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mr funny
04-10-06, 14:00
Singapore Companies
Published October 4, 2006

Chip Eng Seng, Lehman in JV for West Coast project

By UMA SHANKARI

CONSTRUCTION and property company Chip Eng Seng Corporation will team up with a Lehman Brothers' investment vehicle to develop a residential project on the former Westpeak condominium site in West Coast in a 50/50 joint venture, the company said yesterday.

Chip Eng Seng, which started out as a construction company before expanding to property de velopment recently, announced that its property arm CEL Development has entered a joint venture (JV) agreement with WP Mauritius Holdings to develop the site, which Chip Eng Seng bought in April this year at a collective sale for $206.1 million.

WP is a wholly owned investment vehicle of Lehman Brothers Real Estate Partners II and its affiliated investment entities.

Under the JV agreement, the residential project will be developed through a joint-venture vehicle, CES-West Coast Pte Ltd. CEL and WP will each have a 50 per cent stake in the JV company.

In yesterday's announcement, Chip Eng Seng also said that another one of its wholly owned subsidiaries, Chip Eng Seng Contractors (1988) Pte Ltd, will be appointed as the main contractor to design and build the project.

The project is not expected to have a significant impact on the net tangible assets and earnings per share of Chip Eng Seng for the current financial year ending December 31, 2006, added the company.

The tie-up between Chip Eng Seng and Lehman Bro thers Real Estate Partners II is not the first. Earlier this year in July, the two companies announced that they were teaming up to build a high-end residential development in Cairnhill in another 50/50 joint venture.

This time around, the West Coast development is expected to be mid-tier. The site has an area of 311,829 square feet, making it the biggest freehold collective property in terms of land area to be transacted in recent years.

When it bought the site in April, Chip Eng Seng said it could redevelop the site into a new project with about 545 units averaging 1,200 sq ft.

Chip Eng Seng's shares closed 2.5 cents higher at 27.5 cents yesterday.

Unregistered
25-06-07, 22:38
Anyone know when this one is launching?

gowest
06-07-07, 12:13
Anyone know when this one is launching?
heard it's gonna be mid-july; price ranges fm 800-900psf.

any views on the pricing....i feel it's way over!

Unregistered
06-07-07, 13:27
How can they launch at this price? Units are still available just as we speak at Bottannia at $730 to $750 psf.

This would drive shoppers straight to Botannia.

Unregistered
06-07-07, 13:34
Sim Lian is probably kicking themselves for launch Carabelle so soon. Had they waited three months, Carabelle would have been sold at much higher prices than they were able to get.

The parc is going to cause the entire west coast project to be repriced.

home-buyer
06-07-07, 17:43
at tat price, i'm holding back my horses!

top @ 2012; might as well wait n see!

Unregistered
06-07-07, 17:49
Wait and see what? See so many new millionaires isit. Still wait. No need to wait lar. Just buy. This one can buy. 5000psf also can buy. Crazy market what. No need to see one. Just cheong. Give empty cheques and buy buy buy. Buy all you can and see all the money coming in. Machiam like drinking water like that. Money falls on you. Just buy. Cheap leh. Singapore soon got 6.5 m people. Wah piang, 2 more million people stay where? So buy. Later this one becomes 10,000psf then you dare not see. My call - buy. Your risk - you take the risk yourself hor. You win big you don't share with me what.

ht
08-07-07, 00:04
How can they launch at this price? Units are still available just as we speak at Bottannia at $730 to $750 psf.

This would drive shoppers straight to Botannia.

dun think it's overpriced compare to Botannia, as it's location is much much better than botannia.
In fact, if it is priced nearer to Botannia's price range, everybody will rush for the Parc!! it will sell well, but not maximising its return

but I think it's launch will bring some life to the "West Coast Projects", as it was also reported early this week that the area is still lagging today's market.

I was told by one of the agents, blank cheques have already being handed out to them. The studios (ony 24 units) are especially hot !!!

good for "WCP" :) :)

Unregistered
08-07-07, 09:12
dun think it's overpriced compare to Botannia, as it's location is much much better than botannia.
In fact, if it is priced nearer to Botannia's price range, everybody will rush for the Parc!! it will sell well, but not maximising its return

but I think it's launch will bring some life to the "West Coast Projects", as it was also reported early this week that the area is still lagging today's market.

I was told by one of the agents, blank cheques have already being handed out to them. The studios (ony 24 units) are especially hot !!!

good for "WCP" :) :)

Agree, the location is much better. To begin with, you can actuallt walk to clementi center and MRT station (7-10 min walk) from this site. Secondly, I received an email from an agent that this is going to be the tallest condo in that area, 24 storey.

Unregistered
08-07-07, 09:28
In terms of area, I think where Varsity Park/Clementiwoods area is the best. So if The Parc is priced at $800-900psf..... Then Varsity Park at $600-700psf is still a bargain tho it's 99yr. The location should make up for it. What do you guyz think?

Unregistered
08-07-07, 09:57
In terms of area, I think where Varsity Park/Clementiwoods area is the best. So if The Parc is priced at $800-900psf..... Then Varsity Park at $600-700psf is still a bargain tho it's 99yr. The location should make up for it. What do you guyz think?

I don't think you can walk to MRT station from Clementi woods. The site at Parc condo is in walking distance (less than 7-8min) to two wet markets. I think from clementi woods, you can walk to one wet market only

ht
08-07-07, 21:43
I don't think you can walk to MRT station from Clementi woods. The site at Parc condo is in walking distance (less than 7-8min) to two wet markets. I think from clementi woods, you can walk to one wet market only
VP and CW being 99 will expectedly fetch lower price then FH and 999 projects in WCP. In addition, their location is not help by the lack of a good pri school.
Though i must say both projects have enjoyed good appreciation since their launch.

Unregistered
08-07-07, 23:29
i am comparing west coast FH and 999 projects at 750-800psf vs. Bukit Timah (near to King Albert area) FH projects at 1200-1500psf.

Which one is more worthy from potential point of view? Thanks!

ht
08-07-07, 23:51
i am comparing west coast FH and 999 projects at 750-800psf vs. Bukit Timah (near to King Albert area) FH projects at 1200-1500psf.

Which one is more worthy from potential point of view? Thanks!

i believe you have rightfully chosen 2 areas that are still lagging the market. If the Parc launched at 800psf, i think it's a good choice with some upside expected. But i think you may have to drop a cheque to secure the good price. If you are keen, you can drive by the car park, and there should be agents lurking around.
btw i am not one of them, i just met one when i went down to check out the place.

Unregistered
09-07-07, 08:37
i believe you have rightfully chosen 2 areas that are still lagging the market. If the Parc launched at 800psf, i think it's a good choice with some upside expected. But i think you may have to drop a cheque to secure the good price. If you are keen, you can drive by the car park, and there should be agents lurking around.
btw i am not one of them, i just met one when i went down to check out the place.

I think the prospect for an over supply problem (starting in 2010 or 2011) is good as you will expect more and more lands will be release as news of market rises keep coming. Prices in many places are already gone up 60-80% which unfotunately is not relected in URA numbers. I will be very cautious to buy for investment even though there may be some upside left. In stocks, I don't mind to take risk if there is 20% upside left, but not in property because it transaction is more complicated.

Unregistered
09-07-07, 10:36
Went to westpeak condo to take a peek (no pun intended) with my wife. there is no sign of any activity. No showflat, and no banner. It seems many weeks if not months away from an official launch, unless the showflat is far away, which is not likely.

My wife saw the dengue fever banners everywhere in the neighborhood and said you want to buy here and catch dengue fever? She said we have to be crazy to live here, let alone paying 800 psf. haha! She makes sense or not?

Unregistered
09-07-07, 11:35
dun think it's overpriced compare to Botannia, as it's location is much much better than botannia.
In fact, if it is priced nearer to Botannia's price range, everybody will rush for the Parc!! it will sell well, but not maximising its return

but I think it's launch will bring some life to the "West Coast Projects", as it was also reported early this week that the area is still lagging today's market.

I was told by one of the agents, blank cheques have already being handed out to them. The studios (ony 24 units) are especially hot !!!

good for "WCP" :) :)

Why is the location much better than botannia. It is much closer to AYE than botannia, and much noisier. Granted it is closer to Clementi MRT, but can you walk there under a hot sun without getting a heat stroke?

I am not a owner of botannia, but I would much rather buy a unit there at 730 psf than paying 800+ psf for a unit at the parc.

Unregistered
09-07-07, 13:10
Why is the location much better than botannia. It is much closer to AYE than botannia, and much noisier. Granted it is closer to Clementi MRT, but can you walk there under a hot sun without getting a heat stroke?

I am not a owner of botannia, but I would much rather buy a unit there at 730 psf than paying 800+ psf for a unit at the parc.

The area is certainly over supply of projects and will get worse in the next three years. Many lands and enbloc lands will be available for condos. When there are so many new condos on the market within the short time, you should know what will happen. This is just like the mid-90s in district 21. In the case of district 21, at least there are no HDB to come in to share the pie. When the multi blocks 40-storey HDB blocks are up in three years time, the situation will really get worse as those HDB will command the best view among all condos in the west coast area.

St.
09-07-07, 13:17
I learnt this has 7 blks of 24-storey total 659 units. What is the site area? ... it seems another huge project. MM Lee said the government will check property price and ensure it is competitive in the region. There will be more supply and likely some anti-speculation measures if it continues to go crazy like now. Be cautious unless buying for own stay or long-term investment.

Unregistered
09-07-07, 13:36
VP and CW being 99 will expectedly fetch lower price then FH and 999 projects in WCP. In addition, their location is not help by the lack of a good pri school.
Though i must say both projects have enjoyed good appreciation since their launch.

There are buyers trying to offload urgently at almost par even with the launched price after deducting stamp duties. You go figure which sellers are trying to smoke you to part with more money than their true current value.

Unregistered
09-07-07, 13:42
I learnt this has 7 blks of 24-storey total 659 units. What is the site area? ... it seems another huge project. MM Lee said the government will check property price and ensure it is competitive in the region. There will be more supply and likely some anti-speculation measures if it continues to go crazy like now. Be cautious unless buying for own stay or long-term investment.

I think this developer is now caught in a bind. With the government and LKY watching the property market so closely, this huge condo is on the balance. Launching too high will scare away upgraders. If no deferred payment, less upgraders and punters. I will not touch this one for investment. I will consider buying it for stay if the price average at 550 to 600 psf.

Unregistered
09-07-07, 13:48
There are buyers trying to offload urgently at almost par even with the launched price after deducting stamp duties. You go figure which sellers are trying to smoke you to part with more money than their true current value.

Don't exaggerate. I am not a flipper either, but I have found that most of the west coast project have experienced a 20-30% in the last three months. Just look at the advertisements.

You know anyone that tries to unload at developers' prices? Let me know. I will buy.

Unregistered
09-07-07, 13:50
I think this developer is now caught in a bind. With the government and LKY watching the property market so closely, this huge condo is on the balance. Launching too high will scare away upgraders. If no deferred payment, less upgraders and punters. I will not touch this one for investment. I will consider buying it for stay if the price average at 550 to 600 psf.


Not afraid of dengue fever?

Unregistered
09-07-07, 13:54
Don't exaggerate. I am not a flipper either, but I have found that most of the west coast project have experienced a 20-30% in the last three months. Just look at the advertisements.

You know anyone that tries to unload at developers' prices? Let me know. I will buy.

Check last Sat classified. Look for "Urgent Sales". You'll find your bargain.

Unregistered
09-07-07, 13:58
Could you be kind enough to let us know which projects are subject to such urgent sales, are they been offloaded at developers' prices.

Can't find the papers you are talking about.

mike_jl89
09-07-07, 14:00
Freehold Condo located on West Coast Road. (Old West Reak)

7 blocks of 24 storey condominium with 659 units available
1+study approx 667sq ft (24 units)
2+study approx 980 sq ft (71units)
3br approx 1216-1302 sq ft (282units)
3+study approx 1421 sq ft (126 units)
4br approx 1442-1518 sq ft (144 units)
5br approx 2432 sq ft (9units)
Penthouse approx 3498 sq ft (3units)

Facilities includes Elderly Fitness Corner, Spa Beds, children's playground,
Floating Slabs, Reflective Pool, Lagoon Pool, Toddler's Pool, Spa Seats, Timber Bridge, Jacuzzi, Continental Shelf Plaza, Linear Slabs, Adventure Play Area, Fitness Corner, 50m Lap Pool, BBQ Area, Basketball Court, Aqua Gymnasium, Entertainment Deck, Wading Pool, Broadwalk, Landscaped Garden, Lazy River.

5 mins walk to food centre and wet market
10 mins walk to Clementi town and MRT station
10 mins drive to West Coast Park, Education Hubs(NUS,Singapore Poly, United World College of S.E.A. , Biomedical Hubs of Buona Vista and Science Park.
15 mins drive to Mount Faber Park, Hobourfront, Vivo City, Sentosa Future Integrated Resort.

Launching Soon ..

For more details .....

Unregistered
09-07-07, 14:12
Where is the showflats? I was at westpeak, and all I saw was the old condo, and lots' of banners warning of dengue fever. there is a big cluster nearby. No showflats!

Unregistered
09-07-07, 14:14
I think this developer is now caught in a bind. With the government and LKY watching the property market so closely, this huge condo is on the balance. Launching too high will scare away upgraders. If no deferred payment, less upgraders and punters. I will not touch this one for investment. I will consider buying it for stay if the price average at 550 to 600 psf.

The government and LGY are caught in a bind too. to crush the market will certainly destroy a lot of families and reduce GDP growth. or even cause a recession, which they definitely don't want. Not to crush, you know what will happen.

My point is that don't think there is a easy solution. there may be no solution to this problem.

Registered
09-07-07, 14:26
The government and LGY are caught in a bind too. to crush the market will certainly destroy a lot of families and reduce GDP growth. or even cause a recession, which they definitely don't want. Not to crush, you know what will happen.

