Global recession is coming....
The job of a over-leveraged speculator?
This is what we called buy HIGH sell LOW!
$1978 psf? Phew! The price is not much more than those OCR studio!
Wow! It is a price drop of about 33%!
Can we find any OCR property whose market price has dropped by 33% or more?
No wonder CCR property price has CRASHED!
Originally Posted by bargain hunter
Newbie
$2.2m loss.... phew! no sweat for the seller.
Address: 22,LEONIE HILL ROAD,#09-02ContractDate Amount UnitPrice AreaSqm PSF Sale Type Tenure
22-Dec-2015 $4,450,000 21292 209 1978 Resale Freehold
15-Jun-2007 $6,610,000 31627 209 2938 Sub Sale Freehold
Senior
A very high floor 4 bedroom unit (2250 sq ft) at Reisdences @ Evelyn has transacted at 1600psf. look out for the caveat. seller bought at 1978psf in 2007. 19% loss but because of the size, the loss is $850k. assuming rental has covered all the other costs and more, maybe the loss is a little less.
anyway 1600psf is a new multi year low for this project.
Senior
Turquoise remains the ultimate winner though:
Sold 7 JAN 2016 55 COVE DRIVE #XX-XX 2,153sq ft 1,400psf
Bought 30 NOV 2007 2,623psf
-46.6%.
Global recession is coming....
Wow!
Sentosa condos as cheap as OCR condos!
Newbie
the seller made a cool $800k in 2 months....
Address: 51,COVE DRIVE,#05-08
ContractDate Amount UnitPrice AreaSqm PSF Sale Type Tenure
3-Sep-2015 $3,700,000 18227 203 1693 Resale 99 Yrs From 12/03/2007
8-Jul-2015 $2,900,000 14286 203 1327 Resale 99 Yrs From 12/03/2007
29-Oct-2007 $6,038,490 29746 203 2763 New Sale 99 Yrs From 12/03/2007
Senior
this one doesn't make sense right? make 800k and pay 16% SSD? government makes 19%-$5,400. agent makes 1 to 2%, flipper makes at most $84k? in this kind of market, i think its very unlikely to be a real deal.
Senior
btw, there's yet another unit at turquoise for bank auction sale. 4 bedder 2777 sq ft i think. this one is likely to fetch close to the above 3 bedder's price. makes the 3 bedder caveat above seem very unlikely.
Senior
http://www.propertyguru.com.sg/listi...sale-turquoise
even another one not a bank sale also asking at 3.9m
Global recession is coming....
Genuine sale or not?
If my agent advertise like that "fire sales" "Must sell!!! Very Serious Seller!!!!!" blah blah blah, I will fire him/her...
This agent basically killed the seller's bargaining power to negotiate for a better price (if what has been advertised is true)...............
Senior
likely genuine. u have to think from the seller's point of view. already very desperate. already lose so much so what is a few hundred k more. as long as around current market value will let go type. we have seen quite a few units at Turquoise at this price range already and at least another one to go for bank auction. prices are around this level.
the bank auction is by knight frank, #04-09 2,777 sq ft.
Genuine sale or not?
If my agent advertise like that "fire sales" "Must sell!!! Very Serious Seller!!!!!" blah blah blah, I will fire him/her...
This agent basically killed the seller's bargaining power to negotiate for a better price (if what has been advertised is true)...............
Junior
Genuine sale or not?
If my agent advertise like that "fire sales" "Must sell!!! Very Serious Seller!!!!!" blah blah blah, I will fire him/her...
This agent basically killed the seller's bargaining power to negotiate for a better price (if what has been advertised is true)...............
Understandable. Sea view in Singapore is actually rusty tanker view. What is the point of living on the island if one is not retired and has to go to work with a lunch box on a daily basis? Even if one is retired, it is not that appealing to be be cut off from most amenities.
Global recession is coming....
I don't have favour for sea view........
Things rust too fast and amenities spoil easily with the salty winds and air.......
Have to agree there is gantry there that cut off from the rest of the mainland Singapore and it is very inconvenient, no matter how many road lanes they build into Sentosa, .......
I already warned years ago about the hype about Sentosa and beware!
Don't be naive to believe that all CCR areas are equal!
Sentosa is a late-inclusion into "CCR" category and want you to make believe that it is like "CCR"..... The price now shows that it is no better than OCR......
Senior
we once had a forumer called property owner who moved out of sentosa because of the lack of amenities.
it is public info that Dr Finan Tan and Kong Hee own penthouses at oceanfront though.
Newbie
maybe the flipper is an agent himself.....
Newbie
Came across this: Westcove Condominium... it was sold for only $94 psf in 1998?!
Address: 16,WEST COAST CRESCENT,#03-01
ContractDate Amount UnitPrice AreaSqm PSF Sale Type Tenure
1-Dec-1998 $107,000 1009 106 94 New Sale 99 Yrs Fr 1/3/1995
22-Mar-1996 $708,381 6683 106 621 New Sale 99 Yrs Fr 1/3/1995
Junior
Global recession is coming....
Typo?
More like $940 instead of $94 psf?
Senior
Orange Grove Resi
Sold 20 JAN 2016 31 ORANGE GROVE ROAD #XX-XX 2,422sq ft 1,652psf
Bought 14 FEB 2007 2,103psf
previously listed as a mortgagee sale. not sure if sold at auction or subsequent private treaty.
Senior
stalin's favourite Duchess Residences
Sold 7 JAN 2016 102 DUCHESS AVENUE #XX-XX 1,464sq ft 1,701psf
Bought 1 AUG 2007 2,200psf
Senior
8 Napier
Sold 6 JAN 2016 8 NAPIER ROAD #XX-XX 2,013sq ft 3,200psf
Bought 3 DEC 2007 3,630psf
Senior
as promised, residences @ evelyn
Sold 19 JAN 2016 15 EVELYN ROAD #XX-XX 2,250sq ft 1,600psf
Bought 18 JUL 2007 1,978psf
Newbie
So scary.. Prices are falling now.
But others in sommerville aka farrier drive still commanding strong price, maybe near mrt. So if development near mrt are still safe for now. What's yr take, bro BH?
Senior
actually, prices are not falling. these losses were mostly incurred because people had bought at irrational prices during the 2007 CCR euphoria. where psf was the only thing that mattered and nobody bothered about the quantum.
current prices i feel has not fallen much since 2014. there are pockets of cheap sales here and there but most of the fall has already happened. so to me, its more like has fallen. it may still be falling but it all depends on the project.
Senior
take the e.g. of the duchess residences unit: 1701psf. for 2015, the range was 1634 to 1811psf. so its about there.
Senior
or e.g. waterfall gardens: for the 2196 sq ft unit. mar to jul 2015 1512 to 1548psf. suddenly in dec, there's a 1631psf transaction. which is a 3 year high actually. including the 1830 sq ft units, range over the past 3 years was 1450psf to 1655psf. only 12.4% even without considering the attributes of each unique unit.
Senior
d'leedon: one off offer in jan 2013 at 12xxpsf moved a lot of units. since then only high floor units left. 2015 transactions excluding small units were at to 1453 to 1888psf. where got drop?
Senior
Robin Residences: launched in july 2014.
psf range in 2014 was 2206psf to 2450psf
psf range in from jan 2015 to jan 2016 is 2282psf to 2518psf
prices are UP!
Junior
You made my day.
Newbie
Not sure if this is a true transacted price but could be some cash back ... I heard recent sale in bishop gate cash back close to $1M.
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