TeresaVille

I recently experienced first hand the still existing stiff competitok for condos.

I had earlier expressed strong interest in teresaville as I stay near that area with existing parents support for my kid. Recently a 1355 square feet condo came up and i went for viewing. It was madness like queueing up for free gift. So many people were there looking around.

I did my sums prudently and went for 2nd viewing the very next week. It was a Saturday. I called up the agent to make an offer on the immediate Sunday. It was already sold.

So the property was up for listing, and sold within 2 weeks. Apparently it hit the desired price of the seller which I presume is not low.

Mind you, I was a direct buyer and hence seller agent not not co broke. But he had to take up the other offer as it was good and it was heard that the potential buyer just dropped a cheque within 5 mins of viewing.

This is a personal experience of how PCs are still so hot. It's a very old 20 year plus condo not walking distance within mrt ... I though my chances are good to secure .... Omg ... How wrong was I .... Thwarted yet again

Mind sharing the psf?
All big units so quantum not so small.

Yah, do you mind sharing the psf asking / transacted?

I was interested in Theresaville a long time ago when I was looking at my first ppty. I remember someone told me you need to be careful which block u buy, cos at least 1 of the blocks have serious water piping problems.

Hmmm, for my case, i have seen several units in different developments in the past 2 months but up to date, i still see the units being listed in property guru/classifieds.

It's one of the rare 13xx square feet smaller ones not the bigger 19xx square feet ones. Which is why its rare and I checked URA caveat only average one such unit for sale every year.

The Psf for that particular unit averages around 1288 Psf thereabouts I think which is acceptable to me given its freehold and definitely as en bloc potential since 2 en bloc attempts failed.

Water piping probably not a big issue since most buyers will do major overhaul renovation. That's at least what I would do.

It's block 1003 - the block nearest the road and nearest the entrance - any water piping problems with that block then? I realised most of the 13xx square feet smaller units is located at that stack

teresa ville is 4 stacks for each of the 3 blocks. 3 stacks are all 3+study (or can call it 4 bedroom) 1927, 1959 and 1981 sq ft each. the remaining stack is a 2+study (some have managed to convert into 3 bedroom) of 1356 sq ft.

the most recent caveat for the 1356 sq ft units is for #20-01 of block 1003 at 1.68m, 1239psf. i assume this is not the unit which TS viewed? if this more recent unit is sold for 1288psf then it will be a record psf for this project. as TS said, 1.75m is still reasonable if this unit is/can be converted to a 3 bedder, hence many keen buyers.

i viewed the block 1005 #09-02 1356 sq ft unit when it was put up for sale at 1.55m in may/jun 2012. the viewing is similar to what TS has described and that was a weekday night. it was renovated and converted into a 3 bedder. it was eventually sold for 1.528m.

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Originally Posted by bargain hunter

teresa ville is 4 stacks for each of the 3 blocks. 3 stacks are all 3+study (or can call it 4 bedroom) 1927, 1959 and 1981 sq ft each. the remaining stack is a 2+study (some have managed to convert into 3 bedroom) of 1356 sq ft.

the most recent caveat for the 1356 sq ft units is for #20-01 of block 1003 at 1.68m, 1239psf. i assume this is not the unit which TS viewed? if this more recent unit is sold for 1288psf then it will be a record psf for this project. as TS said, 1.75m is still reasonable if this unit is/can be converted to a 3 bedder, hence many keen buyers.

i viewed the block 1005 #09-02 1356 sq ft unit when it was put up for sale at 1.55m in may/jun 2012. the viewing is similar to what TS has described and that was a weekday night. it was renovated and converted into a 3 bedder. it was eventually sold for 1.528m.

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Coincidentally I went to see the 20th floor sometime back as well. Before I could offer it was sold off also ... Quite poorly maintained as it was tenanted out to a number of students and all

The 13xx square feet confirm can do up 2+1. In fact, I took the floor plan and went to ID for preliminary assessment and the draft sketch he had for me can do potential 2+2 even - combine dining and living together in the upper deck, do open concept island kitchen, can do up a study and another small guest room also at the precious dining. Lots of possibilities if you ask me

so i guess the recent unit which u saw was more attractive, hence can sell at higher price?

and so, there u have it. why this particular unit is so hot.

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Originally Posted by danguard

Coincidentally I went to see the 20th floor sometime back as well. Before I could offer it was sold off also ... Quite poorly maintained as it was tenanted out to a number of students and all

The 13xx square feet confirm can do up 2+1. In fact, I took the floor plan and went to ID for preliminary assessment and the draft sketch he had for me can do potential 2+2 even - combine dining and living together in the upper deck, do open concept island kitchen, can do up a study and another small guest room also at the precious dining. Lots of possibilities if you ask me

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Originally Posted by danguard

I recently experienced first hand the still existing stiff competitok for condos.

