Park Infinia (D11, Freehold, Keppel Homes)

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Originally Posted by Unregistered

cityvista at cairnhill is quietly selling from 2.4k psf. helios and hilltop will be interesting though. i am waiting excitedly for these to launch as i have vested interest in this area.

does anyone have any idea what happened to char yong garden's enbloc? ended quite a long time ago, and no update on it. and do you guys think elizabeth heights en-bloc will go through? the cairnhill area is going to be a construction dump, since hillcourt and silver tower are gone as well.

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Helios and Hilltop will definitely going for $3000 and above because leonie parkview is selling $2800 and already sold 18 out of 20. The developers are going to take this reason under consideration. And we know that Hilltop and helios are going to be Super luxury.

Deals transacted will only be recorded by URA after buyers' conveyancing lawyers place caveats on properties purchased. There is usually a time gap of 2-3 months before they appear for public scrutiny.

For instance last week, 26-08 and 27-07 Park Infinia, 1442 sq ft 3 bedroom apartments were transacted at $1715 and $1720 psf respectively, and by the time public come to know, another new benchmark in this rising market would have been established.

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?

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Originally Posted by Unregistered

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?

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Are you sure you can get a unit at this price? If you find one let me know please.

But facing must be good & at least above 10 storeys.

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Originally Posted by Unregistered

Are you sure you can get a unit at this price? If you find one let me know please.

But facing must be good & at least above 10 storeys.

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if you search hard enough, there are units with good facing and of decent height willing to let go under market value. however, such units are hard to come by. just need to be patient and wait. of course must spend lots of time calling up every single agent and leaving your contact number for them to get back to you when a bargain comes along. however, my fear is that even at this price, the buyer will still be sitting on negative equity 3 or 6 months down the road.

Private Residential Property Transactions with Caveats Lodged

Project Name ............... Price .......... Floor Area . Price ........ Date Of Option
Park Infinia @ Wee Nam . $2,341,800 . 1,464sqft ... $1,600psf . Jan 08
Park Infinia @ Wee Nam . $1,358,000 .... 893sqft ... $1,520psf . Jan 08
Park Infinia @ Wee Nam . $2,278,360 . 1,442sqft ... $1,580psf . Jan 08
Park Infinia @ Wee Nam . $1,207,000 .... 850sqft ... $1,419psf . Jan 08
Park Infinia @ Wee Nam . $2,064,240 . 1,464sqft ... $1,410psf . Jan 08

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Originally Posted by Unregistered

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?

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$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.

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Originally Posted by Unregistered

$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.

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In fact, you should wait for $1,000psf.
It is possible. Of course, you need to have patience. It will happen.

It is like buying Toto. One day you will strike at least the 2nd price. Of course, you must have patience. It will happen.

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Originally Posted by Unregistered

$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.

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what's considered a fair price for a high floor unit with good facing?

I do not think that the price will drop to 1,000 unless the whole world get into a recession in this inflationary environment. The cost of new building will continue to go up with cement, steel, loabour prices on the rise. Average cost per sq feet is around $300, plus the average increase in land cost i.e. average cost in district 11 will be around $700, so you need another developer margins and cost of financing. So breakeven will likely to be at $1,200

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Originally Posted by Unregistered

I do not think that the price will drop to 1,000 unless the whole world get into a recession in this inflationary environment. The cost of new building will continue to go up with cement, steel, loabour prices on the rise. Average cost per sq feet is around $300, plus the average increase in land cost i.e. average cost in district 11 will be around $700, so you need another developer margins and cost of financing. So breakeven will likely to be at $1,200

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If it's so difficult to reach $1,000psf, then it will also be difficult to strike Toto 2nd prize.

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Originally Posted by Unregistered

what's considered a fair price for a high floor unit with good facing?

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In today's market around 1400psf. But you should be thick skinned and offer 1300psf for such units and do not budge. Call up all the agts marketing PI and tell them 1300psf is your best offer for such a unit. You might be lucky to come across a desperate seller who might just give in at that price (1300psf). It is a buyer's market right now.

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Originally Posted by Unregistered

If it's so difficult to reach $1,000psf, then it will also be difficult to strike Toto 2nd prize.

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Everybody knows it is difficult to strike Toto 2nd prize what.

Leading Economic Indicators in U.S. Probably Fell in February

By Courtney Schlisserman

March 20 (Bloomberg) -- The index of U.S. leading economic indicators fell for a fifth month in February, reflecting mounting signs that a recession has begun, economists said before a report today.

