The Cape by FEO breaking psf in D15

**hyenergix** · 11-03-11, 08:46

I thought an excerpt from an advertisement on Aalto mentioned breakeven cost around $2000 psf. Situation doesn't look good from the other advertisements in propertyguru http://www.propertyguru.com.sg/proje...lto-977/sale/1
Featured on Business Times

“The breakeven cost for a new luxury condo project on the site could be about $1,950-2,100 psf. A 25th floor unit at the nearby Aalto was transacted at $2,373 psf this month. Over at Seafront@Meyer, units on the 17-20th floors have traded at $1,875-2,051 psf in the past few months.”
http://www.businesstimes.com.sg/sub/news/story/0,4574,415564,00.html?

**devilplate** · 11-03-11, 08:50

Originally Posted by hyenergix

I thought an excerpt from an advertisement on Aalto mentioned breakeven cost around $2000 psf. Situation doesn't look good from the other advertisements in propertyguru http://www.propertyguru.com.sg/proje...lto-977/sale/1
Featured on Business Times

“The breakeven cost for a new luxury condo project on the site could be about $1,950-2,100 psf. A 25th floor unit at the nearby Aalto was transacted at $2,373 psf this month. Over at Seafront@Meyer, units on the 17-20th floors have traded at $1,875-2,051 psf in the past few months.”
http://www.businesstimes.com.sg/sub/...15564,00.html?

aalto still got developer's unit?

sounds like biz times r trying to mislead the public by stating the record high transaction which is not found in the caveat? found a record high psf at 27xxpsf...WOW! who is tat carrot? i wud rather buy a PH unit at paterson area....

congrats to the seller

193 Meyer Road #26-08
Freehold
$2724
6168
$16800k
01 Feb 11

**hyenergix** · 11-03-11, 09:19

To clarify, I extracted the excerpt from here: http://www.condoexpert.sg/aalto-meyer-road. I'm didn't read the Business Times as I don't subscribe.

Should have some big units left http://www.propertyguru.com.sg/listi...iew-meyer-road

**Wild Falcon** · 11-03-11, 09:21

Meyer Road - Buyer should be Indian and they are prepared to pay a lot to be near their own type. Most of the record breaking outrageous prices are not bought by Singaporeans. So there is a lot of truth that headline prices are now dictated by foreigners.

Originally Posted by devilplate

aalto still got developer's unit?

sounds like biz times r trying to mislead the public by stating the record high transaction which is not found in the caveat? found a record high psf at 27xxpsf...WOW! who is tat carrot? i wud rather buy a PH unit at paterson area....

congrats to the seller

193 Meyer Road #26-08
Freehold
$2724
6168
$16800k
01 Feb 11

**thomastansb** · 11-03-11, 09:21

That is the problem when people go in blindly. Never see the surrounding prices and chiong in. And they say, it is the next orchard

. Then everyone holding many units at negative value.

Then when crisis come, everything is equal. Reality sank in. Sanity is back. I remember Aristo was transacting near 2k psf when one amber was selling around 1.2k psf in 2007. Maybe people finally realise one amber is a better buy. Bigger site, better layout, better faclities etc.

Originally Posted by hyenergix

I thought an excerpt from an advertisement on Aalto mentioned breakeven cost around $2000 psf. Situation doesn't look good from the other advertisements in propertyguru http://www.propertyguru.com.sg/proje...lto-977/sale/1
Featured on Business Times

“The breakeven cost for a new luxury condo project on the site could be about $1,950-2,100 psf. A 25th floor unit at the nearby Aalto was transacted at $2,373 psf this month. Over at Seafront@Meyer, units on the 17-20th floors have traded at $1,875-2,051 psf in the past few months.”
http://www.businesstimes.com.sg/sub/news/story/0,4574,415564,00.html?

**smallant** · 11-03-11, 10:15

Aalto.... Still got developer units left.. was told 50 to 60% sold only..
The upper floor ,,, the banks cannot match the valuation..
Spoken to a sub sale agent there.. Was told someone let go a seaview unit at 18xx psf ! If tis price is high floor and really sea view .... Hmmm ..

