Tanah Merah MRT GLS sold at 676 psf

**phantom_opera** · 31-07-12, 17:26

1 Fragrance Group Limited and World Class Land Pte Ltd 285,215,000.00 7,276.64

676psf !!!!!

Huat ah !!! FEO submitted 550psf bid ... good defense but is TOTALLY unnecessary

http://www.ura.gov.sg/pr/graphics/2012/pr12-82a.pdf

**carbuncle** · 31-07-12, 17:34

MM mmmmmmmmmm cometh to Tanah MMerahhhh

No 1350psf no sell!!!

**phantom_opera** · 31-07-12, 17:35

The land price same as the price Casa Merah was sold and during early 2009

Inflation X 2 already

An Urban Redevelopment Authority tender for a 99-year leasehold private housing site near Tanah Merah MRT Station has attracted 13 bids.
The top bid, from a joint venture between Fragrance Group Limited and World Class Land, was $285.215 million or about $676 per square foot per plot ratio. The top bid was 1.8 per cent higher than the next highest bid of $280.1 million from Areca Investment.
The lowest bid, from Trident Assets, was $202 million.
Other bidders at the tender include City Developments, Keppel Land, Sing Holdings, Far East Orchard Limited (bidding joint with Frasers Centrepoint and Sekisui House), Hoi Hup, and Overseas Union Enterprise.

**terrynfs** · 31-07-12, 17:48

676

then i will go for jurong east

**Vincegoh** · 31-07-12, 17:53

Originally Posted by carbuncle

MM mmmmmmmmmm cometh to Tanah MMerahhhh

No 1350psf no sell!!!

congrats congrats..

**carbuncle** · 31-07-12, 17:59

Time to start the fun of guessing the project name again!

Parc Merah
TM Suites
TM Grandeur
TM Regency
The Kechil
Le Merah
Merah Suites
Merah Grandeur

**blackpepperj** · 31-07-12, 18:04

What will the breakeven price be? $1200psf?

**blackpepperj** · 31-07-12, 18:06

Originally Posted by carbuncle

Time to start the fun of guessing the project name again!

Parc Merah
TM Suites
TM Grandeur
TM Regency
The Kechil
Le Merah
Merah Suites
Merah Grandeur

Tanah Merah Residences
Suites @ Tanah Merah
Sky Habitat Mark II

**phantom_opera** · 31-07-12, 18:23

The KukuBird

(we have one in this forum)

**kane** · 31-07-12, 18:27

Wah, this is madness. They are probably going to build a bunch of 1 bed and 2 beds.

**ilgr** · 31-07-12, 18:37

Originally Posted by kane

Wah, this is madness. They are probably going to build a bunch of 1 bed and 2 beds.

i also say so. the 1bedders confirm face the mrt. winning bid is too high. even at casa merah and east meadows, it is too noisy hearing the trains every 3 mins, whats more this one is smack in front of mrt. guess location to mrt is perfect and near bedok, but other than that there's nothing much in the area.

**phantom_opera** · 31-07-12, 18:39

Originally Posted by ilgr

i also say so. the 1bedders confirm face the mrt. winning bid is too high. even at casa merah and east meadows, it is too noisy hearing the trains every 3 mins, whats more this one is smack in front of mrt. guess location to mrt is perfect and near bedok, but other than that there's nothing much in the area.

it is lacking of Hotel 88

**Clim1688** · 31-07-12, 19:23

This shud be d16 thread

**azeoprop** · 31-07-12, 19:38

Most probably will be a parc rosewood cut and paste to this plot and launch before Dec this year.

**Allthepies** · 31-07-12, 19:38

fragrance...ha ha mickeymouse, waste of time

**Mr.Keh** · 31-07-12, 19:38

676 plus 400 construction costs = about 1100 psf breakeven. At this price and location, the developer would have no choice but to launch MM units alr.

**azeoprop** · 31-07-12, 19:40

Originally Posted by phantom_opera

The land price same as the price Casa Merah was sold and during early 2009

Inflation X 2 already

An Urban Redevelopment Authority tender for a 99-year leasehold private housing site near Tanah Merah MRT Station has attracted 13 bids.
The top bid, from a joint venture between Fragrance Group Limited and World Class Land, was $285.215 million or about $676 per square foot per plot ratio. The top bid was 1.8 per cent higher than the next highest bid of $280.1 million from Areca Investment.
The lowest bid, from Trident Assets, was $202 million.
Other bidders at the tender include City Developments, Keppel Land, Sing Holdings, Far East Orchard Limited (bidding joint with Frasers Centrepoint and Sekisui House), Hoi Hup, and Overseas Union Enterprise.

Should have bought casa merah and optima....Those Q overnight at optima last time their efforts have paid off.

**bakasa2002** · 31-07-12, 20:36

Piangz!!! Fragrance go kuku already??? Congrats to all Optima and Casa Merah 1/2br owners, no $1400psf no sell... I think the knockoff effect on Eco be really huge... Heard that feo waiting for this result to price their Eco...

