Ascentia Sky (D3, 99 years, Wing Tai / United Engineers)

[bargain hunter]

yeah lah, was telling him in waterford thread that he has gotten many of us curious.

Keeping us in suspense man

[teddybear]

Which one he buy? Did I miss the post?

actually i am quite impressed with him. he just signed a deal to buy a condo today in between his multiple postings this morning and afternoon. got to hand it to him there.

[andy]

Reporter, report only in one thread. No need to put your news in so many threads.

Actually the way this forum is structured means Reporter done the right thing. If you are only interested in a particular development and the general news affects multiple developments in the same area, Reporter has no choice but to post it on multiple developments.

Not sure if there is another way when you can comment on news but relevant for a particular development

[bargain hunter]

he hasn't said. Only clues are its in D9, not mickey mouse and possibly above 1,000sq ft in size.

Which one he buy? Did I miss the post?

[pearly]

he hasn't said. Only clues are its in D9, not mickey mouse and possibly above 1,000sq ft in size.

was guessing him on D10, but the clue he gave on 9 makes me more curious

[bargain hunter]

yeah, reporter should give us more clues 1 by 1 until one of us gets it right, the game will be hotter than the mcdonald's one LOL!

was guessing him on D10, but the clue he gave on 9 makes me more curious

[teddybear]

New or resale? If resale then difficult to guess.

he hasn't said. Only clues are its in D9, not mickey mouse and possibly above 1,000sq ft in size.

[Reporter]

Record $653,000 for flat
Jessica Cheam
The Straits Times
Thursday, 12 November 2009, 10.12 pm


Chris Neo (left) and Kelvin Lim (right), seller of the flat Michael Nandakumaran (center), with sold a HDB flat at Blk 48, Strathmore Avenue for a record price of $653k. -- Photo: Desmond Lim, ST

A 4-room Queenstown HDB flat has sold for $653,000, setting a new record for psf, amid continuing red-hot demand for resale flats.

The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.

But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.

The 4-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.

This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10%.

This may be an unusually high price but resale prices have been moving up.

[xtink]

even if you remove the COV, it still works out to be $585k just based on valuations alone.....affordable???

Record $653,000 for flat
Jessica Cheam
The Straits Times
Thursday, 12 November 2009, 10.12 pm


Chris Neo (left) and Kelvin Lim (right), seller of the flat Michael Nandakumaran (center), with sold a HDB flat at Blk 48, Strathmore Avenue for a record price of $653k. -- Photo: Desmond Lim, ST

A 4-room Queenstown HDB flat has sold for $653,000, setting a new record for psf, amid continuing red-hot demand for resale flats.

The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.

But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.

The 4-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.

This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10%.

This may be an unusually high price but resale prices have been moving up.

[Allthepies]

even if you remove the COV, it still works out to be $585k just based on valuations alone.....affordable???

Very affordable if you realise that at this price u couldnt get a penthouse condo unit in that area the most u get is a MM or 1/2 a MM unit.

[cheerful]

[.....affordable???

[/quote]

very subjective????

[Reporter]

Private Residential Units Sold in the Month of October 2009

Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Ascentia Sky ..... RCR ........ 161 .......................... 5 ................................ 1,477 ............ 1,282 ............ 1,240

Wow!
Ascentia Sky has set a new high of $1,477 psf in October!
Unbelievable!

[dtrax]

Wow!
Ascentia Sky has set a new high of $1,477 psf in October!
Unbelievable!

ascend to the sky......... but looking at the past records, it is actually not surprising coz this one seems to be the small 2bedder, high floor unit. Maybe the owner really wants to ascend to the sky

[Reporter]

Private Residential Units Sold in the Month of December 2009

Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Ascentia Sky .... RCR ....... 162 ....................... 1 ........................... 1,383 ........... 1,383 ........... 1,383

Can't break November's new high of $1,477 psf.

[hk2313]

this seems to sell rather slow, doesnt it ??

Asking for 2 bedder now 1280 psf from developer, guess low floor (dont have the details yet)

[wklibran]

Can't break November's new high of $1,477 psf.

wow, at this price, can get a decent unit in the CBD already...

strangely, this project seems quiet... wonder why the developer is not actively promoting it... fully sold?

[NoodyGirl]

whoever buys at this price can do only 1 thing : get a rich husband or strike Toto
downside unlimited, upside limited

[Reporter]

whoever buys at this price can do only 1 thing : get a rich husband or strike Toto
downside unlimited, upside limited

If a project in D19 OCR can do $1,333 psf, surely $1,477 psf is not too much for Ascentia Sky in D3 RCR right?

If a project in D5 OCR can do $1,332 psf, surely $1,477 psf is not too much for Ascentia Sky in D3 RCR right?

How can RCR be the same as OCR right?

Please be prepared to vacate the OCR $1,200+ psf Club (whose members include Residences Botanique, Glasgow Residences, The Vision, Centro Residences, Trevista, Hundred Trees, Meadows @ Pierce, Serangoon Avenue 3 and Upper Thomson Road) soon!

We may need to rename it to OCR $1,300+ psf Club soon!

Why? What do you mean by why?
Look!
The nëw hïgh for District 19 is now $1,333 psf - not $1,2xx psf!


Private Residential Units Sold in the Month of February 2010
Project Name .......... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Residences Botanique . OCR ....... 135 ....................... 11 .......................... 1,333 ........... 1,063 ........... 910

Now that The Vision has set $1,332 psf hïgh in Phase 1, when are they launching Phase 2?

