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

  1. #1501
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    Quote Originally Posted by minority View Post
    all these are big units. which cannot move after the TDSR kicks in and rental slowing.

    Hows the performance of MM any lost in these areas?
    No mm in sentosa I think.
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    Quote Originally Posted by bargain hunter View Post
    The Coast #03-25 2820 sq ft

    Bought 6 Jan 2011 2128psf
    Sold 6 Dec 2013 1702psf

    gross loss including 3% stamp duty is already almost 1.4m before comissions. but just got to be thankful that bought date is before 13 jan 2011, so no SSD.
    1.4m, one of the big losses I have heard so far...
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    i believe the smallest units in sentosa are some 2 bedders which are still above 1k sq ft.

    Quote Originally Posted by Ringo33 View Post
    No mm in sentosa I think.

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    Urban Suites #11-09 2045 sq ft

    Bought 28 Jan 2010 2689psf
    Sold 25 Nov 2013 2600psf

    lost 89psf only = $182k! + stamp duty = 160k + unknown comissions and holding it for almost 4 years construction period collecting no rental.

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    Quote Originally Posted by Ringo33 View Post
    No mm in sentosa I think.
    2 bedders? I remember smallest in sentosa is 2 bedder. but sentosa is small units dont do well. One shenton area any MM transacted at a lost? Coz I think small units still ok. Those large units are the 1 that taking the hit on transaction coz rental is hard to move large unit. and selling now also hard to move large unit due to TDSR and ABSD.
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  6. #1506
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    Quote Originally Posted by bargain hunter View Post
    Urban Suites #11-09 2045 sq ft

    Bought 28 Jan 2010 2689psf
    Sold 25 Nov 2013 2600psf

    lost 89psf only = $182k! + stamp duty = 160k + unknown comissions and holding it for almost 4 years construction period collecting no rental.
    looks like large units are taking a hit. maybe those with $$$ can catch some good buys on the large unit. but ABSD and TDSR is making large units un desirable. unless own stay and 1st property....
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    Any chances that people who sold such big units at big loss are "washing" money? Black become white...

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    Quote Originally Posted by leesg123 View Post
    Any chances that people who sold such big units at big loss are "washing" money? Black become white...
    ..............
    A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...

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    Quote Originally Posted by leesg123 View Post
    Any chances that people who sold such big units at big loss are "washing" money? Black become white...
    how they buy big units in the 1st place?

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    Quote Originally Posted by hopeful View Post
    how they buy big units in the 1st place?
    Buy using cash, which didnt go thru bank as bank will ask the source. Money give to developer or lawyer to handle whom wont question the source of money. But after the property sold, the money can now be deposited into bank... tada! 神不知,鬼不觉。。。
    Last edited by leesg123; 20-12-13 at 23:02.

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    Quote Originally Posted by leesg123 View Post
    Buy using cash, which didnt go thru bank as bank will ask the source. Money give to developer or lawyer to handle whom wont question the source of money. But after the property sold, the money can now be deposited into bank... tada! 神不知,鬼不觉。。。
    so anti-corruption/anti-money laundering investigators ask you where you get the money, u say it is from sale of property.
    then investigators ask you where you get the money to buy the property, what do you say?

  12. #1512
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    Quote Originally Posted by leesg123 View Post
    Any chances that people who sold such big units at big loss are "washing" money? Black become white...
    The best way to wash money in Singapore is to run them through the casino as you can do it in small batches without attracting any attention.

    I wont be surprise that many of these large property are sold in not so good condition and needs to be refitted.
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    Quote Originally Posted by hopeful View Post
    so anti-corruption/anti-money laundering investigators ask you where you get the money, u say it is from sale of property.
    then investigators ask you where you get the money to buy the property, what do you say?
    Well the thing is so far anyone of u kena asked about the money that banks in from property sale?

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    Quote Originally Posted by leesg123 View Post
    Well the thing is so far anyone of u kena asked about the money that banks in from property sale?
    so when investigators ask you where you get the money to buy the property, what do you say? i pay in cash.
    and where do you get the cash? money laundering.
    thank you for making our job easy. btw here's the key to condo J in Flora Road.

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    Quote Originally Posted by hopeful View Post
    so when investigators ask you where you get the money to buy the property, what do you say? i pay in cash.
    and where do you get the cash? money laundering.
    thank you for making our job easy. btw here's the key to condo J in Flora Road.
    i guess if want to launder money, they will do it thru some dua pek kong. go jail oso not the boss kena.
    Ong lai ah!

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    Quote Originally Posted by hopeful View Post
    so when investigators ask you where you get the money to buy the property, what do you say? i pay in cash.
    and where do you get the cash? money laundering.
    thank you for making our job easy. btw here's the key to condo J in Flora Road.
    Well I am just guessing lah

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    The Berth 1668 sq ft

    Bought 28 Sep 2007 1780psf
    Sold 13 Dec 2013 1630psf

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    Visioncrest 753 sq ft

    Bought 1 Aug 2008 2123psf
    Sold 10 Dec 2013 1964psf

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    Haven't I say before that Sentosa condos got no hope?
    Most of the loses in CCR are from Sentosa right?