I had earlier expressed strong interest in teresaville as I stay near that area with existing parents support for my kid. Recently a 1355 square feet condo came up and i went for viewing. It was madness like queueing up for free gift. So many people were there looking around.

I did my sums prudently and went for 2nd viewing the very next week. It was a Saturday. I called up the agent to make an offer on the immediate Sunday. It was already sold.

So the property was up for listing, and sold within 2 weeks. Apparently it hit the desired price of the seller which I presume is not low.

Mind you, I was a direct buyer and hence seller agent not not co broke. But he had to take up the other offer as it was good and it was heard that the potential buyer just dropped a cheque within 5 mins of viewing.

This is a personal experience of how PCs are still so hot. It's a very old 20 year plus condo not walking distance within mrt ... I though my chances are good to secure .... Omg ... How wrong was I .... Thwarted yet again

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aiyo 1 unit sold out of few hundred in the whole singapore cannot say condo market still hot lah. I put up one CCR condo for sale at $1 you will see a queue forming for miles. :D Rare places with attractive attributes, with a reasonable price will usually sell.

Given what you say, do you think there is significant en bloc potential in a 10 year horizon? Sounds like a lot of the buyers buy for own stay or have sunk in significant amounts into reno, so less likely to en-bloc?

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Originally Posted by bargain hunter

teresa ville is 4 stacks for each of the 3 blocks. 3 stacks are all 3+study (or can call it 4 bedroom) 1927, 1959 and 1981 sq ft each. the remaining stack is a 2+study (some have managed to convert into 3 bedroom) of 1356 sq ft.

the most recent caveat for the 1356 sq ft units is for #20-01 of block 1003 at 1.68m, 1239psf. i assume this is not the unit which TS viewed? if this more recent unit is sold for 1288psf then it will be a record psf for this project. as TS said, 1.75m is still reasonable if this unit is/can be converted to a 3 bedder, hence many keen buyers.

i viewed the block 1005 #09-02 1356 sq ft unit when it was put up for sale at 1.55m in may/jun 2012. the viewing is similar to what TS has described and that was a weekday night. it was renovated and converted into a 3 bedder. it was eventually sold for 1.528m.

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Originally Posted by bargain hunter

so i guess the recent unit which u saw was more attractive, hence can sell at higher price?

and so, there u have it. why this particular unit is so hot.

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not sure whether it is more attractive. The factors are as follows:

(1) lower flr than the 20th flr, although same stack

(2) better maintained - but if buyer intend to overhaul reno then this is a moot point

(3) asking price higher than 1.68. Not sure the final transacted price as Seller's agent not telling me. And I cannot compel him to tell me also

The attraction I see is the same as the 20th flr previous one - great potential for 2 plus 2 rooms with overhaul renovation costing nearing 110K or more (if really replace all marble and timber flooring) also

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Originally Posted by mosaic

aiyo 1 unit sold out of few hundred in the whole singapore cannot say condo market still hot lah. I put up one CCR condo for sale at $1 you will see a queue forming for miles. :D Rare places with attractive attributes, with a reasonable price will usually sell.

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went to see Starville (the other end of the spectrum) - also relatively good response. I was the 3rd viewer on saturday.

Harbourlights recently got one new one (with price to ask) went to see also have a few viewers then suddenly the ad is gone already - not sure whether this means the house is already sold or seller last min pull out.

True not a good gauge of market sentiment basis my own personal experience alone..... but i only want to aim a few very selective developments and those I aimed have quite a considerable number of viewers .... but at the end of the day, viewing is free no need marnee also until it is really closed .... then back to square 1 for me again i guess

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Originally Posted by starrynight

Given what you say, do you think there is significant en bloc potential in a 10 year horizon? Sounds like a lot of the buyers buy for own stay or have sunk in significant amounts into reno, so less likely to en-bloc?

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on this point I can attest to the considerable number of recent buyers with overhaul renovation. I can see from the facade itself, a significant number of units with tinted blue windows and white casings - those the MCST informed me are the renovated recently ones.

Quite a number of them around the development as well. As the composition of buyers changes from the first original to recent ones - en bloc seems further and further away since new buyers will obviously not want it to happen anytime soon since they want to stay at least 10 years or more. Unless en bloc offer is that attractive which to be honest I do not expect it in the near term horizon though :cool:

en-bloc or not is a tough call for any project under current rules. 10 years time if various factors fall in place, anyway project also has a chance of being en-bloc. LOL.

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Originally Posted by starrynight

Given what you say, do you think there is significant en bloc potential in a 10 year horizon? Sounds like a lot of the buyers buy for own stay or have sunk in significant amounts into reno, so less likely to en-bloc?

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Originally Posted by danguard

I recently experienced first hand the still existing stiff competitok for condos.

