8courtyards

[Xan]

Today developer increased list prices by 4% (!)
15% discount still applies but everything is 4% higher - translates to around 31k on average for 3 bedder. A new stack is released (non premium) but already 80% sold I think...

Sigh.... Typical FEO

[kingkong1984]

I tink only applies to new released stack

Phase 1 cheapest

Phase 2 not cheaper than cheapest

Phase 3 cheap

Phase 4 no longer cheap

Phase 5 most ex there. Keep the best for last.

[mantrix]

Sigh.... Typical FEO

What is non-typical is that they took away the buffet on the 2nd day!

[Xan]

What is non-typical is that they took away the buffet on the 2nd day!

Hmm, the selling price too low until the profit margin can't cover the buffet cost for whole weekend?

[Wild Falcon]

No lah. Wont have more cooling measures. In any case, the pricing is quite reasonable. Most of the upgraders in Yishun who bought their Yishun HDB flat cheap and fully paid will have no problem upgrading.

Haa, prob I'm the more pessimistic kind and worried with good sales along the way, there are more cooling measures.

Yap recently can't assess streetsine. I've posted this a few weeks back. Need some sub fee to view details. Thanks

[kaizhe]

The launch of 8 courtyard at low price has a few implications:
1) both the two rubies would be dead. 8 courtyard set a low benchmark. The price of two rubies can never exceed 700psf, given 8courtyard is new and comes with thematic concept and is launching now between 700+ psf.
2) developer aims to clear as fast and as many units as possible, thus result in good response from public and will be a sold out project.
3) from investment point of view, it should take more than 4 years for 8courtyard subsale to take place due to 4yrs SSD. Because the profit margin will be very little given that location and will not be able to cover the SSD, not even the 4th yr SSD. If for own stay, then no issue.
4) it will only make logical sense for 2 rubies to transact 100psf lesser than 8courtyard. If 8courtyard subsale lousy, then the 2 rubies can eat grass already. Which means while waiting for 8 courtyard subsale to take place after 4yrs, the transact price of the two rubies will be kept around 600+psf for four years.
To summarize, the launch of 8courtyard at that location with that kinda low price has inevitably restricted the price of the two rubies. If I'm the resident of either one ruby, I will be very worried. 8courtyard had sabo the two rubies. Unless the missing mrt is built there, then it's a diff game. Just my

u got a point here, but do u think that with 2 rubies attack the courtyard and courtyard counter-attack, the price will stuck at ard 700,800 psf, unable to move up? For example, rubies sell at ard 600psf, courtyard wan to sell at 900-1000psf, how the market will react? will the market use rubies to bargain the psf of courtyard?

[kaizhe]

sorry for posting a unrelated question here, but I believe many frequent forumers do look at this thread since this is one of the most recent launches this month...

Question: I noted recently that streetsine stopped providing the detailed unit transaction info. Does anyone know of any other FOC website that provides such info?

I have the access to realis, pm me if anyone needs the transaction details

[kingkong1984]

u got a point here, but do u think that with 2 rubies attack the courtyard and courtyard counter-attack, the price will stuck at ard 700,800 psf, unable to move up? For example, rubies sell at ard 600psf, courtyard wan to sell at 900-1000psf, how the market will react? will the market use rubies to bargain the psf of courtyard?

The description is wrong. Both rubies are friendly to 8. It is 8 who is not friendly to rubies. Rubies got along very well with one another and the design is almost similar to one another (off the same plan?). It is the new kid on the block that placed a cap. Spoilt market.

If 8 sells at 9xx psf, rubie will always be cheaper than it, got chance to hit 8xx psf.

If 8 sells at 8xx psf, rubies will always be cheaper than it, got chance to hit 7xx psf.

so if 8 sells for 7xx psf, rubies will continue to be cheaper than it. Only got chance to sell at 6xx psf.

if 8 sells for 6xxpsf, rubies no more.

[azeoprop]

could have bought a 2 bedder here for almost the same price as my waterfront isle 1 bedroom!

[Xan]

could have bought a 2 bedder here for almost the same price as my waterfront isle 1 bedroom!

Most pple might think that way but i beg to differ. The location are completely different. One comes with reservoir and mrt while 8 comes with nothing. It's like I bought 1 bedder the sail and I post my regret saying I could hv bought a penthouse instead in a suburb area. Both are same price.

[Xan]

u got a point here, but do u think that with 2 rubies attack the courtyard and courtyard counter-attack, the price will stuck at ard 700,800 psf, unable to move up? For example, rubies sell at ard 600psf, courtyard wan to sell at 900-1000psf, how the market will react? will the market use rubies to bargain the psf of courtyard?

Whether 8 courtyard can sell how much down the road I will not know. But certainly it is not a location to die for and I feel 700+psf to at most 800psf is still acceptable right now. The 2 rubies are not in control in the game, they hv to follow the price of 8courtyard. But 8 courtyard's potential is limited by it's location and it makes no sense to go up to 900psf in short term. Or maybe in short, I would hv thought 8courtyard price is controlled by both CR and estuary which r in better location. If CR and estuary cannot hit 1k psf, 8courtyard would stuck behind them forever.