**francophile** · 11-03-11, 10:30

But don't you think Meyer area is the best compromise for people who work at MB financial district and send their kids to UWC Tampines?Also the Canadian school and Chatsworth have branches in Katong.
Actually after reading the ccr/ocr threads I realised that the one thing ccr has that no other district has is a good Singaporean school.So,I would like to make the argument that it is not really the shopping but if Katong had an ACS equivalent,it could become a Tier 1 district because it IS near town.What do you think?

**devilplate** · 11-03-11, 10:32

Originally Posted by francophile

But don't you think Meyer area is the best compromise for people who work at MB financial district and send their kids to UWC Tampines?Also the Canadian school and Chatsworth have branches in Katong.
Actually after reading the ccr/ocr threads I realised that the one thing ccr has that no other district has is a good Singaporean school.So,I would like to make the argument that it is not really the shopping but if Katong had an ACS equivalent,it could become a Tier 1 district because it IS near town.What do you think?

i tot best schools located in bukit timah?

orchard is famous for its atas address la....nassim, ardmore....if meyer....ppl over here tink of indian community....LOL...but at least well to do indians

**urban** · 11-03-11, 10:34

Originally Posted by smallant

Aalto.... Still got developer units left.. was told 50 to 60% sold only..
The upper floor ,,, the banks cannot match the valuation..
Spoken to a sub sale agent there.. Was told someone let go a seaview unit at 18xx psf ! If tis price is high floor and really sea view .... Hmmm ..

Rental for one unit only concluded at $5.5k.
Sounds cheap..

**devilplate** · 11-03-11, 10:37

Originally Posted by urban

Rental for one unit only concluded at $5.5k.
Sounds cheap..

how big the size? if were to sell, worth how much? wats the yield?

**smallant** · 11-03-11, 10:39

5.5k ??? This is for wat floor ?
I view a lower floor unit and was told done at 4.8k just to a expat couple . The returns sucks...

Not sure why the rental yields are very low in Meyer area. Guess makes more sense to buy to live in rather than to invest..

**thomastansb** · 11-03-11, 10:40

Wow. Looking at URA data, the smallest unit transact between 2.1 to 3.1M. Let's take 2.5M, yield only 2.6%. And rental only $3.60 psf?

But Esta or One Amber also similar rental. Studio 2k+. 2 bedders 3k+ and 3 bedders 4k+. 5.5k is actually good for that location.

Originally Posted by urban

Rental for one unit only concluded at $5.5k.
Sounds cheap..

**thomastansb** · 11-03-11, 10:44

4.8 x 12 / 2.5M = 2.3% yield.

Originally Posted by smallant

5.5k ??? This is for wat floor ?
I view a lower floor unit and was told done at 4.8k just to a expat couple . The returns sucks...

Not sure why the rental yields are very low in Meyer area. Guess makes more sense to buy to live in rather than to invest..

**smallant** · 11-03-11, 11:02

2.6%.. with so many luxurious brands of fridge, wine cooler, washing machine, dryer, oven & even a dish washer for the tenant to enjoy and still 2.6% !!!
Oh not to mention curtains, LCD TV provided courtesy of owner..
Think will avoid this one for now as still got a bit of unsold distress units from developer !
Am waiting patiently for tat 18xx psf high floor sea view filed by sub sale !

**devilplate** · 11-03-11, 11:12

Originally Posted by smallant

2.6%.. with so many luxurious brands of fridge, wine cooler, washing machine, dryer, oven & even a dish washer for the tenant to enjoy and still 2.6% !!!
Oh not to mention curtains, LCD TV provided courtesy of owner..
Think will avoid this one for now as still got a bit of unsold distress units from developer !
Am waiting patiently for tat 18xx psf high floor sea view filed by sub sale !

sadly, if u r looking above 4% returns and FH status....only smaller 1/2bedders liao....

one amber 1bedder can achieve 3k pm which gives 4% yield even if u bot at 900k now....in 09, i was given a chance to buy at 9xxpsf....mid flr....

jus noticed one weird caveat...
1 Amber Gardens #19-04
Freehold
$1928
570
$1100k
22 Dec 10

how i wished i can find such buyer

**smallant** · 11-03-11, 11:19

think so too... Sigh,... those times are over !
I now hunting waterbank those 1+1 units.. saw tat 7th floor unit but thought mkt might correct when govt implement cooling measures so bid slightly above their purchase price..
But alas... still got done at their idea price ! !

