don't worry about bro HP65, he has holding power. i agree with him for long term view. hold until en-bloc (not sure when though).
Originally Posted by stalingrad
don't worry about bro HP65, he has holding power. i agree with him for long term view. hold until en-bloc (not sure when though).
Originally Posted by stalingrad
gotta ask bro HP65. my guess is $500 (could it be more?! )
Originally Posted by Jadey
to bring the rental yield to 3% per year, the buyer should offer only $1200psf. but the buyer is willing to buy $1,550, why? if indeed that is not a lie, the buyer probably had en bloc in mind. but en bloc at good prices for that location is unlikely.Originally Posted by Jadey
to make a offer of 1,550 work, the en bloc price should be at least 1700psf. adding construction cost of 400psf, the new condo has to sell at least 2,200 to break even. that is why, enbloc is not likely.
d'leedon can't sell even at 1600psf.
Tulip garden, spanish village and SP all have a plot ratio of 1.6. Not alot if you ask me, if the buyer buys at 1600psf, the upside of an en bloc will not be too big. The downside of not having an en bloc and to wait for another 1 or 2 decade will be even greater. $1200psf on the other hand will be a very attractive offer.Originally Posted by stalingrad
developers can offer much higher price if the plot ratio is not maximized, plus 10% bonus GFA for balcony. Developers only need to pay DC for balcony bonus and unused plot ratio, which will bring down the average land cost. To me that's where the value of enbloc is. Since SP is 33 years old, most likely it has such enbloc potential since the baseline is on the master plan ages agoOriginally Posted by stalingrad
D'leedon units are transacted between $1,487 and $1,757psf, what do you mean by it cannot sell at 1600psf?
D'leedon average transaction price for the last 2Q is around $1570 to 1590 and the average size is about 900sqft.Originally Posted by SpinCity
need I say more?Originally Posted by Jadey
D'leedon is LH99, so it loses the premium of a FH unit.
Sommerville, tulip garden and spanish village are all big development with many units. But currently developers now are very reluctant to spend alot of money on a single plot of land. Furthermore, these 3 developments are competing among themselves for a more attractive price for the developers. LOL.
Normally during an en bloc, the bigger townhouse, mas units will get less psf compared to the smaller units. My guess is that if an en bloc does go thru, GH's townhouse will fetch around 19xx-21xx psf. The price of paying 15xxpsf with CM4 does not sound very attractive to me.
if d'leedon cannot sell at $1600psf, what is the chance of a redeveloper of Sommerville selling at 2,800psf, which is needed to make the en bloc purchase worthwhile.Originally Posted by windcar
developers can make more money by buying OCR lands from the Government. Just look at FEO's profit margin at the tennery.
No need to say anything, I find the information for you to make it easier:Originally Posted by stalingrad
From URA's website:
From Apr to Jun, D'Leedon unites transacted between S$1,482psf to S$2,055 psf from Apr to June 2011
who says the developer have to sell at 2800psf?Originally Posted by stalingrad
if GH's unit sell to developer at 2000psf, it does not mean that the developer are paying 2000psf per plot ratio. Maybe they are only paying 1300psf per plot ratio? which means they can break even if they sell you at 1800psf for the new unit.
back to fundamentals, rental of OCR still going up more than CCR.
it seems that there is still a lot of rental demand at the low end of the market, be it hdb flats or OCR condos. but i also hold the view that will change in the years down the road.
Originally Posted by bargain hunter
I recently rejected a $25xx psf offer from some agent don't know how they get to know my number and owned unit (who is selling our data to these agents? ). Sell prime Orchard at such price? I must be an idiot!
Originally Posted by HP65
Sorry have to speak up for HP65. I have a friend who also has a townhouse in sommerville. It's rented out 14.5k 3 months ago. At the time already considered low. He also had an offer ard 6m I think, and he rejected.Originally Posted by bargain hunter
Have u actually been there ? Very big apartment and land size. Very peaceful and convenient. Remind me of Yong An Park. The value of this type of property lies both in its location and its big land size. My friend is very firm not to sell it. He said ppl in SG had not really realized the value of prime land, especially large prime land next to botanic garden.
