


well i think the enbloc potential will be good... unless there are other residential plots released for sale by the URA in the future in the Jurong area. going by the way they are intent on developing the Jurong area, URA may very likely release more residential plots.

boonlaysg
19-01-07, 09:32
Yes, the devt has enbloc potential, but for a thoughtful developer, does it want to buy another piece of land for development in an already crowded neighbourhood. It will be a case of indigestion if any other developments pop up in the area. Look around the area, there are so many condos already..even the latest kids in the block - lakeshore and lakeholmz will be hard pressed to clear its units.

A MRT stop away, The centris (600+ units) is in the pipeline and will be in the market in 3 years time...

are there really so many HDB upgraders in Jurong who want to continue to stay in Jurong? Are there so many non Jurong Singaporeans wanting to stay in Industrial Jurong?. Are the factories and other businesses in Tuas and Jurong making so much monies and hiring so many people such that there are so many expats wanting to stay in Jurong? For the last question, even the govt has no ready answers.

Land in the industrial west is plentiful,....jurong east area, chinese garden area, even lakeside area.

Conclusion - Yes...enbloc potential...my take is got to wait at least 20 years later. invest if u can wait.

In fact, if i were to gaze into my crystal ball, the very first potential candidate for en bloc in Jurong will not be Lakepoint but ........................

OM MANI PAD MAE OM.

Thanks.

Madeira
19-01-07, 12:12
Yes, the devt has enbloc potential, but for a thoughtful developer, does it want to buy another piece of land for development in an already crowded neighbourhood. It will be a case of indigestion if any other developments pop up in the area. Look around the area, there are so many condos already..even the latest kids in the block - lakeshore and lakeholmz will be hard pressed to clear its units.

A MRT stop away, The centris (600+ units) is in the pipeline and will be in the market in 3 years time...

are there really so many HDB upgraders in Jurong who want to continue to stay in Jurong? Are there so many non Jurong Singaporeans wanting to stay in Industrial Jurong?. Are the factories and other businesses in Tuas and Jurong making so much monies and hiring so many people such that there are so many expats wanting to stay in Jurong? For the last question, even the govt has no ready answers.

Land in the industrial west is plentiful,....jurong east area, chinese garden area, even lakeside area.

Conclusion - Yes...enbloc potential...my take is got to wait at least 20 years later. invest if u can wait.

In fact, if i were to gaze into my crystal ball, the very first potential candidate for en bloc in Jurong will not be Lakepoint but ........................

OM MANI PAD MAE OM.

Thanks.

Many good points in yr message. I guess u r correct that any potential developer would probably wants to wait for lakeholmz, lakeshore and centris to be sold out first before looking at enbloc acquisition in Jurong.

But then, when that happen, the price for Lakepoint would have gone up also.

Another potential project in Jurong for enbloc would be Ivory Heights at Jurong East. Anyone has any comments on Ivory Hts?

Unregistered
15-02-07, 10:50
Well, what about Summer Dale? Very close to Lake point, Lake Holmz, Park Vista and centris.....and an EC now 6 yrs old. Any enbloc potential? 3 bed room rental now is above $2300 and average selling price about $325 psf. Is it worth investing?

Any comments....please


matt

Madeira
15-02-07, 12:22
I think it is worth investing in such units as the rental can cover the monthly installment in full. I suspect rental will continue to rise for Jurong West areas.

Madeira
17-04-07, 13:18
An enbloc feasibility study for Lakepoint Condo will be initiated soon. The approval was given during Sunday's AGM (15 Apr 07). Lakepoint has a site area of about 5 hectares or 538,000 sq ft. This is twice that of the nearby development, The Lakeshore, which has 800+ units. Currently Lakepoint has about 300 units. The site can potentially hold 1600 units if the same plot ratio is used as The Lakeshore. Taking into account redevelopment charges and the amount to top-up the lease back to 99 year, I think each unit will on average receive about $800K based on current market values of surrounding development (Lakeholmz transacted at $450 psf). If the developer is confident of getting $600 psf (The Lakeshore is sold at $600 psf for good units), then the enbloc value would increase to about $1.3 mil per unit.

Current price of Lakepoint in the open mkt is about $450K to $550K for a 2200 Sq ft unit.

Still quite a bargain.

Unregistered
18-05-07, 20:23
Any updates regarding the en-bloc progress of Lakepoint? Do you guys think it will go through successfully?

Madeira
19-05-07, 14:24
Any updates regarding the en-bloc progress of Lakepoint? Do you guys think it will go through successfully?

The enbloc would be attractive if the nearby condos prices can go up abt 10% more.

Unregistered
24-07-07, 21:32
An enbloc feasibility study for Lakepoint Condo will be initiated soon. The approval was given during Sunday's AGM (15 Apr 07). Lakepoint has a site area of about 5 hectares or 538,000 sq ft. This is twice that of the nearby development, The Lakeshore, which has 800+ units. Currently Lakepoint has about 300 units. The site can potentially hold 1600 units if the same plot ratio is used as The Lakeshore. Taking into account redevelopment charges and the amount to top-up the lease back to 99 year, I think each unit will on average receive about $800K based on current market values of surrounding development (Lakeholmz transacted at $450 psf). If the developer is confident of getting $600 psf (The Lakeshore is sold at $600 psf for good units), then the enbloc value would increase to about $1.3 mil per unit.

Current price of Lakepoint in the open mkt is about $450K to $550K for a 2200 Sq ft unit.

Still quite a bargain.


Lakeshore & Centrix are selling at closed to $700 psf now.
Heard that there is some big plan to develop west side to be announced after coming National Day.
Jurong point is definitely one of the busiest Shopping mall in Spore, with the new extension to double it shop space in next 2 years....
River Valley High School will start their new school with hostel there, hopefully MOE can move a few more good primary, JC to Jurong, plus make NTU closer to be part of Jurong....
If they can re-develop Boon Lay, that will be nice...
Lakepoint Condo has a big pc of land, 538000 sf, only around 250 units there...$500k for 2000sf unit, that was transacted 6 months ago, there is no transaction in last 6 months....I saw someone asking for $800k for a 2000sf unit in some property website....

Unregistered
17-03-08, 08:51
Lakeshore is hitting $900 psf now, check URA website.
Chances of enbloc of lakepoint is good in next round of enbloc fever.
Keep an eye, with it's big plot of land super low plot ratio.
Also nice location next to MRT station.

Unregistered
17-03-08, 15:02
Lakeshore is hitting $900 psf now, check URA website.
Chances of enbloc of lakepoint is good in next round of enbloc fever.
Keep an eye, with it's big plot of land super low plot ratio.
Also nice location next to MRT station.

$900psf is history. Now has hit $2000psf,check URA website. Lakeshore enbloc fever heating up although whole island properties cooling down.Catch it while it is red hot.

P.S. I am not an agent

Unregistered
17-03-08, 19:06
$900psf is history. Now has hit $2000psf,check URA website. Lakeshore enbloc fever heating up although whole island properties cooling down.Catch it while it is red hot.

P.S. I am not an agent





You're not an agent, I believe . But are you from any mental institution?

Unregistered
17-03-08, 19:41
Lakeshore & Centrix are selling at closed to $700 psf now.
Heard that there is some big plan to develop west side to be announced after coming National Day.
Jurong point is definitely one of the busiest Shopping mall in Spore, with the new extension to double it shop space in next 2 years....
River Valley High School will start their new school with hostel there, hopefully MOE can move a few more good primary, JC to Jurong, plus make NTU closer to be part of Jurong....
If they can re-develop Boon Lay, that will be nice...
Lakepoint Condo has a big pc of land, 538000 sf, only around 250 units there...$500k for 2000sf unit, that was transacted 6 months ago, there is no transaction in last 6 months....I saw someone asking for $800k for a 2000sf unit in some property website....
Ask agent to sell and go for En Bloc lah..

Unregistered
17-03-08, 20:01
Ask agent to sell and go for En Bloc lah..

there are units available ,go and buy

Unregistered
18-03-08, 08:58
Lakeshore is hitting $900 psf now, check URA website.
Chances of enbloc of lakepoint is good in next round of enbloc fever.
Keep an eye, with it's big plot of land super low plot ratio.
Also nice location next to MRT station.

Buy now or you will regret. Wait no more & buy Lakepoint. Going to enbloc very very soon. Prices now are up & up & up. Snap up one quickly or you will miss the boat

Unregistered
19-03-08, 17:55
March 19, 2008

Low bids, so landed plot in Jurong not awarded

By Joyce Teo, Property Correspondent


IN A keenly watched move, the Government has decided not to award a landed housing site in Jurong West after only two bids came in - both way below expectations.

The top bid for the site, from Boon Keng Development, came in at $11.8 million, or $78 per sq ft (psf) of land area - less than half of what one consultant had expected.

The only other bid for the site, in Westwood Avenue, came from Sunway Concrete Products, which offered even less at $10.33 million, or just $68.10 psf.

The tender for the 14,098.9 sq m, 99-year leasehold site closed a week ago.

Property market watchers had been waiting with interest to see how the Government would respond to such low bids, given the recent slump in market sentiment.

After the boom times seen last year, sale volumes have fallen significantly as buyers and sellers remain on the sidelines.

Cushman & Wakefield managing director Donald Han, who had tipped that the site could have fetched $200 psf, said the Government had been wise not to award the site.

'If you award the site, there will be a downward adjustment of the valuation in the area,' he said.

The price would also be used as a benchmark for future tenders of such sites in the area, consultants said.

Said Knight Frank director (research and consultancy) Nicholas Mak: 'In a market with thin volume, tenders on the confirmed list could invite opportunistic bids.'

Sites on the Government's confirmed list are put up for tender on a specific date.

The Government also sells reserve-list sites, which are put up for sale only when a developer commits to bid a minimum price.

'There are buyers capitalising on the weak property market but there're no fire sales yet,' said Mr Han.

Earlier this year, the Government also chose not to award the tender for a transitional office site in Aljunied because the only bid it received was too low.

Mezzo Development had offered to pay $7.8 million - or a unit land price of $38.35 psf per plot ratio.