Nevertheless.... the hunt continues.. for rental as my annity !

**AAA** · 11-03-11, 12:57

[quote=smallant]Aalto.... Still got developer units left.. was told 50 to 60% sold only..
**********************************************
So far 86% sold, 167 units out of 196 units. The $2710psf unit sold is a developer unit.

Private Residential Units* Sold in the Month of January 20111 record(s) retrieved.

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Printer-friendly PDF var CollapsiblePanel1 = new Spry.Widget.CollapsiblePanel("CollapsiblePanel1", { contentIsOpen: false }); Project Name Street Name Developer Property Type Locality Total Number of Units in ProjectCumulative Units Launched to-dateCumulative Units Sold to-dateCumulative Units Launched but UnsoldUnits Launched in the MonthUnits Sold in the MonthMedian Price
($psf) # in the Month Number Sold By Price RangeLowest Price ($psf) # in the MonthHighest Price ($psf) # in the MonthAALTOJalan KechilHong Leong Holdings LtdNon-LandedRCR19619616729061,871 1,828 2,710 Total (including ECs) 196 196 167 29 0 6 - - - Total (excluding ECs) 196 196 167 29 0 6 - - -

**bargain hunter** · 15-08-11, 13:28

2 more sold. 51 to go.

**Shawn** · 19-08-11, 00:20

Originally Posted by thomastansb

4.8 x 12 / 2.5M = 2.3% yield.

Dearest Thomas,

People buy such location not to look at the returns but to buy to stay. So whatever returns is not a major issue. Its a freehold address and regardless of anything, freehold still commands a premium compared to 99 years.

In addition, Amber district at around The Cape are considered the prime address of Amber cause its the nearest to the sea with no blocking compared to One Amber and The Esta.

It is also highly speculated that the future Amber mrt will be located around the roundabout near to Silversea and The Cape.

Btw, developer sold almost 30 out of 76 units at an average psf of $2100. Heard they are increasing price for the higher floors.

Also, if you want good returns, you can consider apartment near Geylang cause it gives more than 6% annual rental return.

**Shawn** · 19-08-11, 01:09

Originally Posted by thomastansb

Wow. Looking at URA data, the smallest unit transact between 2.1 to 3.1M. Let's take 2.5M, yield only 2.6%. And rental only $3.60 psf?

But Esta or One Amber also similar rental. Studio 2k+. 2 bedders 3k+ and 3 bedders 4k+. 5.5k is actually good for that location.

Btw if you want to buy a unit at Geylang, I have this unit for sale near Fragrance Hotel for $800k for 3 bedrooms. I also have 3 ladies from Myanmar looking to rent immediately at $4000. That will translate to an annual return of 6%. If they at one time cant afford to pay u rent, they probably can pay u in kind

**Rosy** · 19-08-11, 01:20

Originally Posted by Shawn

Btw if you want to buy a unit at Geylang, I have this unit for sale near Fragrance Hotel for $800k for 3 bedrooms. I also have 3 ladies from Myanmar looking to rent immediately at $4000. That will translate to an annual return of 6%. If they at one time cant afford to pay u rent, they probably can pay u in kind

4k rental is unrealistic. 2.8k-3k is the current market rental over there for a 3bdr

**bargain hunter** · 15-09-11, 13:03

1 more unit sold in aug at 1991psf. total 25 out of 76 sold.

**art10626** · 19-09-11, 14:07

Personally quite interested in tracking this project cos I find the 2k price tag is too much. No caveats lodged for this since may.... but looks like this really help to push prices in silversea, which saw 2 transactions above 2k psf in the last two months

**DC33_2008** · 19-09-11, 15:38

Should check the address. Could be foreigners.

