Developer lower price

**Congress** · 10-10-12, 19:42

Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA

**dtrax** · 10-10-12, 20:19

Originally Posted by Congress

Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA

sign OTP n S&P legal binding..u think developer will compensate u?

**kane** · 10-10-12, 20:23

Caveat emptor.

sh · 10-10-12, 20:32

Originally Posted by Congress

Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA

If the developer increases prices for future phases, can the developer ask you for top up?

**Laguna** · 10-10-12, 20:39

In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.

That is the only one I know so far.

**buttercarp** · 10-10-12, 20:41

Last year in Shanghai, there was a group of Shanghai home owners smashing showroom in protest over falling prices.

http://blogs.wsj.com/chinarealtime/2...alling-prices/

**kane** · 10-10-12, 20:59

That will almost certainly never happen here.

**buttercarp** · 10-10-12, 21:14

Originally Posted by Laguna

In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.

That is the only one I know so far.

Found this website about Cheung Kong.
But it mentioned about the buy back scheme in Hong Kong's Laguna Verde.

http://www.presidiopenthouse.com/rea...anager/ck.html

**chestnut** · 10-10-12, 21:48

Originally Posted by Laguna

In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.

That is the only one I know so far.

I tot it was thomson800. Maybe I wrong. Memory failing. Should surf to check out

**price** · 10-10-12, 22:32

Originally Posted by Congress

Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA

are you kidding? which product in the world allows that?

**kane** · 10-10-12, 22:34

Originally Posted by price

are you kidding? which product in the world allows that?

if such a program exist, CDL can ask for recourse from the buyers of Arte and Fraser can ask for recourse from the buyers for Caspian. heh.

**price** · 10-10-12, 22:38

Originally Posted by kane

if such a program exist, CDL can ask for recourse from the buyers of Arte and Fraser can ask for recourse from the buyers for Caspian. heh.

like that no need to invest liao. win or lose will be compensated anyway.

**kane** · 10-10-12, 22:53

Originally Posted by price

like that no need to invest liao. win or lose will be compensated anyway.

everyone will go buy the most expensive property that they can afford, because bao jiak. lose money can get back from developer. heh.

**zeamybro** · 10-10-12, 22:55

Originally Posted by chestnut

I tot it was thomson800. Maybe I wrong. Memory failing. Should surf to check out

Chestnut is right.. It's Thomson800:

Under its Guaranteed Appreciation Plan, Cheung Kong was prepared to offer buyers a 10 per cent capital appreciation in about five years for units at Thomson 800 as well as protecting buyers against price falls of up to 10 per cent. If the valuation increased by less than 10 per cent above the purchase price, the developer would pay buyers the difference.

**Pikachu1245** · 10-10-12, 22:57

Originally Posted by dtrax

sign OTP n S&P legal binding..u think developer will compensate u?

Wondering if the recently implemented 'Lemon Law' can be applied here?

**dtrax** · 10-10-12, 23:00

Originally Posted by Pikachu1245

Wondering if the recently implemented 'Lemon Law' can be applied here?

I SCREAM LEMON!

**kane** · 10-10-12, 23:06

Originally Posted by zeamybro

Chestnut is right.. It's Thomson800:

Under its Guaranteed Appreciation Plan, Cheung Kong was prepared to offer buyers a 10 per cent capital appreciation in about five years for units at Thomson 800 as well as protecting buyers against price falls of up to 10 per cent. If the valuation increased by less than 10 per cent above the purchase price, the developer would pay buyers the difference.

so did any of the buyers activate the compensation clause?

**chestnut** · 10-10-12, 23:13

Originally Posted by kane

so did any of the buyers activate the compensation clause?

By then, I think all the prices shot up liao.

**kane** · 10-10-12, 23:20

Right. It was sold in late 1998 at around $600+psf. In 2005, it transacted at around $500-$600psf. I wonder at what timeline do they set the 10% price change cutoff.

**UltimateAro888** · 11-10-12, 07:44

Originally Posted by Congress

Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA

Tough.. I know the feeling. That time the developer (or marketing agency) give rebate 2%to this new sales just week after I bought.

