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Thread: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

  1. #31
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Registered
    Now this statement, I agree totally.
    This is a balance act.
    It is easy,
    all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.

  2. #32
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    It is easy,
    all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.
    Then you are killing the entrepreneural spirit.

  3. #33
    DBS Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    It is easy,
    all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.

    Bank exposure to investment property loans are quite low.

  4. #34
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    so, a reason cannot buy a house for his mom as a gesture of gratitude?

    That is unreasonable. You guys who miss the boat what the government to crack down so you can get in? Right. The government knows your motive. they will not be easily swayed.

  5. #35
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Then you are killing the entrepreneural spirit.
    That is right. The government doesn't want Singaporeans to be risk averse robots either. Putting too many rules and regulations in place will certainly drive most innovative and creative minds out of Singapore.

    The only thing LKY and the government can do is to curb excessive gambling in the property markets. they have already done that, by installing the anti-speculation measures in 1996.

  6. #36
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    so, a reason cannot buy a house for his mom as a gesture of gratitude?

    That is unreasonable. You guys who miss the boat what the government to crack down so you can get in? Right. The government knows your motive. they will not be easily swayed.
    I am not a speculators and I did buy property in Jan which I understand that someone is willing I can sell to make a 25% profit. But, I am buying for medium to long term investment. The rate the price spike up is not a good thing for any asset classes, esp for property. Since I am not a speculator, I certainly don't want to see a speculator-driven market and has to deal with the inevitable which is the burst of a bubble. If things are not improving in the next three months, I may have no choice, but force to sell my property to take profit first.

  7. #37
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    The showflat is at the end of the West Coast Walk, near the bus-stop/overhead bridge. It's not completed yet. Public launch is end July.

    Btw, I am not an agent, but heard the info from my friend and am interested in buying to stay, so I went down to check it out.

    I think the main advantages of this place are these:
    (a) Freedhold
    (b) Closest to Clementi MRT and amenities...I parked and walked to the MRT - close enough + lots of food places + even cinema complex coming soon
    (c) Access to development...don't know how to put this in words exactly, but having gone to see Inifiniti/Botannia, the road leading in feels congested/narrow; when Inifiniti/Botannia TOP, + cars from private houses & Monterrey, I think the morning traffic will be a killer

    My only concern is proximity to Clementi Stadium, but I think looking at the capacity of the stadium, there won't be a 'Kallang Roar' level of noise.

    All in all, I think I will seriously consider this provided its not too expensive. Hope it will be sensibly priced...

  8. #38
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    The showflat is at the end of the West Coast Walk, near the bus-stop/overhead bridge. It's not completed yet. Public launch is end July.

    Btw, I am not an agent, but heard the info from my friend and am interested in buying to stay, so I went down to check it out.

    I think the main advantages of this place are these:
    (a) Freedhold
    (b) Closest to Clementi MRT and amenities...I parked and walked to the MRT - close enough + lots of food places + even cinema complex coming soon
    (c) Access to development...don't know how to put this in words exactly, but having gone to see Inifiniti/Botannia, the road leading in feels congested/narrow; when Inifiniti/Botannia TOP, + cars from private houses & Monterrey, I think the morning traffic will be a killer

    My only concern is proximity to Clementi Stadium, but I think looking at the capacity of the stadium, there won't be a 'Kallang Roar' level of noise.

    All in all, I think I will seriously consider this provided its not too expensive. Hope it will be sensibly priced...
    Agree - sensible price - 600psf.

    Greed - sensible greed - 1200psf.

    Crazy buyer - crazy price - 1500psf.

  9. #39
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Think we will be looking at mid 800+ to 900psf

  10. #40
    Join Date
    Mar 2007
    Posts
    191

    Default Re: Chip Eng Seng, Lehman in JV for West Coast project

    Quote Originally Posted by Unregistered
    Why is the location much better than botannia. It is much closer to AYE than botannia, and much noisier. Granted it is closer to Clementi MRT, but can you walk there under a hot sun without getting a heat stroke?

    I am not a owner of botannia, but I would much rather buy a unit there at 730 psf than paying 800+ psf for a unit at the parc.
    Well, at least you have a choice.
    The PARC is also closer to the city, Holland V, Biopolis area....

