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View Full Version : Meadows @ Pierce, former Green Meadows site (D26, Freehold, UOL)



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maomiko
22-01-09, 15:46
Anyone knows more detail about this project? The developper is UOL, and is a freehold property.

Kenshinto80
02-02-09, 21:41
Anyone knows more detail about this project? The developper is UOL, and is a freehold property.

Yup, saw this project while on the way to Singapore Island Country Club. Super big plot of land area. If get a unit there can have Casuarina Prata for supper every night....haha. Quite a quiet and green living environment.

thestudio
21-02-09, 07:29
any idea on the launch date and the sizes of the units available?

mr funny
15-03-09, 12:14
http://www.straitstimes.com/News/Home/Story/STIStory_350320.html

March 15, 2009 Sunday

Small flats, big sellers

Demand for smaller space leads developers to downsize units to as tiny as 300-plus sq ft

By Tan Dawn Wei

http://www.straitstimes.com/STI/STIMEDIA/image/20090315/condo.jpg
Crowds flocked to a preview of condominium Domus on Friday. Its smallest units are 474 sq ft. -- ST PHOTO: JOSEPH NAIR FOR THE SUNDAY TIMES

View more photos (http://www.straitstimes.com/gallery/News/Home/Story/STIStory_350320.html)

What do you call a space which can fit four hawker stalls?

In the case of a new property development called Kembangan Suites, the space is called a one-bedroom apartment.

It is all of 344 sq ft.

But small is now big. On just the first day of a preview last week, the developer sold out 60 units of mostly one- and two-bedders ranging in size from 344 sq ft to 581 sq ft.

The smallest units were going for about $300,000.

Industry sources said demand is coming from local and foreign singles, young couples as well as cost-conscious buyers and investors.

Before that, Alexis @ Alexandra sold all its 293 units, including 114 one-bedders (366 sq ft to 527 sq ft), with prices from $450,000.

Other new launches like Mount Sophia Suites in Sophia Road, Nova 88 in Bhamo Road and Zenith in Zion Road are offering studio apartments or one-bedders from 366 sq ft to 484 sq ft.

Crowds flocked to a preview on Friday of new condominium Domus in Irrawaddy Road. The smallest units there - one-bedders at 474 sq ft each - were going for more than $400,000.

Its developer, Lakeview Investments, said those were the most popular and all units released in the first phase had been sold.

'It's the size of a hotel room,' veteran designer Jay Ang said of the new 300-something sq ft homes.

'You have space only to sleep and eat. There's definitely no place to entertain,' noted the specialist in space planning and storage space customising.

But while there are no rules on how small apartments can go, designers and architects have to make concessions for standard dimensions, like how wide a door is, how long a bed is or how deep a wardrobe is.

Developers have quickly cottoned on to this demand for small spaces. Several have rejigged or are considering tweaking their designs and making space for smaller units.

Sing Holdings' project The Laurels in Cairnhill Road will go from its original 150 units of mostly three- and four-bedders to 290 units that include more one- and two-bedroom units.

UOL Group may also resize the units of its Green Meadows project in Upper Thomson to attract more cost-conscious buyers.

Alexis' developer, ECPrime, had done the same before the project's launch.

City Developments said studio apartments in centrally located projects had always been popular because of the lure of city-living.

Studio apartments comprised almost 40 per cent of the offerings at its downtown project, The Sail @ Marina Bay, which was completed last year.

Carving up space for more units is one way a developer can achieve higher dollar per square foot value, said Mr Nicholas Mak, director of research and consultancy at Knight Frank.

'Developers manage to sell such small units because they make it affordable in absolute terms,' he said.

But, property pundits said, when apartments continue to shrink and prices per square feet remain high, home-seekers may go back to buying HDB flats and those looking to rent may decide to go for HDB rooms instead.

The size of private one-bedroom units has halved from 10 years ago.

HDB flats have downsized too, from about 1,130 sq ft for a four-room in 1987 to 970 sq ft now.

Still, Singapore homes have not shrunk to the proportions of those in Hong Kong and Tokyo, where apartments can be as tiny as 140 sq ft.

That is not to say that all buyers are happy with the slimming effect.

Finance executive Audrey Yap, 35, who is shopping for a bachelorette pad, said: 'I can't afford the bigger apartments but the studio apartments are ridiculously small and claustrophobic. I think I may have to settle for a resale HDB flat.'

[email protected]

Windyblue
24-04-09, 15:41
I'm really interested in a unit at this development for sentimental reasons. Does anyone know if they are planning 2+1 units? Or have more information about the development? Please PM me.

tick
25-04-09, 07:40
I am looking at this Meadows project too. Looking for a 3+1 unit. Anyone has idea when is their launch date?

Condorich
04-05-09, 18:20
any idea regarding the launch? Any chance for a MRT to be placed near this development? i.e. Thomson station? Where it will be?

tick
04-05-09, 22:11
I dont think there's going to be MRT line near this project..surrounding are the green and the other side are the low lying private estates.

Condorich
06-05-09, 06:01
I dont think there's going to be MRT line near this project..surrounding are the green and the other side are the low lying private estates.

ok thanks... just a wild and wishful thought

azeoprop
01-06-09, 23:05
Yah interested in this place also, lush forest and the 2 pierce reservoirs nearby, can jog there everyday, healthy lifestyle. :D

maomiko
05-06-09, 15:42
Still no news on the exact launch date??

zzz1
03-07-09, 15:32
Still no news on the exact launch date??

Brief information on the project:
1) In total, about 400 over units
2) A variety of 1Bedroom, 2Bedroom, 3Bedroom and 4Bedroom unit types.
3) Freehold condo
4) In total 4 blocks. Out of which, 3 blocks are 5 storey high and 1 block is 14 storey tower block.
5) The existing block will be refurbished,

yesterday nigh just passed by and saw the already built show hse is lighted again with ppl doing some tidy up..
Last heard the break even price, aft the en block, is est 500plus..
given the current price(condo) at the around the vicinity, look like is beyond 700 psf +-

look like gonna to action soon.

azeoprop
04-07-09, 22:20
That old old tower block still standing will be refurbished?! ... and still sell at brand new condo price?? :tsk-tsk:

Honesty
05-07-09, 00:17
That old old tower block still standing will be refurbished?! ... and still sell at brand new condo price?? :tsk-tsk:

I think at old price for there are no construction cost involve.

Should be at about $500 psf

tick
05-07-09, 08:12
Wouldn't it look damn ugly and eyesore with an old building??:doh:

zzz1
05-07-09, 08:30
That old old tower block still standing will be refurbished?! ... and still sell at brand new condo price?? :tsk-tsk:

their will justify that the overall GFA is integrated as one..last time is a seperate plot and now is combined.

i believed that the refurbished will be very inetnsive la..internally and ex...

vinlow
07-07-09, 15:14
I think at old price for there are no construction cost involve.

Should be at about $500 psf

Heard from a Frank Knight Agent today that the price is abt $900 psf.:scared-5:

tick
07-07-09, 21:27
$950 psf? What was the breakeven?? what's their profit margins??

might as well forget it.

Honesty
07-07-09, 21:47
Heard from a Frank Knight Agent today that the price is abt $900 psf.:scared-5:

So far from town and yet $900 psf, can forget it....

vinlow
08-07-09, 10:48
$950 psf? What was the breakeven?? what's their profit margins??

might as well forget it.

UOL paid $400 psf to enbloc the old Meadow Green. With construction cost, analysis estimated breakeven to be abt $560 to $580 psf based on average unit size of 1500sft on 486 units.

I would expect them to price it abt $750 psf. The nearby Calrose was traded on the low $700+ psf.

Any bro/sis care to give input on the "reasonable value psf" for this project?

tick
09-07-09, 21:49
Attached is the email sent from property agent.

Meadows @ Peirce unit Type, Size and No of Units
http://sg.mg60.mail.yahoo.com/ya/download?mid=1%5f13643%5fAI5zbHwAAUilSlXA7Qc%2bLx1tbns&pid=2&fid=Inbox&inline=1&stationery=1

Meadows at Peirce (former Green Meadows @ Upper Thomson Road) which comes with 360-degree unobstructed views! This project has been receiving overwhelming enquiries due to the lack of supply in this area. The unsurpassed views is also something no other projects in the market can claim. Expect a sell-out situation!

The launch are expected to be in end of July and the preview cum pre-booking could be as soon as 3rd week of July.

Honesty
09-07-09, 23:14
Attached is the email sent from property agent.

Meadows @ Peirce unit Type, Size and No of Units
http://sg.mg60.mail.yahoo.com/ya/download?mid=1%5f13643%5fAI5zbHwAAUilSlXA7Qc%2bLx1tbns&pid=2&fid=Inbox&inline=1&stationery=1

Meadows at Peirce (former Green Meadows @ Upper Thomson Road) which comes with 360-degree unobstructed views! This project has been receiving overwhelming enquiries due to the lack of supply in this area. The unsurpassed views is also something no other projects in the market can claim. Expect a sell-out situation!

The launch are expected to be in end of July and the preview cum pre-booking could be as soon as 3rd week of July.



Unless the price is around $700psf, if not i doubt the respond will be good.

The current capital gain tax news is bad enough to stop investor from buying. Without them, where do we got so many buyers to buy and stay.

After all this place is quite far away from town. If you don't mind the distance, there are many other older condo around that area asking for much lesser.

azeoprop
10-07-09, 00:42
I think only if u buy units on the high floor of that 14 storey tower block, then u get the good views. The rest of the 5 storey blocks get no views.:tsk-tsk:

joyride
10-07-09, 00:51
this is a place for home stay... near the greenery... not too much for investment

tick
10-07-09, 05:17
I think only if u buy units on the high floor of that 14 storey tower block, then u get the good views. The rest of the 5 storey blocks get no views.:tsk-tsk:

Plus some of the unblock views are actually viewing the industrial estates!:scared-4:

Wee Teck
10-07-09, 22:00
Meadows @ Pierce (http://tanweeteck.myweb.sg/49)

Launching in 2 weeks
Book now via appointed marketing agency (Knight Frank)
Contact me (http://weeteck.tan.virtualhomes.sg/) for preview and latest information.

Location : Upper Thomson Road (near Teachers’ Estate, site of former Green Meadows)

Tenure: Freehold

No. of Units : 479

Type of units : A refurbished tower block (14 stys) comprising 3+study at 1200sqft and studios. 3 blocks of 5-stys with 2-br, 2+Study, 3-br, 4-br and 5-br. See below:



1-Bedroom ( 499sqft) 4units
1+1 (526sqft) 48units
2-Bedroom (975-1229sqft) 86units
3-Bedroom (1159-1763sqft) 147units
3+1 (1182sqft) 48units
4-Bedroom ( 1593-2090sqft) 74units
5-Bedroom (2485-2679sqft) 15units
Ground (2641-2686sqft) 8units
Maisonette
Penthouse (2030-3053sqft) 4units

joyride
10-07-09, 23:15
Any indicate price?

condo101
11-07-09, 00:43
www.Meadows.sg (http://www.meadows.sg)

2004civic
11-07-09, 17:26
Fair value is $750-950 psf, considering it is freehold land



UOL paid $400 psf to enbloc the old Meadow Green. With construction cost, analysis estimated breakeven to be abt $560 to $580 psf based on average unit size of 1500sft on 486 units.

I would expect them to price it abt $750 psf. The nearby Calrose was traded on the low $700+ psf.

Any bro/sis care to give input on the "reasonable value psf" for this project?

tick
13-07-09, 07:27
Latest seen in the property agent indications:

$900 psf :scared-5: :scared-5: :scared-5:

Wee Teck
14-07-09, 23:22
Meadows @ Pierce (http://tanweeteck.myweb.sg/51)

Preview on 24th July
Call me for registration and booking of units

Book now via appointed marketing agency (Knight Frank)
Contact me (http://weeteck.tan.virtualhomes.sg/) for preview and latest information.

:)

kurby
15-07-09, 08:49
If launch at 900psf...we should just walk across and buy Calrose instead...

yokoosi
15-07-09, 09:42
at least 900psf:banghead:

vinlow
15-07-09, 09:45
Just contacted NK Agent, price from $850 to $900. Assuming larger unit price starts from $850psf.

2004civic
15-07-09, 12:56
Nice for home stay, quite a serene environment.

Other nearby place also serene is Clover By the Park at Bishan, next to Bishan park and future Kallang river makeover. But that is 99 years lease. Good units can get at 850 psf.


Just contacted NK Agent, price from $850 to $900.
Assuming larger unit price starts from $850psf.

vinlow
15-07-09, 22:44
Saw the layout and floor plan. Not to my liking. Private lift serve 2 units per floor (opposite facing door) to all except one stack. Lots of west sun.

The Good:
No back to back unit like most condo. So all unit will have good sunlight. Bright in all area.
Reasonable size balcony.
Good size Master Bedoom.

The Not So Good:
Limited NS facing unit. These units near BBQ pit, so expect some charcoal smell. None facing the pool.
Except for the tower block, all other units are too low to get the reservior view.
Some 3 & 4 room units will get one very small bedroom. Some of these small bedroom don't even have wardrobe.
Tower block has the "OLD DESIGN" feel.
West sun to most units, either the balcony/master room or the other 2 bedrooms.
Kitchen is right in the middle between Living Hall/master bedroom and bedroom 1&2.
Price average $900 psf.

Please note that I'm no expert and above are just my personal view.

jitkiat
15-07-09, 22:50
Saw the layout and floor plan. Not to my liking. Private lift serve 2 units per floor (opposite facing door) to all except one stack. Lots of west sun.

The Good:
No back to back unit like most condo. So all unit will have good sunlight. Bright in all area.
Reasonable size balcony.
Good size Master Bedoom.

The Not So Good:
Limited NS facing unit. These units near BBQ pit, so expect some charcoal smell. None facing the pool.
Except for the tower block, all other units are too low to get the reservior view.
Some 3 & 4 room units will get one very small bedroom. Some of these small bedroom don't even have wardrobe.
Tower block has the "OLD DESIGN" feel.
West sun to most units, either the balcony/master room or the other 2 bedrooms.
Kitchen is right in the middle between Living Hall/master bedroom and bedroom 1&2.
Price average $900 psf.

Please note that I'm no expert and above are just my personal view.

Kitchen right in the middle is very bad fengshui ... sure or not?

tick
16-07-09, 07:32
I concur on the point on the "Old tower" feel.

Why should we pay $900 psf, to get to see an old building structure??

I think it is an eye sore. My 2 cents worth.




Saw the layout and floor plan. Not to my liking. Private lift serve 2 units per floor (opposite facing door) to all except one stack. Lots of west sun.

The Good:
No back to back unit like most condo. So all unit will have good sunlight. Bright in all area.
Reasonable size balcony.
Good size Master Bedoom.

The Not So Good:
Limited NS facing unit. These units near BBQ pit, so expect some charcoal smell. None facing the pool.
Except for the tower block, all other units are too low to get the reservior view.
Some 3 & 4 room units will get one very small bedroom. Some of these small bedroom don't even have wardrobe.
Tower block has the "OLD DESIGN" feel.
West sun to most units, either the balcony/master room or the other 2 bedrooms.
Kitchen is right in the middle between Living Hall/master bedroom and bedroom 1&2.
Price average $900 psf.

Please note that I'm no expert and above are just my personal view.

KarenK
16-07-09, 09:02
I concur on the point on the "Old tower" feel.

Why should we pay $900 psf, to get to see an old building structure??

I think it is an eye sore. My 2 cents worth.



I have seen the floor plans too. it seems that they split the old apt units in the tower block into 1 studio & 1 3BR unit for each old apt. so all in there'll be 8 units on each floor??? worse than an HDB point block?? :scared-5:

however those are good for those with old folks who want to stay on their own.....the old folks can stay next door & everyone can have their own privacy.....

tick
16-07-09, 13:07
What is the reason for the developer for choosing to Refurbish the existing tower, instead of tearing it down?



Meadows @ Pierce (http://tanweeteck.myweb.sg/51)

Preview on 24th July
Call me for registration and booking of units

Book now via appointed marketing agency (Knight Frank)
Contact me (http://weeteck.tan.virtualhomes.sg/) for preview and latest information.

