Originally Posted by
neptbay
This is from Wild Falcon too....
What's the use of living near the Sports Hub? Every weekend hear the loudspeaker from the schools doing their "Sports Day"? Living near the Sports Hub is not a plus point. At $1300psf for a 99LH condo with >600 units with significant parking shortfall and no underground parking and visitors probably have to find parking elsewhere and walk over, I'm not exactly sure what upside people are thinking of. I mean maybe the upside is $1500psf but that's not exactly a lot is it? And there are some "prime" resale condos that are trading at that range or even lower. But I guess no one development offers the SOR + 0% interest which is next best to deferred payment scheme already. Looks like the developers always know how to "siam" the government's rules.
Well, if what you said that the developer has done their research re subletting , then I am sure they must have also done in depth survey and research on the shortfall of car park lots...Obviously a development near a mrt station will attract more investors than home occupiers, meaning tenants are more likely to rely on train services than owning cars.
Its not only the Sports Hub alone, what abt the shopping complexes and the proximity to the IRs, Esplanade and the such? For those who are working in the city area, they are most likely to find accommodation nearby and rely on the trains.
Sports Day isnt it an annual affair? Anyway, school activites and hence "noises" take place during the day, at which time most of the residents will be at work..
"Prime" resale condos yes can fetch at $1300psf, but have you noticed their "tired" looks? Probably the residents there are waiting to en bloc their properties...
If the upside is $1500 psf doesnt it mean that there is already potential there already...
Just my 2 cents' worth..