A lot of people are switching to buying property now. It is not worth to rent.
This will add on to the ever increasing demand from foreigners, en-bloc sales, stock-market killers, upgraders, etc.
with stock market and luxury property market at record level, would we see mass-market property at record level too?
Originally Posted by Ang Moh
If all the en-blocs go thru... e.g. Farrer Court, Ridgewood, Pandan Valley, and so on.... at least 2,000 units will be removed from the market and these people will need to find alternative accom.
If you get to pocket $1.5-2mil from en-bloc... you're most likely to look for something around $1mil for 3/4-bed... so that you can pocket the diff.
In this current market, what to buy at this price? Everything along BT is over $1mil...Forget abt Holland/Farrer area. It's no brainer that RT still has a lot more room to rise.
Mass market properties will rise at different rates at different locations. With prices relatively affordable at Upper BT, we will certainly see this place move up very quickly from here.
Anyone was promised double-gazed windows and/or tinted glass for the rail-way facing units?
there's a aerial picture in ST today that shows the progress of RT, go see!! seemed that the pricing for most BT developments in newspaper are all outdated!
Had a shock of the lower-than-expected psf prices stated in the ST today. However there must be more to it than to place highest last transacted prices on the national papers. Perhaps the prices posted is the "reasonable" prices to pay excluding from the speculation in the property hike today?
the numbers reported are for Q2 2007, mostly the remaining developer units, doesn't really reflect the resale ones, anyway its gd advertising for the development, hopefully it would turn the attention towards the RT area, which is nature lovers' paradise!!!!
You bet! Today I got calls non stop asking abt properties in BT/Upper BT area. Everyone is looking for new investment ideas. If you wanna sell, now's the time to ride on the new interest in this area.
FYI, the price in the papers is the average pricing of transacted units. In the past months, most of the units transacted are the rail facing ones. This explains the low average psf. The better units are already transacting above S$700psf
Your argument makes good sense
its not true that the recent transacted units for 2Q are rail facing units, check out this link.
http://www.ura.gov.sg/real_estate/main.jsp
historically, there is a tendency for prices of different facing condo units to converge after TOP. also during en bloc exercises, nobody cares whether you go a pool unit or greenery units, it depends on yr entitlement to the strata land ,btw can anyone share for 2, 2+1, 3, 3+1 what's the entitlement to the strata land?
Re: The Raintree (D21, 99 years leasehold, Frasers Centrepoint)
Why should They sell now?? The price just started to go up.
Bukit Timah area esspecially near the BT plaza, mc donalds and cold storage is targeted by the cash rich enbloc owners because it is still cheap.
I see there are still lots of rooms for increase.
Am not selling either
You're probably an owner of a rail facing unit. Unfortunately, prices won't converge after TOP coz after TOP, your unit will still continue to face the rail track. Unless they move the track elsewhere, then it's another story. I know for a fact that units facing the track are asking over $580psf and still no interested buyers. So far, buyers in re-sale market are only interested in non-rail facing units. That's a fact!
Pls don't talk abt en-bloc when this property is not even TOP yet... duh!
Why not? Enbloc today takes a year and a half to move out... so its possible to look for a non-yet-TOP property for enloc cases
you obviously do not know much about the rules governing en-bloc sales. pls go read it up before you make a fool of yourself :P
I only have one conclusion as to why this thread is so active compared to others -- Most buyers of RT are passionate about the development and are nature lovers whom just can't wait to move in. Compared to other projects, this one certainly has lesser flippers! Correct me if I am wrong.....
What's the point? No flippers means no investor interest and price won't go up too much.
Then you're wrong. No flippers bought from developer. Doesn't mean no flippers looking to buy in the 2dary market. First buyers whom hv the intention to live in RT will need a "good" offer to tempt them to sell.
You only know what you know and that don't mean you know all the deals going on. I have a 2 rm unit facing track and I already have offer at 593psf and that was 1 mth plus ago.
Since Govt announced a large number of plots will be made available for mass condo prohjects, starting from the third quarter onwards two weeks ago, buyers for mass condo projects certainly will turn cautious. You should not assume someone is willing to pay 593 psf now for your unit. If your unit can sell for 593 psf or higher now, it is really good news.
would appreciate it if forum contributors would stop being so self-centred and rude, by putting down yr neighbours' rail-facing units/pool facing/greenery facing units, its not going to do any good to the sub-sales of all the units as potential buyers might get put off by all your negative comments. this is suppose to be constructive forum. thanks
if the govt is indeed letting out supply of mass-end condos, doesn't it mean that there is a shortage of housing in this area, esp if the government has a target of 6 mio people here. The actual supply would only come on stream in 4-5 years time, RT having to TOP during times where such mass-end housing is lacking, wouldn't it be beneficiary (at least in the short term)? moreover there are not many new developments in the upper BT area for a long time. espa/hillvista are further down upper BT which are unlikely to TOP so soon also, those who want an (almost) immediate new home to stay in this area doesn't have many choices also
heard that alot of expats have moved towards the Upper BT area because the rents further down at BT area have shot up too much, this is going to be beneficiary to RT as well
If there is shortage of housing in mass condo projects, developers shuld welcome the govt move because they will have more land to build more condos and hence more profits. This, unforunately not the case as developers this time just like the 1996, urging Govt to continue exercise restraint in the land programme. While the short term future for Singapore is bright, but things can turn around very quickly if cost of living surge ahead and MNC find it hard to operate in this environment
fyi if you are aware of the dynamics behind developer's earnings and how they make money, you would know that their earnings are most sensitive to pricing than volume. it doesn't make sense for developers to want the government to flood the market with excessive supply and depress the pricing (since pricing is a function of supply and demand). of course, the developer would want the govt to hold back releasing land supply in this case. moreover, the sharp surge in pricing in the high-end has not filtered down that much to the mass-mkt, why would the developers want the govt to release more land to depress pricing?but from the govt's perspective, its diferent. they need to ensure that housing remain affordable (at least for public housing) and ensure that there is sufficient housing. i believe that they are anticipating more middle/upper middle income migrants to come to spore (to hit 6mio ppn target) and perhaps more upgraders, hence the release of land.
Read my msg again. I said, I got offer not I assume and I rejected cause I believe it will go up further else, I will stay there.
Mass condo projects also must see locations. Do you want a condo in a prime and unique location or right next to your friendly HDB blocks?
It's a mistake to build a condo by the foot of the nature reserve. Now, driving towards upper bt timah, the view is blocked by this ugly concrete giant. Nature lover should not by this condo because it has affected the reserve, and if you are not a nature lover, you should not consider this place which will be full of nature creepers, monkies, insects, flies, spiders, maybe scorpions and other crawlers. No one should have bought this condo and force the developer to tear it down for the sake of our beautiful nature reserve.
Hello! It's not that the developer took down all the trees and cleared this plot. The plot has long time housed a factory. Furthermore, this plot is not classified by URA as "BT Nature Reserve".
If the plot was filled with trees then it's a different story. Govt wud not allow it anyways. What makes this development special is... you cant find similar anywhere else in Spore. This place is definitely worth more than it's now!
Can you write in proper English. It is an eyesore to read such poor language construction and grammar. Thanks.
If it is a mistake, why do you even bother to join this forum?
If it is a mistake, try writting to the ST forum, raise your concerns to the sg government, report RT to the Global Green Network then. Don't just sit there and fart.
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