My point is that don't think there is a easy solution. there may be no solution to this problem.


Now this statement, I agree totally.
This is a balance act.

Unregistered
09-07-07, 14:38
The property market is very much like the IRs. The government want the actions to be limited to foreigners, and want locals to not get involved in either IR or properties. But locals are natural gamblers, and they will ignore government advise and get involved any way.

What will the government do? Put security guards at launches and allow in only high net-worth foreigners? Not feasible!!!

Unregistered
09-07-07, 15:19
Now this statement, I agree totally.
This is a balance act.

It is easy,
all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.

Unregistered
09-07-07, 15:24
It is easy,
all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.

Then you are killing the entrepreneural spirit.

DBS
09-07-07, 15:25
It is easy,
all the govt need to do is to make it very hard for folks and banks to tighten the credit. For example, there is no reason to loan money to a guy who already own one or two properties for his own living unless he can back the loan with financial credentials.


Bank exposure to investment property loans are quite low.

Unregistered
09-07-07, 15:26
so, a reason cannot buy a house for his mom as a gesture of gratitude?

That is unreasonable. You guys who miss the boat what the government to crack down so you can get in? Right. The government knows your motive. they will not be easily swayed.

Unregistered
09-07-07, 15:29
Then you are killing the entrepreneural spirit.

That is right. The government doesn't want Singaporeans to be risk averse robots either. Putting too many rules and regulations in place will certainly drive most innovative and creative minds out of Singapore.

The only thing LKY and the government can do is to curb excessive gambling in the property markets. they have already done that, by installing the anti-speculation measures in 1996.

Unregistered
09-07-07, 16:06
so, a reason cannot buy a house for his mom as a gesture of gratitude?

That is unreasonable. You guys who miss the boat what the government to crack down so you can get in? Right. The government knows your motive. they will not be easily swayed.

I am not a speculators and I did buy property in Jan which I understand that someone is willing I can sell to make a 25% profit. But, I am buying for medium to long term investment. The rate the price spike up is not a good thing for any asset classes, esp for property. Since I am not a speculator, I certainly don't want to see a speculator-driven market and has to deal with the inevitable which is the burst of a bubble. If things are not improving in the next three months, I may have no choice, but force to sell my property to take profit first.

Unregistered
09-07-07, 17:38
The showflat is at the end of the West Coast Walk, near the bus-stop/overhead bridge. It's not completed yet. Public launch is end July.

Btw, I am not an agent, but heard the info from my friend and am interested in buying to stay, so I went down to check it out.

I think the main advantages of this place are these:
(a) Freedhold
(b) Closest to Clementi MRT and amenities...I parked and walked to the MRT - close enough + lots of food places + even cinema complex coming soon
(c) Access to development...don't know how to put this in words exactly, but having gone to see Inifiniti/Botannia, the road leading in feels congested/narrow; when Inifiniti/Botannia TOP, + cars from private houses & Monterrey, I think the morning traffic will be a killer

My only concern is proximity to Clementi Stadium, but I think looking at the capacity of the stadium, there won't be a 'Kallang Roar' level of noise.

All in all, I think I will seriously consider this provided its not too expensive. Hope it will be sensibly priced...

Unregistered
09-07-07, 17:43
The showflat is at the end of the West Coast Walk, near the bus-stop/overhead bridge. It's not completed yet. Public launch is end July.

Btw, I am not an agent, but heard the info from my friend and am interested in buying to stay, so I went down to check it out.

I think the main advantages of this place are these:
(a) Freedhold
(b) Closest to Clementi MRT and amenities...I parked and walked to the MRT - close enough + lots of food places + even cinema complex coming soon
(c) Access to development...don't know how to put this in words exactly, but having gone to see Inifiniti/Botannia, the road leading in feels congested/narrow; when Inifiniti/Botannia TOP, + cars from private houses & Monterrey, I think the morning traffic will be a killer

My only concern is proximity to Clementi Stadium, but I think looking at the capacity of the stadium, there won't be a 'Kallang Roar' level of noise.

All in all, I think I will seriously consider this provided its not too expensive. Hope it will be sensibly priced...

Agree - sensible price - 600psf.

Greed - sensible greed - 1200psf.

Crazy buyer - crazy price - 1500psf.

Unregistered
09-07-07, 17:50
Think we will be looking at mid 800+ to 900psf

ht
09-07-07, 20:41
Why is the location much better than botannia. It is much closer to AYE than botannia, and much noisier. Granted it is closer to Clementi MRT, but can you walk there under a hot sun without getting a heat stroke?

I am not a owner of botannia, but I would much rather buy a unit there at 730 psf than paying 800+ psf for a unit at the parc.

Well, at least you have a choice.
The PARC is also closer to the city, Holland V, Biopolis area....

Also for Botannia, you will have to walk a little further to access the bus stops on both West Coast Highway and AYE.

Also, this is FH development, everything else being the same, I think it will probably be preferred over 877 yrs leasehold.

Well, let's see how the Parc does with ref to Botannia when the former is launched.

Unregistered
10-07-07, 09:36
877 years leasehold is different from FH? You are being silly. 1000 years from now, there probably would be no need for land. There probably will be technology that allows you to live in space, or probably live in floating platforms circulating the earth.

Or, to make an argument you can understand, you are already dead at that time, and you bones have turned in ashes.

Home buyer
10-07-07, 22:09
Am seriously considering this 1 - quite like all the plus-points as mentioned.

But what you guys think of the price between $800-900? Heard it cld be even higher at official launch!

ht
10-07-07, 22:38
Am seriously considering this 1 - quite like all the plus-points as mentioned.

But what you guys think of the price between $800-900? Heard it cld be even higher at official launch!

at 800psf, i think it's still ok. Not too much above.
what size are you looking at? Managed to have a look at the floor plan. The 2 plus study only have 1 toilet :-( Otherwise seems pretty decent.

Home Buyer
11-07-07, 12:09
at 800psf, i think it's still ok. Not too much above.
what size are you looking at? Managed to have a look at the floor plan. The 2 plus study only have 1 toilet :-( Otherwise seems pretty decent.

Looking at the smaller units. Ya, strange the 2+1 seems to hv only 1 toilet - its psf is lower than 1+1 too.

Feels tat it's a big risk if pricing exceeds 850psf.

Unregistered
11-07-07, 15:57
This place is as close to the AYE as the Infiniti. Can it sell at $850 psf?

ht
11-07-07, 21:00
This place is as close to the AYE as the Infiniti. Can it sell at $850 psf?

Well, you can't have everything.... but at least it is in close proximity to the buses plying along AYE, and allow you quicker access to clementi, when you choose to use foot.

It is not the key factor, but one of the reasons I bought Infiniti was that the 2 access gates on the AYE side allow residents quick access to the bus-stop as well as short walk to Hong Leong Garden Shopping Centre.

I believe 850psf for The PARC is possible, in fact 900psf is as far as it may go I think, provided nothing "drastic" happens to the market in the next 3-6 mths.

cautious
12-07-07, 13:05
News and warnings are ringing - both by property experts and by garment!

Think b4 u move!

Unregistered
12-07-07, 13:42
Citibank, as BT reported today, doesn't see government intervening in the market, other than to release more land, which market participants already expected.

Just my two cents.

orange
24-07-07, 18:03
http://img529.imageshack.us/img529/968/parc1aw4.jpg

Onlooker
24-07-07, 18:22
I think the container port terminal just added new facilities and expanded its container ports in WC. Check the website. It's more likely for the authority to remove all the containers at Tg. Pagar (facing Sentosa Cove) and move them to Pasir Panjang and WC. WC is also very close to the industrial Jurong Island, so it makes alot of sense to park all the containers on WC. It is also possible that since the casino is located in Sentosa, there must be a red-light district somewhere and it can't be at Sentosa/Vivocity. The distance between CBD and Geylang is about the same distance between the Sentosa casino/Harbourfront business district and WC port terminal, so it makes sense to have a new red-light district in WC also, although it will be somewhat shielded by the WC Highway. It will likely be sprouted along the eastern-side of west coast park, near the port, somewhat behind the western-end of Pasir Panjang. On this, there is no need for the Govt to announce after NDP.


Your analysis is first-rate. If I may add, the red-light district in WC will be easily contained and it will gain popularity as it is hidden near the container port and near the sea. This will free the very buildable Geylang area from prostitution and turn it into a world-class residential area at the fringe of the CBD. In the new WC red-light district which will grow by itself, it is quite ideal because there is no HDB town nearby and is very easily accessible by the gamblers and holiday-makers at Sentosa IR. S'pore like almost any city needs a red-light district and if Geylang must be moved, it must be moved into the W.C. right. So the WC is perfect in everyway.


My guess is it will be located near the car-mart and the pasir panjang food centre. It will not cause any disturbance to the residences there as there is a buffer and WC has many university students, so it will not rally affect the reputation. So in future, people who needs a shot will not say "let's go geylang", but "I need to visit the W.C."


How to prevent the undergraduates guys and girls from patronising or working there? There must be proper checks in place.

Unregistered
29-03-08, 15:20
Developer had put up adverts in today's ST classified, thought all units sold out already????

Unregistered
29-03-08, 16:35
Developer had put up adverts in today's ST classified, thought all units sold out already????
Are you sure! than they have to put up their signboard again fof sales....BTW how much are they asking?

Unregistered
29-03-08, 17:29
Are you sure! than they have to put up their signboard again fof sales....BTW how much are they asking?

They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.

Unregistered
29-03-08, 19:50
They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.

Forget about next down turn, folk! Today ppty price is the future bottom level already. Forget the past and face tmrw with our new global city, Singapore.

We are now at the bottom of the new ppty cycle. The game is just to begin.

Unregistered
30-03-08, 01:41
Forget about next down turn, folk! Today ppty price is the future bottom level already. Forget the past and face tmrw with our new global city, Singapore.

We are now at the bottom of the new ppty cycle. The game is just to begin.

My advice is just look at New York and London, even these cities have down-turns lower than their previous peak. So what do u think makes sg so special that this is the bottom? Trying very hard to talk up the mkt rite? Haha.

Unregistered
08-04-08, 21:18
They are all returned units. Last I heard there were around 40 units returned and in the previous round, around 25 units were sold. Now maybe around 15 units left. Later part of the yr when the next 10% is up, i'm certain there will be more returned units. Majority of ple trying to ask for 1000-1100 psf to flip but i guess its very hard. Hutton's agent every now and then call me to ask if i'm interested in taking over some of his client's units, some even willing to just break-even. Even the very early units were sold at ave 850psf and above so these ple find it very hard to flip for a decent profit.

I will buy this estate if px is 700-750 psf. But since developer sold at a px higher than the value i attach it, i just have to look at other estate or wait for the next down turn. Generally its not a bad estate but px is too high.
Stop daydreaming!
Recent transaction data from from URA:

Project Name
Street Name
Type
Price
($)
Land/
Floor Area (Sqft)
Unit Price ($psf)
Date of Option Exercised / Sales Agreement Signed

THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08

Unregistered
09-04-08, 07:14
Stop daydreaming!
Recent transaction data from from URA:

Project Name
Street Name
Type
Price
($)
Land/
Floor Area (Sqft)
Unit Price ($psf)
Date of Option Exercised / Sales Agreement Signed

THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08

Aiyah, dun know how many times this has to be reminded, caveat lodged at URA always shown after 2 to 3 mths one, those transacted prices should already be history and doesn't really reflect the sentiments currently, dun bluff yourself lah

Unregistered
09-04-08, 09:57
Stop daydreaming!
Recent transaction data from from URA:

Project Name
Street Name
Type
Price
($)
Land/
Floor Area (Sqft)
Unit Price ($psf)
Date of Option Exercised / Sales Agreement Signed

THE PARC CONDO WEST COAST WALK Condominium 1,500,000 1,464 1,025 Mar-08
THE PARC CONDO WEST COAST WALK Condominium 1,549,488 1,518 1,021 Feb-08

I dun believe in historical data, I only believe in current and future forecast.

Current:- Specuvestors still able to wait awhile, but not much longer as DPS projects due for next payment in the next few months. There are many who can't hold will have to either return the units (like the earlier returned Parc units) or sell at a lower margin. Thus px will tread lower.

Current px already took into consideration and more, all the future developments like IR, F1, 5.5 mio population story which has yet to materalize.

Future:- As it is now, the supply shortage situation is already less of a crunch now. Just ask your agents or those of you who are agents, there are ample units both newly TOPed and old condos available for rental. The only problem is owners are asking sky-high rents which tenents are not really bitting. Give it 6-9 mths more and these owners either have to

1) Split their family and stay in their investment property and current home
2) Let it remain vacant and use as weekend holiday home
3) Lower the rent or lower the selling price

My view is (3) :D

And in the next couple of yrs, there will be a supply glut, despite the slower launches from developers. As such, there will be more pressure to reduce rents/ prices when the current tenancy expires.

Thus now is the beginning where property px is going to slide down. Mark my words, you have been warned.

Unregistered
09-04-08, 13:53
I dun believe in historical data, I only believe in current and future forecast.

Current:- Specuvestors still able to wait awhile, but not much longer as DPS projects due for next payment in the next few months. There are many who can't hold will have to either return the units (like the earlier returned Parc units) or sell at a lower margin. Thus px will tread lower.

Current px already took into consideration and more, all the future developments like IR, F1, 5.5 mio population story which has yet to materalize.

Future:- As it is now, the supply shortage situation is already less of a crunch now. Just ask your agents or those of you who are agents, there are ample units both newly TOPed and old condos available for rental. The only problem is owners are asking sky-high rents which tenents are not really bitting. Give it 6-9 mths more and these owners either have to

1) Split their family and stay in their investment property and current home
2) Let it remain vacant and use as weekend holiday home
3) Lower the rent or lower the selling price

My view is (3) :D

And in the next couple of yrs, there will be a supply glut, despite the slower launches from developers. As such, there will be more pressure to reduce rents/ prices when the current tenancy expires.

