MRT changing OCR and CCR concept permanently?

[stalingrad]

I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...

And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...

I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...

In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....

That isnthe bottom line between CCR and ocr

good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.

[Jadey]

I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...

And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...

I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...

In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....

That isnthe bottom line between CCR and ocr

Thats not true, there are only several places or projects in CCR area which will appeal to the super rich. Not all properties CCR is good to be Bottega, there are many wannabe in CCR area as well.

[teddybear]

You must be joking! You try driving from your Hillview area to Orchard Ion you can reach in 20 mins? How about try that during peak hours?
Look for car park in Orchard? That is why I say walk lah! (choose the right place to live & you can walk, don't have to keep complaining looking for car park.)

Out of point. This is an MRT discussion - so the discussion is on how much time is saved if one takes public transport closer to the city. If one drives, lagi no difference because in Singapore, it takes ~20 min to drive everywhere - whereby 10 min is spent searching for car park or stuck in CBD traffic lights. if one drives, then the diff between the different "Rs" be it OCR or RCR or CCR becomes even more insignificant. Sometimes, the OCR or RCR is just 500m apart and if one drives like a snail at 60km per hour, the difference in travel time is only 1 min per 1 km. The big difference is when one takes public transport.

Not saying that city center shouldn't deserve a premium. just that the difference in travel time is not great, and a huge premium of >5x is probably not defensible. If OCR is 1kpsf, then CCR unlikely to hit 7k psf like one of the experts have predicted.

[SpinCity]

good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.

I would find telling people that I don't live in rivergate because I find it pretentious so pretentious and die.

People don't live in it because (1) cannot afford it, or (2) can afford it but don't like it, or (3) Can afford it, like it, but want to live in somewhere nicer

[teddybear]

Aiyo, Bottega is good enough meh? I'm looking for quality. The analogy should be: ccr= Hermes bag; rcr= bottega venetta; ocr= coach.

I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...

And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...

I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...

In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....

That isnthe bottom line between CCR and ocr

[teddybear]

Don't sound like sour grape. Can u name a tycoon who lives in OCR in Singapore ?

good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.

[blackpepperj]

Should load up more on CCRs since they are undervalued vis-a-vis OCR prices. Buy more buy more!

[Jadey]

Does anyone know what is the percentage split between owner stay and rental properties in OCR and CCR?

I am guessing (just a guess) that a higher percentage of the CCR properties are bought for investment rather than for own stay.


any comments?

[Jadey]

Don't sound like sour grape. Can u name a tycoon who lives in OCR in Singapore ?

maybe you could tell us how many tycoons are there in your CCR neighborhood and if all CCR properties are fit for tycoon.

[wind30]

Out of point. This is an MRT discussion - so the discussion is on how much time is saved if one takes public transport closer to the city. If one drives, lagi no difference because in Singapore, it takes ~20 min to drive everywhere - whereby 10 min is spent searching for car park or stuck in CBD traffic lights. if one drives, then the diff between the different "Rs" be it OCR or RCR or CCR becomes even more insignificant. Sometimes, the OCR or RCR is just 500m apart and if one drives like a snail at 60km per hour, the difference in travel time is only 1 min per 1 km. The big difference is when one takes public transport.

Not saying that city center shouldn't deserve a premium. just that the difference in travel time is not great, and a huge premium of >5x is probably not defensible. If OCR is 1kpsf, then CCR unlikely to hit 7k psf like one of the experts have predicted.

yup. Actually I think it is more impt to see how close you are to the expressway. If you have to pass by 3-4 traffic lights to hit the expressway, that is easily 5 minutes minimum. 5 minutes at 80km/hr is 7km.

Look at 7km on google map, you will be surprised how long it is.

Given a choice if I am driving, I would rather buy a property that has easy access to the expressway and a bit further away.

All that assuming the traffic is smooth on the expressway.

[sh]

yup. Actually I think it is more impt to see how close you are to the expressway. If you have to pass by 3-4 traffic lights to hit the expressway, that is easily 5 minutes minimum. 5 minutes at 80km/hr is 7km.

Look at 7km on google map, you will be surprised how long it is.

Given a choice if I am driving, I would rather buy a property that has easy access to the expressway and a bit further away.

All that assuming the traffic is smooth on the expressway.

Sometimes it's not the time that it takes that makes a difference.

Even tried driving down CTE during peak hours? Makes my blood boil....

Cannot imagine myself driving to work every morning and back home thru CTE everyday. Think twice about staying in Yishun no matter how cheap it is....

[teddybear]

Didn't I say that there are many "fake" CCR areas that are not even worth the price or fit for many of us, let alone tycoons?

maybe you could tell us how many tycoons are there in your CCR neighborhood and if all CCR properties are fit for tycoon.

[teddybear]

Wah, in your eyes, anybody driving Mercedes or living in CCR must be so pretentious and a snob!

This reminds me about the story about that fox which was unable to reach the grapes at the top of the vine to eat was very happy to psycho itself that the grapes must have been very sour!

By the way, life is precious. Give me free small-size cars I also don't want, don't know when ping-piang, die die! think somebody should give you free MM car for you to ping-piang! then it will be very peaceful here!

good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.

[wind30]

Sometimes it's not the time that it takes that makes a difference.

Even tried driving down CTE during peak hours? Makes my blood boil....

Cannot imagine myself driving to work every morning and back home thru CTE everyday. Think twice about staying in Yishun no matter how cheap it is....

you don't drive CTE nowadays right?

Actually the CTE is VERY smooth for the past month during morning peak since they widened the braddel and pie flyover.

Hopefully the improvement can last until they open the NS expressway

[sh]

you don't drive CTE nowadays right?

Actually the CTE is VERY smooth for the past month during morning peak since they widened the braddel and pie flyover.

Hopefully the improvement can last until they open the NS expressway

Glad to hear that things improved. hope it stays....

Haven't driven there lately during rush hour on weekdays.

On saturday afternoons, traffic is still heavy though...

[flagship74]

Glad to hear that things improved. hope it stays....

Haven't driven there lately during rush hour on weekdays.

On saturday afternoons, traffic is still heavy though...

Not really true. that's depend whether have accident or not

[Eldenfirefly]

But seems like a bit play cheat to me... Last time, people only consider district 9,10,11 when they talk about prime residential property. Everything else is non-prime.

Now suddenly, everything inside CCR is considered prime? And this CCR region is so big it encompasses areas like Bishan when in the past, I doubt if anyone has ever considered Bishan "central".

And even with the expanded border, there are still areas covered by circle line which are outside of CCR, and circle line will make these areas sought after as well.

[Jadey]

But seems like a bit play cheat to me... Last time, people only consider district 9,10,11 when they talk about prime residential property. Everything else is non-prime.

Now suddenly, everything inside CCR is considered prime? And this CCR region is so big it encompasses areas like Bishan when in the past, I doubt if anyone has ever considered Bishan "central".

And even with the expanded border, there are still areas covered by circle line which are outside of CCR, and circle line will make these areas sought after as well.

I think you are little confused by the meaning of CCR, CCR = Core Central Region, which consider of the traditional prime district + marina area + sentosa. Bishan is located in the RCR, not part of CCR.