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Since you already researched condos in the area which is near to your parents, when you see one available that is suitable, do not hesitate and bring a cheque along. For you, it's for own stay, therefore will be a medium to long term holding so don't fret too much over whether you are buying too high etc etc. The advantages for you in terms of having enough space and being close to parents will outweigh those considerations. People are now waking up to the fact that older condos have more physical space and car parking space. And deteriorating plumbing etc can be solved eventually (although it may take time if unit above is leaking - jialat). If you are going to renovate, the condition doesn't matter since you are going to tear it down anyway.

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Originally Posted by chiaberry

Since you already researched condos in the area which is near to your parents, when you see one available that is suitable, do not hesitate and bring a cheque along. For you, it's for own stay, therefore will be a medium to long term holding so don't fret too much over whether you are buying too high etc etc. The advantages for you in terms of having enough space and being close to parents will outweigh those considerations. People are now waking up to the fact that older condos have more physical space and car parking space. And deteriorating plumbing etc can be solved eventually (although it may take time if unit above is leaking - jialat). If you are going to renovate, the condition doesn't matter since you are going to tear it down anyway.

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Have to wake up and be open to old condo possibilities as Psf is a lot motor attractive and when compared to harbourlights (1560 Psf), reflections (99 leasehold at 1700 Psf) and carribean (99 leasehold almost about 1600 Psf thereabouts also) alessandrea (freehold at 1500 Psf) - think this is a decent buy although one must acknowledge the Psf is slightly lower for a reason - nt near mrt, near expressway and busy road, not near cinema or even good centers need to walk a bit

Baby boomers and retirees generally prefers FH condos never mind the proximity to the train station coz they have time. It is also sitting on one of the largest plot of FH land within the 5km radius of the city centre which is a unique selling point against its younger neighbouring condos which are 99LH.

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Originally Posted by desirenlure

Baby boomers and retirees generally prefers FH condos never mind the proximity to the train station coz they have time. It is also sitting on one of the largest plot of FH land within the 5km radius of the city centre which is a unique selling point against its younger neighbouring condos which are 99LH.

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Never knew about this though. Guess I learn something new everyday :D

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Originally Posted by danguard

went to see Starville (the other end of the spectrum) - also relatively good response. I was the 3rd viewer on saturday.

Harbourlights recently got one new one (with price to ask) went to see also have a few viewers then suddenly the ad is gone already - not sure whether this means the house is already sold or seller last min pull out.

True not a good gauge of market sentiment basis my own personal experience alone..... but i only want to aim a few very selective developments and those I aimed have quite a considerable number of viewers .... but at the end of the day, viewing is free no need marnee also until it is really closed .... then back to square 1 for me again i guess

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Hi danguard

I saw a Harbourlight recent transaction of a 1173sq ft at $1347psf. Is this the unit u viewed?

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Originally Posted by yeo

Hi danguard

I saw a Harbourlight recent transaction of a 1173sq ft at $1347psf. Is this the unit u viewed?

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This one think I viewed before as well. Should be the 4th floor one corner unit but facing not good as right in front of the expressway for the windows

im not a fan of teresaville.

pros:
1. near to city, no doubt.
2. near to major expressways, thus convenient if one drives.
3. large, freehold land.

cons:
1. old project, very old.
2. too near to expressways. you're literally living beside it
3. not near existing mrts. not near future mrts. not even within walking distance.
4. no amenities nearby!! none at all. too far from telok blangah crescent market. i think this is worst thing about this project.

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Originally Posted by clemdale24

im not a fan of teresaville.

pros:
1. near to city, no doubt.
2. near to major expressways, thus convenient if one drives.
3. large, freehold land.

cons:
1. old project, very old.
2. too near to expressways. you're literally living beside it
3. not near existing mrts. not near future mrts. not even within walking distance.
4. no amenities nearby!! none at all. too far from telok blangah crescent market. i think this is worst thing about this project.

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Your point 4 I fully agree. That's why the lower comparatively Psf compared to nearby condos is there. It's a sore point but exactly why the Psf is substantially different compared to those condos as well I reckon.

But for that Psf for a full facilities condo and parking all on level floor and spacious (compared to Alessandrea nightmare parking space) and I dun see the balcony when I stand in my balcony (compared to iridium at newton), with the expectation of overhaul renovation at least to replace all pipings and retain floorings to the extent possible with patching and polishing instead of hacking and replacing in its entirely - makes for a nice pleasant stay I think.


Another CON - the balcony is weirdly big and connects the room and master room. It is long and curved at odd shapes. Most people do renovation to extend flooring all the way up to balcony area and remove the balcony altogether. All units on entering seem to have short staircase from living to dining area - why cannot combine into one big more livable space ? 2 doors one in front and 1 at kitchen area - why? Security issue as well

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Originally Posted by danguard

This one think I viewed before as well. Should be the 4th floor one corner unit but facing not good as right in front of the expressway for the windows

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Oic. Wish u all the best in your property-hunting.