Commonwealth Towers condo sees strong demand at launch

[teddybear]

Commonwealth at $1800 psf is nothing if you compare that to people paying more than $1500 psf for a private condo in Hougang!

Most of these people buying OCR private condos near such prices will feel burnt / chao-ta a few years from now (and will probably never see price rise above their purchase price at THOUSAND YEARS historical peak price for subsequent >10 years)!

age 40+. But I dont think the wife will sell her HDB shop to pay less 3% ABSD (10% to 7%).

I think it is absurb because they bought the Lakevilla (near popular school Ru lang) at 800+psf & later rented out.
Tgt to sell at 1400psf. But was sold @1200+psf.

I thought there is a master Plan Proposals for Jurong east . ‘A District of the Future’ and Singapore’s Second CBD.
Lakeside will be an outstanding leisure destination with the new Jurong Lake Gardens and Science Centre.

Upgrading to commonwealth condo & pay $1800psf. I dont think it is a wise decision.Anyway, the wife's father is
rich enough to help them to pay for the 10% ABSD. We need more rich people like the father willing to pay ABSD.
The more the merrier to help the "less fortunate" SG people.

[henryhk]

Commonwealth at $1800 psf is nothing if you compare that to people paying more than $1500 psf for a private condo in Hougang!

Most of these people buying OCR private condos near such prices will feel burnt / chao-ta a few years from now (and will probably never see price rise above their purchase price at THOUSAND YEARS historical peak price for subsequent >10 years)!

$1.8k psf at queenstown also steep, if include 10% absd will be least $1.85k psf.... and there are so many condo at queenstown and redhill, at this price is not really worth it...... need to consider carefully

[tonymontana]

$1.8k psf at queenstown also steep, if include 10% absd will be least $1.85k psf.... and there are so many condo at queenstown and redhill, at this price is not really worth it...... need to consider carefully

12 years ago, 500k++ at robertson walk for 1 bedder 400+ sft, i also thought, not worth it.

today I regret i didn't buy it.

[PropVestor]

12 years ago, 500k++ at robertson walk for 1 bedder 400+ sft, i also thought, not worth it.

today I regret i didn't buy it.

SG properties might not leapfrog as much as before but there are still opportunities. As long as you maintain your health, you will outlast most investors and bank on more property cycles than anyone.

At least you have a chance to witness $550K prices at Robertson Walk. The newer generation of investors today find it a lot harder to enter the market than it is 15-20 years ago.

So I say, look forward...and maintain good health. That is the best investment you can give yourself.

2 cents,
PropVestor

[tonymontana]

SG properties might not leapfrog as much as before but there are still opportunities. As long as you maintain your health, you will outlast most investors and bank on more property cycles than anyone.

At least you have a chance to witness $550K prices at Robertson Walk. The newer generation of investors today find it a lot harder to enter the market than it is 15-20 years ago.

So I say, look forward...and maintain good health. That is the best investment you can give yourself.

2 cents,
PropVestor

well, health is always important regardless whatever investment or non-investment one is contemplating at any moment.

my point is that hardly anyone ever goes: "my property is cheap". everyone is always buying "expensive". It's only cheap in retrospect.

So i think if can afford it, and you've done the due dilligence, you are comfortable and can afford the property (without overstretching your finance), just buy it. sometimes the opportunity once gone, cannot come back again (for eg 550k at robertson walk, my example).

[henryhk]

well, health is always important regardless whatever investment or non-investment one is contemplating at any moment.

my point is that hardly anyone ever goes: "my property is cheap". everyone is always buying "expensive". It's only cheap in retrospect.

So i think if can afford it, and you've done the due dilligence, you are comfortable and can afford the property (without overstretching your finance), just buy it. sometimes the opportunity once gone, cannot come back again (for eg 550k at robertson walk, my example).

for $1800 psf, definitely opportunities are abundance, ...we must be prudent in our purchase because we can't guarantee healthy and a job forever..... only the developer and garment will gain from our purchase, give developer more $$$ to bid another record price land and nobody can stop them, a bit sad though..., and our future generations will suffer more.... I have been dabble in property for a while, my experience tell me those who bought at $1.8k psf can only sell near $1.6k psf in 10 years time....... yes the enjoyment of 10 years for $200 psf is worth it😜

[indomie]

SG properties might not leapfrog as much as before but there are still opportunities. As long as you maintain your health, you will outlast most investors and bank on more property cycles than anyone.