:)

KarenK
16-07-09, 15:00
What is the reason for the developer for choosing to Refurbish the existing tower, instead of tearing it down?

no approval granted for building anything > 5 storeys high but they are allowed to refurbish the existing tower. if they tear it down, they cannot build higher than 5 storeys. tink it's smtg to do with the zoning guidelines etc etc. me only layman so don't know what are the right terms....

moonk123
16-07-09, 17:12
Project Name-Meadows @ Peirce
Developer-UOL Development Pte Ltd
Property Type-Condominium
Tenure - Freehold
Total Units - 479
Completion Date - 30 September 2012
District - 26

Available Unit Types
1 bedroom (499 - sf)
1+1 bedrooms (526 - sf)
2 bedroom (975 - 1229sf)
3 bedroom (1159 - 1763sf)
3+1 bedrooms (1182 - sf)
4 bedroom (2485 - 2679sf)
Ground Maisonette (2641 - 2686sf)
Penthouse (2030 - 3053sf)

http://www.virtualhomes.sg/FileUpload/Project/2991/Images/meadows_at_pierce001.jpg

http://www.virtualhomes.sg/FileUpload/Project/2991/Images/meadows_at_pierce002.jpg

http://www.virtualhomes.sg/FileUpload/Project/2991/Images/meadows_at_pierce003.jpg


>>> Click here for more info >>> (http://www.virtualhomes.sg/Meadows@Peirce)

.

stanchan
16-07-09, 17:41
For a reasonable price <800psf, this one should appeal to people who love nature and quiet environments.

But I thought the architects / designers seem to fail to inject creativity into the facade and rendering. The tower block looks very HDB to me. And the landscaping is really very "no frills" look.

joyride
16-07-09, 18:31
1. Save cost - the tower and structure is already there
2. Provide scenery for those who wants it. Only tall building around the area

azeoprop
16-07-09, 20:52
Was looking forward to this project, waited for a very long time....but the product they give is very disappointing....pay so much for a "HDB upgrading" block....might as well sell me the unit at the tower block now at 500psf and i do my own rennovation....:tongue3:

magdalene
17-07-09, 09:07
How did you guys get the floor plan? I am interested but this agent said cannot release floor plan due to 'confidentiality'.. but yet ask for a cheque for booking! How can I give a cheque without seeing the floor plan and orientation?
:doh:

vinlow
17-07-09, 10:07
How did you guys get the floor plan? I am interested but this agent said cannot release floor plan due to 'confidentiality'.. but yet ask for a cheque for booking! How can I give a cheque without seeing the floor plan and orientation?
:doh:

It is my understanding that Knight Frank is one of the appointed agency for this project and their agents have the layout and floor plans. They don't allow me to make any copy for "confidentiallity" but showing to me is not a problem. See the link for the layout, no floor plan here though.

http://www.homepacer.com/JustListed.aspx

tick
17-07-09, 10:43
Was looking forward to this project, waited for a very long time....but the product they give is very disappointing....pay so much for a "HDB upgrading" block....might as well sell me the unit at the tower block now at 500psf and i do my own rennovation....:tongue3:

me too. very disappointed.
this pricing is so much worse than the nearby projects like Calrose
they even have the cheek to say "only $900psf":scared-4:

vinlow
17-07-09, 11:10
Just received these via email from agent.

Sea
17-07-09, 15:22
Nestled within private residential enclave along Upper Thomson Road

1 tower block of 14 storey & 3 blocks of 5-storey residential development with total 479 units


1, 1+Study, 2, 3, 4, 5 bedrooms, Penthouses & Ground Maisonettes

Full communal facilities with one of its kind

Sky Gazer Jacuzzi, Bird Watching Tower , Treehouse, Meandering Brooks ,

Lily Hop Pond and more

North-south orientation

Functional layout with quality finishes

Experience a whole new living where tranquility of NATURE embraces you . . http://i213.photobucket.com/albums/cc302/noaharkk/med.jpg

Sms at 90686016 for more details

and to be register as VIp



Preview date 24/07
http://www.sg-house.com/classifieds/images/misc/progress.gif

housewife
17-07-09, 15:49
what's the name of the project? psf range?

Lord Anus
17-07-09, 16:00
ya lor. say the name leh, dun shy leh

passivity
17-07-09, 16:30
Hi all,

Newbie here. Its called Meadows@Pierce

http://www.meadowsinfo.blogspot.com/

Sea
17-07-09, 17:03
what's the name of the project? psf range?

The Project name

is call

Meadows@Pierce (Meadows@Pierce)

Thanks

kurby
17-07-09, 21:44
I think the positive showing in the recent new home sales and the stock market would mean that this one is not going to be cheap...definitely more than 800psf. Launch price for Calrose was 580psf few years back and the highest it went was above 1000psf....so now Meadows is priced at the higher end....

I will wait...no hurry...price will surely soften...

Wee Teck
18-07-09, 03:25
pre-booking begins this sun 19th July at 2pm -6pm.

Call me (http://weeteck.tan.virtualhomes.sg) for registration and more info. :)

Regulators
18-07-09, 03:52
u can wait long long. these days developers are all blood suckers. i think better off buying old projects....



I think the positive showing in the recent new home sales and the stock market would mean that this one is not going to be cheap...definitely more than 800psf. Launch price for Calrose was 580psf few years back and the highest it went was above 1000psf....so now Meadows is priced at the higher end....

I will wait...no hurry...price will surely soften...

jonleelk
18-07-09, 13:55
werid layout with master bedroom immediately facing the living room...but a nice quite location though...

kale
18-07-09, 14:52
I do agree with u..... old projects will be more value for $$ as compare to blood-sucking new launches


u can wait long long. these days developers are all blood suckers. i think better off buying old projects....

tick
18-07-09, 16:39
Anyone has idea how the M@P project pricing compares to the teacher's estates?

azeoprop
18-07-09, 18:18
Hopefully they will sell the tower block at a lower price..... :rolleyes:

KarenK
18-07-09, 21:05
Hopefully they will sell the tower block at a lower price..... :rolleyes:

wait long long.....hearsay tower block going for $1000psf......coz got THE VIEW THE VIEW.......:spliff:

kurby
18-07-09, 21:30
u can wait long long. these days developers are all blood suckers. i think better off buying old projects....

Yah I will wait...in the meantime build up cash...in a few years time, price down cash up...hmmm ideal time to buy a condo....

nothing to lose by waiting....

Ever wonder why developers hurrily jump in to push their projects when the sentiment improves a little? Cause they dun see how the price can be sustained...:)

I may be wrong but I will take my chances....

tick
18-07-09, 21:36
wait long long.....hearsay tower block going for $1000psf......coz got THE VIEW THE VIEW.......:spliff:

yes..heard tower block going fr $1000 psf, the lower blocks going fr $850 psf

tick
18-07-09, 21:57
Checkout the $1000 psf view here.:scared-1:

http://meadows-pierce.com/new-project-launch/meadows-pierce-condo-pre-launch?gclid=CO6t9PWz35sCFdEvpAodbhuh-w

Honesty
18-07-09, 22:07
yes..heard tower block going fr $1000 psf, the lower blocks going fr $850 psf

I will not pay for such a price in this area, It is too high now.

The price from developer is far too high, if it is $1000 psf, how much you think you can sell to the next buyer?

I can buy from the resale market at a better price.

azeoprop
18-07-09, 22:14
If price so high confirm turn off potential buyers one... maybe they are spreading high priced rumors then when actual preview day sell at $850psf then people will think ... waaa very cheap very cheap then all rush to buy. Then actual launch sell at the real 1000psf.... :tsk-tsk:

francislkc
18-07-09, 23:39
Personally, I think the developers are trying to have their last burst of fire to catch all the buyers, before the worst performing months for property arrive (i.e. 2nd half of the year). For example, centro residence have brought forward their launch to next friday instead of end of the year.

For this development, all the units are sunken in a valley, which is bad for health (e.g. dust from the vehicles on the road and bad airflow as it is in a valley) and and fengshui (sunken in a valley). At 900 psf, may as well get calrose (average 700-800psf) which is on highground with better facilities (e.g. with a tennis court, half basketball court, bigger swimming pools), and better facing (i.e. N-S facing). Don't really understand why it was mentioned that the development comes with a 360-degree unobstructed views, when probably only the penthouse unit for the refurbished block could achieve that (the highest 5 storey units would probably be blocked by the trees/road in the surrounding).

Initial had though of getting a unit there, but decided to give it up due to the unjustified high price and numerous cons which exceed the pros. May as well look at other better developments.

jhokc0007
18-07-09, 23:55
Singapore will soon be the most expensive place to live in if this sort of crazy price continues and keenly supported by all the crazy buyers.:scared-1:

Regulators
19-07-09, 04:03
developers pegged their price based on the price they buy the land. if they get it cheap, they can afford to give better discounts to buyers. with land prices appreciating over the years do you think you can get a condo the price ur grandfather or parents paid for many years ago? it is simple logic. if you have more condos coming up in the future, these condos will be priced based on other new projects launched in that area. with lesser and lesser land available in years to come and fewer enbloc opportunities, the price can only go higher, not lower. for established suburban areas, you can forget about buying a condo at 4xxpsf now (some hdbs are already priced in that range) as even caspian in ulu CCK is already priced at close to 7xxpsf and Lakeshore in ulu ulu jurong west close to 900psf. there is nothing wrong with waiting, but many never catch the wave coz they wait too long.




Yah I will wait...in the meantime build up cash...in a few years time, price down cash up...hmmm ideal time to buy a condo....

nothing to lose by waiting....

Ever wonder why developers hurrily jump in to push their projects when the sentiment improves a little? Cause they dun see how the price can be sustained...:)

I may be wrong but I will take my chances....

Autonomy
19-07-09, 06:33
developers pegged their price based on the price they buy the land. if they get it cheap, they can afford to give better discounts to buyers. with land prices appreciating over the years do you think you can get a condo the price ur grandfather or parents paid for many years ago? it is simple logic. if you have more condos coming up in the future, these condos will be priced based on other new projects launched in that area. with lesser and lesser land available in years to come and fewer enbloc opportunities, the price can only go higher, not lower. for established suburban areas, you can forget about buying a condo at 4xxpsf now (some hdbs are already priced in that range) as even caspian in ulu CCK is already priced at close to 7xxpsf and Lakeshore in ulu ulu jurong west close to 900psf. there is nothing wrong with waiting, but many never catch the wave coz they wait too long.

Caspian is NOT situated in CCk btw... its Jurong West... I think you mean MiCasa.

kurby
19-07-09, 11:55
The simple question is demand and supply. Not so much of what price the developer bought their land.

At 900-1000psf, if there are no buyers at all...how long do you think the property developer will hold on to their unsold units at that same price?

I have no doubt land price will increase over years, it is a question of whether the curent price has run ahead of GDP/income growth...if it has then price will adjust downwards to match the income/gdp growth...if it didn't then I think Meadows@Peirce will be a sell out on the first day it launch!

shubh
19-07-09, 12:03
Green Meadows Condo is located near Upper Thomson Road; near Old Upper Thomson Road; near Upper Thomson Road; 0.1 kilometre away from Tagore Avenue; 0.1 kilometre away from Iqbal Avenue.

nicole08
19-07-09, 12:07
I would expect UOL to price M@P at least at $900psf as even fortaine parry 999 project has done well in their sale with 780psf. Remember UOL is a hard nut to crack which believe they produce quality finishes and I do believe that they will not reduce M@P. Just sharing my 2 cents piece of advice..:)

nicole08
19-07-09, 12:13
developers pegged their price based on the price they buy the land. if they get it cheap, they can afford to give better discounts to buyers. with land prices appreciating over the years do you think you can get a condo the price ur grandfather or parents paid for many years ago? it is simple logic. if you have more condos coming up in the future, these condos will be priced based on other new projects launched in that area. with lesser and lesser land available in years to come and fewer enbloc opportunities, the price can only go higher, not lower. for established suburban areas, you can forget about buying a condo at 4xxpsf now (some hdbs are already priced in that range) as even caspian in ulu CCK is already priced at close to 7xxpsf and Lakeshore in ulu ulu jurong west close to 900psf. there is nothing wrong with waiting, but many never catch the wave coz they wait too long.

Agreed...well said

tick
19-07-09, 15:48
they acquired the land @$400+ psf, and now after factor in construction cost, they wants to sell it @$900+ psf??

Regulators
19-07-09, 15:58
the growing affluence of the nation n rising cost of land wud certainly gv developers an indicatn how ptys r to be pxed. Hypothetically if The Sail was priced at 1k psf 20years ago in that same locatn, people wud deem it as madness to buy anythng within that range. Back then ppl were earning less than 1k a mth n even a hdb flat at 200k was unthinkable to many. Today, we see our ptys appreciate 10 fold n when we sell our old ptys to upgrade to a new cndo or pte pty, pxs differ significantly. 20yr ago, 30-yr mortgages were structured for ppl earning 1k to 2k a month but today's housing pxs for mass mkt cndos are basing on a much higher incme bracket n developers study that closely whch is reasn for the redesigng of a number of several proj to cater to low budget mickey mouse hme buyers.
The simple question is demand and supply. Not so much of what price the developer bought their land.

At 900-1000psf, if there are no buyers at all...how long do you think the property developer will hold on to their unsold units at that same price?

I have no doubt land price will increase over years, it is a question of whether the curent price has run ahead of GDP/income growth...if it has then price will adjust downwards to match the income/gdp growth...if it didn't then I think Meadows@Peirce will be a sell out on the first day it launch!

Regulators
19-07-09, 16:08
i believe developers wud hv to pay sme development fee based on number of units they are going to cnstruct. If 400psf is developers cost of air space per unit, u factor in anther 300psf for building n developer earn 200psf per unit whch seems about right.
they acquired the land @$400+ psf, and now after factor in construction cost, they wants to sell it @$900+ psf??

kurby
19-07-09, 20:04
When prices peaked in 2008, many people said the same that price will just keep going up etc etc....but here we are 20% lower than 2008. The point is - is the current price a realistic and sustainable price?

I think not. The Mickey Mouse house syndrome is a very good case that price is not that affordable. Developer are downsizing the house to make it more affordable.

So the higher income that we are earning today can't buy a house that is the same size as that of our parent's house??

azeoprop
19-07-09, 22:24
Soon, staying in old HDB is more luxury than private property... 5room flat 120m2....exec 145m2....vs private condo 2 bedroom 70m2, 3 bedroom 100m2. :doh:

Regulators
19-07-09, 22:53
you dont understand the term luxury, it is not about size. how do you compare a 5xxsft apartment in One Devonshire costing about 900k and a 1500sqft HDB flat in woodlands costing 4xxk? :doh: :doh: :doh:



Soon, staying in old HDB is more luxury than private property... 5room flat 120m2....exec 145m2....vs private condo 2 bedroom 70m2, 3 bedroom 100m2. :doh:

vinlow
20-07-09, 08:38
Hi Bro/Sis,

I wonder anyone here went for the sales presentation for the M@P yesterday at the Grassroot Club at Yio CHu Kang by the agents from KF and ERA?

What new that was not already in this thread?

jonleelk
20-07-09, 09:01
Hi Bro/Sis,

I wonder anyone here went for the sales presentation for the M@P yesterday at the Grassroot Club at Yio CHu Kang by the agents from KF and ERA?

What new that was not already in this thread?

According to someone who was there, 50-60 cheques were collected in that 2 hour and potential buyers will only know the selling psf next week...something that cannot happen in this thread. :D

azeoprop
20-07-09, 10:09
The design for most units is like very unconventional...bedrooms all over the place...very messy. But some units got private lifts...so i guess this is a more upmarket project. :beats-me-man:

jhokc
20-07-09, 10:38
The property mkt has been quite strange lately with people committing without seeing the showroom nor the selling price first. :eek: Possibility of bubble forming......

tick
20-07-09, 10:49
is 50-60 cheques considered an exceptional performance out of the 400+ units?

kurby
20-07-09, 12:14
Is it common to see people booking before even knowing the confirmed launch price?

Or did they already have the pre-booking price?

What happens if the launch price is sky high and people decide to withdraw their booking? Can that be done?