Thus now is the beginning where property px is going to slide down. Mark my words, you have been warned.

u r absolutely right!!

April 9, 2008

Prices of high-end condos starting to fall as sales dwindle

Downward trend may continue for next few quarters, experts predict

By Fiona Chan, Property Reporter


HOME prices are starting to fall, as several high-end properties begin to feel the squeeze of retreating buyers.

Sales of Singapore's most expensive condominiums - all the rage last year - have dwindled to just a trickle this year.

And with plunging sales, prices have also started to dip, although official figures have yet to reflect this trend.

Early signs of the slide lie in the handful of caveats filed involving many luxury projects in the first quarter. These showed prices fell from the previous quarter, in some cases by up to 20 per cent.

In Districts 9 to 11, Singapore's creme de la creme of residential locations covering Orchard, Holland and Bukit Timah, average prices have fallen by about 30 per cent since the beginning of the year, according to caveats.

They dropped to an average of $1,564 per sq ft (psf) between January and March from $2,023 psf in the preceding three months.

In luxury island enclave Sentosa Cove, almost all condos posted drops in average psf prices, ranging from 2 per cent for the Marina Collection to 23 per cent for The Azure.

Property experts say this could be because luxury home buyers are now selecting only the most competitively priced properties.

'Market activity is very slow now, so any transactions that do take place are likely to be from people who have found attractive buys,' said Mrs Ong Choon Fah, the executive director at property firm DTZ Debenham Tie Leung.

She said high-end properties in the traditional prime districts were more dependent on investor buying, so they could be more affected by the current global credit crunch and weaker sentiment.

'A lot of people who bought luxury homes are also 'specuvestors', so they may be happy making just a small profit and selling quickly,' Mrs Ong explained.

The Government estimated last week that private home prices continued to climb in the first three months of the year, albeit at a slower pace. They rose 4.2 per cent, down from 6.8 per cent in the previous three months.

In the priciest segment, the core central region, the price gain dropped to 4.4 per cent from 7.5 per cent in the previous quarter. This region covers Districts 9 to 11, the Marina Bay area and Sentosa.

Anecdotal evidence from property insiders and caveats lodged, however, showed that prices at many projects fell rather than rose this year. At Scotts Square in Scotts Road, only two units have been sold so far this year - at an average price of $3,700 psf, down from $4,000 psf for 42 units in last year's fourth quarter.

Similarly, at The Oceanfront @ Sentosa Cove, the most recent deals were in February, where three units were sold at $1,720 to $1,751 psf. Just six months before that, 15 units were sold at an average price of $2,480 psf.

Other high-profile, pricey condos, such as the Marina Bay Residences and The Marq on Paterson Hill, have yet to see a single caveat lodged this year.

But the story is not all bad. The Orchard Residences, which holds the title of Singapore's most expensive condo, has sold only one unit this year - but at $4,700 psf, higher than most of its other sales.

Other older condos in areas such as Cavenagh or Balmoral may also be trading at higher prices from their previously low base, pushing up the overall prices for the whole district, suggested Mr Ku Swee Yong, director of marketing and business development at Savills Singapore.

But he said the price index for high-end homes may be under pressure in the next two quarters, now that 'everyone wants a bargain'.

'You only need developers to start giving discounts or people starting to buy lower-

floor units instead of penthouses. That will push the index down and put pressure on prices.'

[email protected]

Unregistered
09-04-08, 13:57
I heard from agent a few bought several units of Parc.Looking for highrise to jump now as their units TOP is long way in 2011.

Unregistered
09-04-08, 15:27
I heard from agent a few bought several units of Parc.Looking for highrise to jump now as their units TOP is long way in 2011.

Who are these people? can I call them up and personally laugh at them and call them morons?

Unregistered
09-04-08, 15:27
I heard from agent a few bought several units of Parc.Looking for highrise to jump now as their units TOP is long way in 2011.

The way the units were being priced by the developer leaves no room for any upside in the short term, even for those who bought as `business associates' and VVIP. If one can hold, I say just keep it for own stay as its not a bad property actually plus its freehold and near to amenities.

However, if one were to buy to flip, let me wish you good luck. From the time The parc was `sold out' till now, I have seen the asking px drop from $1,400 psf to now $1000-1100psf. And most of the buyers probably pay $800-950 psf. In short, the buyers are not making much profits, that is if, and its a BIG IF, they manage to find a buyer at $1000-1100 psf.

As for me, I'm not biting coz as mentioned in one of my earlier posts, I value this place at $700 psf. I was offered 1 of the best 4-bedder very high floor at cost-px (that means after factoring in interest costs of the 5% the owner has placed) and it still comes to close to $900 psf but I rejected the offer. At $900 psf, I believe there will be many good buys, eg D15 where there are people offering close to $1.1k psf for seaview freehold units.

Unregistered
09-04-08, 15:39
The way the units were being priced by the developer leaves no room for any upside in the short term, even for those who bought as `business associates' and VVIP. If one can hold, I say just keep it for own stay as its not a bad property actually plus its freehold and near to amenities.

However, if one were to buy to flip, let me wish you good luck. From the time The parc was `sold out' till now, I have seen the asking px drop from $1,400 psf to now $1000-1100psf. And most of the buyers probably pay $800-950 psf. In short, the buyers are not making much profits, that is if, and its a BIG IF, they manage to find a buyer at $1000-1100 psf.

As for me, I'm not biting coz as mentioned in one of my earlier posts, I value this place at $700 psf. I was offered 1 of the best 4-bedder very high floor at cost-px (that means after factoring in interest costs of the 5% the owner has placed) and it still comes to close to $900 psf but I rejected the offer. At $900 psf, I believe there will be many good buys, eg D15 where there are people offering close to $1.1k psf for seaview freehold units.

Don't buy from these speculators, let them burn in hell.

Unregistered
09-04-08, 15:50
Don't buy from these speculators, let them burn in hell.

My advice is do not curse people. Much as I feel that these speculators have only themsleves to blame if they have to suffer loses, as the current sky-high px has prevented me from buying another property for investment, but i really do not wish that anybody has to commit sucide or burn in hell.

There are many investment opportunities out there, not just properties. So if I have missed the boat for properties, I will look at other investment opportunities if the price of properties is beyond my financial capability or risk appetite.

At the end of the day, there is no short-cut to success and money may not necessary bring happiness, neither will bitterness.

Unregistered
09-04-08, 15:52
Don't buy from these speculators, let them burn in hell.

When we went to the showflats to take a look, we couldn't even get in. Only those "business associates" and "employees" were allowed in. I guess now the associates and employees regret that only they were given the privilege to buy, and burn in hell.

There is a lesson for both the developer and the privileged somewhere.

Unregistered
09-04-08, 15:57
My advice is do not curse people. Much as I feel that these speculators have only themsleves to blame if they have to suffer loses, as the current sky-high px has prevented me from buying another property for investment, but i really do not wish that anybody has to commit sucide or burn in hell.

There are many investment opportunities out there, not just properties. So if I have missed the boat for properties, I will look at other investment opportunities if the price of properties is beyond my financial capability or risk appetite.

At the end of the day, there is no short-cut to success and money may not necessary bring happiness, neither will bitterness.

No, bitterness will bring you happiness. These speculators not only have themselves to blame, their attitude during the bubble era was nothing short of being arrogant. their reply to those that expressed concerns that speculation is not good for the economy and the moral character of the country is that "we have money to invest in the properties, and since you are too poor to invest, shut up."

Now, look who are suffering and who are gloating?

Unregistered
09-04-08, 15:59
No, bitterness will bring you happiness. These speculators not only have themselves to blame, their attitude during the bubble era was nothing short of being arrogant. their reply to those that expressed concerns that speculation is not good for the economy and the moral character of the country is that "we have money to invest in the properties, and since you are too poor to invest, shut up."

Now, look who are suffering and who are gloating?

Mah's recent replies to Kwek Leng Beng's demands to reinstate deferred payment scheme are right on. Kwek's demands are nothing short of disgraceful. He was actually asking the government to encourage the citizens to speculate on properties and get themselves into trouble.

Unregistered
09-04-08, 22:21
When we went to the showflats to take a look, we couldn't even get in. Only those "business associates" and "employees" were allowed in. I guess now the associates and employees regret that only they were given the privilege to buy, and burn in hell.

There is a lesson for both the developer and the privileged somewhere.

that's life

Business Times Weekend
10-05-08, 18:22
http://www.businesstimes.com.sg/mnt/static/image/images/topMasthead_smallw.gif
YOG village will be completed by Feb 2010
It will be 4-5 months ahead of schedule because of 'green lane' status
Lee U-Wen
The Business Times Weekend
Saturday, 10 May 08

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-05-10/BT_IMAGES_UWYOG9.jpg

The Youth Olympics Games (YOG) village will be ready by February 2010 - four to five months ahead of schedule, thanks to the government giving the project 'green lane' status.

This means that there will be plenty of time for fitting out and testing, well ahead of the Games opening ceremony on Aug 14, 2010.

Various government agencies have agreed to work together and give greater priority and resources to the project at the new 19 ha University Town campus of the National University of Singapore (NUS).

The agencies will speed up approval processes, anticipate problems, resolve issues with consultants and contractors, among other things.

The Building and Construction Authority (BCA), Urban Redevelopment Authority, National Environment Agency, NParks and the Land Transport Authority have been roped in so far.

NUS deputy president for administration Joseph Mullinix, who chairs the University Town development committee, said that the government's decision to step in has helped eliminate many barriers.

'The biggest one is time,' he said. 'This project is very large. You are talking about 25-storey buildings on a very compact site, and in a very short timeframe. This is a time of heavy construction activity in Singapore, so we needed to be sure we could attract the best contractors.'

The International Olympic Committee (IOC) docked several points off Singapore's score when it bid for the YOG last year, citing concerns over the island's ability to complete the Games village on time.

But doubts were cast aside when Singapore's YOG committee reassured the IOC in December last year that there would be no hiccups with construction or red tape.

Poh Yu Khing, director of the Sports Hub project, said: 'The IOC looks at construction of major projects around the world all the time. When they saw our University Village project and the time line, naturally they had question marks. But we explained how our construction industry stands out - it is much more certain and is always able to deliver on time.'

He cited factors such as Singapore's weather, which allows construction to be carried out most of the year, extended work hours and expanded foreign quotas the government can grant for strategic projects.

BCA, the coordinating agency for University Town, is playing the role of 'goalkeeper' to ensure that the technical needs of all the other agencies are complied with.

Hardly any changes were made to the original design of the University Town after it was confirmed that it would be the site of the YOG village.

The only significant addition, said Mr Mullinix, is a dining hall that will be set up to accommodate all 3,500 athletes and the officials during meal times. This is a temporary structure that will be taken down when the Games are over, he said.

Piling work has already begun at University Town, after a ground-breaking ceremony in February.

The campus, going up on land that was the Warren Golf Course, will cost between $500 million and $600 million to build. After YOG is over, the campus will be used by NUS students who will live, learn and socialise under the same roof as their professors.

A two-level bridge across the Ayer Rajah Expressway - the upper for cars and lower for pedestrians - will link the town to the main NUS campus at Kent Ridge.

Pink4
12-05-08, 00:40
The YOG is quite a distance away from both The Parc and The Infiniti. Anyway the YOG is building 25-storey buildings which would yield a few thousand apartment units. That would dampen the demand for nearby housing units.

Curious
12-05-08, 10:06
The YOG is quite a distance away from both The Parc and The Infiniti. Anyway the YOG is building 25-storey buildings which would yield a few thousand apartment units. That would dampen the demand for nearby housing units.
You mean we (normal people) can buy or rent a NUS hostel room?

Penthousepauper
13-05-08, 14:13
You mean we (normal people) can buy or rent a NUS hostel room?

After YOG is over, the campus will be used by NUS students who will live, learn and socialise under the same roof as their professors.

A two-level bridge across the Ayer Rajah Expressway - the upper for cars and lower for pedestrians - will link the town to the main NUS campus at Kent Ridge.

Parc
09-08-08, 15:53
When 48hrs was all this takes for the project to soldout.
Understand from some insiders that units are even soldout before "soft" launch. Some agents are doing brisk biz doing sub-sales to unsuspecting buyers !! Not sure if there is any conflict of interest ...
Anyway, should be more distress sales coming from those agents still holding the units as TOP approaches..

Kon2
28-08-08, 02:48
Hi I got an offer of $900 psf for a 1302 sf unit #2x-04. Worth buying? Pls advise.

moonface138
28-08-08, 14:51
If east esta/one amber FH is already 800 to 900 psf..
What do you think of Parc at 900 psf ?
:doh: :scared-1: :banghead:

West
29-08-08, 07:54
Think western part of Spore is a much nicer place to live in ! East coast gonna get very congested down the road.. So, Parc is also very near the central.. Think still a good buy as compared to other projects nearer to the expressway.

china
09-09-08, 16:33
Think western part of Spore is a much nicer place to live in ! East coast gonna get very congested down the road.. So, Parc is also very near the central.. Think still a good buy as compared to other projects nearer to the expressway.



I agree. The Parc has a wonderful location and with the revampment in Clementi central along with the future Jurong hype ... it would be a good investment.

Happy Owner
09-09-08, 17:08
No doubt! I bought a unit there because it is just 7 minutes walked to the MRT station. The added revampment of the Clementi Central is a added bonus for me. I see good potential in this project.

Kon2
10-09-08, 03:09
No doubt! I bought a unit there because it is just 7 minutes walked to the MRT station. The added revampment of the Clementi Central is a added bonus for me. I see good potential in this project.

Hi Happy Owner, is it ok to share which unit you bought and wat is the psf you paid? As my husband and I are still pondering whether to grab the $900 psf unit of the Parc or the other unit at Botannia which is $810 psf ...