    Also for Botannia, you will have to walk a little further to access the bus stops on both West Coast Highway and AYE.

    Also, this is FH development, everything else being the same, I think it will probably be preferred over 877 yrs leasehold.

    Well, let's see how the Parc does with ref to Botannia when the former is launched.

  11. #41
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    877 years leasehold is different from FH? You are being silly. 1000 years from now, there probably would be no need for land. There probably will be technology that allows you to live in space, or probably live in floating platforms circulating the earth.

    Or, to make an argument you can understand, you are already dead at that time, and you bones have turned in ashes.

  12. #42
    Home buyer Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Am seriously considering this 1 - quite like all the plus-points as mentioned.

    But what you guys think of the price between $800-900? Heard it cld be even higher at official launch!

  13. #43
    Join Date
    Mar 2007
    Posts
    191

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Home buyer
    Am seriously considering this 1 - quite like all the plus-points as mentioned.

    But what you guys think of the price between $800-900? Heard it cld be even higher at official launch!
    at 800psf, i think it's still ok. Not too much above.
    what size are you looking at? Managed to have a look at the floor plan. The 2 plus study only have 1 toilet :-( Otherwise seems pretty decent.

  14. #44
    Home Buyer Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by ht
    at 800psf, i think it's still ok. Not too much above.
    what size are you looking at? Managed to have a look at the floor plan. The 2 plus study only have 1 toilet :-( Otherwise seems pretty decent.
    Looking at the smaller units. Ya, strange the 2+1 seems to hv only 1 toilet - its psf is lower than 1+1 too.

    Feels tat it's a big risk if pricing exceeds 850psf.

  15. #45
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    This place is as close to the AYE as the Infiniti. Can it sell at $850 psf?

  16. #46
    Join Date
    Mar 2007
    Posts
    191

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    This place is as close to the AYE as the Infiniti. Can it sell at $850 psf?
    Well, you can't have everything.... but at least it is in close proximity to the buses plying along AYE, and allow you quicker access to clementi, when you choose to use foot.

    It is not the key factor, but one of the reasons I bought Infiniti was that the 2 access gates on the AYE side allow residents quick access to the bus-stop as well as short walk to Hong Leong Garden Shopping Centre.

    I believe 850psf for The PARC is possible, in fact 900psf is as far as it may go I think, provided nothing "drastic" happens to the market in the next 3-6 mths.

  17. #47
    cautious Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    News and warnings are ringing - both by property experts and by garment!

    Think b4 u move!

  18. #48
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Citibank, as BT reported today, doesn't see government intervening in the market, other than to release more land, which market participants already expected.

    Just my two cents.

  19. #49
    Join Date
    Mar 2007
    Posts
    377

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)


  20. #50
    Onlooker Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    I think the container port terminal just added new facilities and expanded its container ports in WC. Check the website. It's more likely for the authority to remove all the containers at Tg. Pagar (facing Sentosa Cove) and move them to Pasir Panjang and WC. WC is also very close to the industrial Jurong Island, so it makes alot of sense to park all the containers on WC. It is also possible that since the casino is located in Sentosa, there must be a red-light district somewhere and it can't be at Sentosa/Vivocity. The distance between CBD and Geylang is about the same distance between the Sentosa casino/Harbourfront business district and WC port terminal, so it makes sense to have a new red-light district in WC also, although it will be somewhat shielded by the WC Highway. It will likely be sprouted along the eastern-side of west coast park, near the port, somewhat behind the western-end of Pasir Panjang. On this, there is no need for the Govt to announce after NDP.
    Quote Originally Posted by Unregistered
    Your analysis is first-rate. If I may add, the red-light district in WC will be easily contained and it will gain popularity as it is hidden near the container port and near the sea. This will free the very buildable Geylang area from prostitution and turn it into a world-class residential area at the fringe of the CBD. In the new WC red-light district which will grow by itself, it is quite ideal because there is no HDB town nearby and is very easily accessible by the gamblers and holiday-makers at Sentosa IR. S'pore like almost any city needs a red-light district and if Geylang must be moved, it must be moved into the W.C. right. So the WC is perfect in everyway.
    Quote Originally Posted by Unregistered
    My guess is it will be located near the car-mart and the pasir panjang food centre. It will not cause any disturbance to the residences there as there is a buffer and WC has many university students, so it will not rally affect the reputation. So in future, people who needs a shot will not say "let's go geylang", but "I need to visit the W.C."