I just find it crazy to place booking without even knowing whats the price?

tick
20-07-09, 12:44
They probably using the pre-booking response rate to decide how hot is the demand....before they disclose the launch price....my logical thoughts.

jonleelk
20-07-09, 13:12
Is it common to see people booking before even knowing the confirmed launch price?

Or did they already have the pre-booking price?

What happens if the launch price is sky high and people decide to withdraw their booking? Can that be done?

I just find it crazy to place booking without even knowing whats the price?

The pre-booking cheque is just an unsigned blank cheque to express ur interest to be first inline for the softlaunch. Only on actual day then u will know the unit and selling price, then can fill in the cheque with 5% of the selling price.

If last minute buyer think the launched price is too high, just take back the cheque lor (agent will ~!@#$%^ inside...) :D

Shareen
20-07-09, 13:47
Dear all,

We are having a VVIP Preview of the Project on FRIDAY, 24th July. Please register for a viewing of the place or if you would require more details. Contact Shareen 98515704 if you are interested. The developer is open for appointments only for the first release of the project.

Here are some details of the place:
VVIP PREVIEW! BOOK NOW TO AVOID DISAPPOINTMENT!
CONTACT ME SHAREEN LIM @ 98515704 TO MAKE AN APPOINTMENT/BOOKING/Get Floor plans NOW! Cobroke welcome



- Minutes Drive to SLE and CTE
- 360-degree unobstructed views with Lush Greenery & Serene Environment
- Close proximity to highly prestigious schools such as. SAP School, CHIJ St Nicholas Girl's School, Catholic High Primary School, Anderson Primary School and Nanyang Polytechnic.
- Amenties- Ang Mo Kio Community Library, Thomson Plaza, Varies of Food @ Food Central,Cafe and Resturants.
- Walking distance to Lower Pierce Reservior Park.


FREEHOLD DEVELOPMENT

MEADOW @ PIERCE

TENURE: Freehold

DISTRICT: District 20

TYPE OF Units

1-Bedroom: 517 - 635 sqft

2-Bedroom: 915 - 1195 sqft

2-Bedroom + PES : 969 - 1238 sqft

3 Bedroom: 1184 - 1518 sqft

3 Bedroom + PES : 1356 -1776 sqft

4 Bedroom: 1625 - 2077 sqft

4 Bedroom + PES : 1981 - 2121 sqft

Garden Mansionette : 2659 – 2702 sqft

Penthouse (3-bedroom + RT ): 2045 - 2236 sqft

Penthouse (4-bedroom + RT ): 2583 - 3068 sqft

ADDRESS: Upper Thomson Road

STOREY: 5

DEVELOPER: UOL GROUP

FACILITIES: Full Condo Facilities

EXPECTED DATE OF T.O.P: Sept 2012

TOTAL UNITS: 479 units

QUOTED PSF : avg $900psf


SHAREEN LIM
98515704
Knight Frank

kurby
20-07-09, 21:07
The pre-booking cheque is just an unsigned blank cheque to express ur interest to be first inline for the softlaunch. Only on actual day then u will know the unit and selling price, then can fill in the cheque with 5% of the selling price.

If last minute buyer think the launched price is too high, just take back the cheque lor (agent will ~!@#$%^ inside...) :D

I see....but still dun understand what purpose does that unsigned cheque serve hahaha.....

azeoprop
20-07-09, 21:40
Something like putting tissue paper pack on the table to reserve seats? haa haa... :rolleyes:

vinlow
22-07-09, 10:07
Check out this review on Meadows@pierce;

http://singaporepropertyreviews.blogspot.com/

tick
22-07-09, 13:01
Excellente review!:)
thanks for sharing

azeoprop
22-07-09, 15:37
Check out this review on Meadows@pierce;

http://singaporepropertyreviews.blogspot.com/

But i must say that the whole piece of land and teacher's estate are sunken in a valley. From the bus stop at Yio Chu Kang road, you can see everything. I think even if u stay on the 5th floor, yio chu kang road is higher than you....:scared-4:

vinlow
22-07-09, 15:57
I agreed that the land is sunker and this is what I think:

1st floor - see nothing outside.
2nd floor see road surface
3rd floor see tree trunk
4th floor see branches
5th floor see leaves and (maybe, maybe only) can see water.
No way you get 360deg unobstructed view. Even in point block, the view is not 360deg.



But i must say that the whole piece of land and teacher's estate are sunken in a valley. From the bus stop at Yio Chu Kang road, you can see everything. I think even if u stay on the 5th floor, yio chu kang road is higher than you....:scared-4:

Lord Anus
22-07-09, 16:03
from: http://singaporepropertyreviews.blogspot.com/ (http://singaporepropertyreviews.blogspot.com/)

Meadows @ Peirce - Initial Thoughts (http://singaporepropertyreviews.blogspot.com/2009/07/meadows-pierce-initial-thoughts.html)


The action has already started in preparation for the preview of UOL (http://www.uol.com.sg/corporate/our_business/residential/residential.html)'s new freehold launch, Meadows@Peirce at Upper Thomson. Agents are busy texting and mailing prospects with details of the property and we understand cheque collection has also begun. We were quite amazed to see a few agents standing along Upper Thomson Road on Sunday evening, waving at cars and collecting details of interested buyers! Will this be the next 8@Wooldleigh (http://singaporepropertyreviews.blogspot.com/2009/06/8-woodleigh-close.html)?

In terms of location (http://www.streetdirectory.com/asia_travel/travel/travel_id_35970/travel_site_1/), Meadows@Peirce occupies the erstwhile Green meadows condo. The location is quiet and tranquil, but for the noise from the traffic on Upper Thomson. Greenery surrounds the area and it is definitely an attraction. But does it warrant paying a premium? Over the weekend we saw the launch of Volari @ Balmoral at S$2000-2200psf - the reason - unblocked views of greenery on Goodwood Hill! We seriously urge buyers to consider if it makes sense to pay a hefty premium for greenery view. While it might give you a quiet surrounding, it doesnt give you the same tranquility as water does. So think twice.

Upper Thomson is quite far from the city and driving is probably the best way out from here - unless you dont mind sitting patiently in the buses that snake along the long Upper Thomson road. Nearest MRT is probably Yio Chu Kang which is about 2.5kms away. Traffic gets congested during peak hours especially as you near Lornie viaduct.

We are told that the developer might even test the market around S$900+psf. Does this place warrant this premium? We dont think so. This makes Tresalveo (http://singaporepropertyreviews.blogspot.com/2009/05/tresalveo-marymount.html) prices reasonable!. Check around for transacted prices of similar units nearby or even closer to city. The Calrose (http://www.mclland.com.sg/ourproperties/page.asp?aid=137#calrose) transacted prices are between S$700-800psf. Even prices nearer to McRitchie and Balestier have not reached this level yet for resale properties. Even The Arte (http://singaporepropertyreviews.blogspot.com/2009/04/arte-thomson.html) started at S$880psf. Be sure before you commit on the psf price.

Given that the layout of site resembles number 8, there are bound to be odd corners in the different layouts. The developers have done their best to keep such odd shapes to a minimum. However be sure that you get rectangular units as much as possible.

The tower block is going to be a refurbished block. Each wing is now broken down into 1 three bedder and 1 single bedroom unit. Worth considering if you plan to get your parents to stay with you. This is much better than the dual key concept we saw at 8@Woodleigh (http://singaporepropertyreviews.blogspot.com/2009/06/8-woodleigh-close.html). If you are picky that you dont want a refurbished tower, choose the newly built ones.

The units are laid out as thin strips along the 8 shaped layout. So units have one view into the facilities and the other one facing either the road or greenery depending on which side you choose. Avoid the units that face the road - at 70kph, the traffic is definitely noisy.

We would recommend pool facing units - they are 3 bedroom units but the unit sizes larger than usual thanks to planters and balcony! The layouts of most units have master bedroom on one side and other bedrooms on the other side of the apartment - check the layout before you sign the check (rather cheque!)

We have to see the showflats to understand the level of finish. 479 units in around 450,000 sqft plot is definitely reasonable. The aerial view of the site plan though gives a feel that the units may be very close to each other. While there is a dog running court, bird watching tower, tree house - we did not find any tennis courts in the site map.

We will update further after we get to see the show units during launch.

azeoprop
22-07-09, 18:26
I agreed that the land is sunker and this is what I think:

1st floor - see nothing outside.
2nd floor see road surface
3rd floor see tree trunk
4th floor see branches
5th floor see leaves and (maybe, maybe only) can see water.
No way you get 360deg unobstructed view. Even in point block, the view is not 360deg.

http://www.propertyguru.com.sg/newhome/210
I think the photos were taken at the top of the tower block, even at this 14th level, u are only just about the tree tops, how to see reservoir? :doh:

kurby
22-07-09, 23:48
And they quote "full condo facilities"...hmmm where is the tennis court?

jhokc0007
22-07-09, 23:58
Mati liao, even at a out of place location is selling at $900psf

:doh:

xtink
23-07-09, 00:11
not bad leh... like one of the dun-noe what project on goodwood? also see green green and very expensive also....at least half price... must buy must buy... very exlcusive....lush lush greeneries!;)

kurby
23-07-09, 00:14
at 900psf..a 3 bedroom of 1500sf will cost $1.35m...and that is gonna cost me a lifetime to repay...not to mention the interest cost as well...

How come double income also doesn't seems to be enuff to buy condo nowadays??

bargain hunter
23-07-09, 02:12
Classic UOL, in 2007 peak, insiders buy at 1500psf on their own preview day, the very next day VVIP preview sell to others at 1800 to 2100psf. Say what 2% discount, more like 20%. Maybe they are trying to do a re-run at Meadows: Insiders buy at 7xx to 8xxpsf on 23rd July, the very next day sell to VVIP preview at 9xx to 10xxpsf. Good luck to buyers.

July 7, 2007

DUCHESS RESIDENCES

Wee Cho Yaw, family buy units in UOL project


UNITED Overseas Land (UOL) chairman Wee Cho Yaw and his family have picked up six units in UOL's latest project, Duchess Residences, in Bukit Timah.

Mr Wee bought a third-floor, 1,485 sq ft apartment for $2.31 million, UOL said in a statement yesterday.

This works out to about $1,555 per sq ft (psf). UOL said earlier this week that prices for the development went up to $2,100 psf.

Two of Mr Wee's children also bagged units. Daughter Wei Ling paid $2.57 million for a 1,604 sq ft unit, while son Ee Cheong bought a 3,035 sq ft unit for $4.72 million. The in-laws of another son, Ee Chao, picked up a fourth unit of 1,604 sq ft for $2.59 million.

The other two units were taken by Mr Wee Cho Yaw's nephew, Mr Wee Boo Tee, and his sister-in-law, Madam Cheng Soh Chin.

Each bought a 1,485 sq ft unit. Mr Wee Boo Tee forked out $2.59 million for his unit, while Madam Cheng paid $2.46 million for hers.

Duchess Residences units were also bought by UOL director James Koh, as well as Madam Low Rowee, the wife of UOL's president and chief executive Gwee Lian Kheng. Mr Koh paid $2.37 million for a 1,485 sq ft unit, while Madam Low paid $4.59 million for a 2,971 sq ft unit.

Mr Koh, Madam Low and Mr Wee Cho Yaw all enjoyed a 2 per cent discount. The other buyers did not receive a discount.

FIONA CHAN

bargain hunter
23-07-09, 11:04
heard there is no tennis court? i find that a lot of developers omit tennis court these days though seems like many of us do like to have tennis courts. there is a dog running court though. i find that very very amusing :tongue3:



And they quote "full condo facilities"...hmmm where is the tennis court?

teddybear
23-07-09, 13:19
By just taking away the tennis court, they can save a lot on land (a tennis court takes up considerable space particularly for those project with small piece of land) and also save on costs (costs quite a lot to fit out a tennis court that follows proper specs).
Dogs running court? I will avoid such properties because I hate dogs running around and poo-poo and pee-pee every where (especially when you met those inconsiderate residents leaving their dogs' poo-poo every where).


heard there is no tennis court? i find that a lot of developers omit tennis court these days though seems like many of us do like to have tennis courts. there is a dog running court though. i find that very very amusing :tongue3:

maomiko
23-07-09, 13:40
Something like putting tissue paper pack on the table to reserve seats? haa haa... :rolleyes:

yes...i like this.:D

kurby
23-07-09, 14:12
I would rather have the tennis court than the tree houses that they have...and they have so many treehouses....

The novelty of the tree houses will die off and then the structure will be wasted...

bargain hunter
23-07-09, 14:41
agreed, such novelty items such as tree houses and dog running court...i still find the latter extremely amusing whenever i type those 3 words...




I would rather have the tennis court than the tree houses that they have...and they have so many treehouses....

The novelty of the tree houses will die off and then the structure will be wasted...

bargain hunter
23-07-09, 15:02
that is very true but this is a more than 400,000sq ft site. so stingy. but their theme is nature lah, so tennis balls going pok pok pok disturbs the serenity maybe.

they give u dog running court liao mah so they hope residents will be considerate since even dogs have their own space. hahaha



By just taking away the tennis court, they can save a lot on land (a tennis court takes up considerable space particularly for those project with small piece of land) and also save on costs (costs quite a lot to fit out a tennis court that follows proper specs).
Dogs running court? I will avoid such properties because I hate dogs running around and poo-poo and pee-pee every where (especially when you met those inconsiderate residents leaving their dogs' poo-poo every where).

azeoprop
23-07-09, 15:13
Just got info from agent that the lowest floor 1+1 stack 80 going for around 620k! :doh:

KarenK
23-07-09, 16:18
Just got info from agent that the lowest floor 1+1 stack 80 going for around 620k! :doh:

OMG......it's 635sqft so works out to $976psf???? so it's true that the tower block has units at $1000psf!!! :scared-5:

bargain hunter
23-07-09, 16:43
1 bedroom 517 - 635 sqft, so if its the 517sq ft 2 bedder?????? 1200psf? don't think so lah, you guys have the site plan should know better :) in any case, i think the higher floor 1 bedders will indeed be above 1000psf.



OMG......it's 635sqft so works out to $976psf???? so it's true that the tower block has units at $1000psf!!! :scared-5:

cheerful
23-07-09, 16:56
Wow .. now D26 this kinda pricing liao ah .. tresalveo, centro ... & now this one :rolleyes:

Honesty
23-07-09, 23:01
Wow .. now D26 this kinda pricing liao ah .. tresalveo, centro ... & now this one :rolleyes:

Aiya, they can ask for any price they want but can the people afford?:tsk-tsk:

Those people who pay sure a high price will regret later as no buyer can afford to anything higher to buy from them n the future.

All they need to do is use their brain to think, now is really too high already.

kurby
24-07-09, 08:50
Aiya, they can ask for any price they want but can the people afford?:tsk-tsk:

Those people who pay sure a high price will regret later as no buyer can afford to anything higher to buy from them n the future.


