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Thread: The Arte @ Thomson (D12, Freehold, CDL)

  1. #31
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    the best part is, i receive a sms saying people queueing up overnight for the launch of this project.... anyone was there?

    i not really interested in this project, hence din see the showflat yet

  2. #32
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    Quote Originally Posted by taggy
    the best part is, i receive a sms saying people queueing up overnight for the launch of this project.... anyone was there?

    i not really interested in this project, hence din see the showflat yet
    People queueing up for this project ?? Unbelieveable. Is it really such a good deal ?

  3. #33
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    Quote Originally Posted by DW
    People queueing up for this project ?? Unbelieveable. Is it really such a good deal ?
    Was told queue mainly agents (trying to simulate demand?), anybody can confirm this?

  4. #34
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    Is this project in District 12 instead? Main entrance is at Jln Raja Udang. Where is the Thomson part except for slip road to Thomson Rd? C'mon think buyers are silly not to realise?

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    I was there just couple of hours ago.

    What greeted me the moment i stepped in was a sea of MIB!! Holly cow, it was so intimidating as all look like hungry sharks ready to swallow me and my wife.

    At least 30 of them at the door entrance, and another 30 when u are inside looking at the showrooms. Today is the last day of the soft launch before full launch (see advert in papers etc) probably few weeks/mths later.

    Anyways, lowest price was $760psf but that's for only 1 unit which is a 1625sqft 3 br in low floor. Most are $850psf and high floor ones are $950psf or thereabouts.

    So chao chao 1 unit minimum $1,000,000!! DBS is there with IAS scheme. Int rate is 2.5%, 3%, 3%, then go up to 3.75% 4th yr onwards. Siong man!

    I don't think it sold well because many of the launched units still not taken. Looking at the price list, i think about 30% taken ba. Alot of space taken by the planters/balcony which is effectively not usable space.

    My worth...

  6. #36
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    Quote Originally Posted by valmo7
    Was told queue mainly agents (trying to simulate demand?), anybody can confirm this?
    The agent thought they can sell their queue no. In fact, only 30+ units sold on Friday.

  7. #37
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    Quote Originally Posted by isaaclim
    The agent thought they can sell their queue no. In fact, only 30+ units sold on Friday.
    hmm.. 30+ units in a day is quite encouraging..

  8. #38
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    Quote Originally Posted by mezz72sg
    I was there just couple of hours ago.

    What greeted me the moment i stepped in was a sea of MIB!! Holly cow, it was so intimidating as all look like hungry sharks ready to swallow me and my wife.

    At least 30 of them at the door entrance, and another 30 when u are inside looking at the showrooms. Today is the last day of the soft launch before full launch (see advert in papers etc) probably few weeks/mths later.

    Anyways, lowest price was $760psf but that's for only 1 unit which is a 1625sqft 3 br in low floor. Most are $850psf and high floor ones are $950psf or thereabouts.

    So chao chao 1 unit minimum $1,000,000!! DBS is there with IAS scheme. Int rate is 2.5%, 3%, 3%, then go up to 3.75% 4th yr onwards. Siong man!

    I don't think it sold well because many of the launched units still not taken. Looking at the price list, i think about 30% taken ba. Alot of space taken by the planters/balcony which is effectively not usable space.

    My worth...
    pfwah - 30% sold for this kind of cock project, not bad siah. really shows there's one born every day.

    but feels like there is still a little pent up demand. i haven't collected keys to my unit and some indo buyer offered me a 12% premium to what i paid. Not a lot, but not bad in this climate.

  9. #39
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    Quote Originally Posted by gfoo
    pfwah - 30% sold for this kind of cock project, not bad siah. really shows there's one born every day.

    but feels like there is still a little pent up demand. i haven't collected keys to my unit and some indo buyer offered me a 12% premium to what i paid. Not a lot, but not bad in this climate.
    You mean The Sail? Btw you exercise your option already?

  10. #40
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    Quote Originally Posted by Property_Owner
    You mean The Sail? Btw you exercise your option already?
    yup. done-ded. won't sell so soon lah, not after all that angst i've been through with the ongoing reno designs. here's a trick i learnt to ensure non-kotokability by ID:
    - photoshop floor plan taking out all mention of project's name
    - use maciam tender basis to 3-4 designers for quotes
    - dun even mention wheretf the unit is
    - sign quote with clause of excess charges not exceeding 10%, with materials specification and quality contract; get ID to commit to it
    - only after that do you bring the ID to the place etc etc for measurements etc.

    Even award-winning IDs with the best materials will quote you much much less than if they know that you bought a high end condo. i'm taking HDB or mass market condo reno prices here.