In premier league context, @ yishun

Both Estuary and CR are division 1 team

8courtyard at division 2. (just becoz it is newest right now, but might relegate anytime when it is older due to poor location)

Orchid park condo at division 3 (better location but too old)

2 rubies are basically not in the league right now.

[Xan]

No lah. Wont have more cooling measures. In any case, the pricing is quite reasonable. Most of the upgraders in Yishun who bought their Yishun HDB flat cheap and fully paid will have no problem upgrading.

Yap, u got a point when in cases the price are reasonable. If not, if garment can't attack seller effectively, they will turn to target buyer. Simply by increasing the stamp duty.

[devilplate]

Most pple might think that way but i beg to differ. The location are completely different. One comes with reservoir and mrt while 8 comes with nothing. It's like I bought 1 bedder the sail and I post my regret saying I could hv bought a penthouse instead in a suburb area. Both are same price.

Isle take how long to walk to future mrt? Somehow not convince to hit under 10mins.....nxt time, tenants wud prefer key, den wave.... Den gold/isle if they dun drive.....

[mantrix]

The description is wrong. Both rubies are friendly to 8. It is 8 who is not friendly to rubies. Rubies got along very well with one another and the design is almost similar to one another (off the same plan?). It is the new kid on the block that placed a cap. Spoilt market.

If 8 sells at 9xx psf, rubie will always be cheaper than it, got chance to hit 8xx psf.

If 8 sells at 8xx psf, rubies will always be cheaper than it, got chance to hit 7xx psf.

so if 8 sells for 7xx psf, rubies will continue to be cheaper than it. Only got chance to sell at 6xx psf.

if 8 sells for 6xxpsf, rubies no more.

you are all wrong. Ruby is another type of semi-precious stone. Sapphire, Emerald, belong to that category too.

I was thinking 8Courtyards might be called Yishun Ruby cos they already have sapphire (blue), emerald (green) so they need ruby (red) - then blue green red which forms the basic components of color for your TV.

You should refer to Yishun Sapphire and Yishun Emerald as the other jewels instead

[yyly1327]

Althong the rubies are not in demand now, but the size of the development is just nice around 400+ units. 8CY with 654 units you can anticipate alot of complains kings and queens living in it.

Went to see 8CY on Saturday...very tempted to buy, those who bought Canopy must to banging the walls now.

[yyly1327]

just got sms from the agent... 15% discount reduced to 14%...

[mantrix]

Althong the rubies are not in demand now, but the size of the development is just nice around 400+ units. 8CY with 654 units you can anticipate alot of complains kings and queens living in it.

Went to see 8CY on Saturday...very tempted to buy, those who bought Canopy must to banging the walls now.

Huh? Canopy owners enjoy government rebate + launch price was relatively cheap (less than 700psf)
If you compare location to location I dare say Canopy is better since amenities are next door.

If you compare the fact that Canopy owners need MOP of 5 years then 8CY also around the same...4 years of SSD anyways so can't flip...

[chiaberry]

Marketing strategy. Launch low, many ppl buy, raise prices, ppl rush to buy again thinking that next launch will raise prices even more. haha seems to work every time.

[devilplate]

Huh? Canopy owners enjoy government rebate + launch price was relatively cheap (less than 700psf)
If you compare location to location I dare say Canopy is better since amenities are next door.

If you compare the fact that Canopy owners need MOP of 5 years then 8CY also around the same...4 years of SSD anyways so can't flip...

Mop starts from TOP .... Whr got same.....3yrs waiting for TOP+5yrs MOP....8yrs cannot invest in another ppty!!!

[devilplate]

Marketing strategy. Launch low, many ppl buy, raise prices, ppl rush to buy again thinking that next launch will raise prices even more. haha seems to work every time.

Far east project 1st phase buyer usually a winner....

[dh]

Hi Everyone,

I have one query in mind. When i was talking to the banker at the 8courtyard launch, i was enquiring on loan amt eligibility.

Since i still serving existing loan, i be taking 60% loan for the new purchase.

Immed she told me its a 60% loan, thus no need to review my income ....

Err, is this the norm? applicable to most banks? Should I check again before commiting to any property purchase?

Thanks.

[casperwestie]

Hi Everyone,

I have one query in mind. When i was talking to the banker at the 8courtyard launch, i was enquiring on loan amt eligibility.

Since i still serving existing loan, i be taking 60% loan for the new purchase.

Immed she told me its a 60% loan, thus no need to review my income ....

Err, is this the norm? applicable to most banks? Should I check again before commiting to any property purchase?

Thanks.

For a 2nd property, max loan is 60%. The bank's risk is substantially lesser if compared to someone taking a 80% loan. If you are still working and young, and taking max repayment period, the bank's requirement for min annual income is quite low (compared to a 80% loan). That is why you may have the impression like they don't need to review your income. Still it is best to have the bank officer assess based on your proof of income etc.