Happy Owner
10-09-08, 09:46
Hi Happy Owner, is it ok to share which unit you bought and wat is the psf you paid? As my husband and I are still pondering whether to grab the $900 psf unit of the Parc or the other unit at Botannia which is $810 psf ...

Hi Kon2, my unit is #1X-07 bought it last year for $800+psf from developer. My personal comment is those front facing unit (02,03,06,07,10,11,15,19,23) command a higher premium. We were considering to buy Botannia last year but chosen the Parc finally because of the following reasons:-

1. It is closer to the amenity.
2. It is a freehold.
3. It is the tallest project there.

There must be some reasons why the Parc is selling higher than the Botannia. Different people have different needs and opinions, the selection between both is your.

Kon2
11-09-08, 00:45
Hi Happy Owner,

Thanks alot for your info & advise. We drive pass Botannia last weekend and found that it was not very near the main road. My kids will have a problem walking out and in from the bus stop. Thus, most probably we will buy the Parc instead. We were be neighbours if you are getting for own stay but heard that TOP is around May 2010.

Happy Owner
11-09-08, 09:15
Hi Happy Owner,

Thanks alot for your info & advise. We drive pass Botannia last weekend and found that it was not very near the main road. My kids will have a problem walking out and in from the bus stop. Thus, most probably we will buy the Parc instead. We were be neighbours if you are getting for own stay but heard that TOP is around May 2010.

Hi Kon2,

Yes, I saw the Project Details board indicated 31st May 2010. It is only 1 year and 8 months from now. I am looking forward to get my keys.

If you have decided to buy the Parc, my advise to you are to buy the unit toward the West Coast Road and away from AYE. Those units closer to the AYE can be noisy according to my friend who was previously staying in this site (Previously was West Peak).

Unregistered7
11-09-08, 10:20
No doubt! I bought a unit there because it is just 7 minutes walked to the MRT station. The added revampment of the Clementi Central is a added bonus for me. I see good potential in this project.

are you sure is just 7 minute walk to MRT?

Unregistered7
11-09-08, 10:22
Hi Kon2, my unit is #1X-07 bought it last year for $800+psf from developer. My personal comment is those front facing unit (02,03,06,07,10,11,15,19,23) command a higher premium. We were considering to buy Botannia last year but chosen the Parc finally because of the following reasons:-

1. It is closer to the amenity.
2. It is a freehold.
3. It is the tallest project there.

There must be some reasons why the Parc is selling higher than the Botannia. Different people have different needs and opinions, the selection between both is your.

i'm interested, still can visit the showroom?

Unregistered 66
11-09-08, 10:57
There is no more showroom.. they torn down last year to make way for the development.

There are plenty of subsale unit. Price 900 ++ and above which I think its reasonable . If " The Rochestor " and " One North " can command 1000 psf and above and they are both lease hold... The Parc is a bargain around 900 psf ++

For those vultures looking below 800 psf.. I think it is a total waste of time ...

Unregistered___
11-09-08, 14:14
There is no more showroom.. they torn down last year to make way for the development.

There are plenty of subsale unit. Price 900 ++ and above which I think its reasonable . If " The Rochestor " and " One North " can command 1000 psf and above and they are both lease hold... The Parc is a bargain around 900 psf ++

For those vultures looking below 800 psf.. I think it is a total waste of time ...

waste of time??? Let's see, stock market going in free fall at the moment and I will not be surprised the ripple effect will be felt in the property prices...

Unregistered66
11-09-08, 17:14
waste of time??? Let's see, stock market going in free fall at the moment and I will not be surprised the ripple effect will be felt in the property prices...


Unless there is a massive burn out in the market... the mass market will still hold up as there are plenty of HDB upgraders with spare cash

Worried Owner
15-09-08, 22:42
Lehman Brothers collapsed in US. How will this affect The Parc?
Anyone can give your view?

Golden years
15-09-08, 23:03
Lehman Brothers collapsed in US. How will this affect The Parc?
Anyone can give your view?
What has Lehman Brothers got to do with us? Singapore have 5 Golden years ahead. Don't worry.

Worried Owner
15-09-08, 23:34
Well... Lehman Brother is the partner of Chip Eng Seng, developers for The Parc..

Lehman_CES
16-09-08, 00:33
was told all units sold by developers ! If really the case.. Lehman exposure no more there.. if still there, likley to be a strong seller !!! In this type of mkt.. Parc will be 600 psf is lehman is forced to sell what is remaining of the unlaunch units. will cause Parc price to collapse.. scary thought man ...
Pray hard that they tell the truth...

Farnie
16-09-08, 11:17
What has Lehman Brothers got to do with us? Singapore have 5 Golden years ahead. Don't worry.

Lets see, to build anything, somebody must provide the funds for the raw materials and labour. In this case, LB could be the source of funds for the materials while CES is the builder/ developer.

When the project finishes and project TOP, money will be collected from buyers and paid to LB and CES.

Simple question is with LB out of the equation (although I do not know how it actually affects LB (Hong Kong) which is the direct interest in The Parc), does CES still have the funds to carry on with the building and secondly if more buyers back out of the purchase (or forgo the amount paid till date->DPS project), there could be less collection than if all units are sold and thus directly impact what CES can collect.

I do hope CES still have the funds or alternative sources of funds to continue the project and hopefully when things blow over, even if they were to sell at a discount for the returned units, be it 500 or 600 psf, they still can be profitable as eventually there will still be buyers out there.

Get_real
17-09-08, 11:30
golden years ? Get real please.. Singapore is a tiny country with no resources nor talents... You must be living in a ivory tower not to realise the high cost of living and sufferings ! Golden years my foot... You need to have yr ears check lah..

Go West
17-09-08, 11:57
golden years ? Get real please.. Singapore is a tiny country with no resources nor talents... You must be living in a ivory tower not to realise the high cost of living and sufferings ! Golden years my foot... You need to have yr ears check lah..


I think investor should stay calm and not hit the panic button right now . Let the financial storm blew over ..I believe in Asian Fundamental.. though US would have a indirect impact.. but we should stand united and not over react.

mr funny
25-09-08, 11:13
http://www.businesstimes.com.sg/sub/companies/story/0,4574,298425,00.html?

Published September 25, 2008

Lehman's failure won't affect projects: CES

The 2 condos are substantially sold; funds to complete projects secured

By LYNETTE KHOO


CHIP Eng Seng (CES) said its two joint-venture projects with a real estate equity fund managed by Lehman Brothers are unaffected by the collapse of the US investment bank.

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-09-25/BT_IMAGES_LKCEL25.jpg
CityVista: The 70-unit project at Peck Hay Rd is already 54% sold at an average $2,550 psf, while The Parc Condo at West Coast Walk is 95% sold at an average price of $880 per square foot

Its JV partner is Lehman Brothers Real Estate Partners II (LBREP II), a US$2.4 billion fund that was closed in 2005. Only a fraction of that sum - some US$400 million - came from Lehman Brothers and its employees.

CES had formed a 50-50 JV with LBREP II's wholly owned special purpose vehicle WM Mauritius Holdings for two high-rise freehold condominium projects.

But a reassuring fact is that the 695-unit The Parc Condominium at West Coast Walk is already 95 per cent sold at an average price of $880 per square foot (psf). The 70-unit CityVista at Peck Hay Road is 54 per cent sold at an average $2,550 psf.

All instalments of purchase money and construction loans have since been deposited into the Project Account of the building projects as stipulated by the Housing Developers Act.

'With financing being secured with the bank, funds needed to finish the whole project was already secured. Not to mention that the projects were launched successfully and the deposits we collected are more than enough to fund the two projects till completion,' CES chief executive Raymond Chia told BT.

The two projects are expected to be completed by the second half of 2010.

CES teamed up with Lehman to bid for four projects in total. Two tenders did not succeed.

Asked if Lehman's collapse will cause CES to search for a new JV partner for future projects, Mr Chia said CES is not short of choice, having landed on the radar screen of equity funds since its partnership with the Lehman fund in 2006. CES has since received enquiries from large funds on opportunities to work together on projects in Singapore and Vietnam, Mr Chia said.

But he noted that CES can take on larger projects on its own now and, hence, has more options besides JVs. There also is the support of its 25 per cent shareholder Citadel Equity Fund, part of the Chicago-based Citadel Investment Group. Both are working together on a freehold condo project Grange Infinite, which is 100 per cent sold.

While Lehman's failure may hurt US commercial property, its impact here is likely to be cushioned.

Lehman Brothers is believed to own a 45,000 square feet building at Clemenceau Avenue worth about $80 million. Its managed fund teamed up with Australia's Lend Lease in a 75:25 JV to buy Paradiz Centre in Selegie Road for $138 million in 2006.

Paradiz Centre is being redeveloped and slated for completion by the end of this year. But it is understood that Lehman's collapse will not affect the fund that owns this project and Lend Lease has pre-emptive rights to buy out Lehman's stake in the venture.

Lehman Brothers also occupies minimal amount of office space here. It currently takes up about 40,000 square feet of office space in Suntec City Office Tower Five, a mere 3.1 per cent of the total Suntec City office space of 1.29 million square feet, according to DMG & Partners Securities.

Its other assets have been divested. The office building at 71 Robinson Road which Lehman jointly owned with Kajima Overseas Asia in April was sold to a German fund for $743.8 million, higher than some $613.4 million they spent on the land and redevelopment. Lehman sold Novotel Clarke Quay last year to CDL Hospitality Real Estate Investment Trust at $219.8 million, double the amount it spent on it.

TheParc
03-10-08, 11:33
I want to get a 3 rooms unit in the Parc. Anyone can advice how much it will cost?

code01
03-10-08, 17:04
There are plenty ard in the papers but just tread carefully....

Unregisteredxx
03-10-08, 20:20
"But a reassuring fact is that the 695-unit The Parc Condominium at West Coast Walk is already 95 per cent sold at an average price of $880 per square foot (psf)."

What about the units (out of the 95%) that are sold on deferred payment basis? Dosent the developer have to fund the cost of construction of the project?

code01
04-10-08, 11:32
"But a reassuring fact is that the 695-unit The Parc Condominium at West Coast Walk is already 95 per cent sold at an average price of $880 per square foot (psf)."

What about the units (out of the 95%) that are sold on deferred payment basis? Dosent the developer have to fund the cost of construction of the project?

Developer take loan from bank. There is not enough liquility in the market at the moment and it cause Sibor jump by 1% before MAS came in to calm the ship. 1% to us is alot. To developer even worse!!! The loan size they take...

Worried
04-10-08, 13:19
I decided to upgrade from my HDB unit and bought a unit in Parc thinking it is a good deal, at around $880 psf. Since I stay in Clementi, I like this area. But, hearing so many bad news about US and eventually coming to SG, I am having a second thought if I should sell it. Anyone can advise?

Advise
04-10-08, 13:31
I decided to upgrade from my HDB unit and bought a unit in Parc thinking it is a good deal, at around $880 psf. Since I stay in Clementi, I like this area. But, hearing so many bad news about US and eventually coming to SG, I am having a second thought if I should sell it. Anyone can advise?

Maybe you want to think about these

1. How much is your current household income? (You don't have to tell me) What is the risk of your current job? Is it stable? What extend is your company affected by the financial crisis?

2. After selling the hdb & moved to The Parc, do you have sufficient balance in your CPF ordinary account to continue paying the loan for at least 6-9 mths? 1 yr will be even safer.

3. Do you have sufficient savings to ride over say 1 yr of unemployment?

4. Are you stretching yourself financially with the bank loan? ie no more savings after the loan?

5. What other outstanding loan you have (car, house)?

code01
04-10-08, 14:57
I decided to upgrade from my HDB unit and bought a unit in Parc thinking it is a good deal, at around $880 psf. Since I stay in Clementi, I like this area. But, hearing so many bad news about US and eventually coming to SG, I am having a second thought if I should sell it. Anyone can advise?

Since you buy it already then just shift in n stay lor. Most importantly is you like the environment and if you can afford it is ok.

To sell now is a bit challenging unless u sell at a loss. Your agent told u $880psf is a good buy?!

Worried
04-10-08, 18:29
Since you buy it already then just shift in n stay lor. Most importantly is you like the environment and if you can afford it is ok.

To sell now is a bit challenging unless u sell at a loss. Your agent told u $880psf is a good buy?!

Thanks for your advise. It was such a mad rush last August to buy a unit at the showroom. It thought I was lucky but now ....

Things may not be so bad afterall. I read from the newspaper the biggest drop will be those HIGH-END ones... Parc should be considered as mass-market type which will not drop so much.

hello 33
06-10-08, 10:46
Thanks for your advise. It was such a mad rush last August to buy a unit at the showroom. It thought I was lucky but now ....

Things may not be so bad afterall. I read from the newspaper the biggest drop will be those HIGH-END ones... Parc should be considered as mass-market type which will not drop so much.


I think it is difficult for most uncompleted projects to move right now.Moreover , the TOP for The Parc is around 2010 . The current market is for genuine buyers and stayers only ..the speculators are keeping the sideline... so dun lose heart..

code01
06-10-08, 12:02
I think it is difficult for most uncompleted projects to move right now.Moreover , the TOP for The Parc is around 2010 . The current market is for genuine buyers and stayers only ..the speculators are keeping the sideline... so dun lose heart..

Very true. If ur noticed projects that have TOP earlier this yr and have been rented out, the prices are still quite ok. For eg Citylights and Seaview. Home buyers are coming in now.. anyway still long way to go.. just ride out the cycle. Cheers

Kon2
17-01-09, 02:49
Hi

Anyone knows how much is the Parc selling now? - 3 bedrooms

koinonia
21-01-09, 09:55
Hi there,

Anyone selling or knows someone who is? I'm interested in getting a 3-rm unit.

Thanks.

