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Thread: Lincoln Suites (D11, Freehold, Koh Brothers / Heeton / KSH / Lian Beng)

  1. #141

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    Quote Originally Posted by Reporter
    I think more like bought to hedge against upcoming price surge in District 9?

    The question now is "how do we hedge against Lincoln Suites?"
    Good point. The breakeven for orchard view is now about $2500psf. Hence 3000psf should be the selling price?

    When will Orchard View TOP?

  2. #142
    Join Date
    Apr 2008
    Posts
    2,549

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    Quote Originally Posted by andy
    Good point. The breakeven for orchard view is now about $2500psf. Hence 3000psf should be the selling price?

    When will Orchard View TOP?
    I think you meant $3,000 psf is the minimum selling price.

    I am not sure about the TOP date. Since they are fixing the frame now, it might be in 3-6 months time.

    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of August 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Orchard View ..... CCR ........ 3 ............................. 3 ................................ 3,181 ........... 3,155 ............. 3,057

  3. #143

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    Quote Originally Posted by Reporter
    I think you meant $3,000 psf is the minimum selling price.

    I am not sure about the TOP date. Since they are fixing the frame now, it might be in 3-6 months time.
    Sorry I got mixed up between Orchard View (formerly ANGULLIA View) and The Parisian, 21 Angullia Park.

    The Parisian with its new purchase price should break even around $2500psf. Selling price should be at least $3000psf, right?

    Why CBRE says it should be around $3500psf?

  4. #144
    Join Date
    Apr 2008
    Posts
    2,549

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    Quote Originally Posted by andy
    Sorry I got mixed up between Orchard View (formerly ANGULLIA View) and The Parisian, 21 Angullia Park.

    The Parisian with its new purchase price should break even around $2500psf. Selling price should be at least $3000psf, right?

    Why CBRE says it should be around $3500psf?
    CBRE is making a very conservative estimate with $3,500 psf. They could not imagine the final figure. It could be much more than $5,000 psf.

    Hong Kong developers have been organising fully-paid-for tours for tycoons from the mainland China. One of the itinerary of these tour is a lunch-shopping trip to a showroom, where these tycoons can grab all they want, a $8,888 psf item, a $13,000 psf item or the best-of-the-best-$20,000 psf item.

    With this purchase, China Sonangol will be adding a new destination for these tours - Singapore. These tycoons hate to be labelled as "cheapskate". The last thing China Sonangol want to do is to make them "lose face" when they are back in their homeland after a Singapore tour.

    Just ask youself these questions:
    1. Are China Sonangol buying this site to compete against the local big boys who have all the cost advantage?
    2. If China Sonangol can't beat the local big boys in terms of cost, why should they even bother to buy the site?
    3. Are China Sonangol willing to offend their most-valuable customers by offering them a condo that is not the most expensive in Singapore and costs just 25% of those in Hong Kong?

  5. #145

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    i think he meant '4' = for 1 to 2 year projects nearby. maybe referring to PI and just TOP Iridium.

    Quote Originally Posted by andy
    Is there a 4.5year project which has not TOP nearby? Iridium?

  6. #146
    Join Date
    Jun 2009
    Posts
    2,309

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    I going tomorrow ...

    Any other feedback for this project ?

    DKSG

  7. #147
    Join Date
    Apr 2008
    Posts
    1,286

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    Quote Originally Posted by Reporter
    CBRE is making a very conservative estimate with $3,500 psf. They could not imagine the final figure. It could be much more than $5,000 psf.

    Hong Kong developers have been organising fully-paid-for tours for tycoons from the mainland China. One of the itinerary of these tour is a lunch-shopping trip to a showroom, where these tycoons can grab all they want, a $8,888 psf item, a $13,000 psf item or the best-of-the-best-$20,000 psf item.

    With this purchase, China Sonangol will be adding a new destination for these tours - Singapore. These tycoons hate to be labelled as "cheapskate". The last thing China Sonangol want to do is to make them "lose face" when they are back in their homeland after a Singapore tour.

    Just ask youself these questions:
    1. Are China Sonangol buying this site to compete against the local big boys who have all the cost advantage?
    2. If China Sonangol can't beat the local big boys in terms of cost, why should they even bother to buy the site?
    3. Are China Sonangol willing to offend their most-valuable customers by offering them a condo that is not the most expensive in Singapore and costs just 25% of those in Hong Kong?
    Wow ... what will happen if China Sonangol sell-out their entire project to China tycoons at $8,888 psf? (Since China/ Hong Kong people like the number '8' so much).

    Let me create a fictitious news headline:

    The Singapore Times

    Oct 24, 2010

    Sonangol @ Angullia Park Sold Out at $8,888 psf

    China Sonangol, which last year bought The Parisian at 21 Angullia Park from OUE for $283 million, or a unit land price of $2,058 psf ppr, has sold out their new project before launch. The average selling price was $8,888 psf.

    The entire project has been sold-out to China mainland buyers who came to Singapore on an all-expenses-paid property-buying tour.

    Local buyers who submitted their blank cheques through their agents, hoping to buy a unit, have had their cheques returned.

    The project, sitting on 21 Angullia Park, is 46 storeys tall but the highest floor is numbered the 88th floor. This is in keeping with Hong Kong's tradition of numbering the floors with auspicious numbers.

    The address has also been changed from 21 Angullia Park to 88 Angullia Park because China buyers like the number "8" very much.

  8. #148

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    Let us know what you think. Hope I am not the only heavy critic of this project. Let us know the response too. If 10 of 39 sold last Thursday was to former Lincoln Lodge owners, as mentioned in one of the posts, then it is not so hot afterall.



    Quote Originally Posted by DKSG
    I going tomorrow ...

    Any other feedback for this project ?

    DKSG

  9. #149

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    Quote Originally Posted by andy
    Is there a 4.5year project which has not TOP nearby? Iridium?
    go for 1-2 yrs old project. not 4 1/2 yr project

  10. #150

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    Quote Originally Posted by DKSG
    I going tomorrow ...

    Any other feedback for this project ?

    DKSG
    The showflat is nothing to shout about. Finishing are above average.

    Overall about 40 over units sold I'm told.

    I cannot imagine renting the studio @ 474sqft. It is so small and yet much of the area is taken by balcony and planters.

    Many units of studio units have been sold and even lower floors hitting above $2000psf. One unit above 20th floor went for 2200psf (anyone can confim?)

    They told me studio units can command $4K rental which I refuse to believe. But maybe if lease period is for 3 to 6 months.

    The biggest plus about LS is the endless facilities sky bridge gym and sky terraces, clubs and wellness wing. It is more like a hotel with a 50m "almost indoor" pool.

    The downside is the small land area with no tennis courts. Regardless of the MM units my take is that this development is likely to do well.

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