Unregistered
19-03-08, 17:57
Why enbloc in JW when there are alot of empty land no takers

Unregistered
19-03-08, 23:47
March 19, 2008

Low bids, so landed plot in Jurong not awarded

By Joyce Teo, Property Correspondent


IN A keenly watched move, the Government has decided not to award a landed housing site in Jurong West after only two bids came in - both way below expectations.

The top bid for the site, from Boon Keng Development, came in at $11.8 million, or $78 per sq ft (psf) of land area - less than half of what one consultant had expected.

The only other bid for the site, in Westwood Avenue, came from Sunway Concrete Products, which offered even less at $10.33 million, or just $68.10 psf.

The tender for the 14,098.9 sq m, 99-year leasehold site closed a week ago.

Property market watchers had been waiting with interest to see how the Government would respond to such low bids, given the recent slump in market sentiment.

After the boom times seen last year, sale volumes have fallen significantly as buyers and sellers remain on the sidelines.

Cushman & Wakefield managing director Donald Han, who had tipped that the site could have fetched $200 psf, said the Government had been wise not to award the site.

'If you award the site, there will be a downward adjustment of the valuation in the area,' he said.

The price would also be used as a benchmark for future tenders of such sites in the area, consultants said.

Said Knight Frank director (research and consultancy) Nicholas Mak: 'In a market with thin volume, tenders on the confirmed list could invite opportunistic bids.'

Sites on the Government's confirmed list are put up for tender on a specific date.

The Government also sells reserve-list sites, which are put up for sale only when a developer commits to bid a minimum price.

'There are buyers capitalising on the weak property market but there're no fire sales yet,' said Mr Han.

Earlier this year, the Government also chose not to award the tender for a transitional office site in Aljunied because the only bid it received was too low.

Mezzo Development had offered to pay $7.8 million - or a unit land price of $38.35 psf per plot ratio.

Sorry, its not awarded. So dont need to talk and write anymore.

Unregistered
19-03-08, 23:49
Why enbloc in JW when there are alot of empty land no takers

Agree, JW is the cheapest residential area. Its cursed.

Unregistered
20-03-08, 00:42
Agree, JW is the cheapest residential area. Its cursed.
No, the government is blessing it.

Unregistered
20-03-08, 13:29
Leading Economic Indicators in U.S. Probably Fell in February

By Courtney Schlisserman

March 20 (Bloomberg) -- The index of U.S. leading economic indicators fell for a fifth month in February, reflecting mounting signs that a recession has begun, economists said before a report today.

The Conference Board's gauge, which points to the direction of the economy over the next three to six months, fell 0.3 percent last month, according to the median forecast in a Bloomberg News survey. The last time the index dropped for as many months was in 1990, when the economy was shrinking.

The leading index dropped as building permits, stock prices and consumer sentiment sank and first-time claims for jobless benefits jumped. Federal Reserve policy makers this week said risks to growth remain even after lowering the benchmark interest rate and making billions of dollars available to banks and securities firms to try to stabilize financial markets.

``A losing streak of five months is usually reserved for recessionary periods,'' said Jonathan Basile, an economist at Credit Suisse Holdings in New York. ``Once the labor market cracks, like it did last month, it shows the cycle is starting to turn down.''

The Conference Board, a New York-based non-profit research group, is scheduled to issue the report at 10 a.m. local time. The 58 estimates in the Bloomberg News survey ranged from a 0.7 percent decline to an increase of 0.2 percent.

Reports so far this month signal the leading index will keep falling. A report from the Labor Department due at 8:30 a.m. in Washington is forecast to show that initial jobless claims rose to 360,000 last week, according to the median survey projection.

Rising Claims

Applications for unemployment benefits last month averaged 359,200, compared with 326,500 in January, according to Labor Department figures.

A 10:00 a.m. report from the Fed Bank of Philadelphia is forecast to show manufacturing in the region contracted for a fourth month in March.

Seven of the 10 components of the leading index are known ahead of time: stock prices, jobless claims, building permits, consumer expectations, the yield curve, supplier delivery times and factory hours. The Conference Board estimates the remaining three: new orders for consumer goods, new orders for non-defense capital goods and the money supply.

Building permits for February fell 7.8 percent to an annual pace of 707,000, the lowest level in more than 16 years, the Commerce Department said on March 18.

The Reuters/University of Michigan index of consumer expectations dropped to the lowest level since 1992 last month and a preliminary reading for March, issued last week, showed the measure is still declining.

Spending Cools

Americans are spending less as pessimism grows. AnnTaylor Stores Corp., the clothing retailer geared toward women ages 25 to 55, last week reported a fourth-quarter loss and said same- store sales may decline in 2008.

The deteriorating economy had a ``major impact'' on store traffic, Chief Executive Officer Kay Krill said in a March 14 conference call.

``Downside risks to the economy remain,'' Fed policy makers said in a March 18 statement announcing the central bank lowered its target for the benchmark rate by three-quarters of a point to 2.25 percent. The Fed has cut the rate by three percentage points since September.

On March 16, the central bank also lowered the rate on direct loans to banks and said it will provide up to $30 billion to JPMorgan Chase & Co. to help finance the purchase of Bear Stearns Cos. after a run on the fifth-largest U.S. securities dealer.

More Funding

Less than a week earlier, the Fed said it would make up to $200 billion in Treasuries available through weekly auctions in exchange for other securities that for the first time will include those backed by mortgages issued by private lenders.

Companies are counting on gains overseas as the U.S. economy slows. General Electric Co. Chief Executive Officer Jeffrey Immelt told investors on March 13 that demand for the company's products from infrastructure projects and growth in Europe, Asia and Africa is helping offset any drag from a slump in the U.S.

``I still believe in the strength of the global economy now, but the U.S. consumer is in a tougher patch,'' Immelt said in a forum on the company's Web site.

Unregistered
04-04-08, 10:59
Why enbloc in JW when there are alot of empty land no takers

Agree, my feel is that en block in Jurong area is very rare. Even if there is it would be few years later as there are still empty land that government can offer.

tericia
29-06-08, 13:29
Hi does anyone know what is the rental rate like for this condo? Comparing to the other projects in the area, this project quite cheap (though i know it's old) and i see the 1800+ sqft and above units starting to sell at $300+ per sqft. Thanks

tericia
03-07-08, 00:21
Hi does anyone know what is the rental rate like for this condo? Comparing to the other projects in the area, this project quite cheap (though i know it's old) and i see the 1800+ sqft and above units starting to sell at $300+ per sqft. Thanks

Adrian
10-07-08, 13:56
The current plot ratios is only at 1.14. If this can be raised to 2.5 or 3 the number of units will be increased to between 700 to 900. If price is god, now will be the time to buy in.

tericia
19-07-08, 22:37
hi adrian, thanks for the reply. can i ask 1) how can i find out if the plot ratio can be increase 2) if the plot ratio increases what kind of ball park prices can we ask for if the place en blocs 3) usually the price that the developer pays, he has to sell at least about double of the per sq foot for them to break even so what's a realistic pricing here (to clarify, realistic pricing can differ from our asking price). i bought a unit already so like to find out more from the experts here what to look out for.

hotswill88
21-07-08, 12:04
hi adrian, thanks for the reply. can i ask 1) how can i find out if the plot ratio can be increase 2) if the plot ratio increases what kind of ball park prices can we ask for if the place en blocs 3) usually the price that the developer pays, he has to sell at least about double of the per sq foot for them to break even so what's a realistic pricing here (to clarify, realistic pricing can differ from our asking price). i bought a unit already so like to find out more from the experts here what to look out for.

How much (psf) did you buy ? Have u manage to rent it out and how much per month ?
I heard that they are forming a Enbloc sales committee, true ? How high is the chance to go enbloc then ?

tericia
24-07-08, 14:51
i bought at a high, bought the 2 bedroom at $500,000. am not renting it out now cuz am staying with my family. indicative i've gotten so far's $2800 for renovated unit (as mine's renovated) but anyone reading this please do your double checking.

en bloc committee is to vote soon so have to see how the results are though hope that i can stay a while cuz of all the trouble i took to reno. still if price is good i don't mind but so far no one knows

tericia
28-07-08, 13:32
the en bloc sales committee has been elected and formed. the meeting was quite interesting since it was my first time seeing what happens in one.

the tension was much less than what i expected though since the press was sensationalising how bad the arguments will get but generally it is still between those who cherish their homes and those who are taking the chance to see if they can earn some $.

those who asked to be in the committee to investigate what kind of direction we can go are quite well qualified though. i see PHD and Masters holders + a good mix of residents who stayed here for sometime (more than 5 years) already. So i think i at least satisfied that we don't have a skewed group that may eventually cause some trouble in the scouting process.

one very interesting event that happened during the meeting though was that an Australian actually got up to argue against forming the committee (or at least he sounded like he was arguing against in my personal opinion though some may say he was just asking all of us to think very carefully about this) cause he quite rightly pointed out that what we have here is something no where else can replace (eg quietness due to thick walls, space for kids to run and enjoy etc).

i think times are hard even now and it's not gonna get better so we have to respect both sides, the ones who want to stay and the ones who are trying to get more $ for security sake.

interested
29-07-08, 17:23
the en bloc sales committee has been elected and formed. the meeting was quite interesting since it was my first time seeing what happens in one.

the tension was much less than what i expected though since the press was sensationalising how bad the arguments will get but generally it is still between those who cherish their homes and those who are taking the chance to see if they can earn some $.

those who asked to be in the committee to investigate what kind of direction we can go are quite well qualified though. i see PHD and Masters holders + a good mix of residents who stayed here for sometime (more than 5 years) already. So i think i at least satisfied that we don't have a skewed group that may eventually cause some trouble in the scouting process.

one very interesting event that happened during the meeting though was that an Australian actually got up to argue against forming the committee (or at least he sounded like he was arguing against in my personal opinion though some may say he was just asking all of us to think very carefully about this) cause he quite rightly pointed out that what we have here is something no where else can replace (eg quietness due to thick walls, space for kids to run and enjoy etc).

i think times are hard even now and it's not gonna get better so we have to respect both sides, the ones who want to stay and the ones who are trying to get more $ for security sake.
So, will this news affect the price of Lakepoint positively ???? any comments....

tericia
29-07-08, 23:43
one of the resident during the half hour discussion (before the voting) actually asked a very pointed question on why someone would be willing to pay us more when there is much empty land around jurong. that was something i think someone else in condosingapore.com asked as well.

it was a point i was also pondering on quite a lot as i also feel it was impossible that someone would give us more when there is plenty around for less.

however, another resident who was a property professional (it was stated in the summary of people whose names are put up to be voted into the sales committee) replied that lakepoint is within 300m of an mrt, which means the land is under a different classification. so we can apply to raise our plot ratio from 1.4 to 3, but for how much we don't know yet(cuz lakeholmz and lakeshore apparently their plot ratio is 3 or more, but those reading this please double check again cuz i'm also lost on this plot ratio issue and am still trying to find out how we know all these statistics).

moreover, at present even without plot ratio increase the number of units that can be rebuild can go up to triple of current amount cuz there are 3 blocks (4,6 and block 8)which contains the townhouses so basically only 2 tall blocks (block 2 and 10).

so i gather from this the number of total units available for the buyer should be substantial (how many am also not sure since it was not stated out at the meeting, just generic Q&A). still these guys who were interested to be in the committee look very hopeful (and qualified too) so it will be good to see how they work out the sums.