Kon2
24-01-09, 00:23
Hi there,

Anyone selling or knows someone who is? I'm interested in getting a 3-rm unit.

Thanks.

What psf are you looking at ?

Allthepies
25-01-09, 12:19
I want to get a 3 rooms unit in the Parc. Anyone can advice how much it will cost?
The latest caveats lodged for Parc Condo at 1,216sf is $781psf (Jan 2009). Seem like it has fallen below its launch price.

Kon2
27-01-09, 01:54
The latest caveats lodged for Parc Condo at 1,216sf is $781psf (Jan 2009). Seem like it has fallen below its launch price.

Which floor and blk is this $781 psf for? How you know it has fallen below its launch price, I thought the average launch price is $850.

Allthepies
28-01-09, 13:17
caveats lodged do not show which floor, etc. only the price and total unit size..781psf is for a 1,216sf unit. u can refer to ura website for all the caveats lodged.. https://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/transaction/TransactionController.jpf

:)

toaler
28-01-09, 13:59
Which floor and blk is this $781 psf for? How you know it has fallen below its launch price, I thought the average launch price is $850.

haha your statement is really oxymoron

stalingrad
28-01-09, 17:01
haha your statement is really oxymoron

a lot of units of the parc condo are for sale at $740-$750 psf at propertyguru.com. go check them out.

This condo is doomed, and has been doomed from the beginning.

ST88
29-01-09, 13:23
The rental market is still strong in the West Coast area so that should help this project somewhat.

However, judging by the number of sellers out there, the price will surely drop in the coming months.

Kon2
30-01-09, 02:49
Got an offer of $900+ psf for a 3 bedder (1302 sf) unit on #2X-XX (high floor). Worth buying ?

stalingrad
30-01-09, 08:46
Got an offer of $900+ psf for a 3 bedder (1302 sf) unit on #2X-XX (high floor). Worth buying ?

If you can buy a brand new condo in district 10 for less than 900 psf, why would you even consider....

coburn
30-01-09, 09:41
If you can buy a brand new condo in district 10 for less than 900 psf, why would you even consider....

Hi

Which brand new condo in D10 is less than 900psf?

Thanks!

stalingrad
30-01-09, 10:34
Hi

Which brand new condo in D10 is less than 900psf?

Thanks!

many, including viz@holland, cosmopolitan, maplewoods, tanglin regency. too many to list them all. do your homework, and don't be a sucker.

coburn
30-01-09, 14:53
many, including viz@holland, cosmopolitan, maplewoods, tanglin regency. too many to list them all. do your homework, and don't be a sucker.

thanks for the info
was looking at RV area but did not see cosmopolitan at 900psf..
will go thru again..

august
30-01-09, 15:50
thanks for the info
was looking at RV area but did not see cosmopolitan at 900psf..
will go thru again..

think he meant Metropolitan, ard 800psf or less

ahlahdin
30-01-09, 16:51
FYI, Maplewoods is D21, and Cosmopolitan is D9. Metropolitan is D3.

code01
01-02-09, 11:03
Hi

Which brand new condo in D10 is less than 900psf?

Thanks!

I think there is nothing brand new at 900psf at this point in time yet. Those 5-8 year old project maybe. Perhaps something like Robertson 100 for example. If Cosmopolitan or Rivergate is transacted at 900psf.. good luck to all... but who knows.... :D

kal
16-02-09, 19:47
any idea when is the TOP for The Parc?

Kon2
17-02-09, 01:19
any idea when is the TOP for The Parc?

From the board outside the site states May 2010

stalingrad
19-02-09, 09:23
One unit of the part condo was sold recently at $653 psf, according to BT today. Does anyone know the details. Which block and which floor? It seems that market for the parc is sinking fast, real fast. I don't think any unit was sold for less than 850psf at the launch. If so, all the buyers are staring a loss of 300k to 500k.p

stalingrad
19-02-09, 11:14
I think there is nothing brand new at 900psf at this point in time yet. Those 5-8 year old project maybe. Perhaps something like Robertson 100 for example. If Cosmopolitan or Rivergate is transacted at 900psf.. good luck to all... but who knows.... :D

One unit of sixth avenue residences was sold recently at $900 psf. Check today's BT yourself.

code01
19-02-09, 16:23
One unit of sixth avenue residences was sold recently at $900 psf. Check today's BT yourself.

oops i guess i speak too fast.. dropping faster than i predicted...

Cactus72
01-05-09, 14:33
Hi,

Anybody knows what is the flooring used for the living and dining area at Parc Condo? Is it marble or homogenous tiles? I saw the brochure and it was mentioned stone tiles.

0412
01-05-09, 21:35
Another project by the expressway....:doh:

china
06-05-09, 11:06
Another project by the expressway....:doh:


Those facing the stadium on the innerside will not be affected by the noise of the expressway..personally I thought the project look humogeus from a far ... something is brewing within those sheets ...so exciting to see how the project looks like when complete ...

Kon2
07-05-09, 00:07
Hi,

Anybody knows what is the flooring used for the living and dining area at Parc Condo? Is it marble or homogenous tiles? I saw the brochure and it was mentioned stone tiles.

Form what I saw at the show flat, living and dining and master bathroom are all marble.

Cactus72
09-05-09, 11:26
Form what I saw at the show flat, living and dining and master bathroom are all marble.

Hi Kon2,

Tks for the info....got my unit in 1st qtr 09....looking fwd to TOP then...this is the best location for a freehold condo in west coast as it is walking distance to clementi town and many facilities ard it.

Regulators
09-05-09, 12:04
expressway view can be beautiful especially if u live on a high flr.
Another project by the expressway....:doh:

Kon2
11-05-09, 03:35
Hi Kon2,

Tks for the info....got my unit in 1st qtr 09....looking fwd to TOP then...this is the best location for a freehold condo in west coast as it is walking distance to clementi town and many facilities ard it.

You got your unit from sub sale? Can share how much you paid and which unit? Thanks.

proud owner
11-05-09, 08:54
expressway view can be beautiful especially if u live on a high flr.

my friend lives in East coast ...HIGH floor too ..and by ECP .... gosh ..noise really does travel upward .. it truly is a low 'constant roar' .... may not irritate ..but its like a mosquito flying around your ear ... wont hurt but irritating sound

proud owner
11-05-09, 08:57
my friend lives in East coast ...HIGH floor too ..and by ECP .... gosh ..noise really does travel upward .. it truly is a low 'constant roar' .... may not irritate ..but its like a mosquito flying around your ear ... wont hurt but irritating sound

i guess the noise is compensated by the its view ... to truly enjoy the view .. turn on aircon and shut the double glazed window ..

that reminds me also of La Suisse ... perched on top of the highest point .. the moment you open the window ... the traffic noise from PIE is a real turn off ...

Cactus72
11-05-09, 22:37
You got your unit from sub sale? Can share how much you paid and which unit? Thanks.


$700 psf fm subsale. Stack 12 mid flr. I realised I have unblocked view for both front (Master bedrm & living rm) and back (the two bedrms). There are total 7 blocks and I don't think I will be affected by the AYE as my stack is quite far in.

I went to see the progress yesterday, got a few qns:
1) What is the monthly maintenance fee like?
2) Any idea how many lifts are there for each building?
3) What are they building on the side nearest to AYE? Can see the building which is abt 2 to 3 storey high..is it a MCP? I tot there are basement carpark? I can only guess that since there are 659 units in it, the basement carpark may not be enough and they are building MCP beside it?
4) I realised they are raising the whole project by one level up as the basement carpark seemed to be at the 1st level (e.g. same level as the grd floor as the HDB behind it. Is it good or bad as the developer is not digging below but instead putting basement carpark on 1st floor. It does seemed developer is saving cost on doing it but if they could sell additional units by digging one level below as basement carpark (assuming they have maximised the plot ratio), what could be the reason for not digging?

Kon2
11-05-09, 23:42
$700 psf fm subsale. Stack 12 mid flr. I realised I have unblocked view for both front (Master bedrm & living rm) and back (the two bedrms). There are total 7 blocks and I don't think I will be affected by the AYE as my stack is quite far in.

I went to see the progress yesterday, got a few qns:
1) What is the monthly maintenance fee like?
2) Any idea how many lifts are there for each building?
3) What are they building on the side nearest to AYE? Can see the building which is abt 2 to 3 storey high..is it a MCP? I tot there are basement carpark? I can only guess that since there are 659 units in it, the basement carpark may not be enough and they are building MCP beside it?
4) I realised they are raising the whole project by one level up as the basement carpark seemed to be at the 1st level (e.g. same level as the grd floor as the HDB behind it. Is it good or bad as the developer is not digging below but instead putting basement carpark on 1st floor. It does seemed developer is saving cost on doing it but if they could sell additional units by digging one level below as basement carpark (assuming they have maximised the plot ratio), what could be the reason for not digging?

I think you got a real good price, I paid $850 psf for stack 04 but on high floor. I like the layout which is the same as yours. But I prefer the corner unit cause I found those in the other blocks are too close to the neighbouring units and its away for the AYE plus 270 degree view.

1) I think the maint. fees should not exceed $300 for a 3 bedroom.
2) Should be 2 lifts per block cause maximum only 4 units per floor.
3) There will be a MCP at each corner of the project.
4) Developer is definitely saving cost, plus raising the project one level up not only separate the whole project from the main entrance, linking pathway and the 2 MCP, it also gives the ground floor units, the pool and other facilities more privacy.

Kon2
11-05-09, 23:55
Hi Cactus 72

I have attached the site plan and some pictures of the show flat for your reference.

Cactus72
12-05-09, 00:24
I think you got a real good price, I paid $850 psf for stack 04 but on high floor. I like the layout which is the same as yours. But I prefer the corner unit cause I found those in the other blocks are too close to the neighbouring units and its away for the AYE plus 270 degree view.

1) I think the maint. fees should not exceed $300 for a 3 bedroom.
2) Should be 2 lifts per block cause maximum only 4 units per floor.
3) There will be a MCP at each corner of the project.
4) Developer is definitely saving cost, plus raising the project one level up not only separate the whole project from the main entrance, linking pathway and the 2 MCP, it also gives the ground floor units, the pool and other facilities more privacy.

Hi Kon2,

Thank you for answering all my queries and providing me the siteplan..I managed to get the brochure from CES as the salesperson was quite helpful to provide me even though I didn't buy directly from them.

1) You bought from the developer? That's not too bad as I read some even bought at $1,040 psf for high flr units. I think if you like your unit and for own stay, it won't affect you since you won't be selling it when TOP.

2) Yup, the price is attractive and I guess the owner was cutting losses as I heard from the agent he was holding 5 units and disposing some. Was quite surprised and worried when he accepted our offer as we were expecting the price to drop further (we were actually considering carabelle and not willing to offer any price far fm it as the mkt sentiments were quite bad at the beginning of the yr). But now it seemed not likely that price will drop much lower since positive signs are coming back.


3) Didn't realise the other side has a MCP though but the site area is quite big for the developer and I am alrdy quite happy with the facilities it is building. Anyway, better than building more units though...

Antz621
12-05-09, 00:31
$700 psf fm subsale. Stack 12 mid flr. I realised I have unblocked view for both front (Master bedrm & living rm) and back (the two bedrms). There are total 7 blocks and I don't think I will be affected by the AYE as my stack is quite far in.

I went to see the progress yesterday, got a few qns:
1) What is the monthly maintenance fee like?
2) Any idea how many lifts are there for each building?
3) What are they building on the side nearest to AYE? Can see the building which is abt 2 to 3 storey high..is it a MCP? I tot there are basement carpark? I can only guess that since there are 659 units in it, the basement carpark may not be enough and they are building MCP beside it?
4) I realised they are raising the whole project by one level up as the basement carpark seemed to be at the 1st level (e.g. same level as the grd floor as the HDB behind it. Is it good or bad as the developer is not digging below but instead putting basement carpark on 1st floor. It does seemed developer is saving cost on doing it but if they could sell additional units by digging one level below as basement carpark (assuming they have maximised the plot ratio), what could be the reason for not digging?

Hi just like to know your deal of 700psf when was it inked? Your unit is the 1216 sqft type?

Thanks for sharing!

Cactus72
12-05-09, 00:39
Hi just like to know your deal of 700psf when was it inked? Your unit is the 1216 sqft type?

Thanks for sharing!

Hi Antz621,

Not to mention as I need to know more abt the project since the brochure will not have all information...no harm sharing information ard..

If you visit URA website, it was inked in Mar 09....1302 sqft...

Antz621
12-05-09, 09:41
Hi Antz621,

Not to mention as I need to know more abt the project since the brochure will not have all information...no harm sharing information ard..

If you visit URA website, it was inked in Mar 09....1302 sqft...
Roger. Saw that! Thanks!

How did you come to know about yr unit? Via agent or internet sales or newspaper?

I looking for one unit too. After spending 30 years living in Clementi, I guess I am not going anywhere else for the next 30! :D Thus considering it since the time taken to walk to MRT is the same duration as I spent if I walk from my home now.

carpel
12-05-09, 17:01
I wonder what would be the Selling Price of those not Sun facing unit. Those on stack 4 or 12 are all west facing unit and can be very hot.

Cactus72
13-05-09, 12:41
Roger. Saw that! Thanks!

How did you come to know about yr unit? Via agent or internet sales or newspaper?

I looking for one unit too. After spending 30 years living in Clementi, I guess I am not going anywhere else for the next 30! :D Thus considering it since the time taken to walk to MRT is the same duration as I spent if I walk from my home now.

Internet website like propertyguru, iproperty. Good luck!

Antz621
13-05-09, 23:59
Internet website like propertyguru, iproperty. Good luck!