Well said indeed...which is why I said cost of the land and construction costs are the developers problem, not the buyer. So when the developer wants to sell high to make profit, dun be silly to take on this problem by buying high. Property is all about valuation, not costs.

august
24-07-09, 10:58
1000psf for this???!!! WAHAHAHAHA!!!!


i must kow tow to any buyers for this project :D

ahtze
24-07-09, 11:05
Was quoted 987psf for the 'non-tower' 4th floor 3 room unit.:scared-1:

azeoprop
24-07-09, 11:25
I think this project is way overpriced. Not worth buying. :tsk-tsk:

bargain hunter
24-07-09, 12:20
any news on how well is the take up for this? this place is so far away i don't think i will go down to the showroom.

august
24-07-09, 12:24
any news on how well is the take up for this? this place is so far away i don't think i will go down to the showroom.

they will have to reimburse my petrol or cab fare for me to go!

bargain hunter
24-07-09, 12:28
reimburse me petrol/cab fare also i won't go, time of travel to and fro and time spent at showroom and studying layouts etc will still be many more hours wasted. that's even more precious than money.



they will have to reimburse my petrol or cab fare for me to go!

bargain hunter
24-07-09, 13:40
Agents’ ‘greed’ prompts warnings (http://luxuryasiahome.wordpress.com/2009/07/24/agents-greed-prompts-warnings/)

Posted by luxuryasiahome (http:///) on July 24, 2009
THE sizzling-hot property market and the rush by buyers to secure choice units have led some property agents to turn greedy.
Some agents are offering potential buyers their services to secure a booking for their choice units if they pay them a commission. This has prompted at least two marketing agencies to warn their agents against this practice.
This scheme is reportedly rampant at the freehold Meadows@Peirce (http://luxuryasiahome.wordpress.com/2009/07/15/meadows-pierce/) development near Teachers’ Estate, which is supposed to be open for preview only from today.
Some marketing agents, however, told Today that it is the potential buyers that are offering commissions to agents to secure for them their choice units.
The fee earned by these agents is said to be about 1 per cent of the property value. With unit prices at Meadows@Peirce ranging from $900,000 to more than $1 million, these agents could potentially earn between $9,000 and more than $10,000 for each unit that they can secure for an eager buyer.
In an email to its 3,000 associates on Wednesday, ERA Realty Network, one of the marketing agents for the project, warned: “Please do NOT collect commission from buyers for Meadows@Peirce or any other projects. Anyone caught doing so will be terminated from ERA and no commission will be paid to the associates.”
ERA’s associate director Eugene Lim said the email was a “preventive measure”.
“We want to stop it before anyone receives a commission. It is not right,” he added.
Of late, ERA has been cracking the whip on its agents in an industry where complaints of rogue or ignorant agents are rife. Last week, ERA warned its agents against submitting transactions under the names of senior colleagues to garner a higher share of the commissions.
And in February, a couple successfully sued ERA after its agents profited from “flipping” an apartment they were engaged to sell. The couple had sold their apartment through ERA agent Jeremy Ang, but it turned out that the buyer, Ms Natassha Sadiq, was the wife of his boss Mike Parikh, a senior director at ERA. She immediately resold the unit for a $257,000 gain.
Another marketing agent for Meadows@Peirce also issued an email warning a few days ago. Knight Frank reminded its 700 agents that they cannot receive or ask for commission from buyers, cannot collect an entrance fee into the showflat and cannot ask for blank cheques, which can subsequently cause the buyer to feel pressured to make a purchase.
The company’s executive director Foo Suan Peng said: “This is something we don’t condone because it will give rise to conflict of interest.”
Agents Today spoke to said the “fee for secured booking” practice happens with other projects, too. One said there was “nothing wrong” for buyers to pay agents, as both are willing parties.
Singapore Accredited Estate Agencies chief executive Tan Tee Khoon disagrees. He told Today: “The agent receives a commission from buyers when they are already hired by the developer to provide the services. That is unethical.”
Source : Today – 24 Jul 2009

vinlow
24-07-09, 14:02
Was at the showflat 11am, the place was corwded. Unit #03-35 was sold for $1.32m. Was quoted #04-35 at $1.382m. 1 br unit asking for more than $1,000 psf.

This project seems to be selling fast, all "cheque signing" tables were occupied. Overheard some agents replied potential buyers that their choice unit was sold.

Can't see much for 3 br or 4 br units as they only have showflat for 5 bedroom and Mansionette unit.


any news on how well is the take up for this? this place is so far away i don't think i will go down to the showroom.

august
24-07-09, 14:28
*kow tow*
*kow tow*
*kow tow*



ouch my head :doh:

Regulators
24-07-09, 14:33
we are seriously looking at the second wave and prices will go back to 2007 in no time.:doh:

azeoprop
24-07-09, 14:53
Can't believe that people are rushing to buy this overpriced project. Even waterfront key has better finishing....:doh: I went to take a look this morning, saw the price of 1 bedder, then go off liaoz.

bargain hunter
24-07-09, 14:54
1) Low interest rate on deposits, finding a better place to park cash: Property is brick and motar and will be safe, but is it really that good a place to seek returns? particularly, property prices for non prime areas are near their 2007 highs while the stock market is less than halfway between the highs and the lows despite the sti making a new multi month high today. Prices for prime while more significantly below exhuberrance high in 2007 is still more than halfway between the lows and the highs after the recent recovery.

2) Low interest on loans: makes current projections of future monthly payments affordable at 2% p.a. What if interest rate is at 4%, is it still affordable?

3) Inflation hedge: Property is an asset which goes up with inflation. However, with recent already inflated prices of some new launches, how much of a hedge is that?

4) Missed previous peak, prices at discount now: Is there still a discount now for some projects?

5) Pent-up demand sparked by low prices: are the prices still low? when it was the Caspian, Quartz launch/relaunch, yes. But if Meadows @ Pierce, Centro and Ascentia Sky sells well, is this still pent-up demand sparked by low prices?

6) Upgraders excluded from last ppty run: that should explain the buying for OCR no doubt and probably for RCR as well. But for OCR/RCR at FROM 900 to 1150psf starting prices? Are these still upgraders?

7) Price gap between hdb and condos narrowed: apparently, from M@P (M@P), Centro and A. Sky, launch prices, is this gap still narrow?

8) Worried about further increase in prices: what about future supply? in addition to the 40,000 already slated, this year's more than 10,000 units sold is bound to at least add a few thousand units to this number.

Regulators
24-07-09, 14:58
what is the price of the 1 bedder out of curiosity?


Can't believe that people are rushing to buy this overpriced project. Even waterfront key has better finishing....:doh: I went to take a look this morning, saw the price of 1 bedder, then go off liaoz.

bargain hunter
24-07-09, 15:03
i think earlier in the thread someone said 620k for the lowest floor of the tower block.



what is the price of the 1 bedder out of curiosity?

Regulators
24-07-09, 15:05
how big is the floor size?



i think earlier in the thread someone said 620k for the lowest floor of the tower block.

bargain hunter
24-07-09, 15:09
they have a variety from low 5xx sq ft to 624 sq ft. i think this one is for the 624 sq ft, so u can be sure a few floors above will be above 1000psf liao and needless to say, for the smaller sized 5xxsq ft 1 bedders would also be above 1000psf. Let's join august in kow tow? :not-worthy:



how big is the floor size?

bargain hunter
24-07-09, 15:16
thanks for update :) hmm...why only have showflat for the 2 largest units? wouldn't a typical buyer go for a 3 bedder?


Was at the showflat 11am, the place was corwded. Unit #03-35 was sold for $1.32m. Was quoted #04-35 at $1.382m. 1 br unit asking for more than $1,000 psf.

This project seems to be selling fast, all "cheque signing" tables were occupied. Overheard some agents replied potential buyers that their choice unit was sold.

Can't see much for 3 br or 4 br units as they only have showflat for 5 bedroom and Mansionette unit.

Regulators
24-07-09, 15:52
another example of developers maximising on space and capitalising on psf of small units. it seems that 1kpsf pricing for small units is becoming a norm for RCR and OCR projects.


they have a variety from low 5xx sq ft to 624 sq ft. i think this one is for the 624 sq ft, so u can be sure a few floors above will be above 1000psf liao and needless to say, for the smaller sized 5xxsq ft 1 bedders would also be above 1000psf. Let's join august in kow tow? :not-worthy:

bargain hunter
24-07-09, 16:15
i still can't reason why i would want to pay 600+k for a 1 bedder in far flung locations. i'd rather stay in a 5 room hdb flat in central places like tiong bahru, its the same price, more than twice the size, way superior location (isn't ppty about location, location, location?) only reason is between pte and hdb but i juz can't justify this difference hee



another example of developers maximising on space and capitalising on psf of small units. it seems that 1kpsf pricing for small units is becoming a norm for RCR and OCR projects.

Regulators
24-07-09, 16:38
developers are preying on buyers psychology. hdb upgraders feel that they can get piece pte living below 700k so to them it is a good deal coz condos in the prime are already into the millions. i wont be surprised if jurong hits 1k psf when the business district is up and going there. by then what do you think belastier or potong pasir would cost? FEO is never a good benchmark for pty pricing, but many developers would sooner or later benchmark the pricing of the largest developer when market picks up again. i have a strong feeling that when it picks up this time, it will be fiercer than 2007 but till then, we just have to wait and see....


i still can't reason why i would want to pay 600+k for a 1 bedder in far flung locations. i'd rather stay in a 5 room hdb flat in central places like tiong bahru, its the same price, more than twice the size, way superior location (isn't ppty about location, location, location?) only reason is between pte and hdb but i juz can't justify this difference hee

tantan
24-07-09, 19:28
If agent tell you that can see Pierce Reservoir, please don't believe them. My aunt use to stay on the 12th floor at the point block, cannot see the reservoir. Only can see the top of the trees.

august
24-07-09, 20:11
If agent tell you that can see Pierce Reservoir, please don't believe them. My aunt use to stay on the 12th floor at the point block, cannot see the reservoir. Only can see the top of the trees.

agents will say "green top" view, worth a lot more hahaha ~

tantan
24-07-09, 20:19
If you try visit the place at night, the pedestrian walkway leading to the condo is very very dark & quiet. Not safe for lady to walk along as someone maybe hiding inside the bushes.

tick
24-07-09, 21:14
went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...:mad:

Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.

proud owner
24-07-09, 21:23
went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...:mad:

Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.

at the rate it is going very soon ...sembawang will also reach 1000 psf ..

them marseilling .. and it will even spread across the coast way ...


maybe we should start to buy from North down .. and wait for the price hike to move from South up ... ?? ??

kurby
24-07-09, 21:23
My observation:

1. Most of units sold are the 3 bedrooms. The bigger units like the 4-5 bedrooms, the penthouse are still available.

2. Agent told me 80% of people opt for Interest Deferment Scheme (which adds 2%) more to the purchase price. Reason being if use normal scheme, need to pay 30% now.

I think there are more speculators than buying for stay. People who missed out on the last property run is here to catch this 2nd wave up.

I will wait for the 2nd wave down before considering to buy...

azeoprop
24-07-09, 21:26
hrmmm....maybe next time got starbuys for the tower block haa haa....:D

bargain hunter
24-07-09, 22:07
great report! you should buy a unit to justify your $50 ticket hahaha...madness liao...



went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...:mad:

Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.

proud owner
24-07-09, 22:15
great report! you should buy a unit to justify your $50 ticket hahaha...madness liao...

by the way .. where exactly is Meadow ?
is it deep inside the prata area ? and where the road on the right leads to the reservior ? the one with colonies of monkeys ?

azeoprop
24-07-09, 23:43
by the way .. where exactly is Meadow ?
is it deep inside the prata area ? and where the road on the right leads to the reservior ? the one with colonies of monkeys ?

Its at the junction of Yio Chu Kang road and Upper Thomson road. Near the Prata and monkeys. :rolleyes:

proud owner
24-07-09, 23:48
Its at the junction of Yio Chu Kang road and Upper Thomson road. Near the Prata and monkeys. :rolleyes:

aiyo

further down the road got FH condo at 600+ psf n have rental demand from those working at naval base somemore ..n shopping centre ...

bargain hunter
25-07-09, 00:34
that's further up north isn't it? they really know how to market this greenery/reservoir thinghy lor...but actually that's across one big noisy road lah...


aiyo

further down the road got FH condo at 600+ psf n have rental demand from those working at naval base somemore ..n shopping centre ...

tantan
25-07-09, 08:04
Look like clover by the park at around $650 to $750 psf is a good buy. Better location, rental yield, good view, good schools, amenities but LH. Resales LH condo at Bishan transacting at around $950 psf already.

tick
25-07-09, 08:23
that's further up north isn't it? they really know how to market this greenery/reservoir thinghy lor...but actually that's across one big noisy road lah...

Yes, confirm the stretch along the main road is super noisy...I witness it at the showroom around 7pm....the actually lock the door so that people will not experience the real noise...

the agent try to convince that..."both of you working in the day, correct? then you won't be affected by the road noise, correct?....":scared-4:

jitkiat
25-07-09, 09:44
=> average 880psf

Over 70% of units at Meadows@Peirce condominium sold

By May Wong

SINGAPORE: Over 70 per cent or 180 units at the Meadows@Peirce condominium were sold at a private preview on Friday before the official launch next week.
In a statement, property developer UOL Group said a total of 250 units were offered at the preview. The developer had initially planned to release 150 units, but it added 100 more due to overwhelming response.
UOL said it will also bring forward its official launch by three days to next Tuesday instead of August 1. It will then release another 100 units at an average price of S$880 per square foot.
Meadows@Peirce is a 479-unit condominium located along Upper Thomson Road, opposite Peirce Reservoir. It occupies the previous Green Meadows condominium site.
UOL said it is one of the largest freehold sites to be launched recently. It occupies 43,000 square metres of land in the private residential enclave of Thomson, near Teachers’ Estate.
The last condominium launched in this area was in May 2005, located off Yio Chu Kang Road.
Sizes for the Meadows@Peirce units vary from 517 square foot one-bedroom unit to 3,068 square foot penthouse.
UOL will be offering interest absorption scheme to buyers of Meadows@Peirce, slated for completion in 2012. - CNA/vm
Source : Channel NewsAsia - 25 July 2009

KarenK
25-07-09, 14:20
Yes, confirm the stretch along the main road is super noisy...I witness it at the showroom around 7pm....the actually lock the door so that people will not experience the real noise...

the agent try to convince that..."both of you working in the day, correct? then you won't be affected by the road noise, correct?....":scared-4:


there's a bus-stop along that road just outside the project. imagine u buy a unit near that road and every morning from 5am onwards till late at nite, u have to suffer the sounds of the creaky buses stopping and starting at the bus-stop! :eek:

also pp walking along that road to the bus-stop or the nearby eateries will be able to look into your unit. I understand the other 2 bedrooms will be facing towards this road...

inexplicably, prices for these units seem to be more expensive than those of the opposite row nearer teacher's estate...

mr funny
25-07-09, 14:49
http://www.businesstimes.com.sg/sub/news/story/0,4574,343265,00.html?

Published July 25, 2009

UOL sells 180 units of Meadows condo

By TEH SHI NING


UOL yesterday sold 180 of the 250 units made available at a private preview of its condominium Meadows@Peirce.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-07-25/BT_IMAGES_TSMEADOWS25.jpg
IN DEMAND
The development, on what used to be the Green Meadows condominium site, comprises a 14-storey tower and three five-storey blocks

Units in the 479-unit freehold project in Upper Thomson Road were sold for an average of $880 per sq ft, the developer said. Of these, 87 three-bedroom units were sold for between $1.1 million and $1.5 million each.

The development, on what used to be the Green Meadows condominium site, comprises a 14-storey tower and three five-storey blocks. Units range from 517 sq ft one-bedroom apartments to 3,068 sq ft five-bedroom penthouses. Ten of the 49 penthouses were sold at yesterday's preview.

UOL initially planned to release 150 units at the preview, but raised this to 250 due to demand, said group chief operating officer Liam Wee Sin.

At the official launch on Tuesday, 100 more units will be released at an average price of $880 psf. UOL is offering buyers an interest absorption scheme.

Mr Liam said that home sales have picked up strongly in recent months. 'The successful preview demonstrates the pent-up demand in the Thomson area for a new development,' he said.

Units at two 99-year leasehold condominiums - Far East Organization's Centro Residences at Ang Mo Kio and TID's Optima@Tanah Merah - are slated for release at previews next week.

cl0ver
25-07-09, 21:47
remaining 3bedders i saw was going at $950 psft...
i think calrose seems a much better buy now..

kurby
25-07-09, 23:01
Given this scenario, I don't think owner of Calrose is going to let go cheap....

Anyway it will take a while now before buyers of Meadows will let go below purchase price...I will wait till TOP to see what happens...

Interested in the 4 Bedroom Tree house unit....or a penthouse with the masterbedroom at top floor...

cndomay
26-07-09, 08:43
no approval granted for building anything > 5 storeys high but they are allowed to refurbish the existing tower. if they tear it down, they cannot build higher than 5 storeys. tink it's smtg to do with the zoning guidelines etc etc. me only layman so don't know what are the right terms....

dun make sense that the authorities can allow this practice. if there is height limitation of 5 storeys than the old tower should be torn down as meadows@pierce is now a NEW project.

the old tower creates a strong 2nd hand feeling.

tick
26-07-09, 10:19
dun make sense that the authorities can allow this practice. if there is height limitation of 5 storeys than the old tower should be torn down as meadows@pierce is now a NEW project.

the old tower creates a strong 2nd hand feeling.