[cher]

If a project in D19 OCR can do $1,333 psf, surely $1,477 psf is not too much for Ascentia Sky in D3 RCR right?

If a project in D5 OCR can do $1,332 psf, surely $1,477 psf is not too much for Ascentia Sky in D3 RCR right?

How can RCR be the same as OCR right?

That is because this project is in Redhill. Why should i pay $1477 when i can get Metropolitan at $1000-1100 somemore nearer to MRT and i can move in immediately or to rent out to collect rental income instead of waiting for 3 years

[Reporter]

That is because this project is in Redhill. Why should i pay $1477 when i can get Metropolitan at $1000-1100 somemore nearer to MRT and i can move in immediately or to rent out to collect rental income instead of waiting for 3 years

It is not just D3 Ascentia Sky that has a cheaper-but-older alternative. D19 Residences Botanique has Kovan Melody while D5 The Vision has Blue Horizon.

It depends on what you are trying to compare? New RCR vs old RCR? New RCR vs new OCR?

If you compare new RCR with old RCR, then go ahead and buy almost-1-year-old The Metropolitan as it is cheaper.

[jlrx]

whoever buys at this price can do only 1 thing : get a rich husband or strike Toto
downside unlimited, upside limited

Wrong. Properties should be downside limited, upside unlimited.

Although some members here are quite tired of my news clippings, I have to bring them up now and then to correct wrong statements.



What is the downside limit of Mr. Mootiah Chitty's $8,200 (or $1.13 psf) investment? $8,200.

What is the upside? Unlimited!

Shanghai One is today transacted at $1,260 psf (based on condo floor area, not land area). Assuming developer margin of $200 psf and construction cost of $300 psf, the land cost is $760 psf ppr or $760 psf ppr x 2.8 plot ratio = $2,128 psf of land cost.

From $1.13 psf in 1920 to $2,128 psf in 2010 is an increase of 188,218% in 90 years. Applying the same rate of increase to Ascentia Sky, in another 90 years (2100), the price of Ascentia Sky will be $2.37 million psf, or $2.37 billion for a 1,000 sq ft apartment. That's why it is called "Ascentia Sky"!

Deduct 10% due to the fact that it's on 99-years lease and a differential lease premium has to be paid to the Government to approve its future en bloc sale, it will be worth about $2.1 billion per apartment (one apartment is equal to the 6th richest man in Singapore today, Zhong Sheng Jian, Chairman of Yanlord Land).

“The modern banking process manufactures currency out of nothing.”.
- Lord Josiah Stamp, Former Director of the Bank of England (1937)

“At the end fiat money returns to its inner value—zero.”
- Voltaire (21 November 1694 – 30 May 1778)

[Reporter]

That is because this project is in Redhill. Why should i pay $1477 when i can get Metropolitan at $1000-1100 somemore nearer to MRT and i can move in immediately or to rent out to collect rental income instead of waiting for 3 years

It is not just D3 Ascentia Sky that has a cheaper-but-older alternative. D19 Residences Botanique has Kovan Melody while D5 The Vision has Blue Horizon.

It depends on what you are trying to compare? New RCR vs old RCR? New RCR vs new OCR?

If you compare new RCR with old RCR, then go ahead and buy almost-1-year-old The Metropolitan as it is cheaper.

Now that The Metropolitan is back at $1,3xx psf, we know you would consider Ascentia Sky cheap at $1,477 psf.

The latest transaction for The Metropolitan.


The Metropolitan Condominium
Address .......................... psf ............... Area ........... Price ............ Contract Date
6 Alexandra View #24-03 .... $1,314 psf .... 1,066 sqft .... $1,400,000 .... 19 Mar 10

[wklibran]

Now that The Metropolitan is back at $1,3xx psf, we know you would consider Ascentia Sky cheap at $1,477 psf.

The seller must be laughing all the way to the bank ... such good price. Wonder will phase 2 of Ascentia Sky be pricing even higher given such market sentiment...

[Reporter]

The seller must be laughing all the way to the bank ... such good price. Wonder will phase 2 of Ascentia Sky be pricing even higher given such market sentiment...

If Wing Tai choose to keep the Ascentia-Sky's current price, which is about the same as The-Metropolitan-Condo's current price, then the buyers will be laughing all the way to the bank.

[wklibran]

If Wing Tai choose to keep the Ascentia-Sky's current price, which is about the same as The-Metropolitan-Condo's current price, then the buyers will be laughing all the way to the bank.

Does anyone know when is the phase 2 launching? I will like to take a second look, given the rocket launch prices by some other development else where are not as good as this in terms of location and furnishing.

[Regulators]

i remember how the forumers here were criticising 1200psf as being ridiculous for this project, now people are starting to find that reasonable...

[wklibran]

i remember how the forumers here were criticising 1200psf as being ridiculous for this project, now people are starting to find that reasonable...

yap, those were the days... now anything below $1k seems so remote and faraway....

[Reporter]

Wing Tai is having private preview of the Phase 2 units of Ascentia Sky.

All remaining last few units of 2 bedders facing Tanglin side are all sold.

Last week, a high floor unit 2 bedder is sold at $1,580 psf !

$1,580 psf? A nëw hïgh for Ascentia Sky? Wow!

[zimmer]

Noticed soil testing being carried out on the empty plot of land beside Ascentia Sky. Possible upcoming land sale?

[wklibran]

Noticed soil testing being carried out on the empty plot of land beside Ascentia Sky. Possible upcoming land sale?

wonder is it for residential or commerical land sale?