EBD
30-07-08, 10:16
one of the resident during the half hour discussion (before the voting) actually asked a very pointed question on why someone would be willing to pay us more when there is much empty land around jurong. that was something i think someone else in condosingapore.com asked as well.

it was a point i was also pondering on quite a lot as i also feel it was impossible that someone would give us more when there is plenty around for less.

however, another resident who was a property professional (it was stated in the summary of people whose names are put up to be voted into the sales committee) replied that lakepoint is within 300m of an mrt, which means the land is under a different classification. so we can apply to raise our plot ratio from 1.4 to 3, but for how much we don't know yet(cuz lakeholmz and lakeshore apparently their plot ratio is 3 or more, but those reading this please double check again cuz i'm also lost on this plot ratio issue and am still trying to find out how we know all these statistics).

moreover, at present even without plot ratio increase the number of units that can be rebuild can go up to triple of current amount cuz there are 3 blocks (4,6 and block 8)which contains the townhouses so basically only 2 tall blocks (block 2 and 10).

so i gather from this the number of total units available for the buyer should be substantial (how many am also not sure since it was not stated out at the meeting, just generic Q&A). still these guys who were interested to be in the committee look very hopeful (and qualified too) so it will be good to see how they work out the sums.

Having gone through an enbloc excercise I can see you are up for some disappointment. CSC's will always paint the rosiest of pictures. You need to start looking at sites like http://www.hope4stayers.com/ (http://forums.condosingapore.com/) just to hear the other side of the story & what kinds of nonsense goes on before signing your home away.... once your names on the CSA you wont be able to get it off. (other than 5 day cooling period).

Plot Ratio.
This is set out in the masterplan. In the latest 2008 plan just released, it didn't increase. There is no guarantee that lobbying the URA will see any change in the plot ratio, and realistically with all the empty land nearby that the government wants developed, this is your only chance to get any sale prices worth considering.
I am not considering signing the CSA until the plot ratio has been increased to it's maximum level, if you do, the CSC will have the authority to sell away your home at the reserve price. Dont be tricked into signing first on the promise they will get the plot ratio of 3. Insist they have it first and show you a letter confirming as much from the selected lawyers if this is one of your criteria for signing.

If they plot ratio is not increase, dont be fooled into thinking that you can develop more units because of the town houses etc.
The developer will only be allowed to make as much as the current Gross Floor Area, regardless of how that is currently configured, i.e. duplex's townhouses etc.... They can then build lots of tiny apartments but are still bound by the same GFA. Where's the enormous benefit to the developer? Next door plot is empty, cheaper & faster to aquire, doesnt have cost of demolishing the old buildings.

This will only be attractive to enbloc after the surrounding plots have been consumed and then the plot ratio increased.

This is really the key. The other arguments put out are typical fear mongering and should be ignored. Having served on my old condo MC for many years it was hard not to laugh at the blatant desperate fear mongering in the circular letter put out by the pre CSC team.
Tennis courts being resurfaced described as a disaster. Give me a break, this is called periodic maintainance.... a little hint, it's what the maintainance fee is for! You move elsewhere, they also have facilities to be maintained, watch out for all the potential disasters in your new condo too!
The maintainance fund at AGM was proposed to be increased by 12% .... wow $50 to $56, 2 plates of chicken rice, and probably has been static for years for 50 (though being new to lakepoint, I'm not sure of this, just a gut feel from experience elsewhere)
99 years lease...... erm, everyone new it was 99 yr leasehold when they bought it! come on, this is a suprise to you all? Can buy freehold to pass onto the next generation..... really? with enbloc I am living proof that is not so.


as for the qualification level..... Not impressed. Bsc in physics, chemistry etc... how is that relevent to property sales? In the CSC of my old development we had lawyers, architects, business owners, multiple property owners, good old fashioned well heeled speculators who could see a bargain and knew how to operate. People who are already independently wealthy, no desperados who need the sale. Our neighbours had a very poor CSC and ended up getting everyone who had signed collectively sued (another reason to stay in the minority)

They got a ridiculously high price, but mainly because the market was really hot (it's now as dead as dead can be) and location,location,location. Downtown orchard area, there is no spare land for developers to buy. You want to build something, you need to buy from the enbloc market. At lakepoint..... well look at google earth and you get the picture pretty fast.


By the time we got the money property downtown had doubled and couldn't realise any gains in property.... but that is another story. My old home was downtown district 9. I have to move out here to be able to hold onto any of the money without getting another mortgage. You will be competing with all your old neighbours to buy the same nearby developments at the same time. Supply-demand will ensure whatever the marketing agent tells you about replacement property is not true by the time you sell.
Go figure where you will have to move to if your starting point is Jurong.... JB perhaps?



At the end of the day you have to decide what your objectives for signing are. I would recommend you be cautious and get educated as you can and get legal advice before signing anything, not just the mandatory lawyer that comes with the new legislation. CSC's will push hard for signatures.
At the EOGM held to explain our CSA they tried getting people to sign before leaving the room!!!! amazing. sign away your rights in 5 mins flat.

I may even be up for the collective sale if the conditions are right eg reserve price of 1000psf/plot ratio, but as it stands right now , from someoone with experience in this matter, it really doesnt look attractive at all. Let's see what the reserve price comes back as.


One last thing. It also creates unpleasant environments. This will happen, don't think it wont. Going home will be like running the gauntlet of people asking have you signed, you must sign, you musn't sign, it gets old really quick.

EBD
30-07-08, 10:24
So, will this news affect the price of Lakepoint positively ???? any comments....

normally yes. It will build i a premium from speculative action if the market is hot.

In fact when you look at other enbloc targets in the east coast, even though the market is dead and they dont have a realistic hope of selling even if they hit 80% support, people who bought into speculate will just keep this thing rolling forever. Why? if they have to get out by selling the unit by itself, they need the extra cushion, the speculator types will have bought in at a premium and need to keep the facade of enbloc going, otherwise the price will correct downwards and they will lose substantial money. And the sad thing is as soon as one effort has come to a close with no takers and the 12 months is up, there is nothing to stop the process repeating immediately.

However the market is now kind of stagnant. All the lots nearby are empty, it will take a really dumb speculator to believe they can make money knowing the governments plans for the area. Then again, there's one born every minute......

tericia
30-07-08, 12:10
Hi EBD, thanks for the much needed advice. i'm very new at this so am open to see how the whole situation works out. Very frankly, i knew i bought my home at a high so somehow, i may make a loss if sold at the wrong time (either through en bloc or personal sale) but when you have a family and your landlord asked for high rental rates ($1100 for just a room), i had to act somehow.

Coming in as a new resident i'm against the en bloc cuz i really hate to move my family again so soon and hope to stay at least 7 years or more before thinking about new location. However, as with everyone, if good amount of $ is dangled in front of me, it is hard to resist too cuz more $ means more security esp in these tough times.

Once again, thanks for the advice and i will look out for these factors with the CSC.

EBD
30-07-08, 15:19
Hi EBD, thanks for the much needed advice. i'm very new at this so am open to see how the whole situation works out. Very frankly, i knew i bought my home at a high so somehow, i may make a loss if sold at the wrong time (either through en bloc or personal sale) but when you have a family and your landlord asked for high rental rates ($1100 for just a room), i had to act somehow.

Coming in as a new resident i'm against the en bloc cuz i really hate to move my family again so soon and hope to stay at least 7 years or more before thinking about new location. However, as with everyone, if good amount of $ is dangled in front of me, it is hard to resist too cuz more $ means more security esp in these tough times.

Once again, thanks for the advice and i will look out for these factors with the CSC.


Your welcome, bottom line is you have to do what is right for you and your family.
Not what is best for stayer, pro enbloc etc...
Do lots of homework, read around what has happened/ is happening elsewhere.
Don't allow anyone to pressure you into a decision one way or the other.

We got lucky in timing and price, our neighbours sale is a disaster for them, they would have got more per unit on the open market by not getting involved in the collective sale.
You can win big, you can lose big. By lose I mean not in absolute $$ which cannot happen, but in terms of what you can get afterwards with the sale proceeds.

Unregistered13
30-07-08, 20:14
Your welcome, bottom line is you have to do what is right for you and your family.
Not what is best for stayer, pro enbloc etc...
Do lots of homework, read around what has happened/ is happening elsewhere.
Don't allow anyone to pressure you into a decision one way or the other.

We got lucky in timing and price, our neighbours sale is a disaster for them, they would have got more per unit on the open market by not getting involved in the collective sale.
You can win big, you can lose big. By lose I mean not in absolute $$ which cannot happen, but in terms of what you can get afterwards with the sale proceeds.


