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Thread: Commonwealth Towers condo sees strong demand at launch

  1. #1
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    Default Commonwealth Towers condo sees strong demand at launch

    http://www.channelnewsasia.com/news/...medium=twitter


    SINGAPORE: The Commonwealth Towers condominium near the Queenstown MRT station saw strong demand at its launch on Thursday.

    Developers said that as at 8pm, 175 of the 400 units launched were sold, with at least another 100 buyers waiting in line.

    One property analyst said the lack of recent launches in the area may have driven up sales for the project.

    Many people took advantage of the May Day holiday to check out the latest property launch in the Queenstown area.

    Franky Lim, a potential buyer, said: "This is quite a good location. The psf (per square foot) is slightly over what we thought it would be. The quantum is also not small so we are still considering."

    The most popular are the two-bedroom units, which are going from S$965,000.

    More than 50 per cent of those units have since been sold.

    The launch saw 300 units on offer initially but developers decided to add another 100 in view of the strong demand.

    The development has a total of 845 units consisting of one- to four-bedroom units ranging from 441 to 1,302 square feet.

    Prices start from S$721,000 for the one-bedroom units to S$2.2 million for a four-bedroom unit.

    Analysts said the lack of recent launches in the area may have boosted sales for the Commonwealth Towers project.

    The last condominium in the area was launched some four years ago.

    Ku Swee Yong, CEO of Century 21 Singapore, said: "Today's showing is (also) evidence that there are a lot of investors who, firstly they qualify under the TDSR (Total Debt Servicing Ratio) and ABSD (Additional Buyer’s Stamp Duty) rules, and they are also happy to put their investment money to work in a product that is well-located as well as with good interior furnishings."

    Attractive prices are also important in drawing buyers, especially for two upcoming projects at Kim Tian Road and Prince Charles Crescent.

    Prices have not been released yet but analysts expect developers to take the cue from the market reaction for Commonwealth Towers.

    Channel NewsAsia understands that the Kim Tian Road site has the highest land cost at S$1,163 psf per plot ratio. This is followed by the Prince Charles Crescent plot at S$960 psf ppr.

    Another project which opened for preview on Thursday is the Waterfront @ Faber. The 199-unit development at Clementi saw some 400 visitors at its showflat.

    - CNA/ms

  2. #2
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    Saw this on twitter:

    Zechariah D. Prince ‏@AlvinAlston 6h

    Was at Commonwealth Towers launch just now. When ballot numbers were called out, this businessman BOUGHT 10 units of 2 bedroom. Over 15 mil.

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    More pictures at the start of the launch :

    Homelaunchsg ‏@homelaunchsg 11h

    Commonwealth Towers ballot starts now! #propertysg #commonwealthtowers #newhomelaunch pic.twitter.com/ZCHBZIr1Ur


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    more CM!

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    I do not think you can stop this group of people who is willing to pay with existing CMs. Location sells.
    Quote Originally Posted by leesg123 View Post
    more CM!

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    why should there be more CMs?

    prices have been lowered a bit and this is genuine and willing buying.

    Quote Originally Posted by leesg123 View Post
    more CM!

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    Quote Originally Posted by bargain hunter View Post
    why should there be more CMs?

    prices have been lowered a bit and this is genuine and willing buying.
    bro bargain.... i went sky habitat and true enough.... the heart is beating...

    Been so busy with my other investments (not too bad also lar)....

    But I feel the pulse beating now.... Agents are more chirpy now... so many "sold" stickers on the board... I think so many wait and wait until siong...

    Even my tenant at clover renewed (they did 2 years contract previously) only 1 year 6 months ago because they looking to buy.... So six months on, dont know if they will renew... I hope they dont... I paiseh, every year they spend > 50K on rental.... So they already paid > 100K to me liao...

    will be going more showroom for feel... hahahahaha

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    A 2 bedder on 24th floor at Sky Hab is just over a $1 mil. It entice people to buy.
    Quote Originally Posted by chestnut View Post
    bro bargain.... i went sky habitat and true enough.... the heart is beating...

    Been so busy with my other investments (not too bad also lar)....

    But I feel the pulse beating now.... Agents are more chirpy now... so many "sold" stickers on the board... I think so many wait and wait until siong...

    Even my tenant at clover renewed (they did 2 years contract previously) only 1 year 6 months ago because they looking to buy.... So six months on, dont know if they will renew... I hope they dont... I paiseh, every year they spend > 50K on rental.... So they already paid > 100K to me liao...

    will be going more showroom for feel... hahahahaha

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    Quote Originally Posted by DC33_2008 View Post
    A 2 bedder on 24th floor at Sky Hab is just over a $1 mil. It entice people to buy.
    bro it is 1+1.... all the 2 bedder bo liao....

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    But Balcony not small. Good facing still alright.
    Quote Originally Posted by chestnut View Post
    bro it is 1+1.... all the 2 bedder bo liao....

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    Is it the right time to buy now? Everyone talks about correction but will correction even takes place?

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    Quote Originally Posted by Thermofisher View Post
    Is it the right time to buy now? Everyone talks about correction but will correction even takes place?
    You are asking a funny question? Isn't there already a correction now? If it fits your bill, go for it. If you guess the price will fall, wait. No one can be 100% sure or to give you a credible answer right? Even the govt cant give u a definite ans.