Well said. The lush green serene ambiance is a great contrast to the busy road outside. Not all will appreciate quiet peaceful surrounding n the charm of the area.Originally Posted by amk
i m not putting HP65 down at all, so no need to speak up for him. i agree with you on the charm of sommerville and yong an. but really depends on the condition of the unit. becoz i got the impression that HP65 did not do much renovation in the last 30 years hence, i said 14.7k is not realistic.
Rental for big units has not gone up much in the last 3 months has it?
i am all for big old units/land size (agreeing with proud owner) but from an en-bloc perspective. but for those looking from rental perspective, better have holding power.
i still think BIG NEW units got problem justifying their prices though. low rental yield, yet plot ratio maximised liao.
Originally Posted by amk
some coincidence. the title of today's cover page of City & Country pullout of "The Edge": Growth in prime rents to soften.
i feel that the main reason for price increase is the housing shortage of HDB causing the overall property market to rise. This caused the price being pushed upwards (biggest increase is seen in HDB and the lowest increase in prime location).
In a purely speculative market, the price is being pulled upwards by prime location and the price increase is tapered down to the lower end housing.
Just my thought and i may be wrong.
got soft copy to share?Originally Posted by bargain hunter
Originally Posted by SpinCity
There are a total of 56 transactions for D'Leedon between Apr to Jun 2011.
The average psf price is $1597psf and average size is 837sqft.
The 2055 you highlighted is one-off and it is for a 786sqft unit.
Originally Posted by stalingradClearly the market dont see eye to eye with you. There are still many pple whom appreciate the lush greenery and diverse character of D10, chances D10 becomes lower than D5 is not too high in the near future. As least in the mind of the majority.Originally Posted by Jadey
Anyway its a good thing, so u wont be faced with an option to purchase at a lower price(than D5) to consider "downgrading" to D10 in the far away future. Its a good thing your wife hates D10 as well.
I was talking about the range of the samples; what's wrong with it?Originally Posted by Jadey
It is too early to call that 2055psf/786sqft transaction an outlier now. Even the mean of 1597psf to which you refered is good enough to prove that D'Leedon can sell at 1600psf as a good portion of the transactions were done above 1600psf to result in the mean
numbers can be very misleading if they are not presented properly.Originally Posted by SpinCity
Some Lakeside apartments are already going for $1400psf, so there is no reasons to doubt that D'Leedon will go above average price of $1600 soon. However looking at the average unit size of 786sqft, I think it does show some weakness in that development.
Wow....strong statement..... Even same prices he wants to stay at west coast side.....amazingOriginally Posted by stalingrad
Serious? Lakeside units selling 1400Psf? Don't mind share which development, I wanna check it out.Originally Posted by Jadey
I comb thru D22 briefly, average 800 Psf n below. Centris touch 1k Psf . quiet scary to think someone dare chong 1400 when average Psf is ard 800psf. 1400psf issit those 350sqft hse? Ard $500k to buy "hotel room" house?
TB, I agree. If SC can afford to hold out Hilltops at $5000 psf and slowly A&A that place unit by unit, I dun see why you should sell out prime Orchard at 50% discount. Last weekend, I thought I saw somebody swimming at Hilltop main pool and from my place, it looks like only 2 units are occupied (at night can see only 2 units with lights on, furniture in the unit, with people moving around). The rest of the other units still machiam like under renovation. Unless its SC himself swimming in the poolOriginally Posted by teddybear
No wonder teddy so fed up lor....i believe his unit aso can fetch 2500psf in 07....heheOriginally Posted by HP65
To pay 6mil for a townhse in sp....must b foreigner? I wud go for landed n rebuild if i got such budget
Interesting, you use the "asking price" of 1400psf as the benchmark for the whole Lakeside area, but discount the actual "transacted price" of 2000psf for D'Leedon which is only one developmentOriginally Posted by Jadey
Last edited by isaacycc; 23-07-11 at 10:33.
Wah...ur first virgin post after 2yrs....Originally Posted by isaacycc