Are they building a showflat in the empty plot of land next to Lakepoint? If yes, when is it going to be launched? Heard Frasers Centrepoint last won the bid for the plot. Cheers.

tericia
31-07-08, 00:10
am not sure but yup, heard that there is a showroom building there now. Details will probably be clearer when it's launched (we can all go and see) and interesting to find out how much they will launch it at since Lakeshore still selling on a very high as well.

hotswill88
01-09-08, 11:13
am not sure but yup, heard that there is a showroom building there now. Details will probably be clearer when it's launched (we can all go and see) and interesting to find out how much they will launch it at since Lakeshore still selling on a very high as well.
Anyupdate ?

tericia
17-09-08, 20:06
hehe, with the other threads for west having people condemn the air, land and people in the west, you still interested (joking la)? Anyway, they're putting the sign boards up but i saw Frasers Centerpoint also got sign up. Did not investigate whether it's 2 different projects building side by side or the same one. Please double check.

tericia
03-10-08, 23:44
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!

Unregisteredmmm
04-10-08, 04:08
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!

get lost chao chee by

Unregistered999
04-10-08, 09:31
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!
do you know that a disaster in the economy is going to cause a lot of people their jobs? do you know that a lot of people will suffer? and yet you have been long awaiting for it to happen just because you are hoping for property prices to drop??? you must be the most inhumane, self-centred and conceited idiot i come across!!

Overstreched
04-10-08, 10:00
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!

Yes. Death to the over streched. Pray they jump down from their condos and die!

Be careful
04-10-08, 10:40
Yes. Death to the over streched. Pray they jump down from their condos and die!

Be careful with what you said. Your god is watching you.

EBD
04-10-08, 11:05
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!

Dont worry about the "quality" replies you will get. Crisis always present great opportunities to those who have positioned themselves properly. After my place went enbloc in late 2007, virtually no-one bought prime property , in fact most didn't buy any property with the proceeds as we expected the prices to be heading south as the credit crunch starts reeking its effects into asia.

Some of the responses you will be getting will be from people who are way over leveraged and could lose everything.
Apparently it's ok for these guys to be happy that prices shot up at your expense, but not ok for you to be happy they are coming down.

As for re-entering the market, I am beginning to look too, but really have no intention of buying for another 6 months to a year. I will monitor stockm banks and property transactions closely.



ps, do you know what is happening with the sale committee? I saw the notice from July 27th about selecting potential lawyers and agents (missed out the biggest 2 in my opinion). Our enbloc had the agent and lawyer in 2 weeks. It's now 2 months at lakepoint, did I miss a notice? If not this is a telling sign. We tried enbloc in 1999 in the aftermath of asian economic crisis, agents basically told us "no chance" and didnt want to waste their time. This was for prime district 9 property. I have my suspicions about what is going on, but clarification from SC would be much better.

tericia
04-10-08, 20:54
Hi EBD! So far nothing from the sales committee. I last asked someone in the condo MC what's happening she said nothing cuz no one's willing to take up this project in the current situation so that's good news for me actually. After taking up so much time to renovate the whole house, am really quite happy staying here for a while.I think when people in condo say they feel it's a downgrade to live in HDB, i understand. Every afternoon when i've nothing to do, i go to the gym, have a swim. Neighbours are friendly. It's really a boom staying in this kind of environment.As for the prices, i'm also starting to look again. May not even buy anything till 5 years or more since the last time after 1997, it took more than 5 years to bottom out. Hopefully this rescue package makes things even worse for US, then it's really shopping time! Yeah!As for those who are suffering in this coming recession, am really sorry. Not my intention to irritate you. Just happy i get to do what i wanted to for a while but the sky rocketing prices last year really threw everything out of the window.For those who are over stretch am sure if they survive this episode, they will come out of this much better than everyone else, so hang on.

forget abt en bloc
05-10-08, 00:30
the en bloc will not take plc look at all the stocks of property and losses they have to write off better quickly sell before it get worse, remember more supply new flats pple will be willing to pay old houses will drop this is a fact and also be careful there is already a large supply in west ad centris coming up and new one just launched.. not good

Unregistered444
06-10-08, 10:47
Be careful with what you said. Your god is watching you.
agree. those who wish ill of others will have ill befall on themselves. though i don't think well of flippers, it is not right to wish ill of them. after all, in all property transactions, it is a buy and sell situation. if you think a property is overpriced, then don't buy, simple as that. no one asks you to put your head on the chopping board.

kudos to you.
06-10-08, 11:45
Hi EBD! So far nothing from the sales committee. I last asked someone in the condo MC what's happening she said nothing cuz no one's willing to take up this project in the current situation so that's good news for me actually. After taking up so much time to renovate the whole house, am really quite happy staying here for a while.I think when people in condo say they feel it's a downgrade to live in HDB, i understand. Every afternoon when i've nothing to do, i go to the gym, have a swim. Neighbours are friendly. It's really a boom staying in this kind of environment.As for the prices, i'm also starting to look again. May not even buy anything till 5 years or more since the last time after 1997, it took more than 5 years to bottom out. Hopefully this rescue package makes things even worse for US, then it's really shopping time! Yeah!As for those who are suffering in this coming recession, am really sorry. Not my intention to irritate you. Just happy i get to do what i wanted to for a while but the sky rocketing prices last year really threw everything out of the window.For those who are over stretch am sure if they survive this episode, they will come out of this much better than everyone else, so hang on.

Kudos for those overstreched.

Unregistered1122
06-10-08, 12:39
Just an update, the project beside lakeside mrt is by Fraser's. Am not sure how their quality is so anyone who can give a comment would be appreciated.

The long awaited disaster in the economy is finally coming! So am sure those of you (you know who you are) who are waiting for prices to drop, this is the time to slowly start hunting.

Yipee!

With the construction of the Fraser project, will the price of LP drop cos' of noise, dust, foreign workers etc.?

SGA 901 nissan.
06-10-08, 13:00
Kudos for those overstreched.
kudos to you too. good luck!

Unregistered4
06-10-08, 13:25
Hi EBD! So far nothing from the sales committee. I last asked someone in the condo MC what's happening she said nothing cuz no one's willing to take up this project in the current situation so that's good news for me actually. After taking up so much time to renovate the whole house, am really quite happy staying here for a while.I think when people in condo say they feel it's a downgrade to live in HDB, i understand. Every afternoon when i've nothing to do, i go to the gym, have a swim. Neighbours are friendly. It's really a boom staying in this kind of environment.As for the prices, i'm also starting to look again. May not even buy anything till 5 years or more since the last time after 1997, it took more than 5 years to bottom out. Hopefully this rescue package makes things even worse for US, then it's really shopping time! Yeah!As for those who are suffering in this coming recession, am really sorry. Not my intention to irritate you. Just happy i get to do what i wanted to for a while but the sky rocketing prices last year really threw everything out of the window.For those who are over stretch am sure if they survive this episode, they will come out of this much better than everyone else, so hang on.
perhaps you may be the first to lose your job.

Cars & Cars.
06-10-08, 13:33
Also the LEXUS ,MITSUBISHI, MAZDA & FORD . Too many numbers to remember. The only unit with the house extensively renovated. Good luck.

Enblock
06-10-08, 17:19
FYI.. THE MC chairman of this LP which owns a lot of phones already sold his place last yr ! He is a firm believer of enbloc and have yrs of experience running the place etc..
So, for those whom still believe this place have enbloc potential... Gd luck !
PS : With even seragoon gdns hosting only 600 FTs.. suspect jurong will be the next target for big scale hosting of Fts since the MP have supported it citing no objections from the grassroots for yrs ! So .......

laguna
06-10-08, 17:31
Also the LEXUS ,MITSUBISHI, MAZDA & FORD . Too many numbers to remember. The only unit with the house extensively renovated. Good luck.

Lucky he doesn't stay at Laguna Park, or else sure kena scratch by chairman one... hahahahahaha

Unregistered1212
06-10-08, 20:42
FYI.. THE MC chairman of this LP which owns a lot of phones already sold his place last yr ! He is a firm believer of enbloc and have yrs of experience running the place etc..
So, for those whom still believe this place have enbloc potential... Gd luck !
PS : With even seragoon gdns hosting only 600 FTs.. suspect jurong will be the next target for big scale hosting of Fts since the MP have supported it citing no objections from the grassroots for yrs ! So .......

Heard Ivory Hts also trying very hard for enbloc but so far no gd news leh...

LagunaPark
07-10-08, 00:05
Agree with you ... reckon those at IH are not as desperate as those at Laguna Park !
Some goes as much as making a list of those not signing and take revenge on their cars. Think better avoid such places !

tericia
07-10-08, 12:49
With the en bloc going through or not, the rules end of the day's set by the authorities. So we all have to play by the rules and seriously i think the gripe for me is the fact that life in Singapore's really tough. Whether we still have our jobs or our homes is something we all have to manage everyday, not only during en bloc periods. Kudos should go to all Singaporeans who take the time to write in and air their views be it good or bad because, we are the "stayers", not the "quitters". Lakepoint is really a nice place to stay in but unfortunately i also agree the odds are currently stacked against it for the en bloc. That just means home (which these days becomes a commodity as well) is here for a while longer.

tericia
30-10-08, 23:55
looks like frasers home may be either delaying or cancelling the launch. they covered the signs at the entrance to the canal and the number they advertised no one answered when i called.

EBD
03-11-08, 12:14
looks like frasers home may be either delaying or cancelling the launch. they covered the signs at the entrance to the canal and the number they advertised no one answered when i called.

Yup, I don't think I ever saw anyone visit frasers home site either.

Any news from Sales Committee? Seems there is zero news, I don't see any minutes posted on the notice boards..... I thought these group of people were going to work hard to unlock the value.... blah blah blah...
My guess is they cant even get a sales agent.

I may try emailing them later see if any response at all. i think address is [email protected]
Even in a good market enbloc of lakepoint is totally not realistic in my opinion with so much spare empty land nearby.


btw I am keeping a lookout for adverts in straits times property for lakepoint units, would be interesting to see if any sales committee members are trying to secretly offload them..... have seen this behaviour in a few other SC's in doomed enblocs.

tericia
03-11-08, 14:57
quite amusing that you are actually more interested and more informed than i am about my own condo. i personally think they can't do anything in this climate though i hope with the next peak, they can do more than just try (like this time). i would prefer to move closer to town so am tracking town units rather than jurong side. but i must say i really enjoy staying here so far cuz the big spaces really help and though it's a short walk to the mrt i don't hear the tracks like lakeholmz. i just found out one of my neighbour is actually someone who goes around buying condos then after that try to enter the sales committee to convince everyone to enbloc, thereby making $$$. it's "nice" to see these people creating a lot of distraction and negativity.

