There is this thing call the URA website which you can check for rental transaction.
From what I see, one 3 bedder was indeed rent out at $5000 in Nov 2013.
So please stop all the childish argument.
Just wondering how come people living in CCR is so childish and low class.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Last edited by stalingrad; 01-01-14 at 01:49.
Frankly CCR lose $$ transactions tend to be big units. The studio n 2 bedders are fairing much better.
My unit was rented out in a mth on market. But I m not picky with pricing n priced it reasonable to market. Not fretting over that 100-200 bucks.
I know some pple take mths but becoz they are not flexible.
But one thing I notice lately is tenant pool is drying up. So don't be too picky ah.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
perhaps i'm the odd one out. i didn't think its a good deal even though I agree that its below the market price for this project. so the answers to your questions would be:
1) If I'm aware of the unit, I would neither view it nor buy it because:
(i) for investment property, there are many such units in other projects which are asking at similar/below current price which can't find buyers even though they are not as "special".
(ii) it is my personal belief that there is a decreasing pool of buyers for units priced between $3 to $5m and there is no rush as other units could come by in the next 2 years.
2) My personal viewing experience with some other units in the 4m range is that while there are still many viewers, very few are willing to give a cheque to offer. So perhaps the seller wanted a quick sale and was happy to get $4m for it since its a company and not a person selling.
A Morgan Stanley managing director thinks this unit is worth 4mil, that is a good thing dun u think ? 4mil is basically the base developer price for all 08 units.
On that other hand, the company, who has no real need of funds and no "TDSR" whatever impact decides to sell below its cost level, for this one can only speculate.
To hopeful's human behavior study: it's simple, sell at profit is normal, sell at loss with no reason is not logical, of course will attract speculations. For buying why no one thinks 4mil is gd deal until a clueless ang mo did it, simple, ppl are always cheap, want to buy lower than the lowest, until some one did it before him.
To bargain hunter, I maintain my view 4mil is good buy. For new projects developer price is always the barrier, very few owner will do below developer price unless he has no choice. (and this is not UOL type of "developer price", th price is consistent throughout) If there is no ABSD and TDSR, I will take it.
..............
You are not the odd one out.
For 1.i) and 2), I am one of those who viewed $4m range units recently with no intention to offer a cheque at all.....
For 1.ii) 6 months to find a drunken folk buying a no good unit from me...yet money made just enough to buy a case of Romanée-Conti.
A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...
What a senile and useless comment. Without ABSD and TDSR, a lot of people will take it, not just you. So, what is your point? or, shall I say, what is your pointless point.
I view CCR properties as a house of cards. The whole thing will come crashing down in a few years. What it takes is for a few to take the plunge. The rest will soon follow.
I see absolutely no reasons for people to live in CCR. There is nothing you can get in CCR that you can't get in OCR except snobbery.
in point ii, u feel tat since there is lesser genuine buyers for large units, u can hv better deal 2 yrs down the road.
my qn is, wif tdsr here to stay for gd, do u still tink it is still wise to invest in big units wif big quantum?
in future when u r gg to sell, u will face exactly the same difficulty as the current owners.
so many large ccr units selling at a loss, is tis a signal of the limit in which market can digest?
Ccr is no big deal because not all ccr is prime. Want to play with big fish go buy central area instead.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Cannot agree more on this. For locals, there are more schools, markets and food courts in other areas than CCR. Besides, ERP is also a killer, no matter one drives, or takes taxi, he/she cannot avoid the ERP.
as for foreigners, I think those who are not familiar to SG will rent a unit in CCR first. Once they get familiar with the places, they will move to RCR or even OCR.
One friend once rented an old condo around Orchard, but one year
later, she moved to Kovan. according to her, "it is stupid to stay in such an old place for so long a time, eating instant noodles most of the dinners".
i feel within the next 2 years, better deals could pop out so just keeping a lookout for now.
it will be wise to invest in big units IF the price comes down A LOT.
I do not intend to sell if i do buy AT A GOOD PRICE. will hold till en-bloc in 30 years time.
the units selling at a loss i feel is still just clearing the excesses of 2007 for CCR. Many blindly bought units based on psf irregardless of quantum then and are currently suffering from poor rental yield.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
CCR is a house of cards? What you say is a joke!
Let's do a realistic analysis:
CCR property, selling $1700 psf.
OCR property, selling $1500 psf.
Wow! Is OCR too expensive and a house of cards OR CCR? Anybody with a right sense of mind will know the answer. Need we say more?
Conclusion: Either OCR is too expensive or CCR is too cheap!
You better hope that CCR is too cheap otherwise your OCR house of cards will come crashing down! What is the expected OCR fair value? Probably $850 psf? (<= half of CCR price!).
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."