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

  1. #211
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    Quote Originally Posted by iridrium View Post
    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.
    with the kinda of response they are getting, buyers are starting to vote with their wallets.

  2. #212
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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
    I'm skeptical. I've lived in this area for over 2 years.

    When I first rented a Casa Merah 2-bed (2 1/2 years ago) demand was higher than supplies. My landlord was smug about it.

    6 months ago he asked for a rental increase and I refused. He marketed the property for 2 months but had no takers and agreed to freeze the rental. The shoe was on the foot.

    Fast forward when Urban Vista, Eco and Glades are all TOP, do you think there is enough rental demand to fill all these units. I think landlords will be in a price war to secure tenants.

    Also, I'm told, I think reliably, that the so called commercial development between Optima and Urban Vista has been changed from commercial to a mixed development. Meaning even more residential units.

    Once everything is up there will be literally thousands of residential units within a short distance from the MRT.

    On another note, boarding the MRT at Tanah Merah, heading West, on a morning between 8am and 9am is a nightmare - it's so crowded you often have to wait for 2 or 3 trains to go past before you can squeeze on. Some people first board the train heading East and take it all the way to Pasir Ris, when everyone alights they stay on the train and get a seat and wait for it to come back in the other direction. What the hell is it going to be like at Tanah Merah MRT station when all these new developments are complete - you will not be able to even get on the platform, you'll be queuing on the concourse

  3. #213
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    Quote Originally Posted by gadiny View Post
    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.
    For those experience property gurus, if sales remain flat what is likely to happen?

    1. The developer will delay construction?
    2. The developer will discount more and more until buyers start to bite?

    If the developer's profit margin is eroded significantly does it mean they are likely to cut corners on the build (damage limitation) and produce a really lousy end product?

    Anybody have any idea?

  4. #214
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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.

    This is what i am paying for a 3 bedroom at waterbank. The Glades lift must be made of gold

  5. #215
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    Quote Originally Posted by Lovelle View Post
    This is what i am paying for a 3 bedroom at waterbank. The Glades lift must be made of gold
    +1. hahaha, what a joke all these condo so far away asking for $$$$$ prices & maintenance.

  6. #216
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    Quote Originally Posted by Village Idiot View Post
    I'm skeptical. I've lived in this area for over 2 years.

    When I first rented a Casa Merah 2-bed (2 1/2 years ago) demand was higher than supplies. My landlord was smug about it.

    6 months ago he asked for a rental increase and I refused. He marketed the property for 2 months but had no takers and agreed to freeze the rental. The shoe was on the foot.

    Fast forward when Urban Vista, Eco and Glades are all TOP, do you think there is enough rental demand to fill all these units. I think landlords will be in a price war to secure tenants.

    Also, I'm told, I think reliably, that the so called commercial development between Optima and Urban Vista has been changed from commercial to a mixed development. Meaning even more residential units.

    Once everything is up there will be literally thousands of residential units within a short distance from the MRT.

    On another note, boarding the MRT at Tanah Merah, heading West, on a morning between 8am and 9am is a nightmare - it's so crowded you often have to wait for 2 or 3 trains to go past before you can squeeze on. Some people first board the train heading East and take it all the way to Pasir Ris, when everyone alights they stay on the train and get a seat and wait for it to come back in the other direction. What the hell is it going to be like at Tanah Merah MRT station when all these new developments are complete - you will not be able to even get on the platform, you'll be queuing on the concourse
    Mr VI, why are you residing in Tanah Merah then if you work in the city (I'm assuming) ? You should be looking to buy in city fringe area instead

  7. #217
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    Or go all the way to Pasir Ris... Vue 8 Residence
    $900-1200 psf. High floor units with sea view
    Call me at 91087536 if you're interested.

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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
    Why not rent at Pasir Ris better? And also when building airport, can the construction workers rent a condo? Because I believe the manager and engineer in such project will not be a big number anyway.

  9. #219
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    Well there is also the Changi Business park and of course the flight crew people.
    From anecdotal evidence, the 1 and 2 bedroom units at Optima were easily rented out. I think you can't go very wrong with a 1 or 2 bedder next to a mrt station.

  10. #220
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    Quote Originally Posted by yesnomaybe View Post
    Mr VI, why are you residing in Tanah Merah then if you work in the city (I'm assuming) ? You should be looking to buy in city fringe area instead
    Good question. I used to work at Changi Business Park. I changed jobs and now work at Suntec, but I'd already renewed my lease at Casa Merah before I changed jobs.