At least you have a chance to witness $550K prices at Robertson Walk. The newer generation of investors today find it a lot harder to enter the market than it is 15-20 years ago.

So I say, look forward...and maintain good health. That is the best investment you can give yourself.

2 cents,
PropVestor

The brilliant about Sg property is in the time proven value. Over time debt free country always out perform indebted nation. Sg property sluggish is due to the slowing of global trade, but this situation will change.

[tonymontana]

for $1800 psf, definitely opportunities are abundance, ...we must be prudent in our purchase because we can't guarantee healthy and a job forever..... only the developer and garment will gain from our purchase, give developer more $$$ to bid another record price land and nobody can stop them, a bit sad though..., and our future generations will suffer more.... I have been dabble in property for a while, my experience tell me those who bought at $1.8k psf can only sell near $1.6k psf in 10 years time....... yes the enjoyment of 10 years for $200 psf is worth it😜

well, i didn't actually suggest buy at 1800psf is very healthy, mind you. i just made a general statement - of course pls do your due dilligence, don't buy at the height of the market, don't buy another if your job isn't so stable, and so on. Also depends on whether one likes the location, for eg: I wouldn't pay 1800 psf for jurong for eg. but commonwealth, maybe. (however, i didn't ).

so in reference to my earlier post, i'm not advocating people buy commonwealth tower, neither am i saying it's too ridiculous a price to jump in. based on personal preference. but i definitely see a move from jurong to queenstown as an upgrade.

[PropVestor]

I have been dabble in property for a while, my experience tell me those who bought at $1.8k psf can only sell near $1.6k psf in 10 years time....... yes the enjoyment of 10 years for $200 psf is worth it😜

Ooops. I went in at $1,800psf for both Park Place Residences and Duo. Bugger.

[DC33_2008]

Heard Duo is collecting keys. What will be the rental yield at Duo?

Ooops. I went in at $1,800psf for both Park Place Residences and Duo. Bugger.

[PropVestor]

Better not go too off topic. Lets discuss this in the Duo thread.

[tonymontana]

Ooops. I went in at $1,800psf for both Park Place Residences and Duo. Bugger.

1800psf for Duo is OK isn't it, I just passed the building this afternoon, looks great, a landmark there. So the prediction is after you hold it for 10 years, you'd get only 1600psf for it? I don't think so.

[jojessie]

The brilliant about Sg property is in the time proven value. Over time debt free country always out perform indebted nation. Sg property sluggish is due to the slowing of global trade, but this situation will change.

Ya hopefully!

[proud owner]

If you drive from Commonwealth towards Queenstown ...

I always feel Commonwealth Towers is RIGHT IN FRONT OF ME...

in fengshui ... Chiong ... the road leads Straight at it ...

of course as you approaches the MRT station ... the road bends a little ...

still I dont get a good feel of it ...

prefer QueensPeak and Principal Gardens

[henryhk]

Ooops. I went in at $1,800psf for both Park Place Residences and Duo. Bugger.

Duo is a good buy at tis price, because it is special and in town, .....I can't say for Park, overpriced project.....

[henryhk]

Duo is a good buy at tis price, because it is special and in town, .....I can't say for Park, overpriced project.....

There are other new projects beside park, less than $1.4k psf, why pay high p for park....just like Jurong gateway, u want it u pay record price for it.

[PropVestor]

There are other new projects beside park, less than $1.4k psf, why pay high p for park....just like Jurong gateway, u want it u pay record price for it.