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    Is this project cheaper than J Gateway?
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Quote Originally Posted by Ringo33 View Post
    Is this project cheaper than J Gateway?
    Based on the sold units reported from an agent, I think the pricing so far is a bit lower than JG condo. 2BR 14XX, 1BR 16XX. If I did not remember wrongly, JG condo sold 1BR for 17XX, 2BR probably about the same price.

    We don't have the overall final average psf price yet. My gut feel is it should not differ too significantly.
    The three laws of Kelonguni:

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

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    When is the estimated top for this project? It states anticipated handling over is dec 2017. So fast for an over 800 plus unit s?

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    Quote Originally Posted by Yuki View Post
    When is the estimated top for this project? It states anticipated handling over is dec 2017. So fast for an over 800 plus unit s?
    Legal TOP is December 2019.
    The three laws of Kelonguni:

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

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    go commonwealth towers lor?

    is there any other hot development at the moment?



    Quote Originally Posted by chestnut View Post
    bro bargain.... i went sky habitat and true enough.... the heart is beating...

    Been so busy with my other investments (not too bad also lar)....

    But I feel the pulse beating now.... Agents are more chirpy now... so many "sold" stickers on the board... I think so many wait and wait until siong...

    Even my tenant at clover renewed (they did 2 years contract previously) only 1 year 6 months ago because they looking to buy.... So six months on, dont know if they will renew... I hope they dont... I paiseh, every year they spend > 50K on rental.... So they already paid > 100K to me liao...

    will be going more showroom for feel... hahahahaha

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    is this 回光返照 or 曙光初现
    Ride at your own risk !!!

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    Quote Originally Posted by bargain hunter View Post
    go commonwealth towers lor?

    is there any other hot development at the moment?
    Sorrento almost sold out the last I checked....

    This 1 freehold leh.... Priced rite... People bite...

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    Last heard, panorama going to drop price liao...

    Really de ja vu.... Machiam like Caspian....

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    Kalpana Rashiwala ‏@KalpanaBT 35s

    210 of 400 units released at 845-unit Commonwealth Towers sold at closing time past midnight on 1st day of launch: Hong Leong Group.

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    Quote Originally Posted by bargain hunter View Post
    go commonwealth towers lor?

    is there any other hot development at the moment?
    Why buy new ? So small.
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
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    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

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    Economy is improving. Other investments are more complex and risky. Property buyers are coming back to pick the good discounted deals.

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    Just wondering out loud... why the hype for the results of this launch? Not even all the units launched in the "first phase" were taken up. It wasn't a sellout like JGateway. Is it because given the largely negative property market outlook, this is going to help push up the transaction volume in May optically, hence at least a piece of good news to talk about amidst all the gloom?

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    Quote Originally Posted by chestnut View Post
    Sorrento almost sold out the last I checked....

    This 1 freehold leh.... Priced rite... People bite...
    Some say that prices cannot be low, or the quality will be compromised left, right and centre.

    What do you think?
    The three laws of Kelonguni:

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

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    Quote Originally Posted by mintee View Post
    Just wondering out loud... why the hype for the results of this launch? Not even all the units launched in the "first phase" were taken up. It wasn't a sellout like JGateway. Is it because given the largely negative property market outlook, this is going to help push up the transaction volume in May optically, hence at least a piece of good news to talk about amidst all the gloom?
    Have to know that no all will think the same, full respect. Some may think creating positive news is the way to help the gloom, there are some audiences too, we should know who they are… No matter how gloomy is now; there should be buyer for home staying, these people are no investor, I understand their pain waiting to own a shelter, so these people should not wait for some silly years for price to down…. Get a shelter first.

    For investment, people should understand the truth of this business first, before jumping in blindly, the cycle in this business is very long, too many young investors have not seen the full cycle, they started during the period where the bull begins, buried all their hope in this business.
    A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...

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    Quote Originally Posted by Kelonguni View Post
    Some say that prices cannot be low, or the quality will be compromised left, right and centre.

    What do you think?
    Then how Sky Habitat does it now? Cut quality half way, where earlier buyers paid higher price. Make sense? But for smaller items... I think they will

    Cut price is the only way to save themselve, please factor in the money they made during the bull, lot of reserve to hold and wait....All are greed basically
    Last edited by walkthetiger; 03-05-14 at 09:04.
    A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...

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    Quote Originally Posted by Kelonguni View Post
    Some say that prices cannot be low, or the quality will be compromised left, right and centre.

    What do you think?
    For me, I am not concern on interior.... Why??? If ceramic tiles u don't like, change to marble or granite on your own. If tap, u don't like, change lor...

    The exterior is more important to me... Cannot suka suka change the common tile leh

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    Quote Originally Posted by chestnut View Post
    For me, I am not concern on interior.... Why??? If ceramic tiles u don't like, change to marble or granite on your own. If tap, u don't like, change lor...

    The exterior is more important to me... Cannot suka suka change the common tile leh
    That's expert and practical opinion. But some will still say you can't change ceiling height or sewage pipes?
    The three laws of Kelonguni:

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

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