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Thread: A few CCR transactions sold at a loss (reported in The Edge)

  1. #301
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    Quote Originally Posted by Eldenfirefly
    Hmmm, so suites@newton priced at 1.2 million (2150 psf) is priced too high? But watertown priced at 1300/1400 psf sell like hot cakes... I saw one cavaet - 1.2 million for a 807 sq feet unit (1465 psf). 2 bedder?

    Quantum is about the same - both 1.2 million, but demand is very different! Why??? If quantum is small, then, all the CM should affect it equally leh. Why the difference? OCR properties also must pay ABSD mah.
    The key difference here is one is completed (= immediately 100% burden) the other is new launch (= worry abt it 4 years later = surely got a bigger idiot to buy from me 4 years later = worse case i can go stay there myself and sell/rent out my HDB)

    They all forget their paper profit in HDB might no longer be there 4 years from now. as everything is inter-connected: if condo making money, hdb will also be making money.. if condo not making money... hdb also not making money...

  2. #302
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    both new launch la....aiyo

    the diff is same quantum but one is 1bdr MM and the other is a 2bdr

    1bdr in Wt only 5xx-6xxk wat....the other mm oredi 1mil++

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    Quote Originally Posted by dtrax
    Total loss

    ONE SHENTON 1 Shenton Way #23-02 1 147 Strata 3,415,440 23234 2159 24-JAN-2007 Apartment 99 Yrs From 14/10/2005 Uncompleted New Sale HDB 01 06 068803 Central Region Downtown Core

    ONE SHENTON 1 Shenton Way #23-02 1 147 Strata 3,124,450 21255 1975 02-MAR-2012 Apartment 99 Yrs From 14/10/2005 2011 Sub Sale Private 01 06 068803 Central Region Downtown Core
    Looks like the ccr train is coming back for more passengers.

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    Quote Originally Posted by devilplate
    both new launch la....aiyo

    the diff is same quantum but one is 1bdr MM and the other is a 2bdr

    1bdr in Wt only 5xx-6xxk wat....the other mm oredi 1mil++
    Yeah, that's true. But I brought up the example because both in the region of 1.2 million mah. So quantum wise, its comparable.

    If quantum is the same, then all the reasons regarding CM, ABSD don't apply. That's why I was asking, is the newton one priced too high? What if Sky habitat can move a 1 bedder MM at 1900 psf?

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    Quote Originally Posted by devilplate
    both new launch la....aiyo

    the diff is same quantum but one is 1bdr MM and the other is a 2bdr

    1bdr in Wt only 5xx-6xxk wat....the other mm oredi 1mil++
    hahaha... eye pak jiao.... i thought he meant newton suites... which is completed....

    my bad....

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    Quote Originally Posted by kane
    Looks like the ccr train is coming back for more passengers.
    19xxpsf is the fair value....

    clift smallish unit only 2200psf....this one so big quantum....19xxpsf oredi very high imo

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    Quote Originally Posted by Eldenfirefly
    What if Sky habitat can move a 1 bedder MM at 1900 psf?
    can sell 1bdr at 1mil++ den u can say gap narrow lah

    for now just wait and see....rcr 1bdr now about 8xxk for 1bdr

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    But but, if Newton sell at 2100 psf hard to move, and Bishan Sky Habitat sell at 1900 people cheong in and grab, then that already means gap is narrowing leh...

    I put it another way. If the Newton MM were to price at 1900 psf, do you think sales there will spike up?

  9. #309
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    You first time property buyer/investor is it?
    You don't know CCR properties are mainly bought by foreigners? At last count, foreigners account for 35% of CCR properties' buyers!

    Demand is not there for CCR? If so why need 10% ABSD knowing the above fact and scaring that there is demand in CCR?


    OCR selling like hot-cakes? Sure, because affordable mah, anything below $1.5m regardless of size sure sell! I really believe these OCR new launch property buyers buying Bedok Residences at $1500 psf or WaterTown at $13xx psf are either idiots, people practising "greater fool theory" (wanting to flip to next fool) or mentally retarded! They can't buy the other nearby resale properties at 35% cheaper?

    Oh wait, there is 1 more group of buyer 1 highlighted before, they are the ones who have little CASH, who die die can only buy new launch but not resale properties (no cash to renovate, no cash to pay 40% downpayment immediately!).