EBD
03-11-08, 21:07
Now what makes you think I don't live there too?

tericia
03-11-08, 21:47
haha, well this makes really good conversation then. What made you decide to move all the way here? You were from town (district 9) if i do not remember wrongly. Anyway, do you have any other properties besides this (assuming you stay at lakepoint)? Thought it would be good to exchange pointers. Cheerio!

EBD
03-11-08, 22:41
I was in down town. Easy answer is ...... enbloc..... All the prices move up before you get your check and you have to move further out. So if LP goes enbloc, I guess everyone moves to JB. But realistically it wont, not even next cycle, not until all the land is occupied nearby.

Ok, thats only half true, we could buy another apartment right now, but there would be zero gain in doing so, so why bother. Originally intended to wait out here 1-2 years for prices to drop, but looking at the whole world financial mess it may take considerably less time as people who over leveraged themselves (you already met them earlier in this thread.... you know, the ones hurling abuse because some people want the prices to correct or even crash) start to go bankrupt.

So waiting for this to play out, it's almost like 1998 all over again. Stocks crash first, then real economy starts to suffer, then property plunges as the naive find out anyone can make money in up cycle, its how smart you are to position yourself before or during a plunge that counts.

Until then, will be staying at lakepoint, watching with amusment at the enbloc circus that rolled into town here.
eg. periodic resurfacing of tennis courts = disaster!..... not regular maintainance. These people are amateurs.....

tericia
04-11-08, 13:30
haha, i haven't been inside a tennis court for a long time so am not sure how the surfacing's suppose to be like. Am sure residents can give pointers on how to make the place even better till the time comes for us to enbloc. I doubt the situation's that bad now (even though i know some say fire sales coming, but like where?!?) and my feel's 1997's still rather fresh in many people's minds. So this time round i hardly see anyone over stretch themselves before doing some serious calculations + have months of sleepless nights before they commit to any property (even as price kept going up previously), like me. I hardly met anyone who was speculating this time unlike 1997 this time and most of them were very conservative. Those who so called were upgraders most of them actually only took baby steps (like 3 room move up to 4 room) rather than jump straight into expensive condos immediately. I suspect prices will be sticky for couple of years at least if not till 2011 before we see 2004/ 2005 prices again. Was looking at the charts recently especially great depression. Bottom was in 1932/ 1933 about 4 years after 1929 crash. History's been repeating itself consistently so far based on empirical data. Hopefully the launches coming out in 2010/ 2011 will cause serious damage to the property sector, that would be fun to watch and start bargain hunting. I know i'll start getting abuses again but end of the day, it's all about security and wealth. I would like to see more people jumping over sooner than later so i don't have to wait another 10 years before i see the money.

Prof Lilian Ng (NBS, NTU)
04-11-08, 15:13
haha, i haven't been inside a tennis court for a long time so am not sure how the surfacing's suppose to be like. Am sure residents can give pointers on how to make the place even better till the time comes for us to enbloc. I doubt the situation's that bad now (even though i know some say fire sales coming, but like where?!?) and my feel's 1997's still rather fresh in many people's minds. So this time round i hardly see anyone over stretch themselves before doing some serious calculations + have months of sleepless nights before they commit to any property (even as price kept going up previously), like me. I hardly met anyone who was speculating this time unlike 1997 this time and most of them were very conservative. Those who so called were upgraders most of them actually only took baby steps (like 3 room move up to 4 room) rather than jump straight into expensive condos immediately. I suspect prices will be sticky for couple of years at least if not till 2011 before we see 2004/ 2005 prices again. Was looking at the charts recently especially great depression. Bottom was in 1932/ 1933 about 4 years after 1929 crash. History's been repeating itself consistently so far based on empirical data. Hopefully the launches coming out in 2010/ 2011 will cause serious damage to the property sector, that would be fun to watch and start bargain hunting. I know i'll start getting abuses again but end of the day, it's all about security and wealth. I would like to see more people jumping over sooner than later so i don't have to wait another 10 years before i see the money.
Are we near the kind of economic difficulty faced during the Great Depression? The US economy today is much stronger than it was in 1929 and the fundamentals are still pretty strong regardless of the crisis we're in.

If you look at the numbers, they are so dramatically different. GDP growth in the US is about 1% and I'm sure it will fall but it is nothing like the -27% during the Great Depression. Unemployment is about 6.1%, but during the Great Depression it was 25%.

Today's world is very different from the Great Depression period - there is greater linkage between fiscal policies and the economy than before and all policymakers are working together. So we are not even close to the level of difficulties faced then.

tericia
04-11-08, 18:52
If you are really Prof Lilian Ng and you are really a professor, i'm deeply honoured that you took the time to answer. I'm glad Condosingapore.com has people like you. Though i do agree that the policy makers are now working together to remedy the situation, the problem now is we do not know if the remedy solves the problem quickly or it just drags the economy through a long period of low growth. I suspect the situation may become a U shape recovery rather than a V shape one. The situation in US is bleak as towns get shut down because everyone's foreclosed. Because this situation starts from everyone losing their biggest asset: their homes, i feel it's not just losing pocket change. A home in absolute amount is a large sum for people to lose. That said fundamentally Singapore is in a good position now and i do agree it is possible the recovery for us may be much shorter than expected especially with China now in the picture when they weren't there before. However, both US and Europe are affected, this in my opinion will dilute any impact China would have on us. Moreover, the IR, F1 and Youth Olympic were expected to have positive impact but now we are not really sure if they would make any impact at all, even if they open on time. The debt that US carries is also a worry as they now put more $ into the markets to try to stabilise them, but where is the money coming from? If the time comes where they are expected to pay up is during this 5-10 years, my opinion is this will accumulate into another great depression or worse because during the great depression, US didn't have trillions of debt. So my opinion's it'll take us probably another 10 years before we see the light and it will take probably 10 years or more for things to clear up.

Question
04-11-08, 19:08
If you are really Prof Lilian Ng and you are really a professor, i'm deeply honoured that you took the time to answer. I'm glad Condosingapore.com has people like you. Though i do agree that the policy makers are now working together to remedy the situation, the problem now is we do not know if the remedy solves the problem quickly or it just drags the economy through a long period of low growth. I suspect the situation may become a U shape recovery rather than a V shape one. The situation in US is bleak as towns get shut down because everyone's foreclosed. Because this situation starts from everyone losing their biggest asset: their homes, i feel it's not just losing pocket change. A home in absolute amount is a large sum for people to lose. That said fundamentally Singapore is in a good position now and i do agree it is possible the recovery for us may be much shorter than expected especially with China now in the picture when they weren't there before. However, both US and Europe are affected, this in my opinion will dilute any impact China would have on us. Moreover, the IR, F1 and Youth Olympic were expected to have positive impact but now we are not really sure if they would make any impact at all, even if they open on time. The debt that US carries is also a worry as they now put more $ into the markets to try to stabilise them, but where is the money coming from? If the time comes where they are expected to pay up is during this 5-10 years, my opinion is this will accumulate into another great depression or worse because during the great depression, US didn't have trillions of debt. So my opinion's it'll take us probably another 10 years before we see the light and it will take probably 10 years or more for things to clear up.
If you are the US government, what would you do?

tericia
05-11-08, 17:46
Hi Question, thanks for asking. I feel i'm not at the position to be able to comment what i would do if I'm the government as i don't know what resources i've and i've not done any work at that level before. However, after some thought i like to ask Prof Ng when she wrote, "The US economy today is much stronger than it was in 1929 and the fundamentals are still pretty strong regardless of the crisis we're in", what are the fundamentals you are referring to? I'm also curious what are the indicators you look at. Are we still referring back to a simple interest rates versus inflation like all textbook states or is the situation a lot more complex than that. GDP growth is one indicator but if we are to go through long periods of low growth or the U shape recovery results in slight negative growth for 5 years or more, then there must be something in the GDP that academics can point out to be roughly the main reason why GDP is not moving up. Another point i would like to make is though i agree with Prof Ng that, "Today's world is very different from the Great Depression period - there is greater linkage between fiscal policies and the economy than before and all policymakers are working together. So we are not even close to the level of difficulties faced then", usually when there is interference, there will be deadweight loss. Currently the precedence in all data and results has not shown 1 command economy or any interference from the government that produced a result that is worth considering. I personally feel the deadweight loss resulted from policymakers will cause a longer than needed bear market. If that is the case, we will still see a bottoming out of the economy in the next 3-5 years, which is the best time for bargain hunting. Unless anytime before that another crisis strikes.

Barack Obama
05-11-08, 21:46
If you are the US government, what would you do?
I will answer you in January next year.

Thxs
05-11-08, 22:54
Thxs for generating interest here. You must be seller looking to sell..
Me too !

Unreg¡stered
06-11-08, 09:39
Thxs for generating interest here. You must be seller looking to sell..
Me too !
Which joker is generating interest? More like having their own discussion.

EBD
07-11-08, 18:59
Thxs for generating interest here. You must be seller looking to sell..
Me too !

Generating what interest? The enbloc is as dead as it's going to get. There is zero activity as far as I can see on notice boards from SC (the people who promised to work so hard for you..... blah blah blah).

I see so many jokers now desperately trying to sell failed enbloc in ST on saturday, still try to use enbloc potential in the ad. So funny, which sucker would believe now?

tericia
09-11-08, 13:42
Actually, you can't blame them. Think some of them were so over sold on the en bloc idea, they now find it hard to see it in pieces so soon after the "height" of the sales meeting. Anyone reading the right reports + with experience will know rocketing property prices are what they are: rockets. Rockets die as quickly as they start. Most of my friends or contacts that were thinking they can wait for prices to rise even more are now worrying if they can even off load their property at break even price. It's tough to be hopeful then see what you thought was possible gone in a moment.

tericia
13-11-08, 12:22
i wonder who's gonna buy if it's $1000 psf. It will be interesting to see how it pans out.



