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Thread: The Glades Next to Tanah Merah MRT (D16, 99 Years Leasehold, by Keppel Land)

  1. #181
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    Quote Originally Posted by Adva181
    I belongs to this group.
    Even when I belong to this group, I am not willing to pay the stupid 10% ABSD.
    That was the point I was trying to make/ ask. "Can do" and "will do" are very different.

    No doubt there are many rich people in Singapore who can easily pay 1m, 2m, 3m for a box apartment, in straight cash even. Yes, they "can do".

    I was thinking (out loud) whether just because you can does it mean you should. Is it at the point where it no longer makes sense? To my untrained eye, I see rentals leveling or even dropping, yet see sale prices climbing and climbing. Therefore, I concluded that buying SG property as an investment is purely about capital appreciation these days.

    Sale prices can possibly climb forever as there are enough rich people to pay whatever it takes. I don't think rentals can climb like that though. Most people are paying rental from salary. So for example, if I'm working hard to earn 10k per month am I really going to be happy to pay 6K, 7K, 8K to rent? Wouldn't this type of situation mean the normal foreigners (not on expat deals) would start to leave Singapore?

    I'm confused

  2. #182
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    Was at the show flat this morning. It was packed!

    As I expected the units feel really small. The show flat doesn't have all the walls in place which can make it feel bigger than it really is - but it still felt really very small (I looked at the 1 and 2 bed units).

    The development itself is pleasant, but it's an odd shape with all the blocks in a row and 1/2 the development is open to be gawped in at, especially from those riding past on the MRT. Still, I'd say it's going to have more than some of the others developments in the area. Optima, for example, is very bland surroundings.

    I'm still seriously considering a 2 bed compact unit. Depends on the pricing when actual price is announced.

    As someone mentioned the finishing is not amazing. And hopefully the workmanship on the real units will be better than on the show flat.

  3. #183
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    Quote Originally Posted by Village Idiot
    Was at the show flat this morning. It was packed!

    As I expected the units feel really small. The show flat doesn't have all the walls in place which can make it feel bigger than it really is - but it still felt really very small (I looked at the 1 and 2 bed units).

    The development itself is pleasant, but it's an odd shape with all the blocks in a row and 1/2 the development is open to be gawped in at, especially from those riding past on the MRT. Still, I'd say it's going to have more than some of the others developments in the area. Optima, for example, is very bland surroundings.

    I'm still seriously considering a 2 bed compact unit. Depends on the pricing when actual price is announced.

    As someone mentioned the finishing is not amazing. And hopefully the workmanship on the real units will be better than on the show flat.
    Prelaunch period seems to be extended. Few guys mentioned that show flat is crowded, are there many cheque submitted ?

  4. #184
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    Quote Originally Posted by Village Idiot
    I agree.

    This is a serious question, can someone explain why people are not deterred in any way from buying SG property, even when it doesn't seem sensible. Having a spare 1+ million dollars to spend on a tiny box apartment is one thing, thinking it's a good idea is another. I think were the next cooling measures to say all buyers must have a limb amputated then buyers would still happily queue up.

    It is at the point where, even at a low 1.5% interest rate, the potential monthly rental cannot even cover the monthly mortgage. I can only assume then, that the rich investors don't really look at the rental yield anymore and are in it purely for the anticipated capital appreciation. Would I be right? And just how high can a tiny box appreciate? Can and will people pay unlimited amounts for a tiny box in a suburban location? I don't see wage inflation keeping up with house inflation.
    Ha Ha .. talkjing about wage inflation .Tan Ku Ku liao .. only certain class of folks will see automatically wage inflation and adjustment .. the rest will see wage stagnation even after 10-15 years in a country that do not recognize the minimum wage .. where tripartite union look at businesss interest than interest of workers .. where plentifiul of cheap labours with the FT continuous influx ...