  11. #221
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    Quote Originally Posted by yesnomaybe View Post
    Well there is also the Changi Business park and of course the flight crew people.
    From anecdotal evidence, the 1 and 2 bedroom units at Optima were easily rented out. I think you can't go very wrong with a 1 or 2 bedder next to a mrt station.
    You know better than I do. But I was thinking, there isn't an endless supply of tenants, but there seems to be a total over supply of units around Tanah merah mrt - 100s if not 1000s of new units being built. Does the government plan the supply in an area versus potential demand? Or couldn't they care less, not their problem

  12. #222
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    Quote Originally Posted by yesnomaybe View Post
    Mr VI, why are you residing in Tanah Merah then if you work in the city (I'm assuming) ? You should be looking to buy in city fringe area instead
    OCR cheaper than city mah.

  13. #223
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    Rental don't work this way. It is not area based but rather, spread across the island. Singapore is too small. Let's take a look at studio only. If I work in Paya Lebar, and there is no condo there, I will find Lavendar or Tanah Merah. But Lavendar 3.8k, Optima 3.2k, I will take Optima. But some have more housing allowance so they can afford Lavendar. Those who can only pay 2.5k, they will go for Pasir Ris studio.

    Let's say there are 1,000 new units at tanah merah. Those who are staying at Pasir Ris will come over to tanah merah since rental there will probably drop to 2.5k. But no one will be interested in Pasir Ris anymore and Pasir Ris have to lower their rental to 2k because no MRT there. And since TM is 2.5k rental, Lavendar will face competition as well. They cannot hold on to 3.8k anymore since TM 2.5k. They will probably reduce their price to 3k. This will have ripple effect to D1, D2 as well.

    This is the same for any district. Like D2 many condos coming up, rental will probably be around 3.5k. People will shift from D7/D8 to D2 since same rental. What happen to D7/D8? Rental will drop and will ripple across the island.




    Quote Originally Posted by Village Idiot View Post
    You know better than I do. But I was thinking, there isn't an endless supply of tenants, but there seems to be a total over supply of units around Tanah merah mrt - 100s if not 1000s of new units being built. Does the government plan the supply in an area versus potential demand? Or couldn't they care less, not their problem

  14. #224
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    When that happens, what do you think for people living in Bedok or Kembangan? Isn't it worse for them?



    Quote Originally Posted by Village Idiot View Post
    I'm skeptical. I've lived in this area for over 2 years.

    When I first rented a Casa Merah 2-bed (2 1/2 years ago) demand was higher than supplies. My landlord was smug about it.

    6 months ago he asked for a rental increase and I refused. He marketed the property for 2 months but had no takers and agreed to freeze the rental. The shoe was on the foot.

    Fast forward when Urban Vista, Eco and Glades are all TOP, do you think there is enough rental demand to fill all these units. I think landlords will be in a price war to secure tenants.

    Also, I'm told, I think reliably, that the so called commercial development between Optima and Urban Vista has been changed from commercial to a mixed development. Meaning even more residential units.

    Once everything is up there will be literally thousands of residential units within a short distance from the MRT.

    On another note, boarding the MRT at Tanah Merah, heading West, on a morning between 8am and 9am is a nightmare - it's so crowded you often have to wait for 2 or 3 trains to go past before you can squeeze on. Some people first board the train heading East and take it all the way to Pasir Ris, when everyone alights they stay on the train and get a seat and wait for it to come back in the other direction. What the hell is it going to be like at Tanah Merah MRT station when all these new developments are complete - you will not be able to even get on the platform, you'll be queuing on the concourse

  15. #225
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    Quote Originally Posted by Village Idiot View Post
    You know better than I do. But I was thinking, there isn't an endless supply of tenants, but there seems to be a total over supply of units around Tanah merah mrt - 100s if not 1000s of new units being built. Does the government plan the supply in an area versus potential demand? Or couldn't they care less, not their problem
    For foreigners working at Changi business park or the airport, the logical area to rent would be Tanah Merah.
    I personally know a lot of SIA flight crew reside in Pasir Ris

  16. #226
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    Quote Originally Posted by Village Idiot View Post

    Fast forward when Urban Vista, Eco and Glades are all TOP, do you think there is enough rental demand to fill all these units. I think landlords will be in a price war to secure tenants.:
    Singapore has high in-flows of FTs, and so I think demand is not really an issue when these units TOP.