Duo was going for $1,800psf in Nov 2013 was pretty 'steep' at that time. I remembered being told it was very 'silly' to buy at such 'record prices' back in 2013 at the peak of cooling measures. Its doom and gloom all around me except inside the Duo showroom. We are like in a time capsule in our own reality with people saying we are crazy from the outside. Queue and ballot till 9pm. I was 33 with bermudas standing in line with my wife. I cannot say I know exactly what I was doing but finances checked out. We stood our ground. At that time, most do not know what is the true value of a mixed development because we never know if it might flip and die. There was no benchmark, nothing to compare against. No one knows what it will turn out to be 4 years later today. Now, I know more as I see Wallich Residences, V Shenton, PPR appearing.

Fast forward 2017, Duo is transacting above $2K psf despite CCR decline. Would I say the same for PPR in 2020 when supply drops even further? Lets see!

$1.32mil for CCR $3.2bn project for Duo? $900K for PPR in CCR also valued at $3.2bn. Pure stupidity on breaking record prices? Time will tell.

I take everything 2 cents except for my own judgement and analysis.

Again, my 2 cents comments
PropVestor

[rsrunner123]

Duo was going for $1,800psf in Nov 2013 was pretty 'steep' at that time. I remembered being told it was very 'silly' to buy at such 'record prices' back in 2013 at the peak of cooling measures. Its doom and gloom all around me except inside the Duo showroom. We are like in a time capsule in our own reality with people saying we are crazy from the outside. Queue and ballot till 9pm. I was 33 with bermudas standing in line with my wife. I cannot say I know exactly what I was doing but finances checked out. We stood our ground. At that time, most do not know what is the true value of a mixed development because we never know if it might flip and die. There was no benchmark, nothing to compare against. No one knows what it will turn out to be 4 years later today. Now, I know more as I see Wallich Residences, V Shenton, PPR appearing.

Fast forward 2017, Duo is transacting above $2K psf despite CCR decline. Would I say the same for PPR in 2020 when supply drops even further? Lets see!

$1.32mil for CCR $3.2bn project for Duo? $900K for PPR in CCR also valued at $3.2bn. Pure stupidity on breaking record prices? Time will tell.

I take everything 2 cents except for my own judgement and analysis.

Again, my 2 cents comments
PropVestor

I think the record highest DUO psf was $2663 at Mar 14 1 Fraser Street #20-XX New Sale 420

[tonymontana]

Duo was going for $1,800psf in Nov 2013 was pretty 'steep' at that time. I remembered being told it was very 'silly' to buy at such 'record prices' back in 2013 at the peak of cooling measures. Its doom and gloom all around me except inside the Duo showroom. We are like in a time capsule in our own reality with people saying we are crazy from the outside. Queue and ballot till 9pm. I was 33 with bermudas standing in line with my wife. I cannot say I know exactly what I was doing but finances checked out. We stood our ground. At that time, most do not know what is the true value of a mixed development because we never know if it might flip and die. There was no benchmark, nothing to compare against. No one knows what it will turn out to be 4 years later today. Now, I know more as I see Wallich Residences, V Shenton, PPR appearing.

Fast forward 2017, Duo is transacting above $2K psf despite CCR decline. Would I say the same for PPR in 2020 when supply drops even further? Lets see!

$1.32mil for CCR $3.2bn project for Duo? $900K for PPR in CCR also valued at $3.2bn. Pure stupidity on breaking record prices? Time will tell.

I take everything 2 cents except for my own judgement and analysis.

Again, my 2 cents comments
PropVestor

confirm in the money for DUO already. Cos larger units (twice the size of 700 sft) alrd transacted above 2K psf this year.

[rsrunner123]

confirm in the money for DUO already. Cos larger units (twice the size of 700 sft) alrd transacted above 2K psf this year.

Was eyeing DUO, so quite familiar.
Same unit sold(sub sale) at loss this year
Mar 17 1 Fraser Street #46-xx Sub Sale 1,528 Strata 1,963
Jun 14 1 Fraser Street #46-xx New Sale 1,528 Strata 2,576

[PropVestor]

confirm in the money for DUO already. Cos larger units (twice the size of 700 sft) alrd transacted above 2K psf this year.

This is still a little off from my estimate for 2017 Duo psf prices.

