$450 - $500 psf
$500 - $550 psf
$550 - $600 psf
$600 - $650 psf
Not Interest - Not worth.
Newbie
Most importantly u must like the plc and as long as u find it affordable its fine. I would love to become you neighbour but too bad they don't want my business. now I'm leaning more towards livia cos last wk they launched 4 new stacks with prices lowered by as much as 20%. For the same price at DB I can get a 4bedrm instead.Originally Posted by shespawn
Newbie
so yes like I've said earlier. onus is on us to do our own homework. buying property is a big commitment. don't be led by others or agents for that matter
Yes, so stop running down the agent here. YOu never know when someone dear to you has to be an agent and has to be ridiculed like this elsewhere
Some buyers really take the saying "customer is king" seriously. Sadly, it does not sink into them that the agents who attend to them will really try their utmost to secure the best deal for them. If cannot be done, it's really not their fault. There is a price to everything, so if you can't pay the price, why harp on it here
Newbie
You might hv misinterpreted the postings here. They were mostly pinpointing the accuracy of info given by agents and them not being upfront with bad pts of the properties. Nothing was mentioned abt them not being able to secure the best deal for buyers, wonder where u got that from?
Then again, do agents always secure the best deal for buyers or sellers? I shall not make any comments...
If u think I'm running down on agents bcos my agent cldnt close the deal for me then u must hv mistaken. In fact I'm very happy to meet one nice agent by chance who had been very truthful and helpful with my negotiation with the developer. I must say he is one of the best agents I've dealt with.
If someone close to me were to become an agent I will tell them honesty is the way to go. If u are an agent I will say the same to u. peace.
ex-Mcfarlene fan
then maybe you should be more patient by waiting for the 3 bedroom prices in DB to drop. They are left with alot of 4bedrooms. I believe they probably will slash their prices 6 months down the road, just like Livia too. At least Simei is a better location than Pasir Ris, with the Changi business park and 4th university, you probably get a better rental yield if you decide to rent out. how long have you been searching for your 3 bedroom?
Newbie
Livia is definitely a better project for own stay. If you buy for rental investment, go for 1 or 2 rooms in DBR. Rental yield is higher + easier to tenant out. But provided you don't got it at high price.
Junior
wow, lowered by 20% by Livia? at what psf? mind to share?
what is your budget? 3brm at WF can get at $760k+
Junior
I agree with you.. same view here....
Newbie
Im buying for own stay and have only started looking recently thinking that prices should be quite attractive now. Prices have indeed gone down from the initial launches last yr but generally they are sill on the high side. It seems that developers are only releasing the "not so good" units at attractive prices but keeping the better ones for later when the mkt picks up. Im also keeping my options open in case i lose my job or somethingand need to sell or rent it out. So by not paying too high a price it will still hv some upside, in a way minimise my risk. I guess i can still wait a little longer since the bigger units are not really selling. unlike the 2 bedrms....always the 1st to go.
noblebaby: Not sure if its really 20% but thats what the agent told me lah. Depending on facing and floor, some units can get at under 600psf. But there's a catch, u can't choose the color scheme.
Livia is by CDL so i supposed quality should be quite gd rite? Their lighting even hv dimming function and comes with remote control....nice!
Junior
TOP is around 2015...
Junior
That is the legal completion date. Estimated TOP is Q4 2013.
If anybody likes the DBR's location and convenience, you should buy now instead of dragging on your feet. The following are the reasons:
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Second reason is price, If you think price is high now, how about those who bought in 1996 and 2007 when private property index is at 180+. Mind you, I am a technical chartist, the current index at 140 is a good entry point as it is at the long term support line. Yah, there is a chance it will go lower but it has an equal chance that it will hold. Situation for mass market condo is unlike the 1997 crash when HDB has too many excess units. Today, HDB BTO projects are used to control supplies very effectively. And new flats in mature estates are highly sought after (see the response to Simei DBSS, The Peak, Cityview@Boon Keng u get the idea). Most DBSS flats selling prices are above 500,000 which is pretty close to a 2 bedroom mass market condo anyway, some first timers choose to buy HDB bcos they can get the grant, otherwise, they could have easily stretches to 600k+ to get a condo as they have small family typically. This will provide enough support from below to reduce the downside risk of mass market condo price crash. Even recession is prolonged, may be only another 10% downside risk.
Another plus point is the interest absorption scheme, even you pay 2% extra, the risk of interest rate hike till TOP and about 50% of the interest are actually absored by the developer. So the furhter the TOP and any delay in TOP is only to your advantage as your CPF will grow at 2.5% from now till TOP. I like DBR top date of Dec 2013, this gives me another 4 years to accummulate CPF and cash to do loan conversion at TOP. If I buy resale condo, I don't have this flexibility and worse still, I must rush to sell off my existing HDB.
ex-Mcfarlene fan
shared the same sentiments as you. 3 - 4 years of CPF contribution is pretty substantial when it comes to loan redemption.
Junior
And quoted from research from Citibank analyst:
The decline in 1Q09 has been largely in-line with our expectations. Thus, we
are maintaining our views that prices of the mid to high-end segment will
decline 35% in 2009. After the 1Q09 decline, we expect prices in the mid to
high end to deteriorate by another 20% while the downside for the mass
market is likely to be capped at around 5%.
Junior
expected date of TOP 30 June 2015
expected date of legal completion 30 June 2018
Source:As stated in the booklet distributed at the Double Bay show room by agent
acuuracy: Do not know just quote from the booklet
Junior
very informative analysis, thank you...