    Quote Originally Posted by bargain hunter View Post
    The Berth 1668 sq ft

    Bought 28 Sep 2007 1780psf
    Sold 13 Dec 2013 1630psf

  20. #1520
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    This one hah, internal lawsuit between residential and commercial owners! Lawyers earn money, "VisionCrest" the estate as a whole, likely go down the slippery drain, estate maintenance will have problem due to disagreement and estate may be left to rot?..............................

    Quote Originally Posted by bargain hunter View Post
    Visioncrest 753 sq ft

    Bought 1 Aug 2008 2123psf
    Sold 10 Dec 2013 1964psf

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    Paterson Suites #12-01 1679 sq ft

    Bought 27 Jun 2007 2680psf
    Sold 26 Nov 2013 2150psf

    new historical low for the project.

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    plus the security screening for the istana facing units...

    Quote Originally Posted by teddybear View Post
    This one hah, internal lawsuit between residential and commercial owners! Lawyers earn money, "VisionCrest" the estate as a whole, likely go down the slippery drain, estate maintenance will have problem due to disagreement and estate may be left to rot?..............................

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    mostly yes but seems to be spreading.


    Quote Originally Posted by teddybear View Post
    Haven't I say before that Sentosa condos got no hope?
    Most of the loses in CCR are from Sentosa right?

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    didn't expect any from D11 but here's one:

    first loss for Trilight

    #28-08 2336 sq ft

    Bought 5 Nov 2009 1737psf
    Sold 13 Dec 2013 1712psf

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    Quote Originally Posted by bargain hunter View Post
    didn't expect any from D11 but here's one:

    first loss for Trilight

    #28-08 2336 sq ft

    Bought 5 Nov 2009 1737psf
    Sold 13 Dec 2013 1712psf
    mostly big quantum unit. if 1mil+ one surface, tink many pple balls will shrink..
    Ong lai ah!

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    Quote Originally Posted by bargain hunter View Post
    didn't expect any from D11 but here's one:

    first loss for Trilight

    #28-08 2336 sq ft

    Bought 5 Nov 2009 1737psf
    Sold 13 Dec 2013 1712psf

    very very very surprised to see this. this is a 4bd on the best stack, at the highest level just below the 3 level PH. 4mil is way out of current asking range.

    for this one I honestly think it could be something else.

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    personally, i feel its not. a lot of the seemingly large area as discussed in the trilight thread before, is not useable or "real" space. given the quantum game and a decreasing number of buyers who are willing to pay 4m, i think its possibly a real transaction.

    in D9, 10, 11 and of course 1 and 4, we can find these so-called "larger" 4 bedders of say 17xx to 23xx sq ft which have different configurations but quite similar useful areas/serving the same purpose. the asking prices probably range from 3.8x to 4.3xm but not many transactions.

    maybe 4m really is the market price of the premium unit. others may need to transact at under 4m to sell.


    Quote Originally Posted by amk View Post
    very very very surprised to see this. this is a 4bd on the best stack, at the highest level just below the 3 level PH. 4mil is way out of current asking range.

    for this one I honestly think it could be something else.

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    Quote Originally Posted by amk View Post
    very very very surprised to see this. this is a 4bd on the best stack, at the highest level just below the 3 level PH. 4mil is way out of current asking range.

    for this one I honestly think it could be something else.
    Agree with you. The no is also very good #28-08. The main issue is with the quantum but based on pfs, its 2009 pricing.

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    Quote Originally Posted by bargain hunter View Post
    personally, i feel its not. a lot of the seemingly large area as discussed in the trilight thread before, is not useable or "real" space. given the quantum game and a decreasing number of buyers who are willing to pay 4m, i think its possibly a real transaction.

    in D9, 10, 11 and of course 1 and 4, we can find these so-called "larger" 4 bedders of say 17xx to 23xx sq ft which have different configurations but quite similar useful areas/serving the same purpose. the asking prices probably range from 3.8x to 4.3xm but not many transactions.

    maybe 4m really is the market price of the premium unit. others may need to transact at under 4m to sell.
    For trilight, its the balcony that is the issue, the actual unit layout is alright. But for this size, it is usually for own stay. Western tenants generally like balconies.

    If one compares 2000sqfeet size in the area, Viva low floors are going for 2000pfs, PI 4 roomers are all in premium block should be around the pfs.

    So this 28 floor unit at 1700pfs looks below market rate. When Trilight was nearing TOP, their 4 roomers at the lowest floors were asking around 1750pfs.

    You may also be right that one should not just look at pfs, quantum is impt.
    Maybe for big unit 4m is the bar. On the opp scale, for MM in CCR, quantum may also be a more impt factor than pfs.

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    so far this year, i have seen a few good 4 bedder units transact at around +/- 4m and this was even before the July TDSR. that's why i feel this transaction is possibly real.

    Quote Originally Posted by Singleton View Post
    For trilight, its the balcony that is the issue, the actual unit layout is alright. But for this size, it is usually for own stay. Western tenants generally like balconies.

    If one compares 2000sqfeet size in the area, Viva low floors are going for 2000pfs, PI 4 roomers are all in premium block should be around the pfs.

    So this 28 floor unit at 1700pfs looks below market rate. When Trilight was nearing TOP, their 4 roomers at the lowest floors were asking around 1750pfs.

    You may also be right that one should not just look at pfs, quantum is impt.
    Maybe for big unit 4m is the bar. On the opp scale, for MM in CCR, quantum may also be a more impt factor than pfs.

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