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Thread: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

  1. #1021
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    Quote Originally Posted by PropVestor View Post
    Sure hope to see more movement in terms of commercial tenants.

    I am also looking forward to the Beach Road site tender announcements next week. Curious how much land price has moved since 2011 when Duo site was bought. Also who paid more than $1.138 billion for it.

    Could M+S be holding back for higher rents pending this announcement? Duo Tower has yet to fill up as well. Are they really that choosy?

    2 cents,
    PropVestor
    Word on the market is that Duo is very sticky on the asking rent, whereas MOR is much more willing to negotiate.

    My take is, Duo is not in a rush to fill up. The office space takes up level 4 to 23, and Andaz Hyatt takes up level 25 to 39. The lettable floor area for office space is nowhere as much as MOR. Currently Mastercard and Abott are there. Guess they are taking time to fish for tenants who are able and willing to pay.

  2. #1022
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    Yes, thats what I have heard. DUO Tower is waiting for the right tenant and not in a hurry to lease them out. Andaz is already paying quite alot for their space.

    I spoke to the PM for Duo Residences yesterday, according to him ...

    For the past 8 weeks, about 400 over notification letters were issued by M+S till date but only 220+ (out of 660) owners collected their units. 17 units were moved in by tenants and owners. The rest of those collected are either negotiating lease, waiting for tenants or still awaiting defect rectification (majority).

    PropVestor

  3. #1023
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    Congrats to all DUO owners, key collection coincides with uptick in market.

  4. #1024
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    Quote Originally Posted by PropVestor View Post
    Sure hope to see more movement in terms of commercial tenants.

    I am also looking forward to the Beach Road site tender announcements next week. Curious how much land price has moved since 2011 when Duo site was bought. Also who paid more than $1.138 billion for it.

    Could M+S be holding back for higher rents pending this announcement? Duo Tower has yet to fill up as well. Are they really that choosy?

    2 cents,
    PropVestor
    Beach Road site tender out.

  5. #1025
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    Quote Originally Posted by Khng8 View Post
    Beach Road site tender out.
    GLL wins. Am happy. $1.6bil and they will usually commission a good designer to do it up nicely.

    http://www.businesstimes.com.sg/real...-s1706-psf-ppr

    Looking forward to it already. Bay wing owners facing this building.....watch out.

  6. #1026
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    5 resale so far. 3 unprofitable, 2 profitable. Stunning one is the 46-18 who lost around 1.2M due to 8% SSD.

    30-Mar-17 1 FRASER STREET #46-18 -937,000
    7-Mar-16 1 FRASER STREET #40-15 -204,750
    30-Oct-15 1 FRASER STREET #30-17 -186,810

    5-Jun-17 1 FRASER STREET #30-17 331,560
    14-Jul-16 1 FRASER STREET #16-08 97,000

  7. #1027
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    Quote Originally Posted by thomastansb View Post
    5 resale so far. 3 unprofitable, 2 profitable. Stunning one is the 46-18 who lost around 1.2M due to 8% SSD.

    30-Mar-17 1 FRASER STREET #46-18 -937,000
    7-Mar-16 1 FRASER STREET #40-15 -204,750
    30-Oct-15 1 FRASER STREET #30-17 -186,810

    5-Jun-17 1 FRASER STREET #30-17 331,560
    14-Jul-16 1 FRASER STREET #16-08 97,000
    Why sell now? I don't get it.

  8. #1028
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    Quote Originally Posted by PropVestor View Post
    Why sell now? I don't get it.
    Possibly an internal transfer to avoid ABSD while aiming for something else?

    If not it must be an emergency.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  9. #1029
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    If it's a fire sale, I get it. Other than that, Duo has yet to reach its price potential. With Beach Road site being bought at this psf price, current 3 to 4 bedders are at a 'discount'. No wonder the 42nd floor showroom is crowded today. Beach road site if sold at ~$2.7kpsf(2022) marketed at a premium like Wallich Residence or Martin Modern, there will be new records achieved for D7. Guoco land has plenty of holding power. That's why it's a bonus to have them as neighbors.