Originally Posted by art10626

Personally quite interested in tracking this project cos I find the 2k price tag is too much. No caveats lodged for this since may.... but looks like this really help to push prices in silversea, which saw 2 transactions above 2k psf in the last two months

**Laguna** · 20-09-11, 21:18

25 Amber Road #12-07 613 $1,313k

$2,141 May 3, 2011 Uncompleted Freehold New Sale

25 Amber Road #04-01 850 $1,631k $1,918 Apr 12, 2011 Uncompleted Freehold New Sale
25 Amber Road #07-06 592 $1,195k $2,019 Apr 12, 2011 Uncompleted Freehold New Sale

25 Amber Road #03-01 851 $1,622k

$1,907 Apr 8, 2011 Uncompleted Freehold New Sale

25 Amber Road #05-01 850 $1,639k $1,928 Apr 8, 2011 Uncompleted Freehold New Sale

25 Amber Road #11-01 851 $1,743k $2,049 Apr 7, 2011 Uncompleted Freehold New Sale
25 Amber Road #11-04 581 $1,228k $2,113 Apr 5, 2011 Uncompleted Freehold New Sale
25 Amber Road #05-04 646 $1,302k $2,016 Mar 31, 2011 Uncompleted Freehold New Sale
25 Amber Road #08-03 570

$1,124k $1,971 Mar 29, 2011 Uncompleted Freehold New Sale

25 Amber Road #08-01 850 $1,674k $1,968 Mar 29, 2011 Uncompleted Freehold New Sale

25 Amber Road #07-03 571 $1,139k $1,996 Mar 29, 2011 Uncompleted Freehold New Sale
25 Amber Road #09-01 850 $1,672k $1,966 Mar 24, 2011 Uncompleted Freehold New Sale
25 Amber Road #06-03 571 $1,133k $1,986 Mar 23, 2011 Uncompleted Freehold New Sale
25 Amber Road #12-08 969 $2,023k $2,088 Mar 23, 2011 Uncompleted Freehold New Sale
25 Amber Road #03-04 646 $1,289k $1,996 Mar 18, 2011 Uncompleted Freehold New Sale
25 Amber Road #15-06 1,313

$2,780k $2,117 Mar 18, 2011 Uncompleted Freehold New Sale

25 Amber Road #07-01 850 $1,638k $1,926 Mar 17, 2011 Uncompleted Freehold New Sale
25 Amber Road #04-04 646 $1,296k $2,006 Mar 8, 2011 Uncompleted Freehold New Sale

**Shawn** · 15-11-11, 03:44

I just sold a 2 bedroom 592 sq.ft at The Cape for $1.3 million above 10th floor to an Indonesian buyer. This comes to about approx $2200 psf. This unit has no seaview and is on a mid floor. Buyer buying cause there is no 'FREEHOLD' unit of the same size developed by Far East in the same area and its proximity to the upcoming shopping area.

I have no doubt that this area will be the next orchard road pretty soon. Already the price is reflecting that possibility.

**devilplate** · 15-11-11, 09:34

Originally Posted by Shawn

I just sold a 2 bedroom 592 sq.ft at The Cape for $1.3 million above 10th floor to an Indonesian buyer. This comes to about approx $2200 psf. This unit has no seaview and is on a mid floor. Buyer buying cause there is no 'FREEHOLD' unit of the same size developed by Far East in the same area and its proximity to the upcoming shopping area.

I have no doubt that this area will be the next orchard road pretty soon. Already the price is reflecting that possibility.

did u brought ur client to see resale ppty nearby?

**kane** · 15-11-11, 09:47

Heh. Good question.

**hopeful** · 15-11-11, 10:29

Originally Posted by devilplate

did u brought ur client to see resale ppty nearby?

what is the resale ppty nearby? I dont want to be the next stupid Indonesian conned by Shawn.

**devilplate** · 15-11-11, 10:32

Originally Posted by hopeful

what is the resale ppty nearby? I dont want to be the next stupid Indonesian conned by Shawn.

u can google it rite? trick qn?

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