Will the old structure be able to withstand another 30-50 years lifetime?
hope things stay strong...

because heard that the refurbished tower block is priced >$1,000 psf..

cndomay
26-07-09, 13:09
Will the old structure be able to withstand another 30-50 years lifetime?
hope things stay strong...

because heard that the refurbished tower block is priced >$1,000 psf..

' refurbished ' is an ugly word

cl0ver
26-07-09, 13:49
wonder whether all the pipping and internal electrical wiring will be changed as well?

cndomay
26-07-09, 14:53
wonder whether all the pipping and internal electrical wiring will be changed as well?

If it used to be Green Meadows, then the tower is about 28 to 32 years old ( TOP around 1977 or 1981 ).

thought only sungei rd or sim slim tower sell refurbished things...

tick
26-07-09, 15:33
the agent claim that many of the ex-owners (green meadows) bought back their old units..

imagine UOL paid, say $400 psf, to the ex-owners when enbloc.
How on earth will the ex-owners repay $1,000 psf to get the same view?? (maybe with some refurbishment and facilities..)

Cannot imagine leh...:confused:

august
26-07-09, 16:20
' refurbished ' is an ugly word

all the more the pricing just begs to be buggered ... :beats-me-man:

Regulators
26-07-09, 17:08
very simple, agent talking cock....:doh: :doh: :doh:



the agent claim that many of the ex-owners (green meadows) bought back their old units..

imagine UOL paid, say $400 psf, to the ex-owners when enbloc.
How on earth will the ex-owners repay $1,000 psf to get the same view?? (maybe with some refurbishment and facilities..)

Cannot imagine leh...:confused:

kurby
26-07-09, 21:31
the agent claim that many of the ex-owners (green meadows) bought back their old units..

imagine UOL paid, say $400 psf, to the ex-owners when enbloc.
How on earth will the ex-owners repay $1,000 psf to get the same view?? (maybe with some refurbishment and facilities..)

Cannot imagine leh...:confused:

Either the agent is cock or the ex-owners are cock :doh: :doh:

bargain hunter
26-07-09, 22:17
it could well be that the project is paid 400psf per plot ratio AND the new units are smaller than the old units, so in effect, the old owners got a higher $ amount back and able to plough back to buy a new unit. but i agree that they will be suckers if they do so. :)



the agent claim that many of the ex-owners (green meadows) bought back their old units..

imagine UOL paid, say $400 psf, to the ex-owners when enbloc.
How on earth will the ex-owners repay $1,000 psf to get the same view?? (maybe with some refurbishment and facilities..)

Cannot imagine leh...:confused:

cndomay
27-07-09, 05:37
went to the showflat late evening...so crowded and had to park on the roadside and contribute $50 ticket to nation building...:mad:

Project was snapped up like hotcakes. I guesstimate maybe 60% sold for the low units.

Refurbished units are not moving as hot, overheard many people saying that why take refurbished and pay thru the nose??

Agent keep pressing for my cheque, but just keep resisting...because anyway not much good units left, and remaining are those facing the roadside, which is quite noisy. that's my field report today.


what is the discount for a refurbished unit? even when govt buy refurbished navy submarines, there is a discount.

tick
27-07-09, 08:29
what is the discount for a refurbished unit? even when govt buy refurbished navy submarines, there is a discount.

No discount for the refurbished units.

In fact, the refurbished units (avg $1,000 psf) is priced higher than the newly built units (avg $900 psf)...due to unblock view:scared-5: :scared-5:

Windyblue
27-07-09, 10:13
I lived and went to school around the area and have been looking forward eagerly for this condo to be launched. Just for sharing sake, here're the reasons why I'm walking away from this development after visiting the showflat on Saturday:

(I was looking at a 3BR for living in or investing to give you an idea of the factors that I would have considered and to put the following into perspective...)

1. Only some parts of the development is within 1km of St Nicholas - so that leaves me to focus only on the Yio Chu Kang Road end of the development.
2. These low-rises have balcony and master bedroom that faces inwards, i.e. to the pool, and NOT the reservoir, which I want. Granted I understand that the road between the condo and reservoir is a busy road but hey, when the road is busy, I'm also part of the crowd on the way to work or back from work!
3. So the agent suggested that I could merge the 2nd and 3rd BR, which faces the reservoir into the master bedroom and study type of configuration - but there's an air-con ledge between the two rooms... and removing the number of rooms etc reduces the resale value of the unit, unless it is designed well, or so I'm told.
4. So lets say we move to the point block then - the 3rd BR of the 3BR unit is ridiculously small compared to the other two bedrooms. It can only fit in a single bed.
5. The point block is next to the light industrial estate.
6. Price - in D26, no doubt FH and MRT is coming up, the price seems far out at $900+psf. How much more upside can there be is a question I find very hard to answer.

However, there are many interesting amenities in the development - tree houses for the kids, bird-watching tower, dog running court :confused: (don't understand this when the reservoir is so near!), next to the reservoir, 3 pools (why not tennis court?). Clearly would be a fabulous environment to grow up in for kids.

For me, I'm walking away...Congratulations to those who bought :)

proud owner
27-07-09, 10:16
the agent claim that many of the ex-owners (green meadows) bought back their old units..

imagine UOL paid, say $400 psf, to the ex-owners when enbloc.
How on earth will the ex-owners repay $1,000 psf to get the same view?? (maybe with some refurbishment and facilities..)

Cannot imagine leh...:confused:


ahhah enbloc-ed, and ex owners buy back at higher psf ..

azeoprop
27-07-09, 10:21
btw, even if you choose the top floor of the tower block, you cannot see the reservoir. The trees of the nature reserve are very dense and tall, you will at most be at the tree tops level.

august
27-07-09, 10:21
the resale value of the unit, unless it is designed well, or so I'm told.
4. So lets say we move to the point block then - the 3rd BR of the 3BR unit is ridiculously small compared to the other two bedrooms. It can only fit in a single bed.



nowadays a 2+1 is marketed as a 3 bdr
a 1+1 marketed as a 2 bdr

i find this across the board, developers r greedy and less than honest.. oh well willing buyers willing seller ~

there r way more value in older developments imo

Property_Owner
27-07-09, 10:25
ahhah enbloc-ed, and ex owners buy back at higher psf ..

Why dun the ex owner of amberville buy back silversea. Wahaha

jitkiat
27-07-09, 10:28
No point bashing this project lah. The fact that they manage to sell so many units means market approving this project already. Old flat more value? May be. But Singaporeans prefer everything new. It is like why people will buy 110sqm new HDB vs the 10-year old 120sqm flat. People prefer new car to 2nd hand car.

proud owner
27-07-09, 10:29
Why dun the ex owner of amberville buy back silversea. Wahaha

wahhahah

or that long faced singer who lived in Horizon tower ? thot kana enbloced .. somemore news paper interviewed her ..and she so proud show off her apt ...

she should buy another unit and push for enbloc

Property_Owner
27-07-09, 10:33
wahhahah

or that long faced singer who lived in Horizon tower ? thot kana enbloced .. somemore news paper interviewed her ..and she so proud show off her apt ...

she should buy another unit and push for enbloc

I pity those owners of HT. You know some of them bought a few more units when HT enbloc was hot. See la.:doh:

gfoo
27-07-09, 11:13
actually why bother to post anymore? whatever we say people still will buy at these ridiculous prices. i'll just tiam tiam, let the prices rise - hit my profit target tiam tiam sell, then go for a beer with some bros here and shop together for pateks

kurby
27-07-09, 11:19
actually why bother to post anymore? whatever we say people still will buy at these ridiculous prices. i'll just tiam tiam, let the prices rise - hit my profit target tiam tiam sell, then go for a beer with some bros here and shop together for pateks

I am just curious - what happens if (for whatever reasons) this launch price is the highest that we cans ee for this project and the price dips from here onwards....will the investors still sell (at a loss) or will they hold and get rental yield instead?

bargain hunter
27-07-09, 11:23
what's the sales status like now? heard UOL already released all the units on sunday morning due to overwhelming response?

teddybear
27-07-09, 11:28
Who is that hah? :)


wahhahah

or that long faced singer who lived in Horizon tower ? thot kana enbloced .. somemore news paper interviewed her ..and she so proud show off her apt ...

she should buy another unit and push for enbloc

august
27-07-09, 11:41
Who is that hah? :)

church of a poison mind ... ;)

gfoo
27-07-09, 11:42
I am just curious - what happens if (for whatever reasons) this launch price is the highest that we cans ee for this project and the price dips from here onwards....will the investors still sell (at a loss) or will they hold and get rental yield instead?

they will hold for as long as they can until they breach the 20% devaluation mark and banks ask them for top up. then they will be pushed to sell.

but pple pls, buy buy buy! still a couple more hundred psf to go before i hit my profit target . i wanna close the year with a bang leh

tick
27-07-09, 11:43
asked agent about tennis court....reply is that there is a nearby country club..can always go there and play tennis...

there is a big forest nearby...what the heck need the bird watching??:doh:

august
27-07-09, 12:09
they will hold for as long as they can until they breach the 20% devaluation mark and banks ask them for top up. then they will be pushed to sell.

but pple pls, buy buy buy! still a couple more hundred psf to go before i hit my profit target . i wanna close the year with a bang leh

your sail ah? no need sell lah, unless u intend to buy back on dip later :o

teddybear
27-07-09, 12:46
name with "Sun"?


church of a poison mind ... ;)

gfoo
27-07-09, 13:05
your sail ah? no need sell lah, unless u intend to buy back on dip later :o

See how lah. bank penalty is so low anyways so anytime can sell - anyways my lock in period only 1 year, at expiry gam gam hoh IR and MBFC will be up.

I'll sell, go back to HDB or my mom's place or maybe rent. I'll wait until next dip and see what happens. Meantime, convert half into gold bullion, the other half put into high-yield fixed-d and live off the interest lor.

Alternatively, buy a nice houseboat and live in 1deg15.

vincenthse88
02-08-09, 13:31
Anyone knows the takeup rate for this project at present?

dfstan
02-08-09, 14:38
i was so excited when was told it will be lauching soon but after seeing the floors plans and artist impression, my dreams burst into bits!

1. Price - about $900++ psf! siao! D20 and paying for such high price! equivalent to Arte, which is D12! no brainer on this.

2. Design - machiam old fashioned HDB. nothing special about it.

3. Amenities - Jogging track and Bird watching. Why such amenities when Pierce is just across the street? Pool is pathetic!

overall utter disappointment. only highlight is freehold and this definitely bring down the price on Horizon Gardens and neighbour 99-yr Condo.

2 words to describe Meadows, utter disappointment.

tick
02-08-09, 14:57
Not forgetting there's NO tennis court too.:doh:


i was so excited when was told it will be lauching soon but after seeing the floors plans and artist impression, my dreams burst into bits!

1. Price - about $900++ psf! siao! D20 and paying for such high price! equivalent to Arte, which is D12! no brainer on this.

2. Design - machiam old fashioned HDB. nothing special about it.

3. Amenities - Jogging track and Bird watching. Why such amenities when Pierce is just across the street? Pool is pathetic!

overall utter disappointment. only highlight is freehold and this definitely bring down the price on Horizon Gardens and neighbour 99-yr Condo.

2 words to describe Meadows, utter disappointment.

august
02-08-09, 15:01
maybe no gym even .. hahah




just kidding ~ :p

tick
02-08-09, 15:04
maybe no gym even .. hahah




just kidding ~ :p

Got Gym la...but quite miserable type..looks very small..

There ameneties of Monkey watching at the opposite park too:)

DC33_2008
02-08-09, 17:16
Got Gym la...but quite miserable type..looks very small..

There ameneties of Monkey watching at the opposite park too:)

I have given this project a miss. For those who visited the showflat: Can you really see the reservior from the new block as I understand it is rather low-rise?

Honesty
02-08-09, 17:23
[quote=dfstan]i was so excited when was told it will be lauching soon but after seeing the floors plans and artist impression, my dreams burst into bits!

1. Price - about $900++ psf! siao! D20 and paying for such high price! equivalent to Arte, which is D12! no brainer on this.

2. Design - machiam old fashioned HDB. nothing special about it.

3. Amenities - Jogging track and Bird watching. Why such amenities when Pierce is just across the street? Pool is pathetic!

overall utter disappointment. only highlight is freehold and this definitely bring down the price on Horizon Gardens and neighbour 99-yr Condo.


Absolutely Right !!!!!

Crazy People + Crazy Price = No Brainer :banghead: :banghead: :banghead:

DC33_2008
02-08-09, 17:34
[quote=dfstan]i was so excited when was told it will be lauching soon but after seeing the floors plans and artist impression, my dreams burst into bits!

1. Price - about $900++ psf! siao! D20 and paying for such high price! equivalent to Arte, which is D12! no brainer on this.

2. Design - machiam old fashioned HDB. nothing special about it.

3. Amenities - Jogging track and Bird watching. Why such amenities when Pierce is just across the street? Pool is pathetic!

overall utter disappointment. only highlight is freehold and this definitely bring down the price on Horizon Gardens and neighbour 99-yr Condo.


Absolutely Right !!!!!

Crazy People + Crazy Price = No Brainer :banghead: :banghead: :banghead:

Bird watching is not too bad. Residents may be watched by wild animals like monkeys and snakes given the distance from the nature reserve. They should check the forum near Bukit Timah reserve like Raintree, etc. Learnt that they have interesting encounter with them.

kEN9170
02-08-09, 17:35
Review on this project.

http://www.h88.com.sg/article/Condo+Review%3A++Meadows+%40+Peirce/




I have given this project a miss. For those who visited the showflat: Can you really see the reservior from the new block as I understand it is rather low-rise?

DC33_2008
02-08-09, 17:49
Review on this project.

http://www.h88.com.sg/article/Condo+Review%3A++Meadows+%40+Peirce/

Looking at the site. It is impossible to see the reservior on the top floor of the 5-storey block. The top floor of the tower block may have a slim chance given the trees around the reservior are quite tall. They will definitely get a lot more rainfall. They should harvest the rain and water the gardens in the development. Maybe they can get a Greenmark platinum award.

ahtze
02-08-09, 19:05
If the go up the building near the area, you can see that the trees (line of sight from tower block to resevior ) is the same or higher than the tower.
e.g frametree park, country esquire or blk 601 ang mo kio.

From blk 601, take the lift to the eight floor, you can see the M@P tower block, crane and the tree height.

Regards



Review on this project.

http://www.h88.com.sg/article/Condo+Review%3A++Meadows+%40+Peirce/

amk
03-08-09, 14:43
guys for argument sake, Meadows land bought at $400 sells at $900, whereas Centro bought at $600 and sells at $1200, who's more outrageous ? :)

tick
03-08-09, 16:49
guys for argument sake, Meadows land bought at $400 sells at $900, whereas Centro bought at $600 and sells at $1200, who's more outrageous ? :)

Now we know how our garment squeezes it's peasants.

amk
06-08-09, 23:36
does anyone know what's the real takeup rate of this project ? I dropped by yesterday afternoon (running an errant), I saw the chart there, most of the units taken (with the red dot). Only left a few penthouses and some large units. Although that infamous 14 story point block is quite empty, I guess ppl are doing their sums correctly.

btw, as a stark contrast with Centro, the chart in Meadows shows all units of the project. So at one glance u really see where it's selling and where it's not. Centro only shows the 2bds under floor 17, and marks all of them "sold". If u dun look at it closely, you would have thought all Centro units sold :tsk-tsk:

amk
07-08-09, 12:33
i believe developers wud hv to pay sme development fee based on number of units they are going to cnstruct. If 400psf is developers cost of air space per unit, u factor in anther 300psf for building n developer earn 200psf per unit whch seems about right.
You are quite right about this!