    Quote Originally Posted by Eldenfirefly
    Hmmm, but seems like there are some which are launched already a while back, but still remaining unsold. The demand is just not there. Meanwhile, OCR selling at very high psf prices and yet, flying off the shelf like hot cakes... Watertown mostly sold, others also seeing strong demand.... Why????

    The difference between CCR demand and OCR demand seems to be quite stark. developers dun even dare the launch CCR units, which in itself is a function of the low demand there now compared to OCR.

  10. #310
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    You lucky I not lucky. So, have to curse them everyday!
    Will VOTE with my feet! Will gather all my family members, relatives, workers etc etc ready for 2016....

    Ok ok, joke aside, I am not selling, so no problem. They better don't play punt in future when I am going to sell...


    Quote Originally Posted by devilplate
    All due to 10% absd....in fact, oct nov 2011, ccr resale activity picking up but suay suay cm5 pull the handbrake....

    U see clift...last yr every mth got healthy transactions.....since cm5 out.....gone oredi...

    But luckily smallish unit i just hold tight tight collect rent

  11. #311
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    I challenge them to remove all ABSD, SSD and CMs! Then we see whether got "new paradigm" or not?

    Quote Originally Posted by amk
    .. u still want to believe your "new paradigm" theory.. if it makes you feel better that way....

    this has NOTHING to do with the "new paradigm" theory. CMs and ABSDs are the real reason.

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    I doubt if they will remove any time soon. If anything, u see the Feb sales so strong. Scarly more CM coming in! Its political hot potato. OCR prices are out of control. Pungol can sell for 1300 psf??? Like that how to eliminate all previous CM? We will be lucky if they don't add new one, in fact!

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    Agree that both quantum about the same, but because if you are dwarfs and mickey mouses, you can still squeeze into WaterTown units but not Suite@Newton units mah! So simple also don't understand?

    amk they all forget to mention that size also affect mah!

    Quote Originally Posted by Eldenfirefly
    Hmmm, so suites@newton priced at 1.2 million (2150 psf) is priced too high? But watertown priced at 1300/1400 psf sell like hot cakes... I saw one cavaet - 1.2 million for a 807 sq feet unit (1465 psf). 2 bedder?

    Quantum is about the same - both 1.2 million, but demand is very different! Why??? If quantum is small, then, all the CM should affect it equally leh. Why the difference? OCR properties also must pay ABSD mah.

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    ?? Both are small leh. Its not like the Watertown units very roomy leh. Also small small one...

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    Hah? You don't know Newton Lincoln Suites 1 bedder previously sold at $25xx psf?
    Talking about Bishan $1900 psf? If they can't achieve $1900 psf, then it just shows that the gap is still big!

    Quote Originally Posted by Eldenfirefly
    Yeah, that's true. But I brought up the example because both in the region of 1.2 million mah. So quantum wise, its comparable.

    If quantum is the same, then all the reasons regarding CM, ABSD don't apply. That's why I was asking, is the newton one priced too high? What if Sky habitat can move a 1 bedder MM at 1900 psf?

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    Depends on how you view it. Price at 2500 psf, but sales are not moving much. Whereas in OCR, price at relatively high psf, but sell like hot cakes. That in itself indicate something already mah.

    Pungol watertown priced at 1300 psf for a 1 bedder MM is quite ridiculous leh. But still sell like hot cakes.

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    Yes, didn't I say that:
    "if you are dwarfs and mickey mouses, you can still squeeze into WaterTown units but not Suite@Newton units" ?

    How can human be smaller dwarfs? No right? So no choice whole family cannot squeeze into Suites@Newton at price of $1.2m absolute figure.

    Quote Originally Posted by Eldenfirefly
    ?? Both are small leh. Its not like the Watertown units very roomy leh. Also small small one...

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    Lol personally, I think people mostly buying it for investment. They themselves not intending to stay there. So, they have no idea how small it is. When they get the keys, they will know...

  19. #319
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    Ok, I give up.... Just now you say price, now you say can't move.

    Yes yes, OCR is the heaven, price sure rise higher than CCR. CCR owners, all sell, sell, sell. Sell to me CHEEP CHEEP!

    Quote Originally Posted by Eldenfirefly
    Depends on how you view it. Price at 2500 psf, but sales are not moving much. Whereas in OCR, price at relatively high psf, but sell like hot cakes. That in itself indicate something already mah.