  10. #1030
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    Quote Originally Posted by teddybear View Post
    So facts has proven that this thomastansb is pretty much a liar? (like minority!)
    and the BULLSHITTER HAVE SPOKEN
    “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

  11. #1031
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    Martin Modern $1,239 psf PPR is now transacted at ~$2,200 psf (max $2,484)
    Beach Road site $1,706 psf PPR will be sold from ~$2,700 psf onwards (circa 2022 TOP)

    In Sept 2017, according to URA caveat lodged, a high floor (47th floor, 1927 sqft) 4 bedder unit at Duo is transacted at $2,189 psf.

    My point is, there is headroom growth for at least $500-$600 psf for Duo Residences in the next few years even we are at a long U shape recovery of 1-3% CCR growth past 2020. Those multiple units investors who bought at $1,600 psf back in 2013 will enjoy even more capital appreciation.

    So again, why sell now?

    2 cents,
    PropVestor

  12. #1032
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    Not everyone is in a good financial position. Some might be in severe debts or just lost the job without any savings. There are always such people around. That is why the price is always determined by the weakest owner.

  13. #1033
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    Hi,

    Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

    URA website specifies the following in regards to enclosing a balcony .
    S/N : 33 
    Installation of grilles/screens to approved balconies in all residential developments, provided that 
    1. the balconies had been approved as covered balconies, and , 
    2. the balconies comply with the requisite building setback.
    URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
    all times . Please ensure that necessary approval from the Management Corporation is obtained.
    S / N : 34 
    Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
    provided that:
    1. the balconies had been approved as covered balconies, and
    2. the balconies comply with the requisite building setback.
    In which case no approval is required to be taken from URA

    Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.

  14. #1034
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    Quote Originally Posted by bossa View Post
    Hi,

    Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

    URA website specifies the following in regards to enclosing a balcony .
    S/N : 33 
    Installation of grilles/screens to approved balconies in all residential developments, provided that 
    1. the balconies had been approved as covered balconies, and , 
    2. the balconies comply with the requisite building setback.
    URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
    all times . Please ensure that necessary approval from the Management Corporation is obtained.
    S / N : 34 
    Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
    provided that:
    1. the balconies had been approved as covered balconies, and
    2. the balconies comply with the requisite building setback.
    In which case no approval is required to be taken from URA

    Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.
    Do it while the MA is new.

    See no evil, do no evil.

  15. #1035
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    Quote Originally Posted by PropVestor View Post
    Martin Modern $1,239 psf PPR is now transacted at ~$2,200 psf (max $2,484)
    Beach Road site $1,706 psf PPR will be sold from ~$2,700 psf onwards (circa 2022 TOP)

    In Sept 2017, according to URA caveat lodged, a high floor (47th floor, 1927 sqft) 4 bedder unit at Duo is transacted at $2,189 psf.

    My point is, there is headroom growth for at least $500-$600 psf for Duo Residences in the next few years even we are at a long U shape recovery of 1-3% CCR growth past 2020. Those multiple units investors who bought at $1,600 psf back in 2013 will enjoy even more capital appreciation.

    So again, why sell now?

    2 cents,
    PropVestor
    You got go for lesson, the other don't.

    To investor they see value, to buyer they feel for herds.

    Agent can tell them it is good buy, guess what will they say to them.

  16. #1036
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    Quote Originally Posted by bossa View Post
    Hi,

    Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

    URA website specifies the following in regards to enclosing a balcony .
    S/N : 33 
    Installation of grilles/screens to approved balconies in all residential developments, provided that 
    1. the balconies had been approved as covered balconies, and , 
    2. the balconies comply with the requisite building setback.
    URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
    all times . Please ensure that necessary approval from the Management Corporation is obtained.
    S / N : 34 
    Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
    provided that:
    1. the balconies had been approved as covered balconies, and
    2. the balconies comply with the requisite building setback.
    In which case no approval is required to be taken from URA

    Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.
    If you read your Duo owner's guide instead of referring to the URA guidelines, there is specific dos and don'ts. That should come in useful in your decision.