    To get out of price war, therefore it is important to select a REASONABLE unit that will easily secure a tenant over others first. A lot of investors make the mistake of buying the cheapest units (e.g. low floor, west facing, no view, bad feng shui etc) - they are the ones who probably will have to rent out their units last if there are many units for tenants to choose from the same project.

    Hence if there are many similar units, one should pay attention to the unique selling points of an individual unit before signing the OTP. Sometimes, paying like $30,000 more for higher floors or unobstructed views is actually worth it vs paying for cheapest launch price and you get weird tenants who want it cheap and turn your unit into a cheapo place!

  17. #227
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    It is not a linear relationship as this is a complex problem and multifactorial in nature. It can be at macro and micro level. Imagine when hdb dwellers start to rent out their hdb flats and move to their condos as flats give better yield coupled with oversupply of condos in two years time.
    Quote Originally Posted by thomastansb View Post
    Rental don't work this way. It is not area based but rather, spread across the island. Singapore is too small. Let's take a look at studio only. If I work in Paya Lebar, and there is no condo there, I will find Lavendar or Tanah Merah. But Lavendar 3.8k, Optima 3.2k, I will take Optima. But some have more housing allowance so they can afford Lavendar. Those who can only pay 2.5k, they will go for Pasir Ris studio.

    Let's say there are 1,000 new units at tanah merah. Those who are staying at Pasir Ris will come over to tanah merah since rental there will probably drop to 2.5k. But no one will be interested in Pasir Ris anymore and Pasir Ris have to lower their rental to 2k because no MRT there. And since TM is 2.5k rental, Lavendar will face competition as well. They cannot hold on to 3.8k anymore since TM 2.5k. They will probably reduce their price to 3k. This will have ripple effect to D1, D2 as well.

    This is the same for any district. Like D2 many condos coming up, rental will probably be around 3.5k. People will shift from D7/D8 to D2 since same rental. What happen to D7/D8? Rental will drop and will ripple across the island.

  18. #228
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    Quote Originally Posted by thomastansb View Post
    When that happens, what do you think for people living in Bedok or Kembangan? Isn't it worse for them?
    Much worse!!

    Kembangan there is rarely many people trying to board.

    Bedok you are totally screwed. The platform is packed and seriously no one can even squeeze on board. I've seen people pushing and shoving each other and screaming at each other - I can't speak Chinese but I'm pretty sure they were not saying nice things to each other.

    I have no idea how they eventually force their way on. Maybe leave house 8am arrive work 11am - 3 hours stood on the platform.

    And as for the people in the red uniforms with the glow sticks who are meant to try to keep order on the platforms, all I can say is they are useless!!!

  19. #229
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    Quote Originally Posted by thomastansb View Post
    Rental don't work this way. It is not area based but rather, spread across the island. Singapore is too small. Let's take a look at studio only. If I work in Paya Lebar, and there is no condo there, I will find Lavendar or Tanah Merah. But Lavendar 3.8k, Optima 3.2k, I will take Optima. But some have more housing allowance so they can afford Lavendar. Those who can only pay 2.5k, they will go for Pasir Ris studio.

    Let's say there are 1,000 new units at tanah merah. Those who are staying at Pasir Ris will come over to tanah merah since rental there will probably drop to 2.5k. But no one will be interested in Pasir Ris anymore and Pasir Ris have to lower their rental to 2k because no MRT there. And since TM is 2.5k rental, Lavendar will face competition as well. They cannot hold on to 3.8k anymore since TM 2.5k. They will probably reduce their price to 3k. This will have ripple effect to D1, D2 as well.

    This is the same for any district. Like D2 many condos coming up, rental will probably be around 3.5k. People will shift from D7/D8 to D2 since same rental. What happen to D7/D8? Rental will drop and will ripple across the island.
    This makes sense. It's well described.

    So my next question. For a pure investor, sharply falling rentals versus all time ridiculous condo selling prices makes SG property a bad proposition. Right or not?

    Anyone think a 452 sqft studio at Tanah Merah is worth the 1,700+ psf? As an investment proposition?

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    Quote Originally Posted by Village Idiot View Post
    This makes sense. It's well described.

    So my next question. For a pure investor, sharply falling rentals versus all time ridiculous condo selling prices makes SG property a bad proposition. Right or not?

    Anyone think a 452 sqft studio at Tanah Merah is worth the 1,700+ psf? As an investment proposition?
    yes it is worth it if u looking at a NEGATIVE investment
    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...

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    I agree. Our public transport is really bad. It is very sickening.



    Quote Originally Posted by Village Idiot View Post
    Much worse!!

    Kembangan there is rarely many people trying to board.