My audacious projection is hovering S$3K psf before 2027. That is when Ophir Rochor district, according to the Masterplan has developed D7 into an extension of the CBD. The chess pieces are already moving like for the Beach Road site and Kallang Riverside. Waiting eagerly for the underground to be linked from Duo, to this Beach road site and then to Suntec City. Key milestones are Rochor Centre being developed into a new mixed use mega development, the Queens street bus terminal into something worthwhile I hope, another 4/5 star hotel besides Andaz opposite the Queens street bus terminal and plus the mixed used sites next to Sim Lim Tower are developed. More Raffles Hospital medical tourists as their capacity increases with their new building. Why I monitor all these? My office is in D7. 2013 is my chance to own a part of this action after looking at the URA MasterPlan.

I have the same milestones for PPR like for example when Tanjong Katong Complex is redeveloped into a hotel? (Tan Chuan Jin mentioned a Paya Lebar Central hotel that is yet-to-be) as the link bridge from the PLQ offices get linked to it. It has to be a synergistic site for it to have a bridge. I can only imagine it to be a hotel to feed a office block that is connected to the MRT exchange underneath. The bridge connector has already been built as I drove past it this afternoon. I believe, all these have been discussed with the authorities when the site is being sold to LandLease. No point engaging the MP in such close proximity for just a regular mixed development. Or using Grant Associates who designed Gardens by the Bay (16 awards) for its 100,000 sq ft landscaping design. Use of DP Architects for its architecture design. Do you see these for $1,400psf projects? If yes, please enlighten me?

http://grant-associates.uk.com/3059/...nt-associates/

https://www.payalebarquarter.com/architecture

“We are glad that the distinctive cultural heritage and community spirit of this area is reflected in Paya Lebar Quarter,” said Prof Fatimah Lateef, Member of Parliament (MP) for Marine Parade Group Representation Constituency (GRC) for the ward of Geylang Serai. She has been very proactive engaging Lendlease, together with her volunteers, giving feedback and being updated on the project regularly.

https://www.iproperty.com.sg/news/10...mFSWtsE4h0M.99

http://www.straitstimes.com/singapor...-at-paya-lebar

Not $1 or $2bn at stake but $3.2bn...No small change even by today's 2017 GLS standard. It has to succeed in an ear marked site or a big slap in the face for government's car lite, CBD decentralisation plans.

Alot of hopes and dreams for D7 and D14.

2 cents worth of dreams
PropVestor

[Adva181]

Propvestor, we have similar view. Me too bought D7 n D14. Same age as u too. Hahaha

[PropVestor]

Propvestor, we have similar view. Me too bought D7 n D14. Same age as u too. Hahaha

We can either cry or laugh together in a few years. Shall we look at Great Southern Waterfront properties together when we turn 50?

I am flying my drone to scout which site has the best facing. Geo tag it, wait for tender and I will share it with you!

[tonymontana]

This is still a little off from my estimate for 2017 Duo psf prices.

My audacious projection is hovering S$3K psf before 2027. That is when Ophir Rochor district, according to the Masterplan has developed D7 into an extension of the CBD. The chess pieces are already moving like for the Beach Road site and Kallang Riverside. Waiting eagerly for the underground to be linked from Duo, to this Beach road site and then to Suntec City. Key milestones are Rochor Centre being developed into a new mixed use mega development, the Queens street bus terminal into something worthwhile I hope, another 4/5 star hotel besides Andaz opposite the Queens street bus terminal and plus the mixed used sites next to Sim Lim Tower are developed. More Raffles Hospital medical tourists as their capacity increases with their new building. Why I monitor all these? My office is in D7. 2013 is my chance to own a part of this action after looking at the URA MasterPlan.