Junior
TOP has different degree of impact on those buying for own stay and for those buying for investment....maybe...
Junior
See attachment for the upcoming 4th university's permanent campus to be ready btn 2013-2015. The first instake is at 2011 with 500 students in a temporary campus yet to be determined. The eventual intake of students will be 2,500 (dun know when). Another plus point is some of the banks (DBS, Standchart, Citi, Barclays) are moving some of their operations to Changi Biz Park besides Expo and there is a new shopping centre cum hotel project by FraserCenterpoint there. Economy may slow in next few years, at least these 2 developments will bring in demand for housing at Simei. Therefore from a rental perpective, DBR has more potential than other mass market condo project in the east. Of course, it is already reflected in the psf pricing of DBR.
Junior
a good place for either for investment or for own stay...east has DB, west has caspian at this moment...facilities wise DB wins completely....TOP for caspian Mid 2013...for DB is 2015...
Dev. is U/C at changi side while JE is still under blueprint stage..hope it will stat soon...
Newbie
yup,both projects have its pulling power..
Junior
I have checked Modena/Tropica Spring transaction prices at 2002/2003 bottom. 2 bedroom transacted at 550-600psf, 3 bedroom transacted at 500-550psf. Even we have a prolonged recession, I don't think prices will go back to that level becos:
1. Inflation: official inflation rate at 2008 is ridiculously rated at 6.5%. One pack of rice used to be $8 a few years ago, now cost $13 !!! To me, the last few year inflation is at least 10-15%, just look at the price of one cup of coffee and MRT/bus fare.
2. Investment potential - at that time, nothing exciting, Changi Biz Park is a dead park, no 4th uni etc. The current tenants of Modena/Tropica Spring are mainly Japanese, Korean, pilots/stewardess, doctors/nurses at Changi Hospital, next time it will be lecturers from 4th uni, IT managers from Changi Biz Park
3. Real income growth in last 5 years of 4-5% annually
Therefore, I have decided to buy a unit
Junior
good choice.....
Newbie
wonderful breakdown...good choice
Junior
Free Analysis for ppl who are interested:
1. Difference per floor is 4,000
2. Prices differ a lot (can be 50-80psf) depending on facing. For example, 2-bedroom stack 31, 32 are priced lower as they are facing Simei Geen's multi-storey carpark. Stack 27/28 (3 bedroom) is cheaper bcos directly facing Simei St 4. So is stack 53, 54, 49, 50 facing MRT directly.
4. The best facing ones are all reserved for larger units 3+1 and 4 room
5. Most 2-bedroom facing North West, will get afternoon sun or noise from MRT or Simei St 4. The best one is stack 05, 06, 09, 10 (2+1) but these selling like hotcakes during the launch. By end of this month, all 2 bedrooms should have fully sold out.
6. They have 3% for the 1st 120 buyers. I think prices have gone up at least 1-3% since launch.
7. Expect to pay around 700psf for a 2 bedroom at high floor and reasonable facing, 650psf for a 3 bedroom. You should budget 650-700k for a 2 bedroom, 800-850k for a 3 bedroom.
8. They sold 264 units in March. My best guess is that they sell at least another 100+ in April which means half sold out in less than 2 months. I expect they will sell out most 3 bedroom units by year end if the recent stock market bottom is confirmed. I oso expect the price to track stock market closely on the upside. Any break of STI resistance at 1950 with target of 2,400 will probably see the price going up by another 50psf for the 3 bedder.
The key thing is their breakeven price is 600psf ... since the 3+1, 4, penthouse are selling below 600psf ... they have to make profit from 2/3 bedroom units, 2 bedroom (18 stacks, about 200 units, 630-720psf) and the 3 bedroom (20 stacks, about 240 units,620-700psf). Since estimated TOP is end 2003, legal completion is 2005, the probability of them lower their price is slim ...
Last edited by jitkiat; 26-04-09 at 00:34.
Newbie
is there a typo? TOP in 2003 or 2013?
However, very good post with detailed analysis.
ex-Mcfarlene fan
so have you buy? was there yesterday, just go there see how many units left. agent told me they will be doing the groundworks this september. So exciting!
i also kaypoh go take a look at Parc Lumiere, and it's 90% sold! singaporeans are rich man.
Newbie
How many units sold so far? Heard they raised their price is that true?
ex-Mcfarlene fan
So far i heard more than 350 units, as for price, i didn't ask, because i was there just to see how many units left. i also heard from my agent they were increasing the price for that weekend.
Junior
I was lucky to get a high floor 2-bedroom 1 week ago. Yesterday only one unit left, 4th floor on the stack facing Simei Green multi-storey carpark. The cheaper 3-bedrooms (those with absolute price below 820k) also almost all sold out.
ex-Mcfarlene fan
mine is stack 6 facing the lap pool 2+1. in 4 years time, we probably can start a forum like quartz and combine to get cheap deals from buying home appliances to renovations!
Last edited by shespawn; 27-04-09 at 10:48.
Junior
Congratualations, those who bought during launch can enjoy discounts and lower psf. I was a bit late but better late than never. 2+1 all gone liao so I got one at stack 4. Hope they can sell off their 3-bedrooms fast. The only thing that get me worried is this swine flu pandemic ...if it is like SARS, the economic recovery will slow down.
Newbie
Since u hv already bought don't worry so much lah. TOP is still long way to go, just relax and start thinking abt how to do up your new hse. There will always be gd times or bad time, sars, bird flu and now swine flu, can't help it. As long as u are buying within your means there's nothing to worry abt. Congrats!
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