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Thread: Mixed commercial and residential 99-year leasehold Yishun Ave 4

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    Default Mixed commercial and residential 99-year leasehold Yishun Ave 4

    A land parcel for a mixed commercial and residential development at Yishun Avenue 4 fetched a top bid of S$185.09 million at the close of the tender on Tuesday (Jan 13), the Housing and Development Board (HDB) said.

    The 9,759.80 square metre, 99-year leasehold land parcel attracted five bids, with the highest bid coming from Northern Resi Pte Ltd and Northern Retail Pte Ltd.

    The award of the tender will be announced at a later date, after the bids have been evaluated, HDB said in a statement.

    Real estate services firm Colliers International described interest in the first Government land sale site of 2015 as "fairly lukewarm".

    It added that the top bid works out to around S$629 per square feet per plot ratio, which was largely within expectations given the subdued state of the residential market.

    The expected break-even price for the residential component is about S$950 to S$1,000 per sq ft.

    For the retail component, the overall expected achievable monthly gross rents may range from S$6.00 to S$12.00 per sq ft depending on the size of the space leased, the type of retail trade and the location of the various retail units

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    http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/Yishun%20Ave%204%20-%20Location%20Plan%20GLS/$file/location+plan_Yishun+Ave+4.pdf

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    Noexit showing immense interest in 4R?

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    There are many new condos in Yishun these few years. You have Estuary, Miltonia Residences, Sky Miltonia, Nine Residences, Symphony Suites, Northpark, and Ave 4 condo. Will there be oversupply of condos leading to depressed prices and low rental rates? Is it still a good place to invest?

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    Quote Originally Posted by First Knight View Post
    There are many new condos in Yishun these few years. You have Estuary, Miltonia Residences, Sky Miltonia, Nine Residences, Symphony Suites, Northpark, and Ave 4 condo. Will there be oversupply of condos leading to depressed prices and low rental rates? Is it still a good place to invest?
    First , u compare the prices of these condos to see if north park is overpriced. Then u see the rental market in tat area. Third, u see the unique of tis proj and see if it's worth, lastly ur investment purpose.... I would say commercial residential mrt project is good property if not overpriced....

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    Quote Originally Posted by First Knight View Post
    There are many new condos in Yishun these few years. You have Estuary, Miltonia Residences, Sky Miltonia, Nine Residences, Symphony Suites, Northpark, and Ave 4 condo. Will there be oversupply of condos leading to depressed prices and low rental rates? Is it still a good place to invest?
    Hi first knight.
    Just my take. If u look at the master plan for land use in yishun. Many good sites (those near mrt and north park) now are reserved. More development seem to be happening near the new BTOs along the new yishun ave 8/6 area where skies, ss, and the new ec are located. It seems that the more promising sites are developed or currently developing. Even if more pops up, I'm sure its not as promising as what's available now.

    Yishun and khatib area didn't have many condos to begin with. But with new developments, things are def changing. For the better I say.

    If u look at the trends now. Condos are given to sites where location is much accessible by public transport or near major expressways - or even gd landscape. Khatib court BTO hdb being the exception cos hdb was trying to market their 3gen flats.

    The next developing town would be sembawang with the new mrt station. Just look at the master plan there.

    Just my take again I say not an agent, just a resident of Yishun for the longest time.

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    Wendy, I agree there are potential Yishun and it will be a better place to live in. But I am just wondering if it is a good place for your investment dollar. You have an international school nearby and the seletar aerospace park but that is all, right? The areospace park is the selling point for most condos in seng kang and punggol (which are also a lot now). So is it easy to rent out? You have to fight with the new BTO flats in Yishun and Khatib.

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    Quote Originally Posted by henryhk View Post
    First , u compare the prices of these condos to see if north park is overpriced. Then u see the rental market in tat area. Third, u see the unique of tis proj and see if it's worth, lastly ur investment purpose.... I would say commercial residential mrt project is good property if not overpriced....
    The bidding price for the land by Fraser in Yishun is so high than second bidder. But who knows this may be the right fair price. What is a good price to go into Yishun condo market?

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    Quote Originally Posted by First Knight View Post
    The bidding price for the land by Fraser in Yishun is so high than second bidder. But who knows this may be the right fair price. What is a good price to go into Yishun condo market?
    I tink btw 1.2k and 1.3k psf is a good price for 3 in 1 project at yishun mrt project

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    Let me make a wild guess here. Pls correct me if I'm wrong. First knight is interested in getting a northpark unit but is being held at bay by the high prices and hence re-assessing the financial pros and cons now and thus join this forum to gather online feedback and hoping that it will be positive responses. Self-fulfilling prophecy?

    Besides the condos that were mentioned earlier in the yishun/Khatib area, there r also yishun emerald, yishun sapphire, 8 courtyards, 1 canberra, canberra residences, the nautica in the new canberra mrt area. And not forgetting 1 new EC near Canberra mrt and 2 new ECs near sembawang mrt. Last but not least, all the new HDB BTOs around these 4 mrt stations.