The Conference Board's gauge, which points to the direction of the economy over the next three to six months, fell 0.3 percent last month, according to the median forecast in a Bloomberg News survey. The last time the index dropped for as many months was in 1990, when the economy was shrinking.

The leading index dropped as building permits, stock prices and consumer sentiment sank and first-time claims for jobless benefits jumped. Federal Reserve policy makers this week said risks to growth remain even after lowering the benchmark interest rate and making billions of dollars available to banks and securities firms to try to stabilize financial markets.

``A losing streak of five months is usually reserved for recessionary periods,'' said Jonathan Basile, an economist at Credit Suisse Holdings in New York. ``Once the labor market cracks, like it did last month, it shows the cycle is starting to turn down.''

The Conference Board, a New York-based non-profit research group, is scheduled to issue the report at 10 a.m. local time. The 58 estimates in the Bloomberg News survey ranged from a 0.7 percent decline to an increase of 0.2 percent.

Reports so far this month signal the leading index will keep falling. A report from the Labor Department due at 8:30 a.m. in Washington is forecast to show that initial jobless claims rose to 360,000 last week, according to the median survey projection.

Rising Claims

Applications for unemployment benefits last month averaged 359,200, compared with 326,500 in January, according to Labor Department figures.

A 10:00 a.m. report from the Fed Bank of Philadelphia is forecast to show manufacturing in the region contracted for a fourth month in March.

Seven of the 10 components of the leading index are known ahead of time: stock prices, jobless claims, building permits, consumer expectations, the yield curve, supplier delivery times and factory hours. The Conference Board estimates the remaining three: new orders for consumer goods, new orders for non-defense capital goods and the money supply.

Building permits for February fell 7.8 percent to an annual pace of 707,000, the lowest level in more than 16 years, the Commerce Department said on March 18.

The Reuters/University of Michigan index of consumer expectations dropped to the lowest level since 1992 last month and a preliminary reading for March, issued last week, showed the measure is still declining.

Spending Cools

Americans are spending less as pessimism grows. AnnTaylor Stores Corp., the clothing retailer geared toward women ages 25 to 55, last week reported a fourth-quarter loss and said same- store sales may decline in 2008.

The deteriorating economy had a ``major impact'' on store traffic, Chief Executive Officer Kay Krill said in a March 14 conference call.

``Downside risks to the economy remain,'' Fed policy makers said in a March 18 statement announcing the central bank lowered its target for the benchmark rate by three-quarters of a point to 2.25 percent. The Fed has cut the rate by three percentage points since September.

On March 16, the central bank also lowered the rate on direct loans to banks and said it will provide up to $30 billion to JPMorgan Chase & Co. to help finance the purchase of Bear Stearns Cos. after a run on the fifth-largest U.S. securities dealer.

More Funding

Less than a week earlier, the Fed said it would make up to $200 billion in Treasuries available through weekly auctions in exchange for other securities that for the first time will include those backed by mortgages issued by private lenders.

Companies are counting on gains overseas as the U.S. economy slows. General Electric Co. Chief Executive Officer Jeffrey Immelt told investors on March 13 that demand for the company's products from infrastructure projects and growth in Europe, Asia and Africa is helping offset any drag from a slump in the U.S.

``I still believe in the strength of the global economy now, but the U.S. consumer is in a tougher patch,'' Immelt said in a forum on the company's Web site.

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Originally Posted by Reuters

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Wall Street Jumps as Goldman Sachs and Lehman Brothers Beat Forecasts
Caroline Valetkevitch
Reuters
New York, New York, U.S.
10:25am U.S. ET

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Traders work on the floor of the New York Stock Exchange March 17, 2008. - Photo: Brendan McDermid, Reuters

Stocks jumped on Tuesday as stronger-than-expected earnings from Goldman Sachs Group Inc's and Lehman Brothers Holdings Inc provided some reassurance about the ailing financial sector.

All three major indexes were up close to 2%.

Investors also looked forward to what is expected to be a steep interest rate cut from the Federal Reserve's policy-setting committee around 2:15 pm U.S. Eastern Time on Tuesday.

Goldman and Lehman shares jumped in early trading, leading a rebound in financial stocks, which tumbled on Monday after JPMorgan Chase & Co's deal to buy struggling brokerage Bear Stearns at a rock-bottom price. A broker dealer index surged 5.9%.

