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Thread: Seaside Residences at Siglap Road by FCL

  1. #21

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    among the government land sales sites, after seaside, artra and martin modern (may/june), there will be a hiatus and for H2, there's only a bukit batok and fernvale site (Singholdings/Wee Hur said launch closer to year END). there're not enough new launches to go around. pent-up demand is going to be very strong by year end.


  2. #22
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    Quote Originally Posted by bargain hunter View Post
    among the government land sales sites, after seaside, artra and martin modern (may/june), there will be a hiatus and for H2, there's only a bukit batok and fernvale site (Singholdings/Wee Hur said launch closer to year END). there're not enough new launches to go around. pent-up demand is going to be very strong by year end.
    Thats a good observation bargain hunter. ARTRA and Martin Modern are up next. Anyone else know what is upcoming for 1H or before June 2017?

    For 2H 2017, couple of re-launches will still drive market activity such as Phase IIs of Marina One, PPR, Seaside, ARTRA, Principal Garden and Martin Modern etc.

    Is this an inflection point where we will see stabilisation from over-supply or 'V' rebound long overdue post CMs since late 2013 (14 Quarters of engineered decline). I am not so sure of the strong V rebound, heres why despite low interest rates and CM tweaks.

    Here are some tick boxes to be checked off IMHO:
    1) Transaction volume is higher compared to previous quarters, both for new and resale to be sustainable for at least a 4-8 quarters.
    2) Developers are aggressively bidding and are willing to pay high prices for land bank
    3) Lower supply of land in the next 4 quarters or more
    4) PSF prices is on the increase even for resale, not just new launches
    5) Rental psf is moving up, same for tenancy volume. Applies for HDB too.
    6) En-bloc sales are successful. High number of bids from developers, it means they are really after land beyond GLS.
    7) More foreign developers are showing confidence of SG. Coming in as joint consortiums for larger bids, breaking new records for micro-location/District
    8) Local wealthy individuals are buying large amount of private properties in tune to hundreds of million in value
    9) Key infrastructure completion (drive market optimism to surrounding properties and prices)
    10) Completion of key mega infrastructures (DTL Stage III) or new towns refurbishment/developments.

    Can you think of any other factors?

    Point 5 and 6 is questionable to me. Even if transaction volumes are up, transacted psf broke record etc, rental to me is a key determinant of healthy, sustainable property recovery. I do not really think we are seeing that YET today. What we are seeing now is a coincidental successive launch of a few notable, rare projects which is driving market optimism. Please let me know what do you think?

    For en-bloc, lets watch and see if developers are willing to pay higher dollar than before.

    2 cents,
    PropVestor


  3. #23

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    i think the very glaring one is that there is not enough mass market new launches coming!

    there are still some projects with significant balance units to go but more in RCR (less affordable) than in OCR:

    CCR
    Marina One with 654
    Sophia Hills 287

    OCR:
    kingsford waterbay 550
    Parc Riviera 296
    Symphony Suites 254
    Clement Canopy 239
    Grandeur Park 236
    ALPS Resi 230

    RCR:
    Queens Peak 415
    Sims Urban Oasis 347
    The Crest 311
    Commonwealth Towers 306
    Gem Residences 260
    Principal Garden 234
    Park Place 212


  4. #24

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    correction: in total there are about 4,500 units each of balance unsold units in OCR (excluding EC) (4.6k+) and RCR (4.4k+) but logically, there should be more demand for more affordable OCR meaning that segment is undersupplied?

    also, as seen above, among the projects that have 200 units or more unsold, RCR has more of such projects and totalling more units.

    i would also not consider seaside residences as OCR mass market supply since the average psf is 1700psf and there could be some of such projects hidden in OCR which is not mass market.
    Last edited by bargain hunter; 24th April 2017 at 01:49 PM.


  5. #25
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    Quote Originally Posted by bargain hunter View Post
    i think the very glaring one is that there is not enough mass market new launches coming!

    there are still some projects with significant balance units to go but more in RCR (less affordable) than in OCR:

    CCR
    Marina One with 654
    Sophia Hills 287

    OCR:
    kingsford waterbay 550
    Parc Riviera 296
    Symphony Suites 254
    Clement Canopy 239
    Grandeur Park 236
    ALPS Resi 230

    RCR:
    Queens Peak 415
    Sims Urban Oasis 347
    The Crest 311
    Commonwealth Towers 306
    Gem Residences 260
    Principal Garden 234
    Park Place 212
    Great summary of unsold/new units. Thanks!


  6. #26
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    Seaside Residences is matching and perhaps exceeding the price level (since this is average PSF) last seen in the King of OCR Jurong Gateway. The way forward should be very exciting, for the vested that is.

    Quote Originally Posted by bargain hunter View Post
    correction: in total there are about 4,500 units each of balance unsold units in OCR (excluding EC) (4.6k+) and RCR (4.4k+) but logically, there should be more demand for more affordable OCR meaning that segment is undersupplied?

    also, as seen above, among the projects that have 200 units or more unsold, RCR has more of such projects and totalling more units.

    i would also not consider seaside residences as OCR mass market supply since the average psf is 1700psf and there could be some of such projects hidden in OCR which is not mass market.
    The three laws of Kelonguni:

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


  7. #27

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    Seaside sold almost half of the units on Day 1, average PSF $1,700+:

    http://theedgeproperty.com.sg/conten...launch-weekend


  8. #28

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    Over the weekend of April 22-23, Seaside Residences sold 392 units or 70% of 560 released. The average sale price was said to be $1,700 psf, which was above the original indicative price range of $1,550 to $1,650 psf.
    The 841-unit Seaside Residences is jointly developed by Frasers Centrepoint, Sekisui House and Keong Hong Holdings. “The strong sales results in this launch phase indicate that buyers value the rare and premium location of Seaside Residences, our thoughtful design and the building quality that Frasers Centrepoint is known for,” says Christopher Tang, CEO of Frasers Centrepoint Singapore.

    About 60% of the buyers live in the east, and 30% from prime District 15 itself, which is where Seaside Residences is located. The project is within walking distance of the upcoming Siglap MRT station and the East Coast Park.


  9. #29

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    Quote Originally Posted by Arcachon View Post


    Over the weekend of April 22-23, Seaside Residences sold 392 units or 70% of 560 released. The average sale price was said to be $1,700 psf, which was above the original indicative price range of $1,550 to $1,650 psf.
    The 841-unit Seaside Residences is jointly developed by Frasers Centrepoint, Sekisui House and Keong Hong Holdings. “The strong sales results in this launch phase indicate that buyers value the rare and premium location of Seaside Residences, our thoughtful design and the building quality that Frasers Centrepoint is known for,” says Christopher Tang, CEO of Frasers Centrepoint Singapore.

    About 60% of the buyers live in the east, and 30% from prime District 15 itself, which is where Seaside Residences is located. The project is within walking distance of the upcoming Siglap MRT station and the East Coast Park.
    Herdstinct is v strong in this project, I resist the stink and walk off.... wish tose who bought good luck 😉 I still prefer a quieter location and where anmeities are plenty, near city😉


  10. #30

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    Quote Originally Posted by henryhk View Post
    Herdstinct is v strong in this project, I resist the stink and walk off.... wish tose who bought good luck 😉 I still prefer a quieter location and where anmeities are plenty, near city😉
    Yeah the PSF is quite incredible.

    Any particular projects in mind?


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