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  1. #341
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    Quote Originally Posted by Allthepies View Post
    Skysuites first batch receive keys on mid-Jan 2015, so need some time. Altez and 76 Shenton received TOP 4-6 months earlier.
    Today ST quoted one agent claiming no rental for this condo's 2 bedder for 2months and asking rental dropped from 3.9k to 3.5k and still no takers

    maybe that might explain the small no of rental take up

    But quite surprised by the report,

    This is quite an iconic brand new condo, MRT, Mall, Eateries, CBD all at doorstep

    Imagine those condos with no mrt, no mall, no eateries, far away at outskirts, what will happen to their rental?

  2. #342
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    Quote Originally Posted by Newbie1 View Post
    Today ST quoted one agent claiming no rental for this condo's 2 bedder for 2months and asking rental dropped from 3.9k to 3.5k and still no takers

    maybe that might explain the small no of rental take up

    But quite surprised by the report,

    This is quite an iconic brand new condo, MRT, Mall, Eateries, CBD all at doorstep

    Imagine those condos with no mrt, no mall, no eateries, far away at outskirts, what will happen to their rental?
    A few possible reasons. But really not too sure why...

    1. Maybe size too small for the rent offered? For 3.5K can get a 3BR or 4BR at the outskirts quite easily - easier for a medium sized family or a few tenants to share?

    2. Maybe the existing supply in this region already catered extremely well for the much touted group of renting lawyers and bankers who don't own cars?

    3. OCR houses many good schools and a much broader range of employment opportunities in vicinity?

    4. Maybe an increasing group has decided that owning cars and working / travelling in the outskirts is much more cost-effective?

    More data is needed to be sure. Today ST also has a report that Far East Plaza is struggling. Can you imagine so close to Orchard and so iconic, and yet...
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #343
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    Been to view previously. thought the 2 bedder quite is nice and spacious and suitable for single or couple

    Those fellow viewers I saw all looked like professionals, no children. so your point 2 is a more likely scenario

    Having said that just checked URA, rentals for their 2 bedder in March were all done bet 4 to 4.5k and compatible with asking prices in ppty guru

    Wonder if the problem lies with that unit (facing) or agent. up to 1k lower than last done and still no takers for brand new unit?

    rare for agents to on papers claiming drastic drop in rentals but still no takers.




    Quote Originally Posted by Kelonguni View Post
    A few possible reasons. But really not too sure why...

    1. Maybe size too small for the rent offered? For 3.5K can get a 3BR or 4BR at the outskirts quite easily - easier for a medium sized family or a few tenants to share?

    2. Maybe the existing supply in this region already catered extremely well for the much touted group of renting lawyers and bankers who don't own cars?

    3. OCR houses many good schools and a much broader range of employment opportunities in vicinity?

    4. Maybe an increasing group has decided that owning cars and working / travelling in the outskirts is much more cost-effective?

    More data is needed to be sure. Today ST also has a report that Far East Plaza is struggling. Can you imagine so close to Orchard and so iconic, and yet...

  4. #344
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    April Update:

    SkySuites: 80 (1bedder $2500 to $4000)
    Altez: 232
    76 Shenton: 168

  5. #345
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    Anyone went to the relaunch yesterday? Heard from a few of my agent friends that the sales yesterday was disappointing. Couldn't move much units despite using the usual "balloting" tricks, queuing up to know the price and forcing you to make decisions on the spot.

  6. #346
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    since the targeted market is investor, it's hard to compete with the neighbor like Icon.
    Icon is older by 10 years but very well maintained with modern-look. Has more comfortable size unit, great swimming pool, half maintenance fee (150 for icon, 300 for sky despite icon size is 60% larger), a good reputation for rental market.

  7. #347
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    Thought relaunched a few years ago.

    Still relaunching again?

    There are still some very low and very high floor units for sale

    The unique 72th floor 360 open view and free carpark slot are most attractive for this condo

    Just seen the marketing ads

    The average rental for their sea facing 1 room units in june on URA around 3k

    Their advert price starts at 8xxk, so decent yield still in today's market even at 1m



    Quote Originally Posted by thomastansb View Post
    Anyone went to the relaunch yesterday? Heard from a few of my agent friends that the sales yesterday was disappointing. Couldn't move much units despite using the usual "balloting" tricks, queuing up to know the price and forcing you to make decisions on the spot.

  8. #348
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    Quote Originally Posted by Singleton View Post
    Thought relaunched a few years ago.

    Still relaunching again?

    There are still some very low and very high floor units for sale

    The unique 72th floor 360 open view and free carpark slot are most attractive for this condo

    Just seen the marketing ads

    The average rental for their sea facing 1 room units in june on URA around 3k

    Their advert price starts at 8xxk, so decent yield still in today's market even at 1m
    Unless you are looking at very high floors, this development has tough competition around. It is not really a mixed development (5 shops) which sets it back. Wallich Residence should be quite interesting to compare with this.

  9. #349
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    Cannot compare the two because quantum vastly different, Wallich minimum close to 2m, skysuites starts at 8xx

    Based on URA data, skysuites rental for 1 room 3k, can Wallich 1 room rent out for 6k?

    Think the newer ones such as EON and V on shenton are closer competitors

    With new shorter rental ruling, generally these CBD condos will probably benefit

    Agree that so much competition around

    Quote Originally Posted by PropVestor View Post
    Unless you are looking at very high floors, this development has tough competition around. It is not really a mixed development (5 shops) which sets it back. Wallich Residence should be quite interesting to compare with this.

  10. #350
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    Totally not comparable. One is a MM purely for rental yield. One is targeting at a different group of buyers. A studio there is > 2M. That exclude 99% of buyers easily.


    Quote Originally Posted by PropVestor View Post
    Unless you are looking at very high floors, this development has tough competition around. It is not really a mixed development (5 shops) which sets it back. Wallich Residence should be quite interesting to compare with this.

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