I have the same milestones for PPR like for example when Tanjong Katong Complex is redeveloped into a hotel? (Tan Chuan Jin mentioned a Paya Lebar Central hotel that is yet-to-be) as the link bridge from the PLQ offices get linked to it. It has to be a synergistic site for it to have a bridge. I can only imagine it to be a hotel to feed a office block that is connected to the MRT exchange underneath. The bridge connector has already been built as I drove past it this afternoon. I believe, all these have been discussed with the authorities when the site is being sold to LandLease. No point engaging the MP in such close proximity for just a regular mixed development. Or using Grant Associates who designed Gardens by the Bay (16 awards) for its 100,000 sq ft landscaping design. Use of DP Architects for its architecture design. Do you see these for $1,400psf projects? If yes, please enlighten me?

http://grant-associates.uk.com/3059/...nt-associates/

https://www.payalebarquarter.com/architecture

“We are glad that the distinctive cultural heritage and community spirit of this area is reflected in Paya Lebar Quarter,” said Prof Fatimah Lateef, Member of Parliament (MP) for Marine Parade Group Representation Constituency (GRC) for the ward of Geylang Serai. She has been very proactive engaging Lendlease, together with her volunteers, giving feedback and being updated on the project regularly.

https://www.iproperty.com.sg/news/10...mFSWtsE4h0M.99

http://www.straitstimes.com/singapor...-at-paya-lebar

Not $1 or $2bn at stake but $3.2bn...No small change even by today's 2017 GLS standard. It has to succeed in an ear marked site or a big slap in the face for government's car lite, CBD decentralisation plans.

Alot of hopes and dreams for D7 and D14.

2 cents worth of dreams
PropVestor

What is human existence without dreams? If someone likes a particular location, it is natural for him to want to own a piece of the action. So, just enjoy the experience!

As for the PLQ masterplan, I do have high hopes it will turn out well.
However I do think the price is a bit toppish for that location, at the moment anyway.
As you say, Let's hope lendlease and all vested parties have some nice surprises along the way.
p/s thank you for the links.

[Adva181]

We can either cry or laugh together in a few years. Shall we look at Great Southern Waterfront properties together when we turn 50?

I am flying my drone to scout which site has the best facing. Geo tag it, wait for tender and I will share it with you!

Great... I am also vested in D1, definitely looking forward to the southern waterfront development.

I nearly took the stack u did for PPR, last min change to another stack closest to MRT haha.
I realise it's a big site n walking from 1 end to the other may take a while.

[ccreporter]

We can either cry or laugh together in a few years. Shall we look at Great Southern Waterfront properties together when we turn 50?

I am flying my drone to scout which site has the best facing. Geo tag it, wait for tender and I will share it with you!

Do you think the tanjong pagar area have better potential with the great southern waterfront city?

[PropVestor]

Great... I am also vested in D1, definitely looking forward to the southern waterfront development.

I nearly took the stack u did for PPR, last min change to another stack closest to MRT haha.
I realise it's a big site n walking from 1 end to the other may take a while.

I don't have funds like you bro. D1, D7 and D14.

Hope to meet you one day at PPR. I was hoping my stack is closest to the underground MRT exchange stated in the OTP.

Did you buy Duo too?

All the best to your investments!

[PropVestor]

Do you think the tanjong pagar area have better potential with the great southern waterfront city?

Why don't we wait for MasterPlan 2018 first before we get ahead of ourselves. This is one really massive site with a reservoir etc. I need to fly more and watch it evolve.

In the meantime, I am still watching Founders Memorial final position but should be next to the Marina Bay East MRT. Need more info. These things are not going to move and developments will go all around it.

[ccreporter]

Why don't we wait for MasterPlan 2018 first before we get ahead of ourselves. This is one really massive site with a reservoir etc. I need to fly more and watch it evolve.

In the meantime, I am still watching Founders Memorial final position but should be next to the Marina Bay East MRT. Need more info. These things are not going to move and developments will go all around it.

There is no bay east mrt. You meant tanjong rhu mrt?
Why do you think a Memorial will affect the price? I feel its impact could be minimal.

[PropVestor]

There is no bay east mrt. You meant tanjong rhu mrt?
Why do you think a Memorial will affect the price? I feel its impact could be minimal.

Not now but it will be there by 2023 or thereabouts. I run there every week. You can see its exact location now.

https://en.wikipedia.org/wiki/Garden...ay_MRT_Station

I never talked about pricing etc. All I said that these are assets which will not be moved. Just like the desalination plant that is slated to be built next to Bay East area or nearby there. I do not think housing will be built there as it is a sensitive asset.