To all condo owners in Jurong West,


Congrats to all of us. The $1000 psf price has come to town!


Saw this advert on the new development at Lakeside by Frasers Centrepoint.

http://www.propertyguru.com.sg/listing/254296/for-sale-lakeside-new-project

EBD
13-11-08, 12:35
i wonder who's gonna buy if it's $1000 psf. It will be interesting to see how it pans out.

I wonder how old the advert you linked to is. I guess there's one born every minute.

EBD
12-03-09, 19:51
AGM coming soon.

I wonder if we can expect any of the antics seen at bayshore park or mandarin gardens were the enbloc comittee try to make the place unliveable and prevent maintainance by blocking motions and cramping management budgets.

I hope not, they should realise enbloc cannot happen now with the state of the economy and credit crunch.

Especially as caspian next door has gone for a price that makes enbloc unfeasable for developers.

tericia
13-03-09, 15:58
It would be poor strategy for the "punters" to make the place unliveable. We cannot guarantee that someone would be interested in this plot of land as there is much empty land around Jurong.

If the time comes where the market upturns where there is a chance for profit taking and no one wants to buy the place en bloc, then making the place unliveable would also guarantee that individual units would not fetch an attractive price. No one wants to live in a place that looks like a “hand me down”.

You are right about that the qualifications of the committee members do not represent how savvy they are about selling the project. Based on another committee member (a stayer), those (one of the most qualified member) eager to push for an en bloc suggested we remove all the CCTV as there is no crime committed so far. Well… what can I say?

It may or may not be a good thing if the whole lakeside area becomes a “Hillview” area, a congregation of condos. The competition may actually help profile us more since we are technically the cheapest around here.

Still if they are so narrow minded about it even though our maintenance fees are already so low for such a big place, then I think they would make the whole experience a disaster.

EBD
18-03-09, 16:47
It would be poor strategy for the "punters" to make the place unliveable. We cannot guarantee that someone would be interested in this plot of land as there is much empty land around Jurong.

If the time comes where the market upturns where there is a chance for profit taking and no one wants to buy the place en bloc, then making the place unliveable would also guarantee that individual units would not fetch an attractive price. No one wants to live in a place that looks like a “hand me down”.

You are right about that the qualifications of the committee members do not represent how savvy they are about selling the project. Based on another committee member (a stayer), those (one of the most qualified member) eager to push for an en bloc suggested we remove all the CCTV as there is no crime committed so far. Well… what can I say?

It may or may not be a good thing if the whole lakeside area becomes a “Hillview” area, a congregation of condos. The competition may actually help profile us more since we are technically the cheapest around here.

Still if they are so narrow minded about it even though our maintenance fees are already so low for such a big place, then I think they would make the whole experience a disaster.


You make the assumption that people trying to sell enbloc care.
My understanding is that the Lillian Ng earlier in the thread, if it really is her, is not a resident of lakepoint. Owners in this category won't have to put up with the degradation of the estate if they choose to try and make like bayshore park and mandarin gardens.

It's a standard tactic, but one that puts it at odds with the requirement of the MCST to upkeep the place, which is why the mandarin garden MC was smart to refuse to stand for election. Quite frankly it also puts them in danger of being legal action.

I am not suprised that they want the CCTV cut. You certainly don't want to be caught gluing peoples mailboxes shut like at Laguna Park :doh:
How much do you think it would actually save?

And where is the progress!!!!!!! My old place already got agent and lawyer in 2 weeks after forming. And reportage to owners of the status. You see any?


As for the BS the previous poster claiming to be Lillian Ng was spouting.... the market has spoken.

I'm not against enbloc per se, but it's not the right time, it's not the right price - underscored by caspian and reflected in plummeting property prices, and it's really not the right team. Hope the banks don't start calling them for top ups :scared-3: haha.


ps we should also make sure MC gives out details of NEA contact number to all units. I am seeing increase in mosquito numbers since caspian started.
And noise way past 10pm.

tericia
19-03-09, 16:36
I am new to this en bloc issue but if the experience tells me anything, I see that most do not think about their strategies before jumping onto the train of big money. You might get the money but the train will kill you too if you leap blindly.

We are not talking about a simple sum of a few hundreds a month, like a simple insurance plan. Even that, many people in Singapore has problems coming out with that sum without investigating thoroughly the issues at hand. Seriously, those who cannot even part with some monies to prepare for their future deserve the future they get.

Here at lakepoint, it is the other way round, or the start of it. Some treat the en bloc issue too lightly. Come on, if done right, we all will get more than many even dream off. In my opinion, the planning was done haphazardly and it was quite kan cheong during all the hype.

Risking the fact that some will say I am doing back seat driving (or back seat criticism) here, at least those who feel they are in for the buck should allow some space for personal gains, whether they stay here or not. If the en bloc turns out to be a dud, which is what is happening, at least give those who want out the ability to cash out at the highest possible. After staying here for a while, I must say I will like the place to be in as pristine a condition as possible because it is a lovely place to be.

If the estate turns out to be a mess, we will all be stuck. Only those who have more than one apartment and have the holding power can wait out till things turn for the better, maybe. From what I see, those in the sales committee or MC are mostly the ones with only one place, that is lakepoint is the only home they own, unlike most of the watchers. We are watchers also because we are not here all the time; we can go somewhere else when the situation presents itself. They stand to lose the most if this place goes down while the rest of us can just peacefully go somewhere else while just renting our apartments out.

tericia
27-06-09, 23:53
heard the committee trying for the en bloc again. Wonder if it is true and who would buy...

EBD
28-06-09, 09:32
heard the committee trying for the en bloc again. Wonder if it is true and who would buy...

Why bother buying from us? So much empty land nearby.

hotswill88
10-07-09, 10:39
Why bother buying from us? So much empty land nearby. If cheap sales, why not ? but then no owner will agree, right ?

proud owner
10-07-09, 10:43
If cheap sales, why not ? but then no owner will agree, right ?

by the way where is Lakepoint ?

tericia
10-07-09, 16:17
haha, well... say also no use. Cheap sale, no one wanna sell. If not got a lot of empty land around so who would buy right? Think most probably place will run till lease expires.

hotswill88
16-07-09, 16:24
haha, well... say also no use. Cheap sale, no one wanna sell. If not got a lot of empty land around so who would buy right? Think most probably place will run till lease expires.
The new Caspian sells like hot cakes................so, is price of lakepoint also on the up-trend ?

EBD
16-07-09, 17:35
The new Caspian sells like hot cakes................so, is price of lakepoint also on the up-trend ?

price is down

Ask yourself why caspian sell like "hotcakes"

because the price very low.


There is so much empty land here. You want enbloc, the land has to disappear first. Developer will by empty land from government at lower price than us and not have costs of demolition on top of it.

Some people here really need to wake up their idea man.

enbloc downtown as no land left.

tericia
22-07-09, 17:45
actually i've grown to like the place a lot. Quiet + my unit can see all the way to Jurong Port so i really feel happy when i'm home. So i hope the en bloc doesn't happen at all at least in the distant future.

EBD
23-07-09, 15:57
me too.

although I don't get the same view as gazing over Orchard and Marriot the size is big and the grounds spacious.

But enbloc is so unrealistic given empty plots of land in nearby location.
If the "work hard for you" sales committee can find an idiot developer to pay twice as much as nearby empty land then great. Otherwise it will be along time to come.

I personally like the space more the modest dollar gain enbloc would bring.
Also replacement units would be smaller and more expensive.
Enbloc hardly ever benefits the owner-occupier, only condo raiders.

Wolverine77
24-07-09, 00:42
LAkeshore has a 3.5 plot ratio empty residential land.

lakeside mrt has another big plot of land behind

Chinese garden mrt has another 2.1plot ratio land

JE Swimcomplex has another piece of empty land

When will lakepoint condo or park view condo be enbloc, not in another 15 years?

Give up the dream!

tericia
18-08-09, 09:51
me too.

although I don't get the same view as gazing over Orchard and Marriot the size is big and the grounds spacious.

But enbloc is so unrealistic given empty plots of land in nearby location.
If the "work hard for you" sales committee can find an idiot developer to pay twice as much as nearby empty land then great. Otherwise it will be along time to come.

I personally like the space more the modest dollar gain enbloc would bring.
Also replacement units would be smaller and more expensive.
Enbloc hardly ever benefits the owner-occupier, only condo raiders.


looks like prices are on the upswing again. If the recovery follows, then the committee's gonna be resurrected from the dead.

EBD
18-08-09, 13:00
looks like prices are on the upswing again. If the recovery follows, then the committee's gonna be resurrected from the dead.

When was the date that the sales committee was formed? I think they only get a year to put something together or it's dissolved automatically.

Anyhow, it doesn't change the fact that there is plenty of empty land around lakepoint. Developers will buy that first. Cheaper and less hassle.

Even after that is done in say 10-20 yrs time, we should not go enbloc until the plot ratio is raised. Selling to a developer at 1.4 plot ratio would be really stupid.

tericia
20-08-09, 14:46
When was the date that the sales committee was formed? I think they only get a year to put something together or it's dissolved automatically.

Anyhow, it doesn't change the fact that there is plenty of empty land around lakepoint. Developers will buy that first. Cheaper and less hassle.

Even after that is done in say 10-20 yrs time, we should not go enbloc until the plot ratio is raised. Selling to a developer at 1.4 plot ratio would be really stupid.

ok lah, don't say anymore. Wait people come and comment this comment that. Like we don't know jurong got a lot of empty land like that.

tanumy
20-08-09, 15:21
EDB: u full of nonsense. don't know anything and keep on saying.....



When was the date that the sales committee was formed? I think they only get a year to put something together or it's dissolved automatically.

Anyhow, it doesn't change the fact that there is plenty of empty land around lakepoint. Developers will buy that first. Cheaper and less hassle.

Even after that is done in say 10-20 yrs time, we should not go enbloc until the plot ratio is raised. Selling to a developer at 1.4 plot ratio would be really stupid.