Kam Seah very much ;)

novel
20-05-09, 17:53
my friend lives in East coast ...HIGH floor too ..and by ECP .... gosh ..noise really does travel upward .. it truly is a low 'constant roar' .... may not irritate ..but its like a mosquito flying around your ear ... wont hurt but irritating sound

yes, my friend bought One Leicester and he said this is one big disadvantage so he always had to close all the windows in order to keep the noise out. And moreover he do not have much view as compared to East Coast. The only BIG consolation, he bought the unit CHEAP cheap!;)

Morale of the story: If the condo is near expressways/roads with alot of noise, try to get squeeze price else its like buying noise. :p

tboonk
23-05-09, 11:41
Hi, can let me know which agent you corresponded with? Considering a unit there if your previous owner is willing to let go other units.


$700 psf fm subsale. Stack 12 mid flr. I realised I have unblocked view for both front (Master bedrm & living rm) and back (the two bedrms). There are total 7 blocks and I don't think I will be affected by the AYE as my stack is quite far in.

I went to see the progress yesterday, got a few qns:
1) What is the monthly maintenance fee like?
2) Any idea how many lifts are there for each building?
3) What are they building on the side nearest to AYE? Can see the building which is abt 2 to 3 storey high..is it a MCP? I tot there are basement carpark? I can only guess that since there are 659 units in it, the basement carpark may not be enough and they are building MCP beside it?
4) I realised they are raising the whole project by one level up as the basement carpark seemed to be at the 1st level (e.g. same level as the grd floor as the HDB behind it. Is it good or bad as the developer is not digging below but instead putting basement carpark on 1st floor. It does seemed developer is saving cost on doing it but if they could sell additional units by digging one level below as basement carpark (assuming they have maximised the plot ratio), what could be the reason for not digging?

Cactus72
23-05-09, 17:14
Hi, can let me know which agent you corresponded with? Considering a unit there if your previous owner is willing to let go other units.

The time I bought was when market sentiment was at its lowest with very few transactions. That might have prompted the seller to let go this unit but now, I am not too sure you can get that price...but no harm trying. Drop me a private msg if you still keen and I will inform you the agent's contact as I understand she still has some units for sale.

I saw an advert from Savills in Straits Times today and you can try asking from them too as I think they have quite a few units for sale....or you can call the developer (Chip Eng Seng) directly (just search its website for contact number) as it has sales rep too (maybe able to get better price since you go directly to them).

Cactus72
23-05-09, 17:36
Btw...I am not gaining anything for passing her contact. Just feel bad for her that the seller actually cut her commission to 1% for selling at that price.

Antz621
23-05-09, 18:21
Hello Tboonk,

Thanks to Cactus, I had sms his agent. She was quite nice in admitting to me that she didn't want to contact me at the moment although Cactus passed her my contact. Reason being because some of the sellers are holding back their units. I guess probably due to the considerable mismatch between our asking and their expecting price... Nonetheless I appreciate her honesty. In the meantime I had engaged 2 more agents to work on getting a unit done. One is also having some units on hand while the other is going to approach the developer direct for me. Perhaps we can mutually exchange and share info as we go along ;)

Kon2
28-05-09, 02:57
Wat is the reasonable price to pay for a 3 bedroom in the Parc now?

carpel
28-05-09, 09:29
Wat is the reasonable price to pay for a 3 bedroom in the Parc now?


the market price is around 850 psf..some owners are asking even higher around 900 psf . Reasonable price should be within the 800 psf range

Antz621
29-05-09, 10:24
Wat is the reasonable price to pay for a 3 bedroom in the Parc now?

Bank valuation as of now is as low as 750psf and max of 780psf.

Me also waiting for apples to drop from the sky.

Good Luck to you too!

dormer
22-06-09, 12:29
Anybody know what is the unit no of the recent transcation price of 853psf for 1216sqft?

koh
24-06-09, 21:25
Can any expert here advise on the finishing for the parc condo? I am looking to buy a 2BR unit over there. Thanks for the advice.

kenkaw
24-06-09, 23:47
Anybody know what is the unit no of the recent transcation price of 853psf for 1216sqft?You can find out from the following website:

www.streetsine.com (http://www.streetsine.com)

dormer
26-06-09, 16:18
You can find out from the following website:

www.streetsine.com (http://www.streetsine.com)

Thank you very much for your valuable information. Wow! The price is really running upwards now.

COCOCO
26-06-09, 21:54
Wat is the reasonable price to pay for a 3 bedroom in the Parc now?

What about Carabelle and Botannia? What is the reasonable price for a 3 bedder in these two developments?

ECN
23-07-09, 14:12
looking to buy a 3 or 3 +1 bed rooms around Clementi area. Budget is within 1mil. Been staying in the east so not very familiar with the west, wish to know which is a better condo to buy for own stay. Reason for moving to the west is that kid studying at Clementi area and i heart pain see him traveling long hour everyday. Would appreciate any advise. Thanks!

pinkamoon
08-09-09, 14:51
Hi all! I bought a unit at The Parc too. However I bought it at quite a high price at blk 11. I am in a dilemma as to whether to sell it or to stay at the place since the transacted price is still below my cost price.
:scared-4:

Lucas
08-09-09, 21:03
Hi all! I bought a unit at The Parc too. However I bought it at quite a high price at blk 11. I am in a dilemma as to whether to sell it or to stay at the place since the transacted price is still below my cost price.
:scared-4:

Well, how high did you get that unit?
If you can hold, you should wait and see the response to the launch of Hundred Trees (Former Hong Leong Garden) end of this month, which is launching it at least $920 - 950 psf.

pinkamoon
08-09-09, 21:12
quite close to the launch price of 100 trees. When I decide to buy the Parc, I walked from the site to clementi, factored into the new rejuvenated town, the amenities around the area. When I finally decided, I had the intention to stay at this place. You know, looking at how the prices slide over the one and a half year can be scary.
These days the prices of the new condos are crazily high, even the hdb resale flats are VERY high too. So, hopefully the price of The Parc can escalate too. Just for assurance that there is potential for this place. :ashamed1:

proud owner
08-09-09, 21:37
quite close to the launch price of 100 trees. When I decide to buy the Parc, I walked from the site to clementi, factored into the new rejuvenated town, the amenities around the area. When I finally decided, I had the intention to stay at this place. You know, looking at how the prices slide over the one and a half year can be scary.
These days the prices of the new condos are crazily high, even the hdb resale flats are VERY high too. So, hopefully the price of The Parc can escalate too. Just for assurance that there is potential for this place. :ashamed1:


when i buy a place .. i always buy with intention to stay .. then consider if i want to rent ,,who would rent etc etc ..

in your case buying to stay ..no problem lah .. time is on your side ..

Lucas
08-09-09, 22:06
quite close to the launch price of 100 trees. When I decide to buy the Parc, I walked from the site to clementi, factored into the new rejuvenated town, the amenities around the area. When I finally decided, I had the intention to stay at this place. You know, looking at how the prices slide over the one and a half year can be scary.
These days the prices of the new condos are crazily high, even the hdb resale flats are VERY high too. So, hopefully the price of The Parc can escalate too. Just for assurance that there is potential for this place. :ashamed1:

In term of distance to MRT & amenities, The Parc should beat Hundred Trees. So, don't see why you need to rush selling it if you are financially OK:-)

proud owner
08-09-09, 22:10
In term of distance to MRT & amenities, The Parc should beat Hundred Trees. So, don't see why you need to rush selling it if you are financially OK:-)

on the other hand ..nearer to clementi MRT also mean nearer to AYE ..also mean noiser ...

so pros and cons ..

if you get an upgrader who used to live next to a railway track .. then AYE is small fly compare to the train noise ..

so to each .. 'Beauty lies in the eyes of the beholder"

Antz621
09-09-09, 10:10
Hi all! I bought a unit at The Parc too. However I bought it at quite a high price at blk 11. I am in a dilemma as to whether to sell it or to stay at the place since the transacted price is still below my cost price.
:scared-4:
You bought during initial launch?

pinkamoon
09-09-09, 16:21
ya... so now i will just keep my fingers crossed.

cheerful
09-09-09, 16:34
ya... so now i will just keep my fingers crossed.
May I ask what was the launch price then? IMO this shld be betta than 100 Trees leh..

Antz621
09-09-09, 19:55
May I ask what was the launch price then? IMO this shld be betta than 100 Trees leh..

I understand launch price was like 950~1000+ for this project. Yet sold out within 2 weeks. That was during the crazy rush back in 2007. Yes, I also feel Parc is anytime better than CHI-BA-A-CHEW-ZHANG :D. However, just dun really buy the idea of having balconies for master bedroom as well as one of the bedroom for the PARC's 3 bedder and above. Kinda lugi unnecessarily on valuable floor area :o

Lucas
09-09-09, 20:35
I understand launch price was like 950~1000+ for this project. Yet sold out within 2 weeks. That was during the crazy rush back in 2007. Yes, I also feel Parc is anytime better than CHI-BA-A-CHEW-ZHANG :D. However, just dun really buy the idea of having balconies for master bedroom as well as one of the bedroom for the PARC's 3 bedder and above. Kinda lugi unnecessarily on valuable floor area :o

This psf is probably for the smaller unit ones there. BTW, what is CHI xxxx? Are you swearing something?:scared-2:

jonleelk
09-09-09, 21:38
This psf is probably for the smaller unit ones there. BTW, what is CHI xxxx? Are you swearing something?:scared-2:

It is hokkien for "hundred trees". :D

Antz621
09-09-09, 21:47
It is hokkien for "hundred trees". :D

Thanks Boss for the clarification... :)

Sorry Lucas for the misunderstanding caused :p Was hoping to inject a bit of humor via hokkien :D

Lucas
09-09-09, 22:03
Thanks Boss for the clarification... :)

Sorry Lucas for the misunderstanding caused :p Was hoping to inject a bit of humor via hokkien :D

:) :) :)

The trees are supposed to be Japanese Sukura Trees. Then, the Japanese name of the condo can be known as 百桜の木 ?

cheerful
09-09-09, 22:08
I understand launch price was like 950~1000+ for this project. Yet sold out within 2 weeks. That was during the crazy rush back in 2007. Yes, I also feel Parc is anytime better than CHI-BA-A-CHEW-ZHANG :D. However, just dun really buy the idea of having balconies for master bedroom as well as one of the bedroom for the PARC's 3 bedder and above. Kinda lugi unnecessarily on valuable floor area :o

Oh so that's the price range then during boom time '07 - thanks for the info ;)

Antz621
10-09-09, 10:41
:) :) :)

The trees are supposed to be Japanese Sukura Trees. Then, the Japanese name of the condo can be known as 百桜の木 ?
Yes. But that would have the effect of drawing Jap expats to the development as they are the dominant expat racial group in west coast. Then maybe this pricing will be push up even further like that we locals lugi again. So better stick to CHI BA A CHEW ZHANG :D

Antz621
10-09-09, 10:43
Oh so that's the price range then during boom time '07 - thanks for the info ;)

Yes. It was much crazier than the pricing at the 3 developments of BIC next to Hong Leong Gardens. Until today, sellers are still asking at > 900psf for it. I like the location very much. But the prices are just :scared-4:. Guess Cactus72 really got himself the best deal so far at $700psf for his unit... ;)

yinghere
11-09-09, 17:44
anybody know how to check the LATEST transaciton price of the Parc (i mean more update than those at URA website)? thanks!

pinkamoon
11-09-09, 18:22
You can go to www.streetsine.com (http://www.streetsine.com) . I always go there to check for the latest transaction. :)

yinghere
11-09-09, 19:42
thank you!:) i found from streetsine that there's not many transactions since Aug (only 1 actually), the no. of transaction for bigger size (1518sqf) units is far less (only 3 since July 07), and that the highest transaction price this year for a 1518sqf unit (high flr) is 824psf. But why are the sellers still asking for $950+psf for 1518sqf units (even for low flr)? are they serious sellers?

Honesty
11-09-09, 19:47
thank you!:) i found from streetsine that there's not many transactions since Aug (only 1 actually), the no. of transaction for bigger size (1518sqf) units is far less (only 3 since July 07), and that the highest transaction price this year for a 1518sqf unit (high flr) is 824psf. But why are the sellers still asking for $950+psf for 1518sqf units (even for low flr)? are they serious sellers?

Sellers can ask for any price they want, but no one will buy from them....unless sucker.

yinghere
11-09-09, 19:51
sorry, typo. it should be 3 transactions for 1518sqf units since July 08.

Lucas
11-09-09, 20:38
Yes. It was much crazier than the pricing at the 3 developments of BIC next to Hong Leong Gardens. Until today, sellers are still asking at > 900psf for it. I like the location very much. But the prices are just :scared-4:. Guess Cactus72 really got himself the best deal so far at $700psf for his unit... ;)


You probably cant get $700 psf anymore unless another Lehman Brothers kind of collapse. Looking the the recent transaction, already moving closer to $900 psf:

3 West Coast Walk #07-06
Freehold
$895
1216
$1088k
11 Aug 09
5 West Coast Walk #03-10
Freehold
$797
1216
$970k
31 Jul 09
9 West Coast Walk #06-18
Freehold
$860
1292
$1111k
15 Jul 09
3 West Coast Walk #10-06
Freehold
$850
1216
$1033k
10 Jul 09
3 West Coast Walk #11-06
Freehold
$850
1216
$1033k
09 Jul 09
1 West Coast Walk #18-02
Freehold
$867
1216
$1054k
06 Jul 09
3 West Coast Walk #11-07
Freehold
$855
1216
$1039k
02 Jul 09


These transactions were done deal more than a month ago and most likely seller now will be asking more knowing that Hundred Trees may be launched more than $900 psf.

