Singapore got too many malls. If u need a mall travel to tampines.
Singapore got too many malls. If u need a mall travel to tampines.
Thanks for the excellent discussions.
I believe many prospective buyers will thank all of you for raising many considerations before buying such as the below, the shorter land lease, why the various baywindows, planters (which apparently are not counted in the GFA)
Thank you for giving us a more balanced view before committing...
I guess by the time the plot of land nearest to MRT is launched, the price will be different. The reason why CDL can offer low price is bec they bought the land cheap from the garment in the first place. So good luck to you if you wanna wait for the right place at the right price. Just don't look back with regrets few years on....
I also read abt your comments / discussions on how another project 2 bus stops away is a better buy than Coco Palms. I think it is a no-brainer to anyone buying a condo. Definitely the one nearest to MRT is more worthy and sells faster. It is not so much about how to get to MRT, it is the perceived value and status to the owner. I guess the owner will be more proud to say his condo is 5 mins walk to the MRT and the mall vs "Well, I need to take a bus and it is only 2 stops from the MRT."
Hi blue. .I think it should be perceived value n status to most owners. You see..my family and us ruled out this launch due to the following personal considerations
- livability , coco 2 bedder is still smaller than the nearby units
- bay windows n planter, I hate them coz they eat up my already small unit ..plus I m living in one n looking at them every day. .dun wan to make the same mistake
- shorter lease time. .by the time I took over the value of the land has dropped by ten years compared to the nearby units..and considering that I m no investor who will rent out or sell within 5 to 8 years perhaps..I will probably move out after maybe 20 to 25 years..by then harder for next buyer to get bank loan mah
- price, if I m going to put up with above flaws. .then I m only willing to consider it if its going like 600 k or slightly more to mitigate the risk of loss by the time i need to sell..but..this is an impossible price unless I go for ulu inflora?? But cdl launched at this price hence not cheap to me..
- too many units. .I have putup with so many people in mrt..hawker centre..I cant relax if the weekend is filled with so many people using the lagoon..if there are 944 units..n assuming 2 people per family..n that only 40 percent use the facilities with their visitors.. .That means over 500 people? ? I probably go mad
- others..like mrt noise ..dun wan to live with mrt noise or weekend noise from crowd.. .prefer peace..again if no noise lesser means I need to look further right?
And lastly..too long to Top. If ready only by Dec 2019..maybe those nearby parcels with smaller density will also complete by then.
- slightly further alternative. I m in luck coz there are nearby new albeit smaller launches..but not so far until not acceptable la
My previous comments are meant for prospective homeowners ..n not investors to factor the first 3 points n ask themselves. .is it really cheap? Is the price n wait worth it? Or go for dnest or those nearby which is slightly bigger n longer lease but still near the mrt? Or look further a few bus stops away?
Everyone looks out for different attributes to make a place call home. If your main criteria which is being near the mrt over rides the other factors which is not a main consideration...why not? I m sure there are other buys who think like you too.
Yes i m perhaps the stupid buyer that doesn't go by the golden near the mrt rule..but then with buyers like me who stayed out it means you n others have a higher chance to snag one doesnt it?
guess u made up your mind to purchase one ? Congrats on your purchase. .!
Last edited by Yuki; 06-05-14 at 19:51.
Good for you. You have placed a lot of though and consideration. However, just a gentle note that sometimes you will not be able to tick all the boxes at once.
The real value of Coco Palms, as is the other developments by CDL is the fact that they are near enough to the MRT at just the right price point. Any nearer, and you will see at least $1100 to $1300 as an average. This is generally the rule of thumb. So to me, the area presents a rare opportunity to be close enough to the MRT without the crazy price tag of next to MRT living.
But if you have the resources, and can afford something above $1200 psf, don't buy this project, because you will never be comfortable with the TPE noise/ huge population of residents/MRT noise/Pasir Ris "ulu"ness etc. This project, along with the others within the CDL enclave are not for choosy buyers.They are for buyers hunting for "value for money" and willing to sacrifice something to gain another.
Yes sad but true..have to give up one thing or another.
As for the psf price..judging by most people responses..the 2 bedders think its very possible to look at $1100 to $1200 as average i.e for mid level 2 bedders onwards to be priced at $850k?
M expecting the prices to be similar to The jewel at buangkok mrt.
For projects launched next to MRTs or upcoming confirmed MRTs location...the prices sold already factored in the premium for location etc. Then let us assume the following.
Fixed variables:
Buyer Y is looking at minimum stay horizon of 13 to 15 years.
After which he or she moves on.
Assumption - all the usual factors considered equal priority...and not the usual MRT rules all kinda rule..
Pasir ris west newly launched projects applies to only those 2 to 3 busstops away..since we are at this topic..
_____________________________________________________________
Price:
Further away therefore cheaper + Plus point
Size:
Bigger means more livable + Plus point
Amenities:
Elias Mall, Schools, OFS, West Plaza, neighborhood options, cheaper alternatives? Can still shop at White sands before reaching home + Plus point
Crowd
Significantly lesser, can make do with less crowd since Singapore reaching 7 million very soon + Plus point
Nature
Literally doorstep, can walk to sea and also play in condo pool without the crowd + Plus point
Peaceful
Who wouldn't want peace, smaller development means lesser people + Plus point
Transport
2-3 busstops away ..walk around 15 mins to 20 mins tops? - Negative point
Price Appreciation
I believe that most investors are looking at this and assume the MRT golden rule. Not much since not near MRT FOR NOW - Negative point
Lease
Since there is a mention of lease here...longer lease is better with shorter TOP + Plus point
Unique factor?