"Today's a day for good news, with Goldman and Lehman results beating estimates. Right now the focus is that these earnings weren't as bad as they could have been," said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

The Dow Jones industrial average rose 231.78 points, or 1.94%, to 12,204.03. The Standard & Poor's 500 Index gained 28.18 points, or 2.21%, to 1,304.78. The Nasdaq Composite Index jumped 44.25 points, or 2.03%, to 2,221.26.

Shares of Fannie Mae and Freddie Mac rose on expectations their regulator will ease restrictions on the government-chartered companies and help them increase spending in the U.S. housing market. Fannie was up 11.8% at $24.86, while Freddie Mac was up 12.3% at $23.15.

Shares of Goldman were up 8.5% at $163.70 while Lehman was up 17% at $37.12 after reporting results that beat Wall Street estimates.

On the Nasdaq, Yahoo Inc shares rose 4.7% to $27.07 after the Internet search company affirmed its outlook for the first quarter and full year.

Interest rate futures show investors are fully pricing in a one percentage-point cut in U.S. short-term rates, which would take the benchmark fed funds target rate down to 2%.

Over the weekend, the Fed made an emergency quarter-point cut to its discount rate to 3.25% and expanded lending to a wider range of big financial firms, in the first such move since the Great Depression of nearly 80 years ago.

Data before the opening on U.S. housing starts was stronger than expected, adding further support to the market.

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Goldman, Lehman and whatman!

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Originally Posted by AP

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Morgan Stanley 1Q profit tops estimates
Joe Bel Bruno
Business Writer
Associated Press
Wednesday, 19 March 2008, 4:43 PM U.S. ET

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The Morgan Stanley headquarters is seen in New York 30 January 2008. - Photo: Shannon Stapleton, Reuters

Morgan Stanley posted better-than-expected quarterly earnings on Wednesday, joining those from two of its rivals and indicating that Wall Street may be getting a better grip on the credit crisis.

The nation's second-largest investment bank was able to parlay aggressive stock and bond trading into offsetting more losses linked to subprime mortgages. Morgan Stanley — like Lehman Brothers and Goldman Sachs on Tuesday — was also able to top Wall Street's reduced expectations by a wide margin.

Morgan Stanley's results came during a tumultuous week. Just a few days earlier, rival Bear Stearns Cos. sold itself at a fire-sale $2 per share price to JPMorgan Chase & Co. in order to avoid declaring bankruptcy. That sent a shockwave through Wall Street as investors wondered if other investment banks might be in the same predicament.

But the strong results from Morgan Stanley, Goldman and Lehman helped assuage fears of a wider meltdown in the financial system — at least for now.

"Fact is, like it or not, this is an inherently risky business where the returns will shift to those willing to take the most leverage," said Jack Ablin, chief investment officer of Harris Private Bank. "Expectations had us in a tailspin."

The earnings results not only helped shares of the investment banks recover from the lows they hit Monday in the aftermath of Bear's sale, but also backed claims by the companies' chief executives that they could take advantage of the market's dislocation.

John Mack, Morgan Stanley's CEO, said the investment house known for its trading prowess "effectively capitalized on market opportunities and aggressively managed our positions." The company had about $2.3 billion worth of write-downs linked to the credit and housing market crisis, but one of its best trading performances in history.

Morgan Stanley wrote down about $9.4 billion during last year's second half. Global banks and brokerages have so far claimed about $200 billion worth of write-downs since last year.

"While many of our businesses are facing challenging market conditions that we expect to continue in the months ahead, we are satisfied with how Morgan Stanley navigated the ongoing market turbulence," Mack said in a statement.

The company said it earned $1.53 billion after preferred dividends, or $1.45 per share, down 42% from $2.66 billion, or $2.17 per share, a year earlier. Revenue fell 17% to $8.3 billion from $10 billion a year earlier.

But the lower results easily topped analysts' expectations for a profit of $1.03 per share on $7.19 billion of revenue, according to Thomson Financial.

Its shares closed up 59 cents at $43.45, following a 17% gain in Tuesday's market rally.

Morgan Stanley's institutional securities business — which includes investment banking and trading — posted $6.2 billion of revenue. The results marked the division's third-best quarter ever.

Meanwhile, volatility in the bond market pushed fixed-income sales and trading revenue to their second-best showing with $2.9 billion of revenue.

Though offset by mortgage write-downs, Morgan Stanley relied on robust commodities and currency markets to drive results.