EBD
20-08-09, 15:26
EDB: u full of nonsense. don't know anything and keep on saying.....


oh no, the guy from woodbridge just turned up......

is DBR next door so you can get your medication easily?

tanumy
20-08-09, 15:27
EDB: shut ur mouth. u know nothing.



oh no, the guy from woodbridge just turned up......

is DBR next door so you can get your medication easily?

EBD
20-08-09, 15:33
EDB: shut ur mouth. u know nothing.

I guess you are off the at the moment...... a little grumpy today. hahaha.

great come back by the way, a modern masterpiece of wit and comedy.:doh:

tanumy
20-08-09, 15:37
EDB:

U are such a irritating person. DOn't know anything beside complain.
From now on wards u r the complain king hahahahhaa:banghead:


I guess you are off the at the moment...... a little grumpy today. hahaha.

great come back by the way, a modern masterpiece of wit and comedy.:doh:

EBD
21-08-09, 11:40
EDB:

U are such a irritating person. DOn't know anything beside complain.
From now on wards u r the complain king hahahahhaa:banghead:

oh dear.... you still don't understand.

Please find where anyone else who gets the treatment you are getting.
You haven't worked it out, you are obviously a little slow.

Let me make it clear. You hijack almost every thread and shout buy DBR.

Don't worry about me, I'm in good company. You think I am the only person to spot your shameless behaviour? You have made yourself the laughing stock of this board with your own actions, we are all just pointing it out to you.

Now keep banging your head against that wall until you knock yourself unconscious, that way you can finally contribute something positive. (think very hard about what this means, you may not get it straight away)

tericia
22-08-09, 00:24
oh dear.... you still don't understand.

Please find where anyone else who gets the treatment you are getting.
You haven't worked it out, you are obviously a little slow.

Let me make it clear. You hijack almost every thread and shout buy DBR.

Don't worry about me, I'm in good company. You think I am the only person to spot your shameless behaviour? You have made yourself the laughing stock of this board with your own actions, we are all just pointing it out to you.

Now keep banging your head against that wall until you knock yourself unconscious, that way you can finally contribute something positive. (think very hard about what this means, you may not get it straight away)

I feel the property market will move up for a while unless the end year or early next year the real recovery (as many would call it) doesn't come about. Then there may be a possible dip. When the recovery in economic production sets in, prices would have to move up some more (MV = PQ) as current stocks get cleared. Even with the current flush of liquidity from US, prices will move up regardless of a production recovery or not, as some school of thought would say.

I wrote about it in the "Heritage View asking 1 m for 1163sqft?" thread but seems everyone's quite set that prices are going to go down but i think so far based on my personal assessment, chances are prices will keep moving up. I remembered i was eagerly waiting for prices to collapsed but after waiting for half year since end '07, i see that it most probably won't come down anymore at least for the next 2 years. I know some may shoot me for this but these prices we are seeing now may be set to stay permanently. Whether people can afford them or not, i don't know. But if there are buyers, local or otherwise, then the developers don't really need to care if prices go up to $4000 psf.

My view's that a buy now wouldn't be so bad regardless DBR to ZBR. I not supporting using irritation but it's ok to be enthusiastic about a project, or in tanumy's case hyper enthusiastic.

We should all work together rather than against each other. Let's all focus on sowing productive seeds and help each other look out for possible ways to accumulate more wealth.

My best regards to both of you.

EBD
23-08-09, 12:42
Hey Tercia, always nice to see your point of view.

I recently bought a replacement unit , FH 4 bedroom, down in River Valley. I managed to grab it just as asking prices began to explode. 9 Years old. Don't know if it's the smartest or dumbest thing I have ever. I guess time will tell.

I still see this bubble popping, but not until interest rates go up.
The real rise is coming form developers pushing the price. Banks are willing to match those valuation - hence its "affordable" to buyers.
Secondary market requires cash for the difference between bank valuation and asking price. There's alot more that can be negotiated downwards & not many will have the extra cash. This is the only place bargains can be had right now IMHO, & only then if you latch onto a weak holder.

I wonder how many of those buying form developers have really thought about what happens 5 years from now with interest rate.

Until then I will continue to enjoy the rise in equity markets. I personally dont worry about "missing the boat" on property as stocks and securities seem to be rising even faster. I'm sure in a couple of years even if things don't turn out as expect in the local property scene, I'll still be relatively ahead.
Just need to keep watching all fronts and not be afraid to change our minds when reality changes.


As for LP, we still intend to keep Lakepoint. It's kind of grown on me. It's really hard to get anywhere with this kind of feeling of space anymore.

Sorry but the other guy was just getting out of hand. His first 35 posts was all on DBR no matter the thread. Just an annoying agent. Plenty others also annoyed with her too.

tericia
23-08-09, 15:24
Hey Tercia, always nice to see your point of view.

I recently bought a replacement unit , FH 4 bedroom, down in River Valley. I managed to grab it just as asking prices began to explode. 9 Years old. Don't know if it's the smartest or dumbest thing I have ever. I guess time will tell.

I still see this bubble popping, but not until interest rates go up.
The real rise is coming form developers pushing the price. Banks are willing to match those valuation - hence its "affordable" to buyers.
Secondary market requires cash for the difference between bank valuation and asking price. There's alot more that can be negotiated downwards & not many will have the extra cash. This is the only place bargains can be had right now IMHO, & only then if you latch onto a weak holder.

I wonder how many of those buying form developers have really thought about what happens 5 years from now with interest rate.

Until then I will continue to enjoy the rise in equity markets. I personally dont worry about "missing the boat" on property as stocks and securities seem to be rising even faster. I'm sure in a couple of years even if things don't turn out as expect in the local property scene, I'll still be relatively ahead.
Just need to keep watching all fronts and not be afraid to change our minds when reality changes.


As for LP, we still intend to keep Lakepoint. It's kind of grown on me. It's really hard to get anywhere with this kind of feeling of space anymore.

Sorry but the other guy was just getting out of hand. His first 35 posts was all on DBR no matter the thread. Just an annoying agent. Plenty others also annoyed with her too.

I have confess humbly that i wish i would be able to say that i bought a district 9 property like you one day. After that i wish i would be able to say i bought a district 9 4 bedroom property (then after that say i bought a FH).

So far due to lack of current funds, i most probably going to miss the boat. I understand your point about not worrying too much about missing the boat, yet the point about prices going up (stocks, securities, property) really worries me. Even if property rises the average 6% every year, as the quantum gets bigger and bigger, the absolute amount for 6% jump also moves up faster and faster.

Unless there's a catastrophe now, pay wise, savings wise, i don't think i'll be able to move anywhere closer than district 5 (which is where i came from). Even then, it's possible i may have to sell first then buy so that i've funds. Sigh...

For those who write in the other threads that they are waiting for prices to drop, i really have a bad feeling about this. Maybe they are also enthusiastic about certain projects like Tanumy so the only thing they can do is write (haha like me), not buy.

Read the saturday's papers and saw an owner selling his 2217 unit for $500/psf. Though good news for sellers, bad news to buyers like me for now.

Hope things really turn to favour people like me in the next 5 years.

EBD
23-08-09, 15:46
Owners can ASK for whatever they want.
Latest transaction in Aug 09 is 361psf.

There was one owner asking 50% more psf than I paid & totally out of line with current transactions. Guess he can tan ku ku.




I have confess humbly that i wish i would be able to say that i bought a district 9 property like you one day. After that i wish i would be able to say i bought a district 9 4 bedroom property (then after that say i bought a FH).

So far due to lack of current funds, i most probably going to miss the boat. I understand your point about not worrying too much about missing the boat, yet the point about prices going up (stocks, securities, property) really worries me. Even if property rises the average 6% every year, as the quantum gets bigger and bigger, the absolute amount for 6% jump also moves up faster and faster.

Unless there's a catastrophe now, pay wise, savings wise, i don't think i'll be able to move anywhere closer than district 5 (which is where i came from). Even then, it's possible i may have to sell first then buy so that i've funds. Sigh...

For those who write in the other threads that they are waiting for prices to drop, i really have a bad feeling about this. Maybe they are also enthusiastic about certain projects like Tanumy so the only thing they can do is write (haha like me), not buy.

Read the saturday's papers and saw an owner selling his 2217 unit for $500/psf. Though good news for sellers, bad news to buyers like me for now.

Hope things really turn to favour people like me in the next 5 years.

tericia
04-09-09, 14:27
Owners can ASK for whatever they want.
Latest transaction in Aug 09 is 361psf.

There was one owner asking 50% more psf than I paid & totally out of line with current transactions. Guess he can tan ku ku.

Hi EBD, just wanna ask when someone comes along and buy enbloc, what exactly he is paying for? I'm just thinking let's assuming i'm a upcoming investor looking at a low density project in district 9, 10 and 11 (say 40 - 100 units). What's to stop me from buying up 1 unit at a time then becoming either the owner of the whole project or the majority owner and controlling the whole estate and doing what i want with it: re - develop, pay to top up the lease etc or sell it wholesale at a good time and i get to say what price i want.

By the time the owners know about me, i would have avoided needing to pay the enbloc price but i get to decide cuz i'm now own more than let say 50% of the project.

Just curious.

SL
04-09-09, 20:11
No so simple lah.. neighbours know each other.. when one by one starts to sell, they will exchange notes on the buyers. And you think agents are your friends when you want to execute your secret mission? Wishful thinking lah.


Hi EBD, just wanna ask when someone comes along and buy enbloc, what exactly he is paying for? I'm just thinking let's assuming i'm a upcoming investor looking at a low density project in district 9, 10 and 11 (say 40 - 100 units). What's to stop me from buying up 1 unit at a time then becoming either the owner of the whole project or the majority owner and controlling the whole estate and doing what i want with it: re - develop, pay to top up the lease etc or sell it wholesale at a good time and i get to say what price i want.

By the time the owners know about me, i would have avoided needing to pay the enbloc price but i get to decide cuz i'm now own more than let say 50% of the project.

Just curious.

xebay11
04-09-09, 22:12
No so simple lah.. neighbours know each other.. when one by one starts to sell, they will exchange notes on the buyers. And you think agents are your friends when you want to execute your secret mission? Wishful thinking lah.

Huh? So far in my whole life of buying and selling no neighbour ever asked who is my buyer, also if buy and sell through agent, many times buyer and seller never meet at all.