Near sea? Next to 2 schools (neighbor plus OSF?) + Plus point
Overall score: 8 out of 10
Coco palms..centrally launched
____________________________________________________
Price:
Near therefore more expensive - Negative point (if consider psf)
Size:
Small..wah! How come still got bay windows at this era?! - Negative point
Amenities:
White sands! So many other facilities like Library? Shopping? Not exactly cheaper alternatives? But overall + Plus point
Crowd
A lot! In the central place sure got crowd from the station plus the condo pool...crowded..think very hard to book facilities...- Negative point
Nature
Need to take 2 to 3 busstop away - Negative point
Peaceful
Ehmmm...don't think will get to enjoy the facilities due to intense competition..lots of crowd during the weekend, MRT and bus interchange noises for those who is facing outwards from the estate- Negative point
Transport
Just walk la! + Plus point
Price Appreciation
Got MRT means BUY BUY BUY!! + Plus point
Lease
Shorter lease with longer TOP...- Negative point
Unique factor?
Near big hawker + Plus point
Overall score: 4 out of 10
That is the score for now. Since cross island line is announced and plans to connect punggol to pasir ris will be in place by 2030, 16 or earlier years from now. Government plans to make MRT available within 10 mins of walk. Possible mrt stations here:
https://maps.google.com/maps/ms?ie=U...bed&dg=feature
Lets relook at the scoring again after 13 to 15 years.
The 2 negative points for Pasir ris west newly launched projects will become positive, better still should be underground MRT, since the saga with OSF means government highly likely will not touch the parks, nature etc. N the units are brought at lower price, the upside is much higher considering underground, cheaper entry price and more livable conditions?
However the -ve factors for Coco palms not change, except more crowded due to increased traffic?
But of course la, this is just pure speculation. And still rumors as pointed out by Yuki in other threads. These additional MRTs are still not announced yet. Sakli there is no station in between Pasir ris west and central , but looking at Tampines East , West I suspect highly unlikely right.
Anyway this is an interesting case study based on so many possibilities, factors, observations and the valid points put up by the alternative thinking buyers. Any more alternative thinking potential buyers here can share?
Please do not flame me coz I am also seriously considering coco palms . thanks Yuki for being brave enough to voice alternative views.
Still thinking crunching numbers here .
Last edited by di; 06-05-14 at 22:27.
I think one key consideration is missing. There has to be weights assigned to easy criteria. Each person will weigh them differently.To some people, walking distance to MRT means 20x weight since they don't have to wait for buses. To some, privacy means 30x weight because they can't tolerate noise. There is absolutely no way to make a meaningful comparison.
Even if we take away the privacy, etc, the high possibility that the MRT is going to be within walking distance for the Pasir ris west projects (by 16 years), and these are now selling at a lower price at a longer lease is still something worth considering. Plus, these projects come with the other +ve points which coco palms don't have.
But of course, that means suffering (if someone values walking distance of 5 mins a lot) for the next 16 years if they choose to choose the west projects.
But for others who don't mind a slighter further distance, a few bus stops away and or perhaps to walk 15 mins or 20 mins longer, they do not necessary mean worse off if we look at a longer time interval of approx 15 years...which is usually the time horizon for long time investors.
It seems that the coco palms upside is limited...n there is still potential upside for west launches...both are good in a certain sense...so hard to choose.
Plus, we should exercise daily...15 to 30 mins daily is actually good for our health....hahah as my friends always insisted.
Last edited by di; 07-05-14 at 00:01.
why all this talk about walking? i'm pretty sure there will be commercial shuttle bus services plying in all the CDL developments in the vicinity.
in this hot weather, i applaud all those who would like to sweat it out for a 10-15min walk
A few points I want to add on,
1. Most likely you do not have to wait 16 years for the cross island line stations to be announced. 2030 I think is the time phase 1's construction is completed.
2. Residents at Pasir Ris west, more specifically those 2 condos' owners have to walk by the main road to reach the mrt station, meaning they inhale exhaust air by cars and buses all the way from home to mrt. I don't think it's a healthly exercise if they do it every day.
The architectural plan was submitted and approved in 2008 when bay windows were a norm then so can't change.
If you notice there is no big balcony like the current new launches but only a foot wide planter at the living room to make up for the bay windows. That is the reason the master room can fit in a king size bed with sufficient walking space despite having the bay windows
Bingo peepbeep!
You got the exact analysis on the comparison between bay window with the combination of smaller planter to the current big balcony development. I believe that private condo owners would appreciate internal useable space on/above bay window than external big balcony space. And look at all the L-shape windows in the master bedroom that maximize views, light exposure and most importantly, ventilation within the unit.
What can go wrong to own a private property with resort-inspired facilities, within 5 minutes walk to MRT and Shopping Mall (Good distance as you will not hear MRT track noise from the development) yet at an reasonable pricing (At least in the current market) if one is seriously looking for own stay or investment!
It is less than 5 days before we close our registration for our VVIP booking on 17 May 2014. Interested Home Upgraders and Investors may register with us an our Coco Palms homepage below to be part of our exclusive clients for the priority booking.
Received the leaflet in my mailbox and the design of the units reek of hdb blocks.
Like you, I feel that the lesser 10+years when TOP makes this less worthwhile. The other putoff is the TOP in 2019. In the current market with so many units about to TOP, imagine the opportunity cost of rental for almost 5 years..that's almost 100k.
Plus 900+ units fighting for the use of facilities? Can't imagine here.
Last edited by invigorated; 09-05-14 at 15:29.
Think potential buyers have to buy with eyes wide open and not just look at the price, which really isn't much lower after factoring TOP date.
Buyers will be competing on facilities, parking, the morning queue out of car park and eventually rental, potential buyers. Esp when CDL still has thousands of units to clear..
I heard that VVIP discount is 25%. Does that means that after the VVIP bookings, remaining units will be sold as list price (ie 25% more than the offer price at 17th May)?