    Pungol watertown priced at 1300 psf for a 1 bedder MM is quite ridiculous leh. But still sell like hot cakes.

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    1 sentence:
    "No amount of govt laws & regulations & nagging can cure people's stupidity!"

    They always believe they are smarter than the other fool out there they will be able to sell to!"

    Didn't govt says developers must label the size of the units, must build proportionally the show flats, must draw in correct proportions on the floor plan (not distortions like single bed appear like King-size bed)?


    Quote Originally Posted by Eldenfirefly
    Lol personally, I think people mostly buying it for investment. They themselves not intending to stay there. So, they have no idea how small it is. When they get the keys, they will know...

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    Quote Originally Posted by Eldenfirefly
    Depends on how you view it. Price at 2500 psf, but sales are not moving much. Whereas in OCR, price at relatively high psf, but sell like hot cakes. That in itself indicate something already mah.

    Pungol watertown priced at 1300 psf for a 1 bedder MM is quite ridiculous leh. But still sell like hot cakes.
    I also agree that 1,300psf for Punggol is too expensive.... Like that I will rather try for East Coast or Buona Vista...

  22. #322
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    hdb address buyer buay tahan?

    Quote Originally Posted by dtrax
    Total loss

    ONE SHENTON 1 Shenton Way #23-02 1 147 Strata 3,415,440 23234 2159 24-JAN-2007 Apartment 99 Yrs From 14/10/2005 Uncompleted New Sale HDB 01 06 068803 Central Region Downtown Core

    ONE SHENTON 1 Shenton Way #23-02 1 147 Strata 3,124,450 21255 1975 02-MAR-2012 Apartment 99 Yrs From 14/10/2005 2011 Sub Sale Private 01 06 068803 Central Region Downtown Core

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    I don't get why the owner of one shenton 20+ floor go and sell at below 2000psf. Good location will show its value eventually.

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    Due to MBS or RWS?

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    most of the losses are occuring in the $3m to $5m quantum. i find this segment particularly vulnerable to last jan + last dec measures. a playground for foreigners previously (easily buying multiple units of this quantum), it is now dependent on locals. not many locals want to put 40% down (1.2m to 2m) upfront. worse, the euro crisis also meant that rents above 8k are hard to come by + there is a current TOP spree of such condos in 2012/2013.

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    cannot tahan liao how to wait for eventually?


    Quote Originally Posted by kane
    I don't get why the owner of one shenton 20+ floor go and sell at below 2000psf. Good location will show its value eventually.

  27. #327
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    No holding power, not steady, scared by his agent(s) to sell because their famous tactics to sellers are: "more cooling measures coming, better sell now or never!" Owners scared cannot hold so long, so sell low low loh! Agents get to collect 1% commission, that is $34,150.00 for just coming out with this "famous" 1 sentence!

    Want to know whether their "famous" sentence will be effective or not? First check whether they live in HDB? If in private then check whether live in CCR or OCR? If latter easier to scare them off to sell, former more difficult! Ops!

    Quote Originally Posted by kane
    I don't get why the owner of one shenton 20+ floor go and sell at below 2000psf. Good location will show its value eventually.

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    Aspen Heights $1,300,000 883 sq ft 1473psf Feb-12

    Seller bought in mid 1996 at $1.215m 1377psf.

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    min. 420k loss. sad.

    Quote Originally Posted by teddybear
    No holding power, not steady, scared by his agent(s) to sell because their famous tactics to sellers are: "more cooling measures coming, better sell now or never!" Owners scared cannot hold so long, so sell low low loh! Agents get to collect 1% commission, that is $34,150.00 for just coming out with this "famous" 1 sentence!

    Want to know whether their "famous" sentence will be effective or not? First check whether they live in HDB? If in private then check whether live in CCR or OCR? If latter easier to scare them off to sell, former more difficult! Ops!

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    Previously #10-07 $2.02m 1224psf during developer launch in Apr 2007. thin profits but made money.
    '
    Quote Originally Posted by dtrax
    More weak hands?

    WATERFORD RESIDENCE 23 Kim Yam Road #10-07 1 153 Strata 2,139,800 13986 1299 28-FEB-2012 Apartment 999 Yrs From 01/07/1841 2010 Resale Private 09 23 239333 Central Region River Valley

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