"We believe (Goldman and Morgan Stanley) have shown their ability to trade challenging markets this quarter," said Roger Freeman, an analyst with Lehman Brothers. "There is hope that the Federal Reserve's aggressiveness will begin to unclog the fixed-income markets. ... This could push the group still higher over the next few sessions."

Goldman Sachs, Lehman and Morgan Stanley said they began to test a new program this week that allows them to borrow directly from the central bank to help improve the financial market's liquidity. On Sunday the Fed gave investment banks permission to borrow from its discount window, which had previously been restricted to commercial banks.

The Fed also cut the rate at which financial institutions borrow at its "discount window" to 2.5 percent from 3.5 percent in two separate actions this week.

Though all seemed to be positive steps for Wall Street, that doesn't mean the concerns about the rest of the year have been alleviated.

The fiscal first-quarter for the three banks ended Feb. 29, before most of the market turbulence that rocked Bear Stearns last week. Investors are also still waiting for Merrill Lynch & Co. to finish its first quarter at the end of the month.

And then there's the biggest worry on investors' minds.

"We remain concerned with the deteriorating economy and its impact on the results at these firms, despite (the Fed's) aid with near-term funding," said Standard & Poor's equity analyst Matthew Albrecht.

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Modern and steady!

which stacks in park infinia are worth considering?

Before buying this property, one must bear in mind that the Novena area is going to be the next hospital hub. With the Tan Tock Seng Hospital, Ren Ci Hospital, Communicable Disease Center, Novena Hospital and upcoming Raffles Hospital etc etc., there are going to be more than 10 hospitals in the area. I always wonder if it is healthy to be surrounded by sick and diseased people all the time. The smell of death is very real. I would recommend you to look at perhaps Bukit Timah area, at least u get fresher air. But of course if you don't mind the hospital hub area, then go ahead.

Stack 4 and 14 is cheaper, if u not pan tang. Stack 14 quite worthwhile actually.

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Originally Posted by Unregistered

which stacks in park infinia are worth considering?

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Originally Posted by Unregistered

Before buying this property, one must bear in mind that the Novena area is going to be the next hospital hub. With the Tan Tock Seng Hospital, Ren Ci Hospital, Communicable Disease Center, Novena Hospital and upcoming Raffles Hospital etc etc., there are going to be more than 10 hospitals in the area. I always wonder if it is healthy to be surrounded by sick and diseased people all the time. The smell of death is very real. I would recommend you to look at perhaps Bukit Timah area, at least u get fresher air. But of course if you don't mind the hospital hub area, then go ahead.

Stack 4 and 14 is cheaper, if u not pan tang. Stack 14 quite worthwhile actually.

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OK, I will look at stack 14 then. Thanks.

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Originally Posted by Unregistered

OK, I will look at stack 14 then. Thanks.

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Smart move.

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Originally Posted by Unregistered

Everybody knows it is difficult to strike Toto 2nd prize what.

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Everybody knows it is difficult for PI to reach $1,000psf too.

Don't be lazy lah. Just view as many units as you can to find one u like....

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Originally Posted by Unregistered

OK, I will look at stack 14 then. Thanks.

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Got an offer of $1000psf for 4 rooms. mid floor. Any seller?

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Originally Posted by Unregistered

Got an offer of $1000psf for 4 rooms. mid floor. Any seller?

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No, thanks.

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Originally Posted by URA

Private Residential Property Transactions with Caveats Lodged

Project Name ............... Price .......... Floor Area . Price ........ Date Of Option
Park Infinia @ Wee Nam . $2,341,800 . 1,464sqft ... $1,600psf . Jan 08
Park Infinia @ Wee Nam . $1,358,000 .... 893sqft ... $1,520psf . Jan 08
Park Infinia @ Wee Nam . $2,278,360 . 1,442sqft ... $1,580psf . Jan 08
Park Infinia @ Wee Nam . $1,207,000 .... 850sqft ... $1,419psf . Jan 08
Park Infinia @ Wee Nam . $2,064,240 . 1,464sqft ... $1,410psf . Jan 08

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We prefer to transact at market rates.

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Originally Posted by Unregistered

We prefer to transact at market rates.

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March Transactions are different.

does anyone know if developer is launching the remaining units? any price indication? also, any idea what type of units? thank you!

Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

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Originally Posted by Unregistered

Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

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$1000psf also dont want.

I already hv calls from agents saying numerous units letting go at 1300psf and all sound desperate. This one can wait. TOP soon and some of the speculators are clearly panicking.

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Originally Posted by Unregistered

Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

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