I found this:

##############################################
2008-03-06: SINGAPORE : Poh Lian Construction, a unit of United Fiber System, has won the building contract to redevelop a site formerly known as Green Meadows condominium along Upper Thomson Road.- R" d# r0 V$ s
. [, O: f) U( E1 a/ T+ @
The contract, awarded by UOL Development, is worth about S$202 million." X6 g+ W; D" u1 p/ ~* v2 ]
. m! I0 @3 F g3 l# H& A
The award of the project has boosted Poh Lian's order book to a new record of S$550 million, up 58 percent since January 31.
9 @4 k& W, }) R a6 Q
Poh Lian said the latest contract is expected to contribute positively to the group and is expected to have a material impact on its current year's results.
##############################################

So the construction cost is almost $316 psf! . Z4 [6 B( C- V. ]# j# w5 J9 Y

Honesty
07-08-09, 23:11
You are quite right about this!

I found this:

##############################################
2008-03-06: SINGAPORE : Poh Lian Construction, a unit of United Fiber System, has won the building contract to redevelop a site formerly known as Green Meadows condominium along Upper Thomson Road.- R" d# r0 V$ s
. [, O: f) U( E1 a/ T+ @
The contract, awarded by UOL Development, is worth about S$202 million." X6 g+ W; D" u1 p/ ~* v2 ]
. m! I0 @3 F g3 l# H& A
The award of the project has boosted Poh Lian's order book to a new record of S$550 million, up 58 percent since January 31.
9 @4 k& W, }) R a6 Q
Poh Lian said the latest contract is expected to contribute positively to the group and is expected to have a material impact on its current year's results.
##############################################

So the construction cost is almost $316 psf! . Z4 [6 B( C- V. ]# j# w5 J9 Y



Whatever the developer pay for the project has nothing to do with the buyers. Buyers need not to justify their selling prices.

Not every businesses will make money. If you are in the wrong timing then just to bad.

Every businessman need to make profit from their products but that provided there are buyer which willing to buy at the high price.

SL
08-08-09, 00:20
Whatever the developer pay for the project has nothing to do with the buyers. Buyers need not to justify their selling prices.

Not every businesses will make money. If you are in the wrong timing then just to bad.

Every businessman need to make profit from their products but that provided there are buyer which willing to buy at the high price.

Well Said !

bargain hunter
08-08-09, 09:39
wah lao, UOL stoop so low to mislead people liao still thick skinned stand by their ads say not misleading.

"In UOL Developments’ recent advertisement for Meadows@Pierce, a freehold condominium project in Upper Thomson Road expected to be ready around 2012, the developer ran a map showing station sites of the future Thomson Line, which will only be completed in 2018.
These include ‘Springleaf’, ‘Kebun Bahru’, ‘Venus Drive’ and ‘Sin Ming’ stations.
Another major developer, Far East Organization, showed the location of a ‘Marine Parade MRT’ station in an online page for its Silversea condo. The east coast development is expected to attain TOP in 2014.
The station is supposedly part of the Eastern Region Line, which will be completed in 2020.
The Land Transport Authority has not confirmed the alignment of the new rail projects, much less the location of stations. An LTA spokesman dismissed the developers’ information as ‘wild guesses’.
Far East Organization declined to comment; but Ms Claire Cher, spokesman at UOL Group, parent company of UOL Developments, said it got the location and names of the stations from singeo.com – an online map service.
According to the website, the names and locations of the supposed Thomson Line stations were suggestions from users.
Ms Cher nevertheless stood by the advertisement, saying ‘we’re not misleading, because we put the word ‘planned’ under each of the station site’.
The Consumers Association of Singapore does not quite agree.
Case executive director Seah Seng Choon said that it fell short of the advertising industry’s code of practice, which dictates that all advertisements should be ‘legal, decent, honest and truthful’.
‘In this case, the sites of the MRT stations as indicated in the advertisement are questionable when the LTA has not confirmed them. As such the advertisement could be misleading.’
Other developers interviewed said it is an occasional practice among some players to include hypothetical sites of new stations in their sales materials – although some frown upon it.
Mr Gerry de Silva, head of group corporate affairs at City Developments, said his company does not resort to this."

tantan
08-08-09, 10:07
wah lao, UOL stoop so low to mislead people liao still thick skinned stand by their ads say not misleading.

"In UOL Developments’ recent advertisement for Meadows@Pierce, a freehold condominium project in Upper Thomson Road expected to be ready around 2012, the developer ran a map showing station sites of the future Thomson Line, which will only be completed in 2018.
These include ‘Springleaf’, ‘Kebun Bahru’, ‘Venus Drive’ and ‘Sin Ming’ stations.
Another major developer, Far East Organization, showed the location of a ‘Marine Parade MRT’ station in an online page for its Silversea condo. The east coast development is expected to attain TOP in 2014.
The station is supposedly part of the Eastern Region Line, which will be completed in 2020.
The Land Transport Authority has not confirmed the alignment of the new rail projects, much less the location of stations. An LTA spokesman dismissed the developers’ information as ‘wild guesses’.
Far East Organization declined to comment; but Ms Claire Cher, spokesman at UOL Group, parent company of UOL Developments, said it got the location and names of the stations from singeo.com – an online map service.
According to the website, the names and locations of the supposed Thomson Line stations were suggestions from users.
Ms Cher nevertheless stood by the advertisement, saying ‘we’re not misleading, because we put the word ‘planned’ under each of the station site’.
The Consumers Association of Singapore does not quite agree.
Case executive director Seah Seng Choon said that it fell short of the advertising industry’s code of practice, which dictates that all advertisements should be ‘legal, decent, honest and truthful’.
‘In this case, the sites of the MRT stations as indicated in the advertisement are questionable when the LTA has not confirmed them. As such the advertisement could be misleading.’
Other developers interviewed said it is an occasional practice among some players to include hypothetical sites of new stations in their sales materials – although some frown upon it.
Mr Gerry de Silva, head of group corporate affairs at City Developments, said his company does not resort to this." Many buyers brought units there because of the misleading marketing adopted by UOL. They use this to push up the price. This is another case of misleading seller, similar to the mini-bond case in the financial industry. Buyers should start complaining to the authority & ask for compensation (since most are paying higher than the market value at that time).

superboy
08-08-09, 10:14
Unscrupulous developer (UOL) & marketing agent (ERA)

passivity
08-08-09, 10:51
What's ridiculous is that in the same section of the ST article about misleading sales info by Meadows, there's a full-page advertisement of the condo, with the "planned" MRT stations still there.

bargain hunter
08-08-09, 11:19
i think the most important sentence in the article is: An LTA spokesman dismissed the developers’ information as ‘wild guesses’.


They already used the word 'planned' to counter it but still unethical and unfair. Buyers should have a right to return their units for a full refund if they wish to.

Allthepies
08-08-09, 11:33
my personal view is that the property industry is in a mess, with already many reported cases of agents misleading/cheating people, false advertisements (on national newspaper some more), misleading show rooms (what u see is not wat u get)... sigh the government has been too lenient on this group of people... in the end the ill-informed buyers suffer.. sigh...

amk
08-08-09, 11:48
Whatever the developer pay for the project has nothing to do with the buyers. Buyers need not to justify their selling prices.

yes I agree with what you said.
But really, is this just wishful thinking ? Developer will never sell below cost, that's for sure (unless it's going bankrupt like in some other countries), so you either take it or leave it. Today another land parcel at the end of Yio Chu Kang road (joining Seletar) is put to tender by URA. Expected price ? $300psf. With this, developer will have to sell $800psf in the end. In that area ? Buyers again need not to justify that selling price. But like this you will be forever priced out, until the next market crash.

francislkc
08-08-09, 13:36
my personal view is that the property industry is in a mess, with already many reported cases of agents misleading/cheating people, false advertisements (on national newspaper some more), misleading show rooms (what u see is not wat u get)... sigh the government has been too lenient on this group of people... in the end the ill-informed buyers suffer.. sigh...

Let's just hope that the relevant authority would do something about this. Eventually it is the buyers (some genuine buyers) who suffer from these unscruplous marketing techniques used by developers/agents. Just like what was mentioned in the papers, countries like Japan have measures to ensure that "future lines or stations are not allowed to be presented in sales collaterals unless the plan is already annouced to the public by the transportation company". It seems like all these types of unscruplous marketing are really getting out of hand.

southpark2000
08-08-09, 13:52
i think the most important sentence in the article is: An LTA spokesman dismissed the developers’ information as ‘wild guesses’.


They already used the word 'planned' to counter it but still unethical and unfair. Buyers should have a right to return their units for a full refund if they wish to.


Sue UOL and ask them to prove that a station is being "planned" in its vicinity....

....either they kanna OSA or they lose the case.... :)

stanchan
08-08-09, 13:55
I was so glad to see the newspaper report this morning. In fact I got a shock when I saw the sales brochure last week. How can they possibly publish location and names of the stations even before the authorities announced it? The map is also very misleading. The closest 'planned' station is supposed to be beyond the TPE exit but on the map, it is drawn so close to the condo site. In actual fact, the TPE exit is a good 2 bus stops away.

I think it is not only the agents and developers at fought. Check other forum threads and u can find overzealous owners of Waterfront Waves and Clover BY the Park who are contributing rumours about 'upcoming' MRT stations at Bedok Park and Bishan Park.

kurby
08-08-09, 14:00
haha sue UOL fr misrepresentation and get a refund or discount...

good luck to buyers....

southpark2000
08-08-09, 14:02
I was so glad to see the newspaper report this morning. In fact I got a shock when I saw the sales brochure last week. How can they possibly publish location and names of the stations even before the authorities announced it? The map is also very misleading. The closest 'planned' station is supposed to be beyond the TPE exit but on the map, it is drawn so close to the condo site. In actual fact, the TPE exit is a good 2 bus stops away.

I think it is not only the agents and developers at fought. Check other forum threads and u can find overzealous owners of Waterfront Waves and Clover BY the Park who are contributing rumours about 'upcoming' MRT stations at Bedok Park and Bishan Park.

I FULLY AGREE that the industry needs to be heavily regulated.
- Maps are so misleading.....shld give the actual map besides those fancy ones that total misrepresent the location
- Dimensions of unit must be given as well
- Specs must be more detailed
- Agents must be regulated...and becos of their unique position, they need to be regulated to prevent trading and asymetrical info.
- There needs to have a central national database for sale and buying of units....full disclosure and transparency

noblebaby
08-08-09, 14:15
not only UOL, FEO also...


haha sue UOL fr misrepresentation and get a refund or discount...

good luck to buyers....

bargain hunter
08-08-09, 17:57
yeah, i better re-quote the FEO part in the Silversea thread. :) Not that anyone bothers with that project anymore and FEO firing on all cylinders with adverts on both local tv, bloomberg and CNBC i saw last night.



not only UOL, FEO also...

focus
08-08-09, 18:42
Misleading Ads => Developer's Fault
Never do due diligence => Your Fault

Honesty
08-08-09, 19:51
Misleading Ads => Developer's Fault
Never do due diligence => Your Fault

I don't think is buyers fault...:scared-4: :scared-4: :scared-4:

Buyers are innocent...:confused: :confused: :confused:


Due diligence should be marketing agent fault...:doh: :doh: :doh:

xebay11
08-08-09, 20:32
I don't think is buyers fault...:scared-4: :scared-4: :scared-4:

Buyers are innocent...:confused: :confused: :confused:


Due diligence should be marketing agent fault...:doh: :doh: :doh:

Ever heard pf caveat emptor? Or buyer beware?

dfstan
10-08-09, 17:32
i knew something is fishy with this ppty. good luck to those who bought it.

Condorich
10-08-09, 23:29
i knew something is fishy with this ppty. good luck to those who bought it.

Let the buyers decide... either they are right or they are wrong. But there could be some possibility for it to coincide with the govt's plans. We don't know for certain until it is announced officially. You take a bet and gamble. Win if right, lose if wrong. Life is like that anyway.

Honesty
10-08-09, 23:46
Let the buyers decide... either they are right or they are wrong. But there could be some possibility for it to coincide with the govt's plans. We don't know for certain until it is announced officially. You take a bet and gamble. Win if right, lose if wrong. Life is like that anyway.

You mean Kelong or not Kelong???

If the location is exactly the plan, then must do a cross check, see who leak out information.

amk
11-08-09, 11:05
Let the buyers decide... either they are right or they are wrong. But there could be some possibility for it to coincide with the govt's plans. We don't know for certain until it is announced officially. You take a bet and gamble. Win if right, lose if wrong.
that's true. it's known there is a "Thomson Line" announced. So buyer makes his own judgment/bet on this.

In actual fact, the selling point of this project is never about MRT. You think those people already staying in Teacher's Estate, along Thomson road, Lentor area, Sin Ming area worry about MRT ? This project is targeting all those staying in old houses/old condos along Thomson area, not for HDB upgraders. For example , almost all the "normal" 3bds and 4bds are very large units so the quantum is way over 1m; also for all 4bds, there are 2 basin/washers ("his and hers") in master bathrm. Plus private lifts for almost all units. All these should suggest this is meant to be a mid level project.

.. not that I agreed to the pricing though :) I think $800 could have been a sweet spot.

bargain hunter
29-09-09, 12:13
great job!

From BT,

"Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2 per cent. So far 21 per cent of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit."

Honesty
29-09-09, 12:23
great job!

From BT,

"Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2 per cent. So far 21 per cent of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit."


RIGHT!!! As I mention before, the so call millionaire buyers had already "dry up"....

The market now is stanaged, can't move anymore...

No more bullets...

Reporter
29-09-09, 13:27
RIGHT!!! As I mention before, the so call millionaire buyers had already "dry up"....

The market now is stanaged, can't move anymore...

No more bullets...
Implying that our Team Manager has forced our cars to a "pit drive through" while cars from other teams are surging forward?

Perhaps we can do match-fixing in a F1 race, i.e. slowing down or crashing our cars to lose the race.

However, I do not believe you can artifically fix your price to be much lower than your competitors. Market will find its level.

Singapore is not much different from Hong Kong, South Korea, Taiwan, etc.. I do not believe we can "fix" our market ...



http://www.businesstimes.com.sg/mnt/static/image/images/topMasthead_small.gif
HK property on the fast track to recovery
Home prices 26% up this year, erasing Q4 ‘08 post-Lehman loss
The Business Times
Tuesday, 29 September 2009

Hedge fund manager Pan Lin Feng and two friends sensed opportunity when Hong Kong property prices plunged 20% last year after Lehman Brothers Holdings Inc collapsed.

In November, they bought a 1,500 square foot apartment, more than double the size of a typical Hong Kong flat, in the affluent Mid-Levels district for HK$9.8 million (S$1.8 million) from an owner shoring up stock and property losses. In July, the trio was offered HK$15 million.

‘It was a good deal,’ Mr Pan, 33, said. ‘It was real luck and everyone has benefited since.’

Hong Kong home prices are up 26% this year, erasing losses posted between the Sept 15, 2008 demise of Lehman Brothers and Dec 31, 2008, according to the weekly Centa-City Leading Index. Mainland Chinese buyers and record mortgage rates lower than London and New York enabled Hong Kong to recover while the other financial centres struggle.

Hong Kong is the world’s 5th-most expensive residential real estate market, after Monte Carlo, Moscow, London and Tokyo, according to Global Property Guide.

The average value of all Manhattan apartments sold in the first six months of 2009 fell 12% from a year earlier, according to figures from Prudential Douglas Elliman Real Estate. Average home prices in London rose 0.3% in the first seven months, according to the UK Land Registry.

Hong Kong property recovered faster because its banks are healthy and residents save money, said Khiem Do, head of the multi-asset group at Baring Asset Management (Asia) Ltd, which holds US$7 billion in assets, including shares of Hong Kong and China developers.

Banks cut mortgage rates to their lowest in 19 years, with some offering loans with a 1%t interest rate, and the increasing number of customers helped boost property prices.

‘In Manhattan and London, if you see a great deal and you want to borrow from the bank, you’ll find it difficult,’ Mr Do said. ‘In Hong Kong and Singapore, the banks will be happy to lend.’

Cindy Gan, a communications manager, said local banks undercut each other competing for her mortgage for a HK$3.8 million apartment near Causeway Bay in May. ‘They would counter-offer by improving the cash rebate and providing free first-year insurance,’ she said. ‘It was all about sweetening the deal.’

She chose a 15-year loan with ICBC (Asia) Ltd starting with a 1% rate.
The Hong Kong Monetary Authority (HKMA), the de facto central bank, warned lenders this month that their ‘intense price competition’ on home loans wasn’t sustainable.