I did try to get help from the laywer who does my loan contract .The lawyer wrote to developer, and developer deny it as debate was given by agency...

I think No way.

**vip** · 11-10-12, 15:39

Originally Posted by Laguna

In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.

That is the only one I know so far.

You mean the Costa del Sol by Cheung Kong Holdings sold in year 2000?

For the guarantee, the developer kept the same price level during the subsequent gloomy years. After TOP, there were so many vacant units that the whole development looked very empty for many years. My ex-colleague bought the penthhouse but later had to sell at a loss.

**chiaberry** · 11-10-12, 23:32

Originally Posted by kane

Right. It was sold in late 1998 at around $600+psf. In 2005, it transacted at around $500-$600psf. I wonder at what timeline do they set the 10% price change cutoff.

The time line was 5 years after purchase. When it was sold, it was soon after the Asian financial crisis. You would have thought that things would go up after that. However, 5 years later, SARS hit. The original owners who held the units for 5 years got back 10% of the purchase price in cash.

**kane** · 11-10-12, 23:36

Originally Posted by chiaberry

The time line was 5 years after purchase. When it was sold, it was soon after the Asian financial crisis. You would have thought that things would go up after that. However, 5 years later, SARS hit. The original owners who held the units for 5 years got back 10% of the purchase price in cash.

nice. and that 10% they got coincided with the low of the market.

**azeoprop** · 11-10-12, 23:38

Wonder got any developers offering such scheme nowadays?

The nearest to this I know is the rental guarantee for seletar park residence.

**chiaberry** · 11-10-12, 23:43

Originally Posted by azeoprop

Wonder got any developers offering such scheme nowadays?

The nearest to this I know is the rental guarantee for seletar park residence.

I think not likely after what happened to CK with Thomson 800. I believe they had to pay quite a hefty sum out. These days the economic cycles are much shorter and with whatever swans black white etc coming and going.....it would be a risky bet for developers to make.

**kane** · 11-10-12, 23:44

Originally Posted by azeoprop

Wonder got any developers offering such scheme nowadays?

The nearest to this I know is the rental guarantee for seletar park residence.

that one kachang puteh next to this 10% guarantee.

**chestnut** · 12-10-12, 05:16

Originally Posted by kane

that one kachang puteh next to this 10% guarantee.

Ok bro, today I good mood. Let u in on my theory. Whenever the people go into a euphoria, we are almost at the last cycle.

If you see this euphoria in property, start to take notice of cracks. It may happen.
Senario 2, property continues to climb, and u see euphoria in stocks,
Bro, this 1, definitely cycle coming to an end.

As for now, my eyes are opened very big and looking out for tell tale signs.

**kane** · 12-10-12, 06:42

Originally Posted by chestnut

Ok bro, today I good mood. Let u in on my theory. Whenever the people go into a euphoria, we are almost at the last cycle.

If you see this euphoria in property, start to take notice of cracks. It may happen.
Senario 2, property continues to climb, and u see euphoria in stocks,
Bro, this 1, definitely cycle coming to an end.

As for now, my eyes are opened very big and looking out for tell tale signs.

I am seeing scenario 2 as the likely outcome here. US is starting to crawl out of their rut.

And because of unprecedented actions taken, it will create unprecedent outcomes.

**kane** · 12-10-12, 06:44

And i too believe history always repeats itself. Just in a different magnitude.

**chestnut** · 12-10-12, 06:45

Originally Posted by kane

I am seeing scenario 2 as the likely outcome here. US is starting to crawl out of their rut.

And because of unprecedented actions taken, it will create unprecedent outcomes.

Wah, you damn good. The next one will be super big. You know, I tell people this, they don't understand.

Menu

Thread: Developer lower price

Thread Tools

Search Thread

Developer lower price

Similar Threads

Le Arc in another en bloc bid at a lower S$18.5m price

The Prospex back on the market, with lower price tag

En bloc site relaunched with 40% lower price tag

Landmark Tower goes en bloc again, at lower price tag

Pinetree back with lower en bloc asking price

Posting Permissions