**mantrix** · 31-07-12, 20:41

in the past, the price push was from central region, ie CCR would set record prices and that increase will spread out in a ripple effect to the suburbs.

Nowadays it's the reverse, expensive suburban areas pushing prices up towards the centre...

**ilgr** · 31-07-12, 20:57

Originally Posted by bakasa2002

Piangz!!! Fragrance go kuku already??? Congrats to all Optima and Casa Merah 1/2br owners, no $1400psf no sell... I think the knockoff effect on Eco be really huge... Heard that feo waiting for this result to price their Eco...

er knockoff effect only if this new mickey mouse development sells..

**azeoprop** · 31-07-12, 20:59

Originally Posted by mantrix

in the past, the price push was from central region, ie CCR would set record prices and that increase will spread out in a ripple effect to the suburbs.

Nowadays it's the reverse, expensive suburban areas pushing prices up towards the centre...

This kind of price bubble will be difficult to explode....and if really explode, it will bring down the whole of Singapore with it because it is the common folks living in the suburbs that will suffer.

The effects will be similar to the long period of price increase in the 90s which ended with the '97 asian financial crisis.

e.g.:
http://www.squarefoot.com.sg/trends-...elanting-green

1996 bought brand new 741psf, only managed to sell 886psf in 2012. In between transactions dropped to a low of 411psf in 2005.

**blackpepperj** · 31-07-12, 20:59

Originally Posted by bakasa2002

Piangz!!! Fragrance go kuku already??? Congrats to all Optima and Casa Merah 1/2br owners, no $1400psf no sell... I think the knockoff effect on Eco be really huge... Heard that feo waiting for this result to price their Eco...

Bro, Optima 1 bdrs are already transacting at more than $1400 psf

**ilgr** · 31-07-12, 21:04

Originally Posted by blackpepperj

Bro, Optima 1 bdrs are already transacting at more than $1400 psf

sad... 700k for 484 square feet of space...

**phantom_opera** · 31-07-12, 21:09

No no no, this time is different from 1997.... condo dweller has median income of 14.5k including employer CPF, that means borrowing 1 million is no sweat, Optima 484sqft 1445psf only 700k is a peanut for such household. Back in 1997 kopi was 50 cents, now kopi is $1 in kopitiam and $1.60 in ToastBox .... in 1997 5kg Royal Umbrella was probably $5 and now is $15 ... how to compare nia?

Bill Gross: "The Cult Of Equity May Be Dying, But The Cult Of Inflation May Only Have Just Begun"

If Bill Gross is right, there will be QE10 5y down the road, inflation has just begun

**ilgr** · 31-07-12, 21:18

Originally Posted by phantom_opera

No no no, this time is different from 1997.... condo dweller has median income of 14.5k including employer CPF, that means borrowing 1 million is no sweat, Optima 484sqft 1445psf only 700k is a peanut for such household. Back in 1997 kopi was 50 cents, now kopi is $1 in kopitiam and $1.60 in ToastBox .... in 1997 5kg Royal Umbrella was probably $5 and now is $15 ... how to compare nia?

Bill Gross: "The Cult Of Equity May Be Dying, But The Cult Of Inflation May Only Have Just Begun"

If Bill Gross is right, there will be QE10 5y down the road, inflation has just begun

i meant paying 700k for a such a small living space is sad. im just against MM units. majority of gardens/backyards in landed property already more than 484sqft. to put it into perspective, its less than 5 parking lots...

**azeoprop** · 31-07-12, 21:29

Originally Posted by phantom_opera

No no no, this time is different from 1997.... condo dweller has median income of 14.5k including employer CPF, that means borrowing 1 million is no sweat, Optima 484sqft 1445psf only 700k is a peanut for such household. Back in 1997 kopi was 50 cents, now kopi is $1 in kopitiam and $1.60 in ToastBox .... in 1997 5kg Royal Umbrella was probably $5 and now is $15 ... how to compare nia?

Bill Gross: "The Cult Of Equity May Be Dying, But The Cult Of Inflation May Only Have Just Begun"

If Bill Gross is right, there will be QE10 5y down the road, inflation has just begun

Yah there is still alot of room for the balloon to grow.

**hovivi** · 31-07-12, 21:30

Originally Posted by azeoprop

Yah there is still alot of room for the balloon to grow.

Base on such theory, there is no bubble

Kopi price doubled but Ppty price has not doubled from 1997 level yet

**phantom_opera** · 31-07-12, 21:52

Originally Posted by hovivi

Base on such theory, there is no bubble

Kopi price doubled but Ppty price has not doubled from 1997 level yet

there is no bubble but we are living in a

http://www.youtube.com/watch?v=ziliGKfW2I0

world

**Clim1688** · 31-07-12, 22:06

This should be a D16 thread

**carbuncle** · 31-07-12, 22:12

Julio... I miss his duet with Diana Ross. where one part he sings 'Eeee'

Also loved his Moonlight Lady and To All the Girls I Loved Before

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