    Therefore, considering everything, IMHO...
    Buy for Own stay - ok
    Buy for rent out - will face immense challenges
    Buy for both own stay and rent out - ok but will still face immense challenges. But seems to be the most popular choice now given that the dual key trio units r all sold out. However need to re-assess carefully if this is group think herd mentality.
    Got holding power - sure. No problem.
    Living on the brink - better be safe, not sorry. Sibor is going up and fixed rate is not idling too, esp with the new govt bonds coming up.

    Btw, is first knight related in one way or another to Lancelot from this or other forums, such as hwz?

    Just my take again I say not an agent, just a resident of Yishun and sembawang for the longest time.
    Last edited by MrTan; 11-04-15 at 15:35.

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    Thank you, MrTan and Henry for your opinions. Yes, I am interested in Northpark. I hope to rent out first and maybe take it back to live in later on. No relation with the people/nicknames MrTan mentioned. If it is solely for investment purpose, there are many other choices such as investing in upcoming sg bonds and condos nearer the city area. At the crossroads to see where to park the money.

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    Quote Originally Posted by First Knight View Post
    Thank you, MrTan and Henry for your opinions. Yes, I am interested in Northpark. I hope to rent out first and maybe take it back to live in later on. No relation with the people/nicknames MrTan mentioned. If it is solely for investment purpose, there are many other choices such as investing in upcoming sg bonds and condos nearer the city area. At the crossroads to see where to park the money.
    Welcome, curious to know , do you need to pay 7% ABSD? Wat is holding back people is the 7% ABSD,

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    Quote Originally Posted by First Knight View Post
    Thank you, MrTan and Henry for your opinions. Yes, I am interested in Northpark. I hope to rent out first and maybe take it back to live in later on. No relation with the people/nicknames MrTan mentioned. If it is solely for investment purpose, there are many other choices such as investing in upcoming sg bonds and condos nearer the city area. At the crossroads to see where to park the money.
    No problemo. Have u considered reversing the plan, i.e. live in for a few yrs first and then rent/sell it out after that depending on the situation? Dun think can invest much in the upcoming sg bonds as suspect there is a cap to it cos it's too good to be true. IMHO it's more catered to the masses rather than the cash rich few. CCR and RCR is where u shld be looking at if u wan to park the money. And I wld suggest searching in the secondary mkt rather than in the primary mkt.

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    Quote Originally Posted by MrTan View Post
    Let me make a wild guess here. Pls correct me if I'm wrong. First knight is interested in getting a northpark unit but is being held at bay by the high prices and hence re-assessing the financial pros and cons now and thus join this forum to gather online feedback and hoping that it will be positive responses. Self-fulfilling prophecy?

    Besides the condos that were mentioned earlier in the yishun/Khatib area, there r also yishun emerald, yishun sapphire, 8 courtyards, 1 canberra, canberra residences, the nautica in the new canberra mrt area. And not forgetting 1 new EC near Canberra mrt and 2 new ECs near sembawang mrt. Last but not least, all the new HDB BTOs around these 4 mrt stations.

    Therefore, considering everything, IMHO...
    Buy for Own stay - ok
    Buy for rent out - will face immense challenges
    Buy for both own stay and rent out - ok but will still face immense challenges. But seems to be the most popular choice now given that the dual key trio units r all sold out. However need to re-assess carefully if this is group think herd mentality.
    Got holding power - sure. No problem.
    Living on the brink - better be safe, not sorry. Sibor is going up and fixed rate is not idling too, esp with the new govt bonds coming up.

    Btw, is first knight related in one way or another to Lancelot from this or other forums, such as hwz?

    Just my take again I say not an agent, just a resident of Yishun and sembawang for the longest time.
    Mr tan.. U very funny k.. Haha

    First knight everybody's situation is different.
    If u have the holding power, everything's gd just like what mr tan said.
    My friend has already bought northpark residences at a price much higher than the avg but she is one happy buyer.
    She sees value in what she buys and before she did, she mapped out her options. It will be great if u have the support of your family or better half both financially and in spirit if cos

    The bottom line is value.

    Yishun has more than just the international school and aerospace park.
    We have a hospital with a community hospital coming up.
    In the masterplan the area near ave 9 and yishun ring road is even planned for a new educational area. Maybe a new school?
    In my personal take, we have more what other developing towns don't at this point. It is after all a matured estate going through a facelift.

    A gd friend who currently lives at an old condo in yishun told me.
    Yishun is going to be so livable here. She won't move.
    I have to agree .
    Good luck on your final decision.

    Your long time yishun resident friend
    Again I might be biased but I've lived here a long time. Not a tourist Hee Hee.

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    Coming back to this Yishun Ave 4 condo, will it be a good buy? It is very far from Khatib mrt. When will it be launched?

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    Quote Originally Posted by First Knight View Post
    Coming back to this Yishun Ave 4 condo, will it be a good buy? It is very far from Khatib mrt. When will it be launched?
    Need more pricing and other details first before can comment good buy or not. Same dist as 9R from yishun mrt. Estimated 2H or Q4.

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