Who are these people? can I call them up and personally laugh at them and call them morons?Originally Posted by Unregistered
Who are these people? can I call them up and personally laugh at them and call them morons?
The way the units were being priced by the developer leaves no room for any upside in the short term, even for those who bought as `business associates' and VVIP. If one can hold, I say just keep it for own stay as its not a bad property actually plus its freehold and near to amenities.
However, if one were to buy to flip, let me wish you good luck. From the time The parc was `sold out' till now, I have seen the asking px drop from $1,400 psf to now $1000-1100psf. And most of the buyers probably pay $800-950 psf. In short, the buyers are not making much profits, that is if, and its a BIG IF, they manage to find a buyer at $1000-1100 psf.
As for me, I'm not biting coz as mentioned in one of my earlier posts, I value this place at $700 psf. I was offered 1 of the best 4-bedder very high floor at cost-px (that means after factoring in interest costs of the 5% the owner has placed) and it still comes to close to $900 psf but I rejected the offer. At $900 psf, I believe there will be many good buys, eg D15 where there are people offering close to $1.1k psf for seaview freehold units.
Don't buy from these speculators, let them burn in hell.
My advice is do not curse people. Much as I feel that these speculators have only themsleves to blame if they have to suffer loses, as the current sky-high px has prevented me from buying another property for investment, but i really do not wish that anybody has to commit sucide or burn in hell.
There are many investment opportunities out there, not just properties. So if I have missed the boat for properties, I will look at other investment opportunities if the price of properties is beyond my financial capability or risk appetite.
At the end of the day, there is no short-cut to success and money may not necessary bring happiness, neither will bitterness.
When we went to the showflats to take a look, we couldn't even get in. Only those "business associates" and "employees" were allowed in. I guess now the associates and employees regret that only they were given the privilege to buy, and burn in hell.
There is a lesson for both the developer and the privileged somewhere.
No, bitterness will bring you happiness. These speculators not only have themselves to blame, their attitude during the bubble era was nothing short of being arrogant. their reply to those that expressed concerns that speculation is not good for the economy and the moral character of the country is that "we have money to invest in the properties, and since you are too poor to invest, shut up."
Now, look who are suffering and who are gloating?
Mah's recent replies to Kwek Leng Beng's demands to reinstate deferred payment scheme are right on. Kwek's demands are nothing short of disgraceful. He was actually asking the government to encourage the citizens to speculate on properties and get themselves into trouble.
that's life
YOG village will be completed by Feb 2010
It will be 4-5 months ahead of schedule because of 'green lane' status
Lee U-Wen
The Business Times Weekend
Saturday, 10 May 08
The Youth Olympics Games (YOG) village will be ready by February 2010 - four to five months ahead of schedule, thanks to the government giving the project 'green lane' status.
This means that there will be plenty of time for fitting out and testing, well ahead of the Games opening ceremony on Aug 14, 2010.
Various government agencies have agreed to work together and give greater priority and resources to the project at the new 19 ha University Town campus of the National University of Singapore (NUS).
The agencies will speed up approval processes, anticipate problems, resolve issues with consultants and contractors, among other things.
The Building and Construction Authority (BCA), Urban Redevelopment Authority, National Environment Agency, NParks and the Land Transport Authority have been roped in so far.
NUS deputy president for administration Joseph Mullinix, who chairs the University Town development committee, said that the government's decision to step in has helped eliminate many barriers.
'The biggest one is time,' he said. 'This project is very large. You are talking about 25-storey buildings on a very compact site, and in a very short timeframe. This is a time of heavy construction activity in Singapore, so we needed to be sure we could attract the best contractors.'
The International Olympic Committee (IOC) docked several points off Singapore's score when it bid for the YOG last year, citing concerns over the island's ability to complete the Games village on time.
But doubts were cast aside when Singapore's YOG committee reassured the IOC in December last year that there would be no hiccups with construction or red tape.
Poh Yu Khing, director of the Sports Hub project, said: 'The IOC looks at construction of major projects around the world all the time. When they saw our University Village project and the time line, naturally they had question marks. But we explained how our construction industry stands out - it is much more certain and is always able to deliver on time.'
He cited factors such as Singapore's weather, which allows construction to be carried out most of the year, extended work hours and expanded foreign quotas the government can grant for strategic projects.
BCA, the coordinating agency for University Town, is playing the role of 'goalkeeper' to ensure that the technical needs of all the other agencies are complied with.