Antz621
12-09-09, 10:37
You probably cant get $700 psf anymore unless another Lehman Brothers kind of collapse. Looking the the recent transaction, already moving closer to $900 psf:

3 West Coast Walk #07-06
Freehold
$895
1216
$1088k
11 Aug 09
5 West Coast Walk #03-10
Freehold
$797
1216
$970k
31 Jul 09
9 West Coast Walk #06-18
Freehold
$860
1292
$1111k
15 Jul 09
3 West Coast Walk #10-06
Freehold
$850
1216
$1033k
10 Jul 09
3 West Coast Walk #11-06
Freehold
$850
1216
$1033k
09 Jul 09
1 West Coast Walk #18-02
Freehold
$867
1216
$1054k
06 Jul 09
3 West Coast Walk #11-07
Freehold
$855
1216
$1039k
02 Jul 09


These transactions were done deal more than a month ago and most likely seller now will be asking more knowing that Hundred Trees may be launched more than $900 psf.

:banghead: Sigh...:(

pinkamoon
12-09-09, 12:43
Very True. If units at 100 trees are launched at 900+. it will definitely push up the prices around the area... heard from agents that many owners are holding back their units...

jsh
12-09-09, 12:50
Very True. If units at 100 trees are launched at 900+. it will definitely push up the prices around the area... heard from agents that many owners are holding back their units...

100 trees will be marketed at $930-$980 psf. thats according to the marketing agents & soft launch will be on 24-25 sept. they will accept bookings now.

Lucas
12-09-09, 20:46
:banghead: Sigh...:(


Understand your feelings:( If I would have bought a unit a few months back .....

Cactus72
15-10-09, 21:09
Wow...this is fast! I believe this block is block 5, based on the facing.

Lucas
18-10-09, 11:11
Wow...this is fast! I believe this block is block 5, based on the facing.
This is not a true photo. The person who did this had done a convincing job. I just passed by this morning n did not see that the whole block is like what in the photo.

piaget_sg
19-10-09, 08:46
This is not a true photo. The person who did this had done a convincing job. I just passed by this morning n did not see that the whole block is like what in the photo.

Hi Lucas,

These photos are real. It is being photographed from the back and not the front.

At the moment, amount the 7 blocks, only one block is being shown with 85% completion.

proud owner
19-10-09, 23:20
Hi Lucas,

These photos are real. It is being photographed from the back and not the front.

At the moment, amount the 7 blocks, only one block is being shown with 85% completion.

i havent seen Parc nor 100 Trees ..

but i roughly know their locations .. why do i get the feeling Parc is better than 100 trees ..but the general impression i get here is otherwise ... ?

for a start it is the one thats closest to MRT ...

noblebaby
20-10-09, 01:14
eventually they took off their "mask"... :p


Wow...this is fast! I believe this block is block 5, based on the facing.

COCOCO
20-10-09, 07:28
i havent seen Parc nor 100 Trees ..

but i roughly know their locations .. why do i get the feeling Parc is better than 100 trees ..but the general impression i get here is otherwise ... ?

for a start it is the one thats closest to MRT ...

It is surrounded by HDB flats, that's why.

xebay11
20-10-09, 08:33
It is surrounded by HDB flats, that's why.

And what is wrong with that? It is not directly surrounded by HDB flats like Trevista or Clover By the Park, where you actually even have a HDB road address.

Cactus72
20-10-09, 08:43
It is surrounded by HDB flats, that's why.

That is overstatement as only one side are HDB blocks. In fact, I prefer this place because it is convenient and walking distance to town centre.

xebay11
20-10-09, 08:57
i havent seen Parc nor 100 Trees ..

but i roughly know their locations .. why do i get the feeling Parc is better than 100 trees ..but the general impression i get here is otherwise ... ?

for a start it is the one thats closest to MRT ...

Hype and novel marketing of 100 Trees.

piaget_sg
20-10-09, 08:59
Hi all,

Would the Parc be a better buy if the price is slightly lower or similar to Hundread Trees?

Whether for investment or own stay, seem the Parc still a better a option. Any advise from the experts here?
:)

stalingrad
20-10-09, 10:03
The parc condo is not necessarily a better buy than hungry trees. All units in this condo have innumerable planters and bay windows. and many of these planters are so huge you can put an elephant in them. Usable space is therefore very limited. if they sell you at 900 psf, it is equivalent to 1200 psf if you exclude the phantom space. Plus this place is surrounded by a sea of HDB blocks, making this area not so prestigious, unlike hungry trees.

but hungry trees have its own problem, such as being closer to AYE. so on balance, I would say it they are about the same.

yinghere
20-10-09, 10:29
100 trees: better layout (more useable space), more exclusive, within 1km to nanhua, walking distance to MRT is almost the same as the Parc.

the Parc: nearier to NTUC, more convieniant to clementi MRT if you go by bus

pinkamoon
21-10-09, 21:04
Hmm... location wise, the parc should be better as it is nearer clementi town and mrt. certain blocks like blk 11 is within 1km to nanhua (i checked with the school). good for heartlanders like me. luckily the front view is the private houses and stadium, so, there is unblocked view.

Personally, I like hundred trees for the exclusivesness. Quite nice environment and it's quite near the hawker centre too. However, I dun like the homogenous tiles and laminated flooring they are offering. It doesn't look good. At least the parc is offering marble and timbre flooring....

To sum up, location still plays an important part in my decision making. Not everyone in the household drives. I prefer to stay nearer the mrt station.

james8899
22-10-09, 07:53
I just went to ckeck the map, it seems hundred trees walking to mrt is must closer... you may check..

I reaslised one thing, The parc has almost 700 units ..hundred tress has about 396.. i think in terms of value and comptition when selling HT may has an edge.. But then again it will top 2014.. still long way to say what willl happen.. But lets see what URA will make out of Jurong .. remember 10 years plan.. I was at URA maxwell road saw a lot of interesting development designed for the Jurong areas..

xebay11
22-10-09, 08:50
I just went to ckeck the map, it seems hundred trees walking to mrt is must closer... you may check..

Map may not be accurate as it may not take into account indirect route, actual walking is the best gauge of distance.

Cactus72
22-10-09, 09:26
100 trees: better layout (more useable space), more exclusive, within 1km to nanhua, walking distance to MRT is almost the same as the Parc.

the Parc: nearier to NTUC, more convieniant to clementi MRT if you go by bus

No doubt that Hundred Trees is the best among the four new condos (Carabelle, Infiniti, Botannia and Hundred Trees) there. That's why CDL is successful in selling it at such a high price.

stalingrad
22-10-09, 09:54
No doubt that Hundred Trees is the best among the four new condos (Carabelle, Infiniti, Botannia and Hundred Trees) there. That's why CDL is successful in selling it at such a high price.

Each is entitled to his or her opinion. But I think hungry trees are as bad as the infiniti, which is far worse than carabelle and botannia.

I bet many options to buy hungry trees will lapse.

stalingrad
22-10-09, 09:57
Hmm... location wise, the parc should be better as it is nearer clementi town and mrt. certain blocks like blk 11 is within 1km to nanhua (i checked with the school). good for heartlanders like me. luckily the front view is the private houses and stadium, so, there is unblocked view.

Personally, I like hundred trees for the exclusivesness. Quite nice environment and it's quite near the hawker centre too. However, I dun like the homogenous tiles and laminated flooring they are offering. It doesn't look good. At least the parc is offering marble and timbre flooring....

To sum up, location still plays an important part in my decision making. Not everyone in the household drives. I prefer to stay nearer the mrt station.

I agree with you only heartlanders will like to send their kids to nanhua, where neither the teachers nor the students speak any english. We live very close to nanhua, but we would never send our kids to nanhua.

Number_9z
22-10-09, 10:21
I agree with you only heartlanders will like to send their kids to nanhua, where neither the teachers nor the students speak any english. We live very close to nanhua, but we would never send our kids to nanhua.

I thought Nan Hua has a much higher A* & A % for english as compared to the National results.. ..

stalingrad
22-10-09, 10:24
I thought Nan Hua has a much higher A* & A % for english as compared to the National results.. ..

Yes, they can write in english, but they speak to each other in chinese. ris low is probably a nanhua graduate.

xebay11
22-10-09, 10:34
Yes, they can write in english, but they speak to each other in chinese. ris low is probably a nanhua graduate.

Funny, I come from an English speaking background and a certain school in SG famous for students failing Mandarin, to me all Chinese speaking are "ching chongs" but now as an adult I find that many avenues are shut due to not being proficient in Mandarin.

stalingrad
22-10-09, 10:38
Funny, I come from an English speaking background and a certain school in SG famous for students failing Mandarin, to me all Chinese speaking are "ching chongs" but now as an adult I find that many avenues are shut due to not being proficient in Mandarin.

You are one of many many Singaporeans that are good at neither chinese nor english. No offense, your writing suggested that your school never taught you grammar, as is the case for most singaporeans who graduated from the primary school system.

xebay11
22-10-09, 11:41
You are one of many many Singaporeans that are good at neither chinese nor english. No offense, your writing suggested that your school never taught you grammar, as is the case for most singaporeans who graduated from the primary school system.

Ha Ha sorry to burst your bubble, but you English grammer is not that hot either and neither is your comprehension of the English language, you are drifting off topic and not posting to the point I am making.

My point is, if you will continue to shun Mandarin, you will lose out in the end, you may continue to mock me but everyone can see that you are the ultimate loser. Many people from all over the world are trying to learn Mandarin, like it or not and there is nothing you can do about it.

In the world of business, it is better to be half assed at both languages and reach out to a wider audience of people than be a mono lingual with a narrow audience.


BTW I am not really Singaporean. Shhhhhhh.......

xebay11
22-10-09, 12:16
I agree with you only heartlanders will like to send their kids to nanhua, where neither the teachers nor the students speak any english. We live very close to nanhua, but we would never send our kids to nanhua.

What an idiotic thing to do for a parent to intentionally close off future business opportunities for their children by limiting their exposure to other languages.

BB
22-10-09, 20:37
Hmm... location wise, the parc should be better as it is nearer clementi town and mrt. certain blocks like blk 11 is within 1km to nanhua (i checked with the school). good for heartlanders like me. luckily the front view is the private houses and stadium, so, there is unblocked view.

Personally, I like hundred trees for the exclusivesness. Quite nice environment and it's quite near the hawker centre too. However, I dun like the homogenous tiles and laminated flooring they are offering. It doesn't look good. At least the parc is offering marble and timbre flooring....

To sum up, location still plays an important part in my decision making. Not everyone in the household drives. I prefer to stay nearer the mrt station.

Block 11 within 1 km from Nan Hua but also very near the AYE.

pinkamoon
22-10-09, 23:14
To me, parents play an important part in nuturing the children. We cannot blame the school nor the teachers for failing to teach them well. When you point 1 finger at the others, you are pointing the rest of your fingers at yourself...

proud owner
23-10-09, 01:13
To me, parents play an important part in nuturing the children. We cannot blame the school nor the teachers for failing to teach them well. When you point 1 finger at the others, you are pointing the rest of your fingers at yourself...

well said


But the school does play an impt role as well

imagine you send your kids to good school ( or snob school) ....and everyone speaks just english .. and fail chinese .. to the child, thats ok becos everyone else in his class is not doing well in chinese either ..

jlrx
23-10-09, 01:32
BTW I am not really Singaporean. Shhhhhhh.......

You are not Singaporean yet stay in landed property ...

Must be in some "valued professional" ...

proud owner
23-10-09, 02:16
You are not Singaporean yet stay in landed property ...

Must be in some "valued professional" ...

maybe married singaporean mah ...

or can be renting landed

xebay11
23-10-09, 08:09
maybe married singaporean mah ...

or can be renting landed

Think Jet Li.

pmet
23-10-09, 10:03
I just went to ckeck the map, it seems hundred trees walking to mrt is must closer... you may check..

I reaslised one thing, The parc has almost 700 units ..hundred tress has about 396.. i think in terms of value and comptition when selling HT may has an edge.. But then again it will top 2014.. still long way to say what willl happen.. But lets see what URA will make out of Jurong .. remember 10 years plan.. I was at URA maxwell road saw a lot of interesting development designed for the Jurong areas..

Does the parc have a side gate closer to the AYE? If you measure the distance from the main entrance near West Coast Rd, the parc is much further to the MRT than Hundred Trees.

Cactus72
23-10-09, 10:38
Does the parc have a side gate closer to the AYE? If you measure the distance from the main entrance near West Coast Rd, the parc is much further to the MRT than Hundred Trees.


The main entrance is not at West Coast Rd but West Coast Walk instead.
Looking at the Grand Plan (posted by Kon2 at page 7 of this thread), I believe there are side gates at both sides of the development.

pmet
23-10-09, 10:59
The main entrance is not at West Coast Rd but West Coast Walk instead.
Looking at the Grand Plan (posted by Kon2 at page 7 of this thread), I believe there are side gates at both sides of the development.

It seems that the side gates are at West Coast Walk, not sure if there are any from at HDB side though. If there isn't, the walking distance to MRT should be further than Hundred Trees.

proud owner
23-10-09, 20:59
Think Jet Li.


Jet Li took up citizenship ...

so i assume you too ..if you asked that i 'Think Jet Li'

so you are indeed now singaporean lah ...


just not born here

pinkamoon
23-10-09, 22:38
well said


But the school does play an impt role as well

imagine you send your kids to good school ( or snob school) ....and everyone speaks just english .. and fail chinese .. to the child, thats ok becos everyone else in his class is not doing well in chinese either ..

I have a 2 and a half year old son. In order to let him have a head start in languages, I started to teach him simple English and Chinese at 9 months. He can read short sentences in both languages now.

My point is: if parents can set aside time for their children, they will pick up good reading habits. Then, we do not have to worry about not having a strong language foundation. I cannot deny that teachers are important, but most children have short attention span. We cannot expect them to absorb everything that the teachers say. Once again, parents have to revise the work learnt at home.

I personally do not mind if my son is in a good school or not. What is important is that he has self confidence. Self-fufiling prophecy always works. I hope that he can be an outstanding pupil in an ordinary school rather than an ordinary pupil in a so-called 'good' school.

Just my two cents' worth...

proud owner
23-10-09, 22:48
I have a 2 and a half year old son. In order to let him have a head start in languages, I started to teach him simple English and Chinese at 9 months. He can read short sentences in both languages now.