  11. #41
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    Why do these big & so-called reputable developers like to mislead consumers? Do they really think we were born yesterday? Balestier just says Balestier lah! What Arte @ Thomson? Or Pavilion 11 @ Novena? Both are clearly off Balestier Road and there they are trying to hoodwink us. The more they want to hide, the more suspicious we'll become. Anyway, Balestier so bad meh? Why every developer try so hard to hide this from us?

    Next time whenever you see a new project with @ in it, you better be careful. It's likely to be the same trick again.

  12. #42
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    http://www.businesstimes.com.sg/sub/...25574,00.html?

    Published March 27, 2009

    CDL sells 60 units in The Arte at Thomson


    CITY Developments Ltd (CDL) sold about 60 apartments at its 336-unit project The Arte at Thomson last weekend.


    The Arte at Thomson: The freehold project comprises two-, three- and four-bedroom apartments, as well as penthouses

    The developer said yesterday that the average selling price was $880 per sq foot (psf). It released 100 units during the 'private preview' and will release more this weekend.

    The freehold project comprises two-, three- and four-bedroom apartments, as well as penthouses. Most of the units sold last weekend were smaller two- and three-bedders.

    Unlike other recently launched projects, units at The Arte are large, which means buyers have to fork out more.

    For example, two-bedders are 1,055 sq ft and three-bedders range from 1,399 sq ft to 1,625 sq ft. Assuming $880 psf for a two-bedder, the price of the smallest unit would be $928,400.

    But according to CDL general manager Chia Ngiang Hong: 'The Arte offers superb value for a prime freehold property in the Thomson area. Buyers get a luxurious condo without paying a premium price.'

    CDL is offering an interest absorption scheme.

    Analysts expect more projects to be launched in coming weeks as developers try to capitalise on a recent surge in buying interest. They sold 1,323 new private homes last month - eleven times more than in January. Numbers are expected to be strong for March as well, on the back of sales at The Arte, and at UOL Group and Kheng Leong's Simei condominium Double Bay Residences, where more than 200 units were sold this month.

    Amid the buying surge, BT understands that Far East Organization is set to launch its mass market project Mi Casa. The 457-unit development near Choa Chu Kang MRT is expected to be popular with HDB upgraders in neighbouring estates.

    Separately, Tee International and Hup Soon Global said that they are teaming up with a Bangkok-based company for the Singapore launch of a freehold luxury condominium located in the Thai capital. The Surawong will be launched this weekend at the Grand Hyatt Hotel here.

  13. #43
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    http://www.straitstimes.com/Money/St...ry_355164.html

    March 27, 2009 Friday

    Home hunters pack showflats in Balestier

    By Joyce Teo


    SOME home hunters have been packing showflats in the Balestier area and buying units, even as the general property market remains weak.

    City Developments (CDL) said yesterday it has sold 'about 60 per cent' of the 100 units at The Arte@Thomson at an average price of $880 per sq ft since a hush-hush preview started last Friday.

    The Arte has 336 fairly large units in two 36-storey blocks in Jalan Datoh, off Balestier Road.

    The 60 or so units were transacted at $852,800 to $2.46 million, said a CDL spokesman.

    Most of those sold were two- and three-bedroom units. The two-bedroom units are 1,055sqft, while nearly half of the project comprises three-bedroom units ranging from 1,399 sq ft to 1,625sqft.

    CDL said it had extended the interest absorption scheme (IAS) to buyers during the preview at no extra cost, but could not yet say how many buyers had taken advantage of it.

    'Buyers are given some time to decide if they wish to take up the IAS,' said the spokesman.

    The scheme allows buyers to defer the bulk of the purchase price until completion on condition that they take up a loan at the point of sale.

    The CDL spokesman said the $880 per sq ft price was being offered for a limited number of units only. 'We will be reviewing the price and adjusting it upwards progressively,' he said.

    The encouraging sales at The Arte came amid a still-slow market as some other launches see relatively weak interest. Demand for high-end homes, in particular, remains poor.

    New home sales in February were lifted to a relatively high level, but that was largely due to the strong sales at three mass to mid-end projects. Many buyers went for small units as their absolute prices were low, and hence affordable.

    Just last week, Keppel Land deferred the construction of two yet-to-be-launched projects - Marina Bay Suites in Marina Bay and Madison Residences in Bukit Timah - because of the slumping market.

    In the Balestier area, the new showflats benefited from spillover crowds from the various launches, said Savills Residential director Phylicia Ang, who is marketing the 104-unit Domus in the area.

    Released for sale two weeks ago, Domus, in Irrawaddy Road, welcomed visitors who had initially attended The Arte preview.