    Bedok you are totally screwed. The platform is packed and seriously no one can even squeeze on board. I've seen people pushing and shoving each other and screaming at each other - I can't speak Chinese but I'm pretty sure they were not saying nice things to each other.

    I have no idea how they eventually force their way on. Maybe leave house 8am arrive work 11am - 3 hours stood on the platform.

    And as for the people in the red uniforms with the glow sticks who are meant to try to keep order on the platforms, all I can say is they are useless!!!

  22. #232
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    What do you think? I mean, there is no right or wrong. There is always a cycle. Be it 4 years, 6 years or 8 years. Sometimes, shorter, sometimes longer. Some are luckier. Buy low, rent out 5 years, sell then prices drop. Some are unlucky. Buy high, rental drop then sell low.

    But at its peak, there will always be people buying at ridiculous pricing and still think it is a good buy. 2 years later, they repent. Some weaker owners have to sell at a massive loss. So history will always repeat itself. 1.8k psf for Jurong or Tanah Merah, no thanks.

    1997 - Drop
    1999 - Recover
    2001 - Drop
    2003 - Drop
    2006 - Recover
    2008 - Drop
    2009 - Recover

    201? - Drop






    Quote Originally Posted by Village Idiot View Post
    This makes sense. It's well described.

    So my next question. For a pure investor, sharply falling rentals versus all time ridiculous condo selling prices makes SG property a bad proposition. Right or not?

    Anyone think a 452 sqft studio at Tanah Merah is worth the 1,700+ psf? As an investment proposition?

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    Yes, there are cycles....but there is also the ongoing govt program to boost the population in SG to the 6.9 million figure meaning about 100,000 immigrants annually

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    2008 didn't really drop, is a short pull back....who waiting for big drop now will disappoint......as the holding power now is different....any big drop in 5 years time....alot sitting on the fence waiting

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    Quote Originally Posted by Village Idiot View Post
    Much worse!!

    Kembangan there is rarely many people trying to board.

    Bedok you are totally screwed. The platform is packed and seriously no one can even squeeze on board. I've seen people pushing and shoving each other and screaming at each other - I can't speak Chinese but I'm pretty sure they were not saying nice things to each other.

    I have no idea how they eventually force their way on. Maybe leave house 8am arrive work 11am - 3 hours stood on the platform.

    And as for the people in the red uniforms with the glow sticks who are meant to try to keep order on the platforms, all I can say is they are useless!!!
    For Bedok still not too bad. There will be alternate empty carriage arrived from the depot.

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    When crisis come, who want to come? This 6.9M is crap. It is just an excuse for people to sell you something. Don't be fooled.

    Since 1990s, Singapore has been bringing in foreigners. In fact, from 2013 till 2030, if we take the 6.9M target, we are actually slowing down.

    Anyway, if immigrants are so "powerful" that they can make property "invincible", then property will not drop > 30% in end 2008/ early 2009.



    Quote Originally Posted by yesnomaybe View Post
    Yes, there are cycles....but there is also the ongoing govt program to boost the population in SG to the 6.9 million figure meaning about 100,000 immigrants annually

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    Quote Originally Posted by thomastansb View Post
    When crisis come, who want to come? This 6.9M is crap. It is just an excuse for people to sell you something. Don't be fooled.
    I like wat u said in bold.
    so it is up to individuals as to whether they buy a story at the end of the day.
    Im very amused to see J gateway owners given the assurance tat it will yield one of the highest rental in sg when it TOP wor!

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    Quote Originally Posted by thomastansb View Post
    When crisis come, who want to come? This 6.9M is crap. It is just an excuse for people to sell you something. Don't be fooled.

    Since 1990s, Singapore has been bringing in foreigners. In fact, from 2013 till 2030, if we take the 6.9M target, we are actually slowing down.

    Anyway, if immigrants are so "powerful" that they can make property "invincible", then property will not drop > 30% in end 2008/ early 2009.
    Of course there are many forces at work to influence the final outcome. If it is so simple like 2 years up 2 years down then kindergarten kids can be analysts too

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    Quote Originally Posted by thomastansb View Post
    I agree. Our public transport is really bad. It is very sickening.
    next friday i am taking the train to town to watch the F1 wish me luck
    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...

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    Quote Originally Posted by yesnomaybe View Post
    Of course there are many forces at work to influence the final outcome. If it is so simple like 2 years up 2 years down then kindergarten kids can be analysts too

    honestly some of our anal lists are worse than kinder kids
    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...

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