My point is: if parents can set aside time for their children, they will pick up good reading habits. Then, we do not have to worry about not having a strong language foundation. I cannot deny that teachers are important, but most children have short attention span. We cannot expect them to absorb everything that the teachers say. Once again, parents have to revise the work learnt at home.

I personally do not mind if my son is in a good school or not. What is important is that he has self confidence. Self-fufiling prophecy always works. I hope that he can be an outstanding pupil in an ordinary school rather than an ordinary pupil in a so-called 'good' school.

Just my two cents' worth...

i totally agree...

sending children to so called good schools .. when half the pupils are snobs from rich families ..

remember the Hwa chong student, who punched a bus driver becos the driver scolded his girl friend ??

he has no upbringing at all .. so what he is from hwa chong ? a real disappointment ..

Cactus72
24-11-09, 14:21
Someone just flip a unit at Parc Condo as follow:

Flr Area: 1,518 sqft
Bought at 825psf : $1,252,470 on Aug 2007
Sold at 995psf: $1,510,000 on Nov 2009

Profit (before netting off agent fee, stamp duty): $257,530.

Wow!

Reporter
14-12-09, 09:12
Someone just flip a unit at Parc Condo as follow:

Flr Area: 1,518 sqft
Bought at 825psf : $1,252,470 on Aug 2007
Sold at 995psf: $1,510,000 on Nov 2009

Profit (before netting off agent fee, stamp duty): $257,530.

Wow!
Lucky guy!


The Parc Condo
Address ................................... psf ................. Area ........... Price .............. Contract Date
1 West Coast Walk #19-02 ........ $955 psf ..... 1,216 sqft ... $1,161,000 ..... 20 Nov 09
7 West Coast Walk #12-13 .... $1,034 psf ....... 667 sqft ...... $690,000 ..... 17 Nov 09
1 West Coast Walk #22-14 ........ $950 psf ..... 1,292 sqft ... $1,227,000 ..... 17 Nov 09
15 West Coast Walk #16-25 ...... $928 psf ........ 980 sqft ...... $909,000 ..... 12 Nov 09
9 West Coast Walk #19-19 ........ $995 psf ..... 1,518 sqft . $1,510,000 ....... 4 Nov 09
9 West Coast Walk #15-19 ........ $950 psf ..... 1,518 sqft ... $1,442,000 ...... 19 Oct 09
15 West Coast Walk #19-25 ...... $919 psf ........ 980 sqft ...... $900,000 ...... 15 Oct 09
1 West Coast Walk #15-03 ........ $968 psf ..... 1,216 sqft ... $1,178,000 ...... 14 Oct 09
7 West Coast Walk #20-13 ..... $1,030 psf ........ 667 sqft ...... $687,000 ...... 14 Oct 09
5 West Coast Walk #09-10 ........ $880 psf ..... 1,216 sqft ... $1,070,000 ........ 8 Oct 09

Regulators
14-12-09, 17:48
i heard owners have difficulty selling their units and even paying off stamp duties for this project and it is a flop. Any agents here can testify to that?

proud owner
14-12-09, 23:59
i heard owners have difficulty selling their units and even paying off stamp duties for this project and it is a flop. Any agents here can testify to that?


hhmmm

care to share whats not attractive about Parc please ?

Regulators
15-12-09, 01:09
nothing unattractive about the project itself, just a price and location mismatch


hhmmm

care to share whats not attractive about Parc please ?

Reporter
29-12-09, 08:44
nothing unattractive about the project itself, just a price and location mismatch

hhmmm

care to share whats not attractive about Parc please ?

You mean like the new subsale high of $1,079 psf just done is a price mismatch?


The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $1,161,000 ..... 8 Dec 09

Allthepies
29-12-09, 14:04
.

The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $1,161,000 ..... 8 Dec 09

yup definitely a price mismatched. 1079 x 667 NOT= $1,161,000 :):):)

jlrx
29-12-09, 16:59
You mean like the new subsale high of $1,079 psf just done is a price mismatch?


The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $1,161,000 ..... 8 Dec 09
yup definitely a price mismatched. 1079 x 667 NOT= $1,161,000 :):):)

The correct data was

The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $720,360 ..... 8 Dec 09

Reporter
29-12-09, 17:07
The correct data was

The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $720,360 ..... 8 Dec 09
Thanks for correcting the mistake.

sunburnsamsam
06-01-10, 10:44
hi all....anyone planning to get a unit at the Parc Condo? Went down on a sat afternoon and saw that certain blocks (1,3,5,7) face the afternoon sun directly.

Saw that the "curtains" for most of the blocks are down except last 2. Wonder if the TOP is achievable by 3Q

I am trying to get a unit

Regulators
06-01-10, 12:17
Did you get the info from URA website? How could they even make such simple calculation mistakes?


You mean like the new subsale high of $1,079 psf just done is a price mismatch?


The Parc Condo
Address ................................... psf ................. Area ......... Price .............. Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $1,161,000 ..... 8 Dec 09

Reporter
06-01-10, 12:25
Did you get the info from URA website? How could they even make such simple calculation mistakes?
I made that mistake while copying the data - not URA or anybody else.
jlrx has already corrected it for me.


The Parc Condo
Address ............................ psf ................ Area ........ Price .......... Contract Date
7 West Coast Walk #16-13 .... $1,079 psf ..... 667 sqft .... $720,360 ..... 8 Dec 09

Regulators
07-01-10, 00:41
$1079psf is ridiculous for The Parc. I heard the project is negative equity, how is it someone managed to sell at this price?

xiaoyuan
08-01-10, 09:04
Who did u hear from? I think market prices have exceeded the purchase price for most owners.

Carabelle last transacted near 900psf. Should be seeing more 1000+psf transaction soon. Might go higher after Clementi central revamp is completed?

Reporter
15-01-10, 23:52
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
The Parc Condo . OCR ....... 625 ...................... 1 ........................... 914 .............. 914 .............. 914
Only 1 unit sold in December?

sfwoo
12-02-10, 14:00
Anyone selling units from this development?
(3 BR and above)

sleek
12-02-10, 14:06
Anyone selling units from this development?
(3 BR and above)

According to Caspian thread, firesales coming liao. :D


true true, near to mrt is a plus point. it's all abt greed and holding power i guess - see who can tahan longer until TOP comes, because it's show-hand time: speculators with no money have to sell, otherwise must get bank loan. many sellers in The Parc at Clementi are panicking, one agent told me. i do hope to catch a gd deal or two at the Caspian if got any (http://forums.condosingapore.com/showpost.php?p=84144&postcount=261)

Reporter
12-02-10, 15:46
According to Caspian thread, firesales coming liao. :D
The Parc Condo got fire sale meh? Where?


The Parc Condo
Address ............................ psf ............. Area ......... Price ........ Contract Date
9 West Coast Walk #07-17 ...... $929 psf ...... 980 sqft ...... $910k .... 22 Jan 10
3 West Coast Walk #16-05 ...... $918 psf .... 1421 sqft .... $1,304k .... 30 Dec 09
3 West Coast Walk #17-05 ...... $915 psf .... 1421 sqft .... $1,300k .... 28 Dec 09
3 West Coast Walk #17-08 ...... $907 psf .... 1302 sqft .... $1,180k .... 23 Dec 09
3 West Coast Walk #18-08 ...... $888 psf .... 1302 sqft .... $1,156k ..... 8 Dec 09
7 West Coast Walk #16-13 .. $1,079 psf ...... 667 sqft ...... $720k ...... 8 Dec 09

Avatar
12-02-10, 15:48
According to Caspian thread, firesales coming liao. :D



hmm...this is getting interesting...if there are firesales going on here, it will definitely have ripple effect to The Vision! How can The Vision be selling at above $1,000psf with fire sale going on here.

The location of this development (with freehold status) is definitely better than The Vision. :eek:

sfwoo
12-02-10, 19:01
The Vision is selling the villas at about $3.5million each.

The 4 room condo units are $1.8million to $2 million.

Way out...

Anyone selling Parc Condo units???

ppc88
13-02-10, 08:30
The Parc Condo got fire sale meh? Where?


The Parc Condo
Address ............................ psf ............. Area ......... Price ........ Contract Date
9 West Coast Walk #07-17 ...... $929 psf ...... 980 sqft ...... $910k .... 22 Jan 10
3 West Coast Walk #16-05 ...... $918 psf .... 1421 sqft .... $1,304k .... 30 Dec 09
3 West Coast Walk #17-05 ...... $915 psf .... 1421 sqft .... $1,300k .... 28 Dec 09
3 West Coast Walk #17-08 ...... $907 psf .... 1302 sqft .... $1,180k .... 23 Dec 09
3 West Coast Walk #18-08 ...... $888 psf .... 1302 sqft .... $1,156k ..... 8 Dec 09
7 West Coast Walk #16-13 .. $1,079 psf ...... 667 sqft ...... $720k ...... 8 Dec 09

this is December caveats, and the 1079psf is for smaller unit, agent say smaller unit priced more higher. the trend, from the above caveats and recent discussion suggest that the psf is at or even below launch price. wah, those people sell below launch price, isn't it negative equity? frankly, a 3 bedder at that kind of location going for 1.2mil is just a bit crazy. :doh: :doh: :doh: think i earn 12k a mth also need 30 yrs to pay back. if what agent say is true and people really panicking at the Parc (TOP coming very soon) then I dunno how low prices will plunge. we'll see!

ppc88
13-02-10, 08:33
The Vision is selling the villas at about $3.5million each.

The 4 room condo units are $1.8million to $2 million.

Way out...

Anyone selling Parc Condo units???

i think this will be a test case if speculators are still 'alive' and can keep biting the high prices. it's like stacking cards, it depends on how high u can stack before things become delicate....and then.....crash.

kal
13-02-10, 20:59
this is December caveats, and the 1079psf is for smaller unit, agent say smaller unit priced more higher. the trend, from the above caveats and recent discussion suggest that the psf is at or even below launch price. wah, those people sell below launch price, isn't it negative equity? frankly, a 3 bedder at that kind of location going for 1.2mil is just a bit crazy. :doh: :doh: :doh: think i earn 12k a mth also need 30 yrs to pay back. if what agent say is true and people really panicking at the Parc (TOP coming very soon) then I dunno how low prices will plunge. we'll see!

my fren just sold his 3+S unit at 989psf...plunge?? we'll see...

jonleelk
14-02-10, 06:23
What's the typical launched psf of this development? I read somewhere in this forum it started at 900psf, went to 1200 psf, and even touched 1700 psf during the super peak. Is this true? This location can hit 1700 psf?

xiaoyuan
15-02-10, 01:24
I think the highest transacted during 2008 peak was 1150psf, thereabouts. 1700 psf is impossible for this location now.. =)

jlrx
15-02-10, 03:02
According to Caspian thread, firesales coming liao. :DThe Parc Condo got fire sale meh? Where?


hmm...this is getting interesting...if there are firesales going on here, it will definitely have ripple effect to The Vision! How can The Vision be selling at above $1,000psf with fire sale going on here.

The location of this development (with freehold status) is definitely better than The Vision. :eek:

To test whether the fire of firesales is more powerful, or Propertism, which states that property prices will always go up in the long term, let's pit Propertism against Saddam Hussein's fire.

The Straits Times 3 Sep 1980, Westpeak Condominium Apartment 1,900 sq ft, $360,000. Completion 1982

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WestpeakCondo19800903.jpg

22 Sep 1980, The Iran–Iraq War began when Iraq invaded Iran on 22 September 1980 following a long history of border disputes.

http://www.caerdroia.org/oldblog/archives/abadanw2.jpg

Iraq launched a full-scale invasion of Iran on 22 September 1980. On 22 September 1980, the Iraqi air force attacked Iran, attacking ten airfields inside Iran.

On 24 September, though, the Iranian navy attacked Basra and, on the way, had destroyed two oil terminals near the Iraqi port of Fao, which reduced Iraq's ability to export oil.

The Straits Times 23 Sep 1980, Iran-Iraq War a Threat to Singapore Shipping Services

http://i305.photobucket.com/albums/nn211/jlrx_bucket/IranIraqWarThreatensSingaporeShippi.jpg

The Straits Times 27 Dec 1980, "1981 will be a gloomy year: Chok Tong"

http://i305.photobucket.com/albums/nn211/jlrx_bucket/1981WillBeGloomyGohChokTong19801227.jpg

28 April 2006

311,829 sq. ft. Westpeak Condominium Sold for S$206.088m - The Largest Private Freehold Collective Sale Site to be Sold in Recent Years

Savills is pleased to announce that Westpeak Condominium has been sold to Chip Eng Leong Enterprise Pte Ltd (a subsidiary of Chip Eng Seng Corporation Limited) for S$206.088 million.

Built more than 20 years ago, Westpeak Condominium has 152 strata titled apartments and townhouses. The site is nestled amongst several public and private residential developments such as Hong Leong Gardens Condominium and newly developed Monterey Park.

Each Westpeak Condominium owner is expected to receive between S$1.29 million and S$1.94 million depending on the size of their units. The last transaction of an apartment at Westpeak was at S$900,000 in Nov 2004.

Business Times 9 Aug 2007

70% of The Parc Condo taken up in one week

A JOINT venture between Chip Eng Seng and Lehman Brothers has sold about 70 per cent of their 659-unit freehold project, The Parc Condominium, at West Coast Walk, over the past week.

The Parc Condo: Average prices have risen from the low-$800 psf range initally to the high-$800 psf range now.

Chip Eng Seng and Lehman Brothers :doh: are developing The Parc on the former Westpeak site.

jonleelk
15-02-10, 14:21
I think the highest transacted during 2008 peak was 1150psf, thereabouts. 1700 psf is impossible for this location now.. =)

Tks for the info. Was wondering how can west coast hit 1700 so high?