  5. #185
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    Quote Originally Posted by qianfugui
    Ha Ha .. talkjing about wage inflation .Tan Ku Ku liao .. only certain class of folks will see automatically wage inflation and adjustment .. the rest will see wage stagnation even after 10-15 years in a country that do not recognize the minimum wage .. where tripartite union look at businesss interest than interest of workers .. where plentifiul of cheap labours with the FT continuous influx ...
    Yep, the only thing that is cheap in Singapore is salaries

    I'm from UK, but I'm not getting any special expat terms here in SG. My salary is pretty lousy and if you are not getting any wage inflation them I am also not

    UK has minimum wage, but trust me if you are earning minimum wage you are still living in misery. I don't think minimum wage solves any problem. Certainly not when we are talking about buying a condo - no one on minimum wage is buying a condo that's for sure!

  6. #186
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    Quote Originally Posted by Village Idiot
    Yep, the only thing that is cheap in Singapore is salaries

    I'm from UK, but I'm not getting any special expat terms here in SG. My salary is pretty lousy and if you are not getting any wage inflation them I am also not

    UK has minimum wage, but trust me if you are earning minimum wage you are still living in misery. I don't think minimum wage solves any problem. Certainly not when we are talking about buying a condo - no one on minimum wage is buying a condo that's for sure!

    welcome to $ingapore ....where everybody walks and $$$ talks
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  7. #187
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    Quote Originally Posted by radha08
    welcome to $ingapore ....where everybody walks and $$$ talks
    Hahahaha I'm not new, no need to welcome me. I've been here 4 years I've seen it change so much in those 4 years - $ are much harder to make than to spend that's for sure.

  8. #188
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    Just met my agent.

    Tomorrow is the launch day, from 9 am.

    Many stacks are not being released.

    Any some stacks are over subscribed.

    In total, almost 300 cheques have been received.

    Just an update. This thread on glades has been very quiet.

  9. #189
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    Quote Originally Posted by Village Idiot View Post
    Just met my agent.

    Tomorrow is the launch day, from 9 am.

    Many stacks are not being released.

    Any some stacks are over subscribed.

    In total, almost 300 cheques have been received.

    Just an update. This thread on glades has been very quiet.
    300 cheques vs how many units released?

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    The way the project is done up and priced, it made eCO seems like a really good buy ... at least 150psf cheaper ...

  11. #191
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    Quote Originally Posted by kane View Post
    300 cheques vs how many units released?
    Wow! not a bad response. Total no. Of units 726. 300 cheques is about 40%. Is this due to Vanke's effect and investment ? Will be good to find out how many percentage of buyers is Chinese from China.

  12. #192
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    Has sales started?
    How's the response?

  13. #193
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    Quote Originally Posted by Khng8 View Post
    Has sales started?
    How's the response?
    I'm just back from the launch. It's the only launch I've ever been to so I have nothing to compare it against.

    I would say that the turnout of buyers was very poor (lots of agents and bankers making the tent look full, but buyers very small number). No way the 300 that my agent had said. Maybe less than 100 and many were looking like they were not going to buy - shaking their heads when they saw the price list.

    For example, the 1 bedder in stack 38 was asking over 1,700 psf

    I've heard stories that launch day is usually like a feeding frenzy, but this was not at all like that. I heard one guy make a good point when he said only 2 units were bought by Keppel staff (they get to buy before launch), shows that their own staff don't even believe in the project

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    Quote Originally Posted by bakasa2002 View Post
    The way the project is done up and priced, it made eCO seems like a really good buy ... at least 150psf cheaper ...
    It is about $350psf cheaper for 3 bedders

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    Quote Originally Posted by Laguna View Post
    It is about $350psf cheaper for 3 bedders
    Further from the MRT though. Some people hate walking I walked from MRT to ECO to test it and it's quite far. But still, at 350psf cheaper it's worth walking a few minutes more.

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    Is the $1700psf quoted the net price or before discount?
    What's the discount for early bird?
    Thanks in advance.

  17. #197
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    Quote Originally Posted by Village Idiot View Post
    I'm just back from the launch. It's the only launch I've ever been to so I have nothing to compare it against.

    I would say that the turnout of buyers was very poor (lots of agents and bankers making the tent look full, but buyers very small number). No way the 300 that my agent had said. Maybe less than 100 and many were looking like they were not going to buy - shaking their heads when they saw the price list.