SL
04-09-09, 23:10
So you and tericia have just found a method to buy the entire block of condo without paying the high price of enbloc, congrats! Try it on Pacific Mansion..


Huh? So far in my whole life of buying and selling no neighbour ever asked who is my buyer, also if buy and sell through agent, many times buyer and seller never meet at all.

proud owner
04-09-09, 23:14
So you and tericia have just found a method to buy the entire block of condo without paying the high price of enbloc, congrats! Try it on Pacific Mansion..

it happened before ...

father mother brother1 2 3 sister 1 2 uncle 1 2 3 auntie 1 2 3
then they enbloc themselves ..

i am not kidding ..happened a few years back ...

it will work if its a small project ..

Pacific mansion so many units .,.. tough .. unless you recruit the help of the china birds to mess up the place until owner want to sell ...

tericia
05-09-09, 03:39
So you and tericia have just found a method to buy the entire block of condo without paying the high price of enbloc, congrats! Try it on Pacific Mansion..

I think i'm missing something here but what's this obsession you guys have with pacific mansion?

Anyway, proud owner is right. There is a project my WHOLE family are looking into but not so prime lah.

SL
05-09-09, 09:27
Oops.. think I might have sounded sarcastic. Dont mean to be that way. The mentioning of Pacific Mansion was just a point of reference, can also be Dragon Mansion.


I think i'm missing something here but what's this obsession you guys have with pacific mansion?

Anyway, proud owner is right. There is a project my WHOLE family are looking into but not so prime lah.

EBD
05-09-09, 12:32
I think i'm missing something here but what's this obsession you guys have with pacific mansion?

Anyway, proud owner is right. There is a project my WHOLE family are looking into but not so prime lah.

Very risky plan. Prices will rise as transactions goes up.
If you are in a small project only need a few die hards and you can never get to 80%.

My old place I started getting calls from agents offering me 30% over market value for my unit. I talked to owners in the lifts etc... on if they were seeing similar things. At that point everyone knew we were enbloc target. No one sold anymore.


Anyhow, for me there is always the question of conscience. I know it's willing seller willing buyer for those in the 80% but eventually you are forcing people out of their homes against their will. Legal yes unfortunately, but is it good for karma?


btw, my new place I was told by agent is enbloc target. I hope he is joking , it's not even 10 years old and market is too early in cycle I think.
If this is what Singapore has become maybe it's time to ship out - then I can join in the fun of enbloc speculation ,forcing people out of their neighbourhoods without the fear of losing my own place due to the same activity.

tericia
06-09-09, 14:41
Very risky plan. Prices will rise as transactions goes up.
If you are in a small project only need a few die hards and you can never get to 80%.

My old place I started getting calls from agents offering me 30% over market value for my unit. I talked to owners in the lifts etc... on if they were seeing similar things. At that point everyone knew we were enbloc target. No one sold anymore.


Anyhow, for me there is always the question of conscience. I know it's willing seller willing buyer for those in the 80% but eventually you are forcing people out of their homes against their will. Legal yes unfortunately, but is it good for karma?


btw, my new place I was told by agent is enbloc target. I hope he is joking , it's not even 10 years old and market is too early in cycle I think.
If this is what Singapore has become maybe it's time to ship out - then I can join in the fun of enbloc speculation ,forcing people out of their neighbourhoods without the fear of losing my own place due to the same activity.

i know what you mean. Eventual dream is to be a developer rather than just a seller & buyer. If want to dream why not go all the way.

probably there is a easier method than being the majority of a project to start. If there is i hope i see it too, in my life time.

I like to think i'm a good guy but when it comes to money and security, i can't say i'll put my neighbours interest above mine and most importantly my family.

The divide between rich and poor, outstanding foreign students and local students get bigger by the day. Our generation can practice kindness and sympathy but i'm not so sure if the next generation has this luxury.

I understand your point on not forcing anyone out. I pray that i don't do that to anyone. I just ask that i can do more with what i've been given.

EBD
18-09-09, 16:30
any update from our enbloc sales committee?

Understand we are over 12 months now since it formed.
I heard nothing of 80% achieved , in fact I heard nothing from them since they formed at the bad tempered AGM 2008

So they are officially over & done with.

Still see a lot of jokers advertising the place as enbloc potential.

Hope potential buyers find this thread and reality first.....

maybe in 20 years time......

tericia
28-09-09, 12:30
any update from our enbloc sales committee?

Understand we are over 12 months now since it formed.
I heard nothing of 80% achieved , in fact I heard nothing from them since they formed at the bad tempered AGM 2008

So they are officially over & done with.

Still see a lot of jokers advertising the place as enbloc potential.

Hope potential buyers find this thread and reality first.....

maybe in 20 years time......

nothing so far. I'm sure we would hear anything if they managed to do anything exciting. These people are fanatics.

EBD
28-09-09, 18:49
nothing so far. I'm sure we would hear anything if they managed to do anything exciting. These people are fanatics.

Not sure about that, a fanatic would have done something by now.

tericia
29-09-09, 23:15
Not sure about that, a fanatic would have done something by now.

haha, yeah. You have a good point there. I don't think anyone would buy us before checking out the empty plot beside Caspian + Caspian was cheap so no one's gonna pay the price these fanatics want.

hotswill88
31-03-10, 13:49
En bloc no more.....hahahah......................

smallant
31-03-10, 14:49
Tis Jurong Lake Idea.. Moot by the govt.. Main idea is to sell their landbank (cheap cheap) at river valley prices ! Thus, you take a look there.. There is plenty of state own land there !
Why go through the process of enbloc and buy high and faced legal problems etc ?? Developers not stupid .. Land not enough ?
:doh:

EBD
31-03-10, 18:25
En bloc no more.....hahahah......................

Has that not been the case for almost a year now? They ran out of time to get a buyer..... heck I think they didn't even get a lawyer, although this is hard to verify as they didn't send out any updates that I am aware of.

The government land sale of the plot next to the caspian is the final death knell to this idea........ as I have been saying for some time now. Plenty land nearby, why would a developer buy from a complicated enbloc process rather than cheap and easy empty lot sale?

Condorich
31-03-10, 18:58
Yes, alot of empty land around that area... and even the old tang dynasty area could be used... if they really need to develop, the area near to Chinese gardens would be able to accomodate any plans.

This is not forgetting the empty plots of land near the Chinese Garden MRT station all the way to the science center.

Old developments, sell on hope or no hope.

tericia
02-12-10, 14:02
heard that there is an enbloc letter that was sent to all residents for this project. Anyone can clarify if this is true? Many thanks.:)

EBD
03-12-10, 08:43
heard that there is an enbloc letter that was sent to all residents for this project. Anyone can clarify if this is true? Many thanks.:)

I got one. From what I can see it's a real estate company trying their luck.
I haven't heard of any new push internally after the last sale committee was formed and then did nothing at all.
Did you hear anything from the sales committee since they formed? They are

Anyhow, they can't start enbloc again until 2 years have lapsed after the automatic dissolution of the last sales committee.

Plus all the previous arguments still stand. If I'm a developer I will buy the plot of land next to Lakefront residences rather than go through a 1-2 year process and pain of enbloc. Look at all the enbloc's that are now challenged. GLS better until land parcels run out.

Those hoping to make a packet had better wake up - usually only the developer wins in enbloc. Ask the ex-residents of Leedon Heights if they are intending to buy a new unit at their old address.... half size + more ex than they got from enbloc, not what I would call a win.

tericia
03-12-10, 10:07
I got one. From what I can see it's a real estate company trying their luck.
I haven't heard of any new push internally after the last sale committee was formed and then did nothing at all.
Did you hear anything from the sales committee since they formed? They are

Anyhow, they can't start enbloc again until 2 years have lapsed after the automatic dissolution of the last sales committee.

Plus all the previous arguments still stand. If I'm a developer I will buy the plot of land next to Lakefront residences rather than go through a 1-2 year process and pain of enbloc. Look at all the enbloc's that are now challenged. GLS better until land parcels run out.

Those hoping to make a packet had better wake up - usually only the developer wins in enbloc. Ask the ex-residents of Leedon Heights if they are intending to buy a new unit at their old address.... half size + more ex than they got from enbloc, not what I would call a win.

EBD,

thanks for the reply. Heard about the letter from my buyer but didn't know. So she asked me to register her as a yes before the dateline. So looks like i've to go to the MC to enquire detailing about it.

Anyway, the plot beside lakefront is sold. Going to be a mixed development. Shopping centre with residences, as told to me by a friend from ERA. Need to re - confirm if it's true.

rattydrama
03-12-10, 10:20
it has been coverted to white site in Feb this eyar and going forward it only make sense to have a mixed development as there is non in this vincinity.

westman
03-12-10, 10:57
EBD,

thanks for the reply. Heard about the letter from my buyer but didn't know. So she asked me to register her as a yes before the dateline. So looks like i've to go to the MC to enquire detailing about it.

Anyway, the plot beside lakefront is sold. Going to be a mixed development. Shopping centre with residences, as told to me by a friend from ERA. Need to re - confirm if it's true.

Can state land sold without GLS?

tericia
30-12-10, 16:31
I got one. From what I can see it's a real estate company trying their luck.
I haven't heard of any new push internally after the last sale committee was formed and then did nothing at all.
Did you hear anything from the sales committee since they formed? They are

Anyhow, they can't start enbloc again until 2 years have lapsed after the automatic dissolution of the last sales committee.

Plus all the previous arguments still stand. If I'm a developer I will buy the plot of land next to Lakefront residences rather than go through a 1-2 year process and pain of enbloc. Look at all the enbloc's that are now challenged. GLS better until land parcels run out.

Those hoping to make a packet had better wake up - usually only the developer wins in enbloc. Ask the ex-residents of Leedon Heights if they are intending to buy a new unit at their old address.... half size + more ex than they got from enbloc, not what I would call a win.

i may be wrong but i think someone sold for a new record psf price. Wondering how the real estate company can convince residents now?

EBD
05-07-13, 16:06
My understanding is latest enbloc effort (round 3??? can't keep track) also failed to get started.

Any news here?