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

[stalingrad]

Your Crapbelle you ask for $5k per month also sure no tenant...

Haha, funny you said that. $5k per month is exactly what we got from that Japanese expat.

By the way, Carabelle has become a Japanese enclave. So many Japanese live there now.

[teddybear]

Up to you to say, you think we believe your words? Japanese enclave? Ha ha ha!

Haha, funny you said that. $5k per month is exactly what we got from that Japanese expat.

By the way, Carabelle has become a Japanese enclave. So many Japanese live there now.

[Ringo33]

Up to you to say, you think we believe your words? Japanese enclave? Ha ha ha!

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.

[stalingrad]

Up to you to say, you think we believe your words? Japanese enclave? Ha ha ha!

You think I care you believe me or not? haha, don't overrate yourself.

[teddybear]

You think I amateur is it? $5k pm - What's the catch? Fully furnished with Free utility bills included, broadband subscriptions included, free quarterly air-con servicing included, may be weekly maid also included(?!) ....

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.

[Ringo33]

You think I amateur is it? $5k pm - What's the catch? Fully furnished with Free utility bills included, broadband subscriptions included, free quarterly air-con servicing included, may be weekly maid also included(?!) ....

Yes, you are an amateur who is like a frog in the well.

Sua ku...

missed the boat on OCR - Checked
missed the boat on MM - Checked

[stalingrad]

You think I amateur is it? $5k pm - What's the catch? Fully furnished with Free utility bills included, broadband subscriptions included, free quarterly air-con servicing included, may be weekly maid also included(?!) ....

it is partially furnished (old beds and old tables with chairs) with free air-con services. That is all. no utilities, no broadband, nor maid service.

[thomastansb]

You jealous of people staying in CCR is it?

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.

[thomastansb]

Then your friend is a stupid landlord. 1 year, you got to be kidding me. Either you are lying or your friend is really damn stupid.

When a person insists on being an ostrich and unwilling to accept the fact that CCR properties are losing value day by day, there is nothing you can do except to grab him by the ear and slap him senseless.

My friend owns Casabella and tried to find a renter but couldn't for over one year. These are real stories. We found a renter for our carabelle in three weeks. Also a real story.

[stalingrad]

Then your friend is a stupid landlord. 1 year, you got to be kidding me. Either you are lying or your friend is really damn stupid.

Of course my friend is stupid. We asked him not to buy into Casabella, but he wouldn't listen to us. Now he is stuck with this albatross around his neck.

I am not lying about my rental contract. It is posted on the URA website.

[minority]

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.

[bargain hunter]

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 different picture appear.

it appears that forummers here agree the transacted price is a good deal.
however, before that the deal is done, the viewers who visited that trilight unit think that price at 1712psf is not so good afterall. they can perhaps get it cheaper.

it is up to that "carrot head" foreigner to think that 1712psf is a good price. once the deal is caveated and become public knowledge, suddenly everybody think that 1712psf is a good deal

if not for that "stupid" foreigner, perhap the deal will be done sub 1700psf ?

my question:
1) if you were aware of the house on market, would you buy it?
2) if you would buy it at 1712psf, why didnt the other locals buy it higher than 1712psf at that time?

just a study on human behaviour and psychology.

perhaps lifeline can ask his friend what was the asking price at that time. any bidding war etc.
since it appears that 1712psf is a price too good to be true until so many theories appear.

[Ringo33]

You jealous of people staying in CCR is it?

You jealous of seeing people making money from ocr property while you nurse your wound on falling ccr price is it?

[amk]

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.

[玉格格]

..............

[walkthetiger]

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..

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.

[stalingrad]

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.

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.

[玉格格]

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.

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?

[amk]

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.

Sure, we live in CCR for snobbish reason only. U happy now ?

Hey it's new year. Why start the year with such sour and foul tone in a pty forum ? Be happy ok.

[amk]

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?

That depends on your view of future SG. In HK, dun talk about HK island, Kowloon area is now more than 3000 SGD psf , and 20-30mil HKD units are common.

[Ringo33]

Ccr is no big deal because not all ccr is prime. Want to play with big fish go buy central area instead.

[bargain hunter]

errm, that's the point, ABSD and TDSR.

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.

[lionhill]

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.

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".

[bargain hunter]

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.

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?

[minority]

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".

There are so many benefit living in CCR one man meat another's poison.

[teddybear]

It is always like that, don't need to look far, just look at late 2008 to early 2009, nobody want to buy, most people say will go lower so offering very very much lower price otherwise they will wait for durians to drop...

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.

[teddybear]

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!).

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.

[Ringo33]

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!).

I think you are living on the cannot make it side of the CCR lah.
In CCR, some apartment are selling at $4000psf liao. You still talking about $1700psf?

No wonder you so low class.

[Ringo33]

It is always like that, don't need to look far, just look at late 2008 to early 2009, nobody want to buy, most people say will go lower so offering very very much lower price otherwise they will wait for durians to drop...

Actually since 2008, the segment of the market that benefit most is the OCR, and MM, which I am pretty sure you are not vested.

Missed the boat right?

[teddybear]

Yes, I can sense how she feel... That kind of not enough money and want to act able cynical answers (like some forumers here)........................

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".