Hardly any changes were made to the original design of the University Town after it was confirmed that it would be the site of the YOG village.
The only significant addition, said Mr Mullinix, is a dining hall that will be set up to accommodate all 3,500 athletes and the officials during meal times. This is a temporary structure that will be taken down when the Games are over, he said.
Piling work has already begun at University Town, after a ground-breaking ceremony in February.
The campus, going up on land that was the Warren Golf Course, will cost between $500 million and $600 million to build. After YOG is over, the campus will be used by NUS students who will live, learn and socialise under the same roof as their professors.
A two-level bridge across the Ayer Rajah Expressway - the upper for cars and lower for pedestrians - will link the town to the main NUS campus at Kent Ridge.
Newbie
The YOG is quite a distance away from both The Parc and The Infiniti. Anyway the YOG is building 25-storey buildings which would yield a few thousand apartment units. That would dampen the demand for nearby housing units.
You mean we (normal people) can buy or rent a NUS hostel room?
After YOG is over, the campus will be used by NUS students who will live, learn and socialise under the same roof as their professors.
A two-level bridge across the Ayer Rajah Expressway - the upper for cars and lower for pedestrians - will link the town to the main NUS campus at Kent Ridge.
When 48hrs was all this takes for the project to soldout.
Understand from some insiders that units are even soldout before "soft" launch. Some agents are doing brisk biz doing sub-sales to unsuspecting buyers !! Not sure if there is any conflict of interest ...
Anyway, should be more distress sales coming from those agents still holding the units as TOP approaches..
Newbie
Hi I got an offer of $900 psf for a 1302 sf unit #2x-04. Worth buying? Pls advise.
If east esta/one amber FH is already 800 to 900 psf..
What do you think of Parc at 900 psf ?
Think western part of Spore is a much nicer place to live in ! East coast gonna get very congested down the road.. So, Parc is also very near the central.. Think still a good buy as compared to other projects nearer to the expressway.
Newbie
I agree. The Parc has a wonderful location and with the revampment in Clementi central along with the future Jurong hype ... it would be a good investment.
No doubt! I bought a unit there because it is just 7 minutes walked to the MRT station. The added revampment of the Clementi Central is a added bonus for me. I see good potential in this project.
Newbie
Hi Happy Owner, is it ok to share which unit you bought and wat is the psf you paid? As my husband and I are still pondering whether to grab the $900 psf unit of the Parc or the other unit at Botannia which is $810 psf ...
Hi Kon2, my unit is #1X-07 bought it last year for $800+psf from developer. My personal comment is those front facing unit (02,03,06,07,10,11,15,19,23) command a higher premium. We were considering to buy Botannia last year but chosen the Parc finally because of the following reasons:-
1. It is closer to the amenity.
2. It is a freehold.
3. It is the tallest project there.
There must be some reasons why the Parc is selling higher than the Botannia. Different people have different needs and opinions, the selection between both is your.
Newbie
Hi Happy Owner,
Thanks alot for your info & advise. We drive pass Botannia last weekend and found that it was not very near the main road. My kids will have a problem walking out and in from the bus stop. Thus, most probably we will buy the Parc instead. We were be neighbours if you are getting for own stay but heard that TOP is around May 2010.
Hi Kon2,
Yes, I saw the Project Details board indicated 31st May 2010. It is only 1 year and 8 months from now. I am looking forward to get my keys.
If you have decided to buy the Parc, my advise to you are to buy the unit toward the West Coast Road and away from AYE. Those units closer to the AYE can be noisy according to my friend who was previously staying in this site (Previously was West Peak).
are you sure is just 7 minute walk to MRT?
i'm interested, still can visit the showroom?
There is no more showroom.. they torn down last year to make way for the development.
There are plenty of subsale unit. Price 900 ++ and above which I think its reasonable . If " The Rochestor " and " One North " can command 1000 psf and above and they are both lease hold... The Parc is a bargain around 900 psf ++
For those vultures looking below 800 psf.. I think it is a total waste of time ...
waste of time??? Let's see, stock market going in free fall at the moment and I will not be surprised the ripple effect will be felt in the property prices...
Unless there is a massive burn out in the market... the mass market will still hold up as there are plenty of HDB upgraders with spare cash
Lehman Brothers collapsed in US. How will this affect The Parc?
Anyone can give your view?
What has Lehman Brothers got to do with us? Singapore have 5 Golden years ahead. Don't worry.
Well... Lehman Brother is the partner of Chip Eng Seng, developers for The Parc..
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