  17. #1037
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    New homeowner here... just got my keys to Duo couple of weeks ago and current going through the defect reporting etc...
    Wondering whether there is anything particular I should take note of?
    Any advice is appreciated.
    Cheers

  18. #1038
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    Quote Originally Posted by Daydreamz View Post
    New homeowner here... just got my keys to Duo couple of weeks ago and current going through the defect reporting etc...
    Wondering whether there is anything particular I should take note of?
    Any advice is appreciated.
    Cheers
    Congrats to you. You must be a high floor owner to get your keys so late.

    I am actually very happy with the quality of the finishing and do not have any major issues with the interior. As this development took 4 years to build, you might want to look out for rubber seals and adjoining wall to false ceiling lines which will occur over time due to temperature change. My unit has no afternoon sun and I have heard wooden flooring of other units having issues due to this. Not so much the quality but due to the lack of curtains and heat protection.

    The only other is the folding balcony door which I had, that one has some issues with complete seal which I hope you do not encounter.

    My tenant has yet to complain so far as they have 30 days to complain of defects.

    Enjoy your new home/investment.

    PropVestor

  19. #1039
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    The owners handbook says "no modification work is allowed for the facade." Does the application of a (dark) solar film count as modification to the facade? Just thought I'd solicit advice here first before going to the management office.

  20. #1040
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    looks like the studio unit, 4xx sqft, not attractive for rent

  21. #1041
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    1 bedder reigned supreme followed closely by 2 bedders based on the 95 rental caveats lodged since August 2017. For those owners with 1 bedders, their unit will be in short demand soon. Studio unless high floor and good facing will be slightly tougher as the profile I observe are mostly Caucasians who prefer slightly bigger units but within 5K budget.

    I am getting 4.09% return for my one bedder, low floor. I am not complaining.

    https://goo.gl/aJuQSg

  22. #1042
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    Congrats.

  23. #1043
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    Quote Originally Posted by Arcachon View Post
    Congrats.
    Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

    Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

    How is it over there at Southbank?

    PropVestor

  24. #1044
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    Quote Originally Posted by PropVestor View Post
    Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

    Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

    How is it over there at Southbank?

    PropVestor
    just renew. 4000 for 958 sqft 2 bedroom

  25. #1045
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    Quote Originally Posted by Arcachon View Post
    just renew. 4000 for 958 sqft 2 bedroom
    Congrats too!

  26. #1046
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    Quote Originally Posted by PropVestor View Post
    Congrats too!
    I got my agent to do it 3 month before lease due, if he don't I take over.

  27. #1047
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    Quote Originally Posted by Tomutomi View Post
    looks like the studio unit, 4xx sqft, not attractive for rent
    Do airbnb.

  28. #1048
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    But Duo is not CCR right? It is RCR and the absolute rental is pretty decent for RCR.



    Quote Originally Posted by PropVestor View Post
    Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

    Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

    How is it over there at Southbank?

    PropVestor

  29. #1049
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    http://www.straitstimes.com/asia/se-...k-agreement-at

    Both PMs will be there on the 15th Jan Monday to officiate Duo and Marina One's opening. Can't picked a better weather to do so.

  30. #1050
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    254 units tenanted out according to URA caveats lodged between March 2015 to Feb 2018. Of which 124 are 1 bedders and 95 two bedders. 18 studios.

    Based on 95% sold out of 660 units or about 627 units transacted, only 40% are tenanted out (assuming not for own stay). If we add those for own stay, it should be about 50% tenanted since TOP a few months ago.

    My conclusion is that luxury development rental is still rather soft at this point in D7.

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