    How to prevent the undergraduates guys and girls from patronising or working there? There must be proper checks in place.

  21. #51
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Developer had put up adverts in today's ST classified, thought all units sold out already????

  22. #52
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Developer had put up adverts in today's ST classified, thought all units sold out already????
    Are you sure! than they have to put up their signboard again fof sales....BTW how much are they asking?

  23. #53
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Are you sure! than they have to put up their signboard again fof sales....BTW how much are they asking?
    They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

    I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.

  24. #54
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

    I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.
    Forget about next down turn, folk! Today ppty price is the future bottom level already. Forget the past and face tmrw with our new global city, Singapore.

    We are now at the bottom of the new ppty cycle. The game is just to begin.

  25. #55
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Forget about next down turn, folk! Today ppty price is the future bottom level already. Forget the past and face tmrw with our new global city, Singapore.

    We are now at the bottom of the new ppty cycle. The game is just to begin.
    My advice is just look at New York and London, even these cities have down-turns lower than their previous peak. So what do u think makes sg so special that this is the bottom? Trying very hard to talk up the mkt rite? Haha.

  26. #56
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

    I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.
    Stop daydreaming!
    Recent transaction data from from URA:

    Project Name
    Street Name
    Type
    Price
    ($)
    Land/
    Floor Area (Sqft)
    Unit Price ($psf)
    Date of Option Exercised / Sales Agreement Signed

    THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
    THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08

  27. #57
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Stop daydreaming!
    Recent transaction data from from URA:

    Project Name
    Street Name
    Type
    Price
    ($)
    Land/
    Floor Area (Sqft)
    Unit Price ($psf)
    Date of Option Exercised / Sales Agreement Signed

    THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
    THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08
    Aiyah, dun know how many times this has to be reminded, caveat lodged at URA always shown after 2 to 3 mths one, those transacted prices should already be history and doesn't really reflect the sentiments currently, dun bluff yourself lah

  28. #58
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    Stop daydreaming!
    Recent transaction data from from URA:

    Project Name
    Street Name
    Type
    Price
    ($)
    Land/
    Floor Area (Sqft)
    Unit Price ($psf)
    Date of Option Exercised / Sales Agreement Signed

    THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
    THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08
    I dun believe in historical data, I only believe in current and future forecast.

    Current:- Specuvestors still able to wait awhile, but not much longer as DPS projects due for next payment in the next few months. There are many who can't hold will have to either return the units (like the earlier returned Parc units) or sell at a lower margin. Thus px will tread lower.

    Current px already took into consideration and more, all the future developments like IR, F1, 5.5 mio population story which has yet to materalize.

    Future:- As it is now, the supply shortage situation is already less of a crunch now. Just ask your agents or those of you who are agents, there are ample units both newly TOPed and old condos available for rental. The only problem is owners are asking sky-high rents which tenents are not really bitting. Give it 6-9 mths more and these owners either have to

    1) Split their family and stay in their investment property and current home
    2) Let it remain vacant and use as weekend holiday home
    3) Lower the rent or lower the selling price

    My view is (3)

    And in the next couple of yrs, there will be a supply glut, despite the slower launches from developers. As such, there will be more pressure to reduce rents/ prices when the current tenancy expires.

    Thus now is the beginning where property px is going to slide down. Mark my words, you have been warned.

  29. #59
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    Quote Originally Posted by Unregistered
    I dun believe in historical data, I only believe in current and future forecast.

    Current:- Specuvestors still able to wait awhile, but not much longer as DPS projects due for next payment in the next few months. There are many who can't hold will have to either return the units (like the earlier returned Parc units) or sell at a lower margin. Thus px will tread lower.

    Current px already took into consideration and more, all the future developments like IR, F1, 5.5 mio population story which has yet to materalize.