    For example, the 1 bedder in stack 38 was asking over 1,700 psf

    I've heard stories that launch day is usually like a feeding frenzy, but this was not at all like that. I heard one guy make a good point when he said only 2 units were bought by Keppel staff (they get to buy before launch), shows that their own staff don't even believe in the project
    stack 38 is probably the most expensive 1 bedder stack as it has pool view, as well as distant sea view, for higher floors through the wide gap between blocks. so it's not a good gauge. besides, eco is a much further walk away from mrt, and most blocks are face-to-face, with no sea view. will probably check out glades soon to see general pricing.

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    Quote Originally Posted by Laguna View Post
    It is about $350psf cheaper for 3 bedders
    Wow, such a big diff? I thought it was $1250 v $1400 or glades 3br is higher than $1400?

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    Quote Originally Posted by bakasa2002 View Post
    Wow, such a big diff? I thought it was $1250 v $1400 or glades 3br is higher than $1400?
    I paid around $1188 for eco high floor unblocked view, The Glades #08-08 at.around $1520

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    Quote Originally Posted by Khng8 View Post
    Is the $1700psf quoted the net price or before discount?
    What's the discount for early bird?
    Thanks in advance.
    Early bird discount was said to be 2%. I don't believe that BS.

    I didn't see the final sales board, but seriously doubt they sold many today.

  21. #201
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    Quote Originally Posted by Village Idiot View Post
    Early bird discount was said to be 2%. I don't believe that BS.

    I didn't see the final sales board, but seriously doubt they sold many today.
    Oh, by the way, the maintenance fees are high. I only saw for the 2 bedder and I think it was quoted at 330 - 380 SGD per month. Good luck trying to pass that on to your tenant.

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    Quote Originally Posted by Village Idiot View Post
    Oh, by the way, the maintenance fees are high. I only saw for the 2 bedder and I think it was quoted at 330 - 380 SGD per month. Good luck trying to pass that on to your tenant.
    Oh, and another by the way, the price jump from the south facing units without sea view to those with sea view was significant. I looked at a 2 bed. The floor 7 unit (assume without sea view) was 35k cheaper than the floor 8 unit (assume with sea view). Is it worth 35k? Maybe it is. Again investor might think it can't be passed on to tenants? I'm speculating - as my user name suggests I'm an idiot so I could be wrong.

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    Went there around 7pm to have a look see...certainly was quieter than I expected for a newly launched project..no sales chart on display so sales must be below expectation

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    Quote Originally Posted by yesnomaybe View Post
    Went there around 7pm to have a look see...certainly was quieter than I expected for a newly launched project..no sales chart on display so sales must be below expectation
    They had the sales chart out for a while on launch day but it quickly disappeared. I don't think many people bought on launch day.

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    The Developers bought the land at $791 psf ... Much higher than the $500+ psf for eCO and Urban Vista

    Having said that the Glades is located near Changi Airport and Changi business park

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    Quote Originally Posted by yesnomaybe View Post
    The Developers bought the land at $791 psf ... Much higher than the $500+ psf for eCO and Urban Vista

    Having said that the Glades is located near Changi Airport and Changi business park
    What's your point? So is eCO and Urban Vista. Is it sarcasm

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    Expensive & not impressive for the price. No wonder so quiet there.

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    Just came back from showflat, quiet for a new launch. Understand from agent 80 plus units sold out of 400 plus units released. The units sold mainly 2br and 3br compact. Extra 2% discount given for this soft launch period till coming fri or sat (cannot remember) when it is launched officially.

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    Quote Originally Posted by Village Idiot View Post
    What's your point? So is eCO and Urban Vista. Is it sarcasm
    No sarcasm intended mate, even with high rent level I think there's still rental potential given the manpower requirement for constructing the additional airport terminals

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    Quote Originally Posted by yesnomaybe View Post
    No sarcasm intended mate, even with high rent level I think there's still rental potential given the manpower requirement for constructing the additional airport terminals
    If your theory holds water, isn't it better to buy Eco or urban vista instead ? Or other cheaper resale around the area?

    IMO , should just let keppel and vanke rot with this development. Why should buyers overpay when they overpaid.

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