    So far, 33 units - out of the 59 launched at Domus - have been sold at an average of $900 per sq ft, or from $480,000 to $1.2 million, said Ms Ang.

    The sales included 20 one-bedroom units of 474sqft.

    Novelty Group's I-Residences, a 70-unit project in Irrawaddy Road, is about 50 per cent sold since its private preview late last year.

    Nearby, on the former Ruby Plaza site, Soilbuild had a preview for The Mezzo, which offers a 6 per cent rental guarantee for two years. It did not comment on sales.

  14. #44
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    Total Rip Off. Super large balcony & planter space. Shame on CDL. Resort to this to squeeze more profit. Balestier at >$800psf? No way....

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    Quote Originally Posted by jc
    Total Rip Off. Super large balcony & planter space. Shame on CDL. Resort to this to squeeze more profit. Balestier at >$800psf? No way....
    Bro, don't like that leh. They already drop their price from 1.4k psf to less then 1k psf. They got that piece of land at high price. So, they have no much choice.

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    Quote Originally Posted by isaaclim
    Bro, don't like that leh. They already drop their price from 1.4k psf to less then 1k psf. They got that piece of land at high price. So, they have no much choice.
    Just too bad for developers who bought the land too high and if they can't sell all the units. Ask the GM and senior mgmt to stay there perhaps as part of remuneration, haha.

    If bought too high and market px is below purchase px, then right thing to do is to write down to fair value. Buyers are not stupid to pay for developer's mistakes. Of coz there will be some who are willing to be taken for a ride....but not me

  17. #47
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    i think and think and think, and finally decided balestier will not be the area for me.

    1) The roads were already so crowded before all these new developments came on line. The small lanes are worse.

    2) Balestier area if really so good, why do developers need to name it @thomson @novena etc? NONE named it @Balestier. Why huh? Because they themselves have no confidence in the name. As simple as that.

    Pt 1 is really the factor that i can't bring myself to accept, not at 850+psf. 600-650psf which was the prices in that area 4-5 yrs ago can consider.

  18. #48
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    http://www.businesstimes.com.sg/sub/...26100,00.html?

    Published March 31, 2009

    Far East sells 97 units of Mi Casa over past week

    By KALPANA RASHIWALA


    (SINGAPORE) Here's yet more evidence that there's still demand for attractively priced condos in the mass-market segment. Property tycoon Ng Teng Fong's Far East Organization has sold 97 units at its Mi Casa condo near Choa Chu Kang MRT Station since it began sales last week.


    Mi Casa: Located near Choa Chu Kang MRT Station, the 457-unit 99-year leasehold condo has an average price of $625 psf. Buyers who wish to opt for an interest absorption scheme will have to pay 3% more

    The 99-year leasehold condo has an average price of $625 per square foot. Buyers who wish to opt for an interest absorption scheme will have to pay 3 per cent more.

    The 457-unit condo is being developed on a plot along Choa Chu Kang Drive which is diagonally opposite Lot One mall.

    In a news release last night, Far East said Mi Casa is the first new private condo project in the Choa Chu Kang town centre in eight years and offers an 'attractive value proposition' to HDB upgraders and private home owners in the area.

    Upgraders accounted for 80 per cent of Mi Casa's buyers. A number of buyers also own landed homes in the area and bought units at Mi Casa for investment and for their children, according to Far East. Mi Casa also drew some foreign buyers (such as China nationals and Malaysians).

    Far East Organization unit Tian Hock Properties bought the Mi Casa site at a state tender in May last year for $116.01 million or $203 per square foot per plot ratio.

    Over at the Balestier Road area, City Developments is understood to have sold another 30 units between Friday and Sunday at The Arte at Thomson freehold condo.

    This brings total sales in the project to nearly 90 units. The 336-unit project, which will comprise two 36-storey blocks, is being offered at an average sellling price of about $880-890 psf.

    At Somerville Road, boutique developer HLH Group has sold eight of the total 25 units at its D'Almira condo since it began previews three weeks ago.

    The average price of the five-storey freehold apartment development is about $750 psf, says ERA divisional director Andrew Soh, who is marketing the project.

    HLH is not offering any interest absorption scheme; buyers will have to make normal progress payments on their units when they are billed by the developer, in accordance with the stage of construction.

    In the River Valley area, Fortune group sold another five units last week at The Mercury in Shanghai Road. The average price for the freehold project is '$1,200 psf plus', according to Fortune Development general manager Victor Soh.

    Interest absorption scheme is available to buyers in exchange for a 3 per cent premium. To date, 64 of the total 67 units in the project have been sold.