    Future:- As it is now, the supply shortage situation is already less of a crunch now. Just ask your agents or those of you who are agents, there are ample units both newly TOPed and old condos available for rental. The only problem is owners are asking sky-high rents which tenents are not really bitting. Give it 6-9 mths more and these owners either have to

    1) Split their family and stay in their investment property and current home
    2) Let it remain vacant and use as weekend holiday home
    3) Lower the rent or lower the selling price

    My view is (3)

    And in the next couple of yrs, there will be a supply glut, despite the slower launches from developers. As such, there will be more pressure to reduce rents/ prices when the current tenancy expires.

    Thus now is the beginning where property px is going to slide down. Mark my words, you have been warned.
    u r absolutely right!!

    April 9, 2008

    Prices of high-end condos starting to fall as sales dwindle

    Downward trend may continue for next few quarters, experts predict

    By Fiona Chan, Property Reporter


    HOME prices are starting to fall, as several high-end properties begin to feel the squeeze of retreating buyers.

    Sales of Singapore's most expensive condominiums - all the rage last year - have dwindled to just a trickle this year.

    And with plunging sales, prices have also started to dip, although official figures have yet to reflect this trend.

    Early signs of the slide lie in the handful of caveats filed involving many luxury projects in the first quarter. These showed prices fell from the previous quarter, in some cases by up to 20 per cent.

    In Districts 9 to 11, Singapore's creme de la creme of residential locations covering Orchard, Holland and Bukit Timah, average prices have fallen by about 30 per cent since the beginning of the year, according to caveats.

    They dropped to an average of $1,564 per sq ft (psf) between January and March from $2,023 psf in the preceding three months.

    In luxury island enclave Sentosa Cove, almost all condos posted drops in average psf prices, ranging from 2 per cent for the Marina Collection to 23 per cent for The Azure.

    Property experts say this could be because luxury home buyers are now selecting only the most competitively priced properties.

    'Market activity is very slow now, so any transactions that do take place are likely to be from people who have found attractive buys,' said Mrs Ong Choon Fah, the executive director at property firm DTZ Debenham Tie Leung.

    She said high-end properties in the traditional prime districts were more dependent on investor buying, so they could be more affected by the current global credit crunch and weaker sentiment.

    'A lot of people who bought luxury homes are also 'specuvestors', so they may be happy making just a small profit and selling quickly,' Mrs Ong explained.

    The Government estimated last week that private home prices continued to climb in the first three months of the year, albeit at a slower pace. They rose 4.2 per cent, down from 6.8 per cent in the previous three months.

    In the priciest segment, the core central region, the price gain dropped to 4.4 per cent from 7.5 per cent in the previous quarter. This region covers Districts 9 to 11, the Marina Bay area and Sentosa.

    Anecdotal evidence from property insiders and caveats lodged, however, showed that prices at many projects fell rather than rose this year. At Scotts Square in Scotts Road, only two units have been sold so far this year - at an average price of $3,700 psf, down from $4,000 psf for 42 units in last year's fourth quarter.

    Similarly, at The Oceanfront @ Sentosa Cove, the most recent deals were in February, where three units were sold at $1,720 to $1,751 psf. Just six months before that, 15 units were sold at an average price of $2,480 psf.

    Other high-profile, pricey condos, such as the Marina Bay Residences and The Marq on Paterson Hill, have yet to see a single caveat lodged this year.

    But the story is not all bad. The Orchard Residences, which holds the title of Singapore's most expensive condo, has sold only one unit this year - but at $4,700 psf, higher than most of its other sales.

    Other older condos in areas such as Cavenagh or Balmoral may also be trading at higher prices from their previously low base, pushing up the overall prices for the whole district, suggested Mr Ku Swee Yong, director of marketing and business development at Savills Singapore.

    But he said the price index for high-end homes may be under pressure in the next two quarters, now that 'everyone wants a bargain'.

    'You only need developers to start giving discounts or people starting to buy lower-

    floor units instead of penthouses. That will push the index down and put pressure on prices.'

    [email protected]

  30. #60
    Unregistered Guest

    Default Re: The Parc (D5, Freehold, Chip Eng Seng & Lehman Brothers)

    I heard from agent a few bought several units of Parc.Looking for highrise to jump now as their units TOP is long way in 2011.

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