Financial services in Hong Kong suffered fewer job losses than in New York or London. The number of people employed on March 31 was 181,860, the Census and Statistics Department said. That’s down 10,840 since 2007.

New York City is projected to lose 68,300 finance jobs in 2008 and 2009 combined, according to the New York State Department of Labor.

In London, those losses will total an estimated 57,000, the Centre for Economics and Business Research said in April.

Luxury homes in Hong Kong outperformed the housing market as tycoons snapped up properties, said Wong Leung-sing, research director at Centaline Property Agency Ltd. Prices of homes worth at least HK$10 million rose 30% this year, he said.

‘It’s reflecting not only a buoyant economy, but also the shortage of new supply in an extremely limited pipeline in the luxury market,’ said Simon Smith, senior director of research at Savills LLC in Hong Kong.

In July, a house in Sky High on the Peak, the city’s most expensive residential area, sold for HK$300 million, making it this year’s most costly at HK$41,500 per square foot, said Benedict Ma, an analyst at CB Richard Ellis Group Inc. Sky High has four homes ranging in size from 540 to 620 square metres.

Sun Hung Kai Properties Ltd, Hong Kong’s biggest developer by market value, raised prices of two penthouses at The Cullinan project by 50%. The 4,000 sq ft apartments are offered for HK$300 million, or HK$75,000 psf, each, said Victor Lui, executive director of the company’s real-estate broker.

That would be the world’s second-most expensive price after a Monaco developer asked for the equivalent of HK$100,000, said Xavier Wong, head of research for Greater China at Knight Frank.

Those amounts signal a price bubble in Hong Kong, said Francis Lun, general manager at Fulbright Securities Ltd.

‘The property developers are charging unconscionable prices and making obscene profit,’ Mr Lun said. ‘Those luxury properties are bought by mainlanders as trophies.’

Luxury home prices may rise another 10% the rest of this year because of low interest rates and improving stock markets, Mr Ma said. The most ever paid psf for a local luxury house is HK$56,000 in June 2008 for Severn 8 at the Peak, another Sun Hung Kai project.

‘It’s hard to put a cap on the luxury end as you can’t use affordability ratio for any tycoon,’ said Buggle Lau of Midland Holdings Ltd, real estate firm.

Prospective buyers lined up outside The Masterpiece, a high-rise across Victoria Harbor from the Central District, for apartments with 180-degree views of the skyline. A mainland Chinese client paid HK$150 million, or about HK$37,000 psf, for a furnished 4,088 sq ft show flat, said Jeff Lau, senior sales and marketing manager for builder New World Development Co.
A local businessman paid HK$24.5 million, or HK$30,025 psf, for a one-bedroom, 816 sq ft apartment there.

The overall home index may rise another 7% points for an annual gain of 30%, Mr Wong said.

Interior designer Andrew Bell moved to Hong Kong two years ago and bought a 40-year-old walk-up apartment in the trendy Soho district. He sold the 400 sq ft unit last year for HK$4.5 million, double what he paid.

He then bought a 260 sq ft unit last month for HK$2 million. He hopes to rent it for HK$25,000 after furnishing it with Qing dynasty antiques.

‘A lot of people think I’m crazy for buying this place,’ Mr Bell, 53, said. ‘But I really have confidence because everybody is really thanking God that the crisis is over.’

Hong Kong home prices rebounded faster than the stock market. The weekly measure by Centaline and the City University of Hong Kong recovered to levels before Lehman’s collapse by June. The Hang Seng Index reached pre-collapse levels about a month later.

Hong Kong’s yearlong recession ended last quarter, when a boost in export demand from China helped the economy grow 3.3% from the previous three months. Sales of all residential apartments in August almost tripled to HK$41 billion from a year ago, Land Registry figures show.

The number of sales agreements on luxury residences more than tripled to 500, the agency said.

The average size of a Hong Kong flat is about 700 sq ft, Knight Frank’s Mr Wong said. An apartment larger than 1,000 sq ft is considered a luxury flat by local industry standards.

Mr Pan and his friends paid about HK$6,533 psf. They rejected the HK$15 million offer for their 27-year-old flat, where the monthly rent triples the mortgage payment.

‘We think there’s more upside if we wait,’ Mr Pan said.


http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
South Korea: Housing market sizzles again
Lee JunBok
The Straits Times
Friday, 25 September 2009

It is hard to miss the upbeat mood in South Korea these days. The latest economic indicators coming out of Asia’s fourth-largest economy show that the country is edging out of the financial doghouse that the world was thrown into late last year.

One indicator that analysts have pointed to is the slowly but steadily rising housing prices. The appetite to buy property has returned on the back of record low borrowing costs.

Since April, housing prices have climbed for 5 consecutive months, according to market data by Kookmin Bank. Last month, prices rose another 0.3% above the previous month.

Housing prices in Seoul, the economic heart of the country, have a bearing on prices nationwide, and they went up by 0.5%. Transactions also picked up.

'People are confident enough to buy houses because they sense they don’t need to hold on to cash any more,' said Mr Lee Chung Yeol, .....

..........
..........
..........

..... all that liquidity.’


http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Property prices in Taipei skyrocketing
Christina Lo
Taiwan Correspondent
Channel NewsAsia
Taipei, Taiwan
Friday, 18 September 2009, 0028 hrs

http://www.channelnewsasia.com/imagegallery/store/phpqs2PCk.jpg
Taiwan property

"To Let" or "For Sale" signboards were everywhere in Taipei when the global financial crisis hit in the fourth quarter last year.

The real estate industry was among the most badly affected. Weak demand for residential property and office space also caused a sharp fall in prices.

But a year later, property prices in Taipei have skyrocketed, while home sales in the West are still experiencing a slump.

Professor Chang Chin-eh, Land Administration Department, National Chengchi University, said: "The financial crisis should have lowered housing prices. It actually did for a while, but large sums of capital kept coming in as everyone expected greater cross-strait relations."

Low interest rates have also boosted demand and attracted speculators to the property market.

"Houses have become popular investment tools. News reports encourage people to put money into housing market since the interest rate is low. So, the prices go up," said Prof Chang.

Residing in Metropolitan Taipei is not easy. A housing magazine's survey has showed that Taipei citizens will have to work over 23 years, without spending on eating or drinking, if they want to save up for a three-bedroom apartment.

A 100-square metre home costs about US$630,000 in the Taiwanese capital – a huge sum, considering that the average income of people in their early 30s is just over US$2,000 a month.

One said: "It's a huge gap. It's difficult to buy a house for a family that only makes US$1,600 per month."

"The rich will get richer. They have more chances to invest, but the middle-class might suffer from limited income," another added.

Prof Chang said: "You will become a mortgage slave if you buy an overpriced house. It's a heavy burden if you buy it. In Taiwan, there are too many over-consumption and over-investment. It's not healthy."

Property prices are expected to go up by another 20 to 30% in the next two to three years.

Analysts said if nothing is done about it, continued strong demand could lead to over-inflated prices, developing into a housing bubble.

bargain hunter
29-09-09, 13:44
cannot, if you don't have enough fuel to get to the pits, u can't even do your drive through penalty.



Implying that our Team Manager has forced our cars to a "pit drive through" while cars from other teams are surging forward?

Perhaps we can do match-fixing in a F1 race, i.e. slowing down or crashing our cars to lose the race.

However, I do not believe you can artifically fix your price to be much lower than your competitors. Market will find its level.

Singapore is not much different from Hong Kong, South Korea, Taiwan, etc.. I do not believe we can "fix" our market ...

Reporter
29-09-09, 13:53
great job!

From BT,

"Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2 per cent. So far 21 per cent of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit."
Why only half of the article was posted. Too excited over F1 and forgot to pay his subscription to The Business Times. That's why he received only half of the article?

Anyway, here is the full article:

http://www.businesstimes.com.sg/mnt/static/image/images/topMasthead_small.gif
Hundred Trees defies market chill elsewhere
Sales taper off at many projects as cooling measures start to seep in
Kalpana Rashiwala
The Business Times
Tuesday, 29 September 2009

City Developments Ltd (CDL) sold a whopping 316 units last week at its Hundred Trees condo in the West Coast, a quarter of them on interest absorption scheme (IAS). Demand for most other projects, however, seemed to falter.

'Hundred Trees is amongst the last few developments where buyers may opt for IAS,' CDL noted in its press release yesterday. The developer has raised the 956-year leasehold condo's average price from $895 psf initially to about $910 psf. Those who buy on IAS pay a 2.5% price premium.

It was a different story elsewhere as house-hunters ponder the implications of the Sept 14 measures by the government to cool the market. These include scrapping IAS and restarting confirmed list government land sales in first half 2010.

One property consultant even hazarded a guess that 'a pull-back in demand of 10% is not unrealistic'.

BT understands that CapitaLand and its partners last week sold fewer than 20 units at The InterLace condo which will be developed on the Gillman Heights site, after selling 233 units the preceding week. No IAS is being offered for the 99-year leasehold condo.

Analysts point out that the project's pricing is also not compelling. Prices range from $850 to $1,150 psf though market watchers say that on average, the price is about $1,000 psf. The project's unique design may appeal to some but not others, they added.

InterLace also does not have any one-bedroom units, which typically involve a lower lump sum investment and tend to sell off fastest in projects, a market watcher said.

In the Marine Parade location, GuocoLand sold another 21 units at its freehold Elliot At The East Coast project last week. This brings total units sold to 66 units. The developer has released 80 of the total 119 units in the five-storey project at an average price of $970 psf. It is offering IAS in exchange for a 2 per cent price premium. So far four buyers have taken up the scheme. GuocoLand began selling the condo on Sept 19.

Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.

So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2%. So far 21% of the total 478 units sold have been on IAS.

Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.

BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit.

A seasoned property consultant said: 'The market had cooled off slightly even before the Sept 14 measures as price resistance set in after rapid price increases between May and August. People throng showflats of newly released developments, looking for the best units and buy what they can afford. After that, it can be a slow climb in terms of sales volume.'

Most developers and agents have been arguing that the removal of IAS will not make a big dent on home sales as only a minority of buyers in projects where it is offered at a price premium have been taking up the scheme in recent months.

'However, it is not the removal of IAS but the overall message, that the government is monitoring the market closely and ready to do more if necessary, that is having a psychological impact,' reckons DTZ's South-east Asia research head Chua Chor Hoon.

'The Sept 14 package was a warning to market participants and a reminder to potential buyers to be careful,' she added.

A property agent told BT that some people have walked away from buying units in new condos from developers recently as prices at some just-completed developments nearby or projects which are nearing completion are about 20% less in some instances.

CDL said yesterday that 85% of Hundred Trees' buyers were Singaporeans.

'There was a balanced mix of HDB upgraders and buyers who hold private property addresses,' it added. All 22 one-bedroom units, priced from $500,000, and 66 two-bedroom apartments, priced from $701,000, have been sold,' it added.

All six penthouses costing between $2.4 million and $2.6 million have also been taken up. So far, CDL has soft launched 350 of Hundred Trees' total 396 units.

It will release the remaining units this weekend, when it does an official launch, involving an ad campaign.

jlrx
05-11-09, 17:34
Today Reporter buying property, so I become his assistant reporter.

The Straits Times

Nov 5, 2009

Residential site draws 6 bids

By Joyce Teo

THE tender for a 99-year leasehold residential plot in Upper Thomson Road closed on Thursday with six bids.

The top bid came from Treasure Well Investments, at $251.34 million, or about $533 per sq ft of gross floor area.

Other bidders are Tuas Hi-Tech Park, Sim Lian Land, Frasers Centrepoint, CEL Development and First Changi Development.

The 2.08 ha plot is near Lower Peirce Reservoir Park and Bishan Park.


When Hong Leong bid $529 psf ppr for the Serangoon Ave 3 site, at least it was next to the Lor Chuan MRT.

This Lower Peirce Reservoir Park ... :confused:

http://monkeysite.info/Images/funny_monkey.jpg

Last time analysts were predicting ...


Analysts said the number of bids in this tender will likely be lower than the record 13 seen in recent tenders for sites at Dakota Crescent and Chestnut Avenue.

They expect bids for the Thomson site to come in at between S$180 million and S$190 million.

Donald Han said: "You'll end up (having) a break-even price of about close to S$700, S$720 per square foot. So for developers to make money - 10 to 12% profit - we're looking at selling this at about S$820, about S$850 per square foot."

Kenshinto80
05-11-09, 19:17
This is interesting.....prices go up so high.....maybe close to monkeys and nature?

Reporter
06-11-09, 08:51
Today Reporter buying property, so I become his assistant reporter.


The Straits Times

Nov 5, 2009

Residential site draws 6 bids

By Joyce Teo

THE tender for a 99-year leasehold residential plot in Upper Thomson Road closed on Thursday with six bids.

The top bid came from Treasure Well Investments, at $251.34 million, or about $533 per sq ft of gross floor area.

Other bidders are Tuas Hi-Tech Park, Sim Lian Land, Frasers Centrepoint, CEL Development and First Changi Development.

The 2.08 ha plot is near Lower Peirce Reservoir Park and Bishan Park.
When Hong Leong bid $529 psf ppr for the Serangoon Ave 3 site, at least it was next to the Lor Chuan MRT.

This Lower Peirce Reservoir Park ... :confused:

http://monkeysite.info/Images/funny_monkey.jpg

Last time analysts were predicting ...


Analysts said the number of bids in this tender will likely be lower than the record 13 seen in recent tenders for sites at Dakota Crescent and Chestnut Avenue.

They expect bids for the Thomson site to come in at between S$180 million and S$190 million.

Donald Han said: "You'll end up (having) a break-even price of about close to S$700, S$720 per square foot. So for developers to make money - 10 to 12% profit - we're looking at selling this at about S$820, about S$850 per square foot."
Thank you Sir for covering me. ;)

This is what separate 2007 X'mas and 2006 X'mas - land bidding getting higher and higher.

They now have to sell around $1,100 psf!
The better units will be higher!

Reporter
06-11-09, 08:55
http://www.h88.com.sg/images/h88_masthead_logo.jpg
Upper Thomson land parcel sees 6 bids
H88
Thursday, 5 November 2009, 18:40

http://www.h88.com.sg/images/content/2009-11-05/UpperThomsonRd.jpg

The fifth site triggered in the reserve list has received a paltry 6 bids. Compared to the last four bids in Chestnut Avenue, Seletar, Dakota Crescent and Serangoon Ave 3, six bids is pathetic. Is there no more demand? Or have the big boys had their fill of land?

Anyway, the potential winner might be Treasure Well Investments Limited. Who? Yes, we're wondering ourselves. Read on.

Our search has come up with nothing so far (even on ACRA and Google) but we suspect they could be a joint venture, but between who? Stay tuned.

Treasure Well tendered a bid of around $251.3m for this District 20, 99-year leasehold site with a permissible GFA of 471,254 sqft. That works out to be about $533.34 psf ppr. Coming in a distant second is Tuas Hi-Tech Park with a bid that is a good $44.5m less at $206.8m. Sim Lian, Frasers Centrepoint, CEL Development and First Changi Development make up the other losers.

The minimum bid for the land was $82m or $174 psf ppr.



Let's bring back what the experts said about this plot back then (BT - "Bids of $300-425 psf ppr seen for Upper Thomson plot")
‘Developers see there’s demand out there that can be satisfied. Of course, location becomes very important,’ said DTZ executive director (consulting) Ong Choon Fah.

The property consultancy group’s South-east Asia research head, Chua Chor Hoon, predicts top bids of $300-350 psf ppr for the plot, with a likely average selling price of $850-900 psf for the project. ‘It’s a pretty attractive site, with lots of greenery, and it’s near Ai Tong School,’ she added.


Knight Frank chairman Tan Tiong Cheng predicts that a new condo on the site could sell at an average price of about $900-1,000 psf, and forecasts land bids of $350-400 psf ppr for the site, resulting in a breakeven cost of around $800 psf.

‘The plot is in an established residential area. Residents in the new development can walk to Bishan Park and Lower Peirce Reservoir Park. There are eating facilities nearby, for instance, at Thomson Plaza,’ he said.