  19. #49
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    Just came back from the showroom.. not bad and wife loves it... but price too high...

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    Quote Originally Posted by kgchong
    Just came back from the showroom.. not bad and wife loves it... but price too high...

    I also just came back from the showflat. Agree that the price is too high, $8xx - 9xx psf for 3BR. Interesting to see the response.

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    Quote Originally Posted by vincenthse88
    I also just came back from the showflat. Agree that the price is too high, $8xx - 9xx psf for 3BR. Interesting to see the response.
    interestingly the agent said the FE plot will launch at 1100 psf... so will see what happen...

    he give me detail of the land bought by CDL at 400psf... then construction cost and all other is 400psf... what do you think?

    CDL has another 3 plots of land that they en bloc and will start construction not far away... so will be interesting to see what happen... funny thing is one of the plot right in the middle asking too high.. so CDL didn't buy it... so you will see a dwarf in the middle of the giant...

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    Quote Originally Posted by kgchong
    he give me detail of the land bought by CDL at 400psf... then construction cost and all other is 400psf... what do you think?
    I think construction cost $400psf is too high. IMO around $220-250 should be more reasonable? Anyone can shed light on this?

    Thanks

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    Anyone know if the prices during official launch is higher or lower than the preview and by how much?

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    I think 300-400psf construction cost is more likely. So profit margin of 100-200psf is decent for non prime projects.

    Quote Originally Posted by blueb
    I think construction cost $400psf is too high. IMO around $220-250 should be more reasonable? Anyone can shed light on this?

    Thanks

  25. #55
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    Guys, what do you expect? These are enbloc projects. They paid high so they must sell high.

    Only the owners of the previous projects enbloc are laughing all the way to the bank

  26. #56
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    Quote Originally Posted by kgchong
    interestingly the agent said the FE plot will launch at 1100 psf... so will see what happen...

    he give me detail of the land bought by CDL at 400psf... then construction cost and all other is 400psf... what do you think?

    CDL has another 3 plots of land that they en bloc and will start construction not far away... so will be interesting to see what happen... funny thing is one of the plot right in the middle asking too high.. so CDL didn't buy it... so you will see a dwarf in the middle of the giant...
    Is the plot in the middle the red and white building?

  27. #57
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    Aiya how come our fathers never buy more land in singapore last time...


    Quote Originally Posted by Geylang OKT
    Guys, what do you expect? These are enbloc projects. They paid high so they must sell high.

    Only the owners of the previous projects enbloc are laughing all the way to the bank

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    Quote Originally Posted by vincenthse88
    Is the plot in the middle the red and white building?
    Yes, that's the only remaining plot in that particular strip that does not belong to CDL currently. The red and white building's name is Tan Tong Meng Building, and is comprised of very big units. A relative of mine owns a unit there of around 3200+ sq ft. She picked it up at an auction more than 10 years ago at $500+k.

    In 2007, there were talks with CDL to sell the building enbloc, and each unit would get around $4M+. However, seems that a large number of units there are owned by a members of an extended family (presumably decendants of Tan Tong Meng). Guess some of the owners there were holding out for a higher sum, and missed the opportunity for a huge windfall.

    Sadly, CDL would not even come close to that price now of course, and has even put up the other developments that it bought there for rent, e.g. thomson mansion, corcorde, etc. A missed opportunity indeed...

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    Quote Originally Posted by vincenthse88
    Anyone know if the prices during official launch is higher or lower than the preview and by how much?
    i'm curious too....

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    Quote Originally Posted by BV
    Yes, that's the only remaining plot in that particular strip that does not belong to CDL currently. The red and white building's name is Tan Tong Meng Building, and is comprised of very big units. A relative of mine owns a unit there of around 3200+ sq ft. She picked it up at an auction more than 10 years ago at $500+k.

    In 2007, there were talks with CDL to sell the building enbloc, and each unit would get around $4M+. However, seems that a large number of units there are owned by a members of an extended family (presumably decendants of Tan Tong Meng). Guess some of the owners there were holding out for a higher sum, and missed the opportunity for a huge windfall.

    Sadly, CDL would not even come close to that price now of course, and has even put up the other developments that it bought there for rent, e.g. thomson mansion, corcorde, etc. A missed opportunity indeed...
    Just hazarding a guess, if that extended family are descendents of Tan Tong Meng, they would likely also be loaded with some cash or other valuable inheritance as well, and not in urgent need of money. I might go as far as to say they are probably comfortably-heeled individuals who have investment properties elsewhere, and placing a high value on the TTM building was probably their way of showing their familial sentiment.

    It is totally none of my business, but I bet they are not crying as hard as the Horizon Tower owners.

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