[Xan]

Althong the rubies are not in demand now, but the size of the development is just nice around 400+ units. 8CY with 654 units you can anticipate alot of complains kings and queens living in it.

Went to see 8CY on Saturday...very tempted to buy, those who bought Canopy must to banging the walls now.

Yap, the quantum is low and frankly speaking If I got the $$ I will also be
tempted to buy even though location jia lat, better than put money in the banks for 4 years. Too bad $$ still stuck in some loans in some properties. Cannot afford to pay 40% upfront.
No matter what, u can't compare canopy and 8CY. One is EC and one is private. 8CY with this kinda price still beat canopy.

[bargain hunter]

when u pay 40% upfront, there is no need to review income because the risk to the bank is very low. Before the cooling measures, if someone elects to put 40% downpayment, also means no need to review income so it is not new and it is common.

Hi Everyone,

I have one query in mind. When i was talking to the banker at the 8courtyard launch, i was enquiring on loan amt eligibility.

Since i still serving existing loan, i be taking 60% loan for the new purchase.

Immed she told me its a 60% loan, thus no need to review my income ....

Err, is this the norm? applicable to most banks? Should I check again before commiting to any property purchase?

Thanks.

[linchong84]

Althong the rubies are not in demand now, but the size of the development is just nice around 400+ units. 8CY with 654 units you can anticipate alot of complains kings and queens living in it.

Went to see 8CY on Saturday...very tempted to buy, those who bought Canopy must to banging the walls now.

EC buyers are people who earn less than 10k a mth.. majority are first timers ie they are young and don't have much cpf or cash.. So they buy to stay there for at least 5-10 years.. since canopy is cheaper by 100-150psf, and they dun intend to sell it soon, the MOP shouldn't be a concern to them.. and given their profile, high chance they empty their cpf and a lot of savings to buy canopy, so they are unlikely to be able to afford to buy another property within the next 10 years, so they wun regret buying EC which is significantly cheaper but offering the same deal.. the constraints with EC dun really affect the majority of them..

[Xan]

EC buyers are people who earn less than 10k a mth.. majority are first timers ie they are young and don't have much cpf or cash.. So they buy to stay there for at least 5-10 years.. since canopy is cheaper by 100-150psf, and they dun intend to sell it soon, the MOP shouldn't be a concern to them.. and given their profile, high chance they empty their cpf and a lot of savings to buy canopy, so they are unlikely to be able to afford to buy another property within the next 10 years, so they wun regret buying EC which is significantly cheaper but offering the same deal.. the constraints with EC dun really affect the majority of them..

Hmm, not really true. A person with household income of 9k can still afford 8CY and hold it for 4 years after which he can sell it off with some profit. Canopy buyers need to wait for total of at least 8 to 9 years before they can sell it off. Why I know because I belong to those group with income less than 10k but bought my first property and stayed awhile and sell it off with some profit. The 5 years MOP matters to me a lot.

[mantrix]

U did the right thing...

[linchong84]

Hmm, not really true. A person with household income of 9k can still afford 8CY and hold it for 4 years after which he can sell it off with some profit. Canopy buyers need to wait for total of at least 8 to 9 years before they can sell it off. Why I know because I belong to those group with income less than 10k but bought my first property and stayed awhile and sell it off with some profit. The 5 years MOP matters to me a lot.

Yah 9k sure can afford condo.. What i meant is canopy buyers are mostly people who dun buy it for investment reasons.. so they wun regret as they dun really care abt the MOP.. they just want a condo environment in yishun to stay.. so since it's cheaper, why should they regret..

Even for people who want to make appreciation gains after 4-5 years, i feel courtyard definitely rank among the last.. property is all abt location, if location cui, the appreciation is really slow and limited.. if like you say buy and sell after SSD is over for gains, might as well buy the bedok waterfront projects or other projects that are beside future mrt station.. those are the ones that will shoot up more when the station is opened..

i still believe majority of people who bought 2 bedder and above in courtyard and canopy buy to stay and not to flip.. if it is to stay, i really dun see why courtyard is better.. maybe people buy becos their income exceed 10k so suck thumb.. if it is to flip, choose courtyard is really ... if it is for rental, perfectly good cos their 1 bedder 400+k only..

[amk]

April is going to be a record month.
Look at all the new projects. Just saw another major one in hougang.
all the GLS sites sold last yr are coming on line now. This 8 thing is not even from the GLS!

[dtrax]

Hi Everyone,

I have one query in mind. When i was talking to the banker at the 8courtyard launch, i was enquiring on loan amt eligibility.

Since i still serving existing loan, i be taking 60% loan for the new purchase.

Immed she told me its a 60% loan, thus no need to review my income ....

Err, is this the norm? applicable to most banks? Should I check again before commiting to any property purchase?

Thanks.

This is called asset-based loan. yes mostly 60% LTV no need review income but did the banker tell you they need to review to see if you have assets to pay off the loan? For example, they need to make sure you have the means to pay $X amount of loan u r taking for the next 24months at a 3.8% (upper range) which can be in terms of your bank statements, other assets n stuff