They sound so conservative now. Going by Knight Frank's Tan Tiong Cheng estimate of adding $400psf to the bid amount as a breakeven cost, which makes it $933psf, and then adding $100-$200 psf as profit, that works to about $1,033 to $1,133 psf as a potential selling price.

By comparison, next door's The Gardens at Bishan were selling at an average of $698.70psf in September. Further up the street, brand new freehold Meadows@Peirce were going at around $1,000psf back in July. Wow! That's quite a fair bit to pay that for a 99-year condo nowhere near any MRT.

Will you cough up that much?

Reporter
06-11-09, 12:47
Private Residential Units Sold in the Month of September 2009

Project Name ...... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Meadows @ Peirce . OCR ........ 338 .......................... 14 .............................. 1,273 ............ 868 ............... 715
Err ... $1,133 psf is no fight for Meadows' high of $1,273 psf leh.

If Treasure Well Investments are serious about joining the OCR $1,200+ psf Club, they need to go above $1,200 psf lah.

Meadows has already joined. Now Centro, Trevista, 100 Trees, Serangoon A3 and Meadows are just waiting for TWI.


Why $1,219 psf?

Must 100 Trees be so jealous of Centro's $1,289 psf, Trevista's $1,222 psf and upcoming $1,200+ psf in Serangoon Avenue 3?

Or these tress just want to join the OCR $1,200+ psf Club?

amk
06-11-09, 12:53
Today Reporter buying property, so I become his assistant reporter.

hey OT a bit: has our dear Reporter revealed where he's buying ? :)

bargain hunter
06-11-09, 12:54
welcome to the guess the property game. Reporter, can you please start giving us more hints? we have reached critical mass in no. of participants. :)


hey OT a bit: has our dear Reporter revealed where he's buying ? :)

Reporter
07-11-09, 16:35
http://www.businesstimes.com.sg/mnt/static/image/images/bt_wkend_masthead.jpg
Cheung Kong is top bidder for Upper Thomson Rd condo plot
The Business Times Weekend
Saturday, 7 November 2009

The top bidder for the 99-year condo site on Upper Thomson Road on Thursday has been revealed as a unit of Hong Kong tycoon Li Ka-shing’s Cheung Kong Holdings.

This was confirmed yesterday by Raymond Chui, general manager of the group’s Singapore-based unit Property Enterprises Development.

Cheung Kong unit Treasure Well Investments’ bid was for $251.3 million or about $533 per square foot per plot ratio (psf ppr) – the highest seen for a private housing site at a state land tender this year.

Mr Chui said the estimated breakeven cost of about $850 to $900 psf forecast by analysts quoted in the media was pretty accurate. ‘We’ll probably develop around 340 to 350 units,’ he added.

Treasure Well’s top bid was 21.5% above the next highest offer, which was made by Singapore’s Far East Organization.

When asked if Cheung Kong regretted having paid such a wide margin, especially in hindsight as the government announced its H1 2010 land sales programme the next day with substantial supply in the confirmed list, Mr Chui replied: ‘We’ve done our sums. The site is in a very good location and we have confidence in the future of the Singapore property market.’

The Upper Thomson Road site is located opposite the Singapore Island Country Club’s Island Golf Course and Lower Peirce Reservoir.

The group will also be developing a 295-unit condo on a 99-year-leasehold site facing West Coast Park and overlooking the sea.

That is likely to be launched next year, possibly in the second quarter, Mr Chui revealed.

The project will comprise fairly regular-sized units. ‘Our showflat is not yet ready,’ he added.

Cheung Kong clinched the West Coast site at a state tender in March last year, paying $110.44 million or $305 psf ppr.

Interestingly, it also outbid Far East Organization for that site, but with a much narrower winning margin of just 1.4%.

jlrx
08-11-09, 22:22
Cheung Kong is top bidder for Upper Thomson Rd condo plot
The Business Times Weekend
Saturday, 7 November 2009

The top bidder for the 99-year condo site on Upper Thomson Road on Thursday has been revealed as a unit of Hong Kong tycoon Li Ka-shing’s Cheung Kong Holdings.

http://im.in.com/connect/images/profile/b_profile3/Li_Ka_Shing_300.jpg

When asked if Cheung Kong regretted having paid such a wide margin, especially in hindsight as the government announced its H1 2010 land sales programme the next day with substantial supply in the confirmed list, Mr Chui replied: ‘We’ve done our sums. The site is in a very good location and we have confidence in the future of the Singapore property market.’


http://www.businesstimes.com.sg/mnt/static/image/images/bt_wkend_masthead.jpg
Hong Kong tycoon sheds stock, loads up on land
The Business Times Weekend
Saturday, 31 October 2009

http://images.forbes.com/media/lists/10/2006/7PNH.jpg

Billionair Lee Shau-kee said he has sold as much as 30% of his Hong Kong stock investments and is buying land, betting that the government’s efforts to cool home prices won’t work.


http://2.bp.blogspot.com/_7X86tOt6tKQ/Sos0-8pZRxI/AAAAAAAAMUA/-Ny-mEvvFrY/s400/STCC+2009+047-1.JPG

Thanks for your tips the other day.
I am executing my D9 plan later today.

These three people have no respect at all for governments' cooling measures! :simmering:

Mah Bow Tan and Donald Tsang had already warned repeatedly that their respective governments were going to "cool" the property market, yet they went ahead and bought properties !?!

These three people must be the most unsuccessful people on earth, as they do not listen to government advice!

Reporter
08-11-09, 22:53
These three people have no respect at all for governments' cooling measures! :simmering:

Mah Bow Tan and Donald Tsang had already warned repeatedly that their respective governments were going to "cool" the property market, yet they went ahead and bought properties !?!

These three people must be the most unsuccessful people on earth, as they do not listen to government advice!
Err ... not my fault leh ... Prof Paul Yip told ... to do so mah ...



http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
'Severe asset inflation'
Melissa Tan
The Straits Times
Wednesday, 12 August 2009

http://www.straitstimes.com/STI/STIMEDIA/image/20090811/In-SG-ALPHONSUSCHERN.jpg
Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy. --ST Photo: Alphonsus Chern

Singapore risks 'severe asset inflation' during the economic recovery, a local economist has warned.

But this danger can be averted if the Government acts now to control the prices of HDB flats, said Mr Paul Yip, Nanyang Technological University (NTU) associate professor of economics.

Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy, Professor Yip said on Tuesday.

He was speaking at an NTU symposium - on exchange rate systems and Asian macroeconomic policies - which brought together 11 macroeconomists from institutions such as Stanford University and Delhi School of Economics.

'Many people say that the property market is rebounding, but I don't think so; we are still bottoming. Recovery will be slow ... and a few years later we might have severe asset inflation, much more than the rise today,' Prof Yip said.

'So if you are a stock investor or property investor, it's very easy. Just hold your stock and shares for another three or five years - the price will climb to be much higher. But if you lose money, don't blame me,' he quipped.

Prof Yip noted that the US government has lowered interest rates and expanded its money supply in a bid to avoid a repeat of the Great Depression.

But post-recession, the government may fail to shrink the money base back to pre-downturn levels, he said. In that case, excess US dollars would flood the market.

'For Singapore, there may be an inflow of money from the US, increasing the money base and therefore the money supply... When the recovery comes, there will be wage inflation and consumer price index inflation, and this will fuel asset inflation,' he told The Straits Times.

'Rents will rise and then people will be able to charge even higher rents, causing a vicious circle,' Prof Yip said.

teddybear
08-11-09, 22:59
Very funny. They (the billionaires) should listen to those people (not sure what background, may be multi-billionaires wannabe) who are telling others to wait because more govt land sales coming and properties will be cheaper than now. If they the billionaires don't listen to the multi-billionaires, they sure sooner or later will go pok-kai! :D


These three people have no respect at all for governments' cooling measures! :simmering:

Mah Bow Tan and Donald Tsang had already warned repeatedly that their respective governments were going to "cool" the property market, yet they went ahead and bought properties !?!

These three people must be the most unsuccessful people on earth, as they do not listen to government advice!

kane
08-11-09, 23:09
bigwigs throwing their weight around.

jlrx
09-11-09, 02:02
Very funny. They (the billionaires) should listen to those people (not sure what background, may be multi-billionaires wannabe) who are telling others to wait because more govt land sales coming and properties will be cheaper than now. If they the billionaires don't listen to the multi-billionaires, they sure sooner or later will go pok-kai! :D

Your statement has some errors.

They (the billionaires) should read: They (the two multi-billionaires and one multi-millionaire).

Forbes 2009

http://chinadigitaltimes.net/wp-content/uploads/mt-old/thumbnail/lijiacheng-thumb.jpg
Li Kashing (Hong Kong Number 1)
Net Worth: US$ 16.2 billion (S$ 22.7 billion)

http://www3.hku.hk/hongrads/upload/graduate_photo/Lee_Shau_Kee_th.jpg
Lee Shau Kee (Hong Kong Number 3)
Net Worth: US$ 9 billion (S$ 12.6 billion)

http://www.blogcadre.com/files/images/rup.thumbnail.jpg
Reporter (Ranking Unknown)
Estimated Net Worth: S$ 5 million to S$ 20 million
(That's the estimated average wealth of someone in Singapore who drives a S300L and is able to purchase a 1500-2300 sqft D9 property on impulse).

Reporter
09-11-09, 08:13
..........
..........

http://www.blogcadre.com/files/images/rup.thumbnail.jpg
Reporter (Ranking Unknown)
Estimated Net Worth: S$ 5 million to S$ 20 million
(That's the estimated average wealth of someone in Singapore who drives a S300L and is able to purchase a 1500-2300 sqft D9 property on impulse).
Sir, don't think of highly of Reporter leh.

The Department of Statistics have just confirmed that Reporter's ranking is lower than yours. So the gentlemen with the stick up there is ... yourself! :D

Reporter
15-12-09, 18:32
Private Residential Units Sold in the Month of November 2009

Project Name ...... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Meadows @ Peirce .. OCR ........ 354 .......................... 8 ............................... 1,108 ............ 884 ................ 831
Too bad! Still can't break September's $1,273 psf.

Reporter
16-01-10, 17:09
Private Residential Units Sold in the Month of December 2009

Project Name ...... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Meadows @ Pierce . RCR ....... 359 ....................... 5 ........................... 1,149 ........... 892 .............. 695
Can't break September's new high of $1,273 psf.

Reporter
26-01-10, 10:00
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
Signs of a mild property fever as private home sales gather pace
Developers have sold over 900 units this month as bullish sentiment returns
Kalpana Rashiwala
The Business Times
Tuesday, 26 January 2010

Developers have sold more than 900 private homes so far this month - based on BT's poll of developers and property agents - and with another week to go, the tally is easily expected to cross 1,000 units by month's end.


Besides Allgreen Properties' Holland Residences, which will be previewed this week, Wing Tai is said to be at an advanced stage of preparation for an imminent preview for L'Viv at Newton Road. The average price is touted at about $1,900 psf - $2,000 psf - significantly higher than the $1,700 psf average price at which Ho Bee is selling its Trilight condo nearby.

Wing Tai is eyeing a higher psf price by offering smallish units (thus keeping the absolute lump sum price per unit 'affordable' to potential buyers). The developer is said to be packaging its project with Deferred Payment Scheme as it had clinched approval for it before the scheme was scrapped in 2007.

L'Viv comprises a total of 147 units - 72 units have 1 bedroom and a study and these come in 2 sizes, both 600-sq ft plus; another 72 units have 2 bedrooms and a study (all about 1,000 sqft); and there are 3 penthouses (all 3-bedders).

Trilight does not have any 1-bedders. It has 2-, 3- and 4-bedders as well as penthouses. 2-bedders range from 1,100 to 1,200 sqft.

http://business-times.asia1.com.sg/mnt/static/image/ax/quoteTop.gif
'Frankly, it's very hard to deter people from buying, if you look at how strong the HDB resale market is. There's very strong bottom-up support.'

- Knight Frank chairman Tan Tiong Cheng,
. when asked if the authorities are likely to come up with
. fresh measures to cool the market if another round of
. buying frenzy builds up
http://business-times.asia1.com.sg/mnt/static/image/ax/quoteBot.gif

Fortune Development is also slated to begin previewing this week RV Edge in the River Valley/Shanghai Road vicinity. The 108-unit freehold project, being marketed by Huttons, comprises mostly smallish apartments ranging from 1-bedders to 2-bedroom with study units. The smallest unit is about 400 sqft. Prices are expected to start from $600,000-plus per apartment.

City Developments Ltd (CDL) said yesterday evening that it has sold about 85% or about 150 of the the total 177 units at its Cube 8 condo at Thomson Road, which it began previewing last week.

Singaporeans bought 75% of the units sold. The other 25% were picked up by permanent residents (PRs) and other foreigners - mainly from Malaysia, Indonesia, Hong Kong, Korea, India, China and Europe.

The District 11 freehold project was initially priced at $1,250 psf on average but prices were upped 2-3% for subsequent releases.

CDL group general manager Chia Ngiang Hong said in a statement that the buyers were an 'equal mix of owner-occupiers and investors' and that this pointed to the development's appeal to both home owners and investors.

Some market watchers suggest, however, that the project has probably also drawn a fair number of specuvestors. Slightly over half of the total 177 units comprised one and two bedders and these were the first to go, mirroring the pattern for other projects that were launched in Districts 9, 10 and 11 last year.

In addition to the buying buzz created this month from the release of new projects, some developers have been pleasantly surprised with a steady stream of activity even for existing projects that have been on the market for at least a few months. For instance, Ho Bee Investment has sold about 60 units at its Parvis condo at Holland Hill and 10 units at Trilight since the start of the year.

CDL is also understood to have sold more than 50 units at its Livia condo in Pasir Ris this month and the 724-unit project is now left with about 10 units.

'Sentiment has picked in the mid and high-end markets because of the improvement in the economy; the imminent opening of the two integrated resorts (IRs) may also have given a psychological boost to foreign buying interest, which seems to be returning,' says Ho Bee executive director Ong Chong Hua.

Agreeing, a fellow developer said: 'We're seeing a bigger variety of buyers from the region this round - including markets like Myanmar and Laos.'

http://www.virtualhomes.sg/FileUpload/Project/2991/Images/meadows_at_pierce003.jpg
Meadows @ Peirce

UOL Group has sold this month 25 units at Double Bay Residences in Simei and 18 units at Meadows @ Peirce along Upper Thomson Road. The group plans to launch two projects in the first half of this year - a 99-year-leasehold condo with about 600-plus units at Dakota Crescent and a project with some 170 units on the Rainbow Gardens site in the Toh Tuck area. The latter will be a joint development with LaSalle Asia Opportunity II fund.

Developers' home sales slipped below the 1,000-unit per month mark in Q4 last year as they wound down their launch activities towards year-end. Some potential buyers had also grown cautious following the government's measures in September to cool the property fever.

However, fear of missing the boat appears to be re-igniting with strong signs of another round of price hikes this year.

'For the economy, the worst is over and much of the physical infrastructure investment like the IRs is close to completion,' says Knight Frank chairman Tan Tiong Cheng.

Asked if the authorities are likely to come up with fresh measures to cool the market if another wave of buying frenzy builds up, Mr Tan said: 'Frankly, it's very hard to deter people from buying, if you look at how strong the HDB resale market is. There's very strong bottom-up support.'

2824
29-04-10, 16:02
Heard that there are only 3 units left, all 4 bedrooms and above.

SPS
01-05-10, 22:53
All sold out!

sleek
01-05-10, 22:55
All sold out!

Next up; Waterbank, Treehouse,...:D

Komo
30-05-10, 15:17
All sold out!

This could afterall be a good bet with TSL being planned ready by 2018, i.e. if there is a station within walking distance.

A New MRT Line The 27km Thomson Line (TSL) will run from Woodlands to the heart of Marina Bay, complementing the North-South Line and serving areas that do not currently have direct MRT links, such as Sin Ming, Kebun Baru and Thomson. Residents can look forward to faster trips to the city via the TSL.

CLOVERLUV
20-07-10, 19:18
:) First sub-sales have been lodged for Meadow...

2824
21-07-10, 09:06
Which unit is it? My guess is the studio?



:) First sub-sales have been lodged for Meadow...