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Thread: Paya Lebar Quarter

  1. #61
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    Quote Originally Posted by TCH08 View Post
    My friend bought a 1 bedder unit at PPR for investment at $1750 psf. Do you think is a good buy?
    Only Time can tell.

    I bought 2 Bedroom @ Southbank, everyone say expensive.

    Time tell me is not.

  2. #62
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    Quote Originally Posted by bargain hunter View Post
    cross clementi road got hdb = OCR lol.
    Then what about CCR or RCR HDB? Not so simplistic bah...
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #63
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    Got our number called about 1pm. Went in for a unit. PLQ has met their objective which is to release only 40% at this phase but response and unit take up is higher than expected. They may likely position this as 'phase 1 100% sold' to anticipate phase 2 price adjustments later part of this year. They should have sold about close to 50-60% of the total of 400plus units.

    Marketing talk aside, I stand by the micro location of this D14(it's always an underdog to me) due to its future development potential and the high tenant potential against massive Grade A offices within covered walking distance.

    Like all of you here, property is an investment and will contain risks. But if you can see what others do not and believe in the fundamentals. It is a matter of timing your risk against future benefits. There's a lot of talk but not many will really take the plunge. It takes some faith too.

    Ps. The earth day moment coincided with those waiting in the dark for their OTP. That's really funny! Have a good day everyone. Those who bought this place, hope to see you there in this mega development.

    2 cents,
    Propvestor

  4. #64
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    Congrats, don't ask the blind what they see, ask what you see instead.

  5. #65
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    Quote Originally Posted by Arcachon View Post
    Congrats, don't ask the blind what they see, ask what you see instead.
    Thanks. I know you bought Duo too. Hope to see you there soon!

  6. #66
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    Quote Originally Posted by PropVestor View Post
    Thanks. I know you bought Duo too. Hope to see you there soon!
    How I wish I bought one, Thanks.

  7. #67
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  8. #68
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    Quote Originally Posted by Kelonguni View Post
    Then what about CCR or RCR HDB? Not so simplistic bah...
    correct me if i'm wrong, but i think there are no hdbs in CCR other than those last few blocks near d'leedon on both sides of the road?

  9. #69
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    Quote Originally Posted by bargain hunter View Post
    correct me if i'm wrong, but i think there are no hdbs in CCR other than those last few blocks near d'leedon on both sides of the road?
    Yah seems like I have taken Tanjong Pagar to be CCR.

    But actually its really confusing because it is in district 4 which based on some indices calculation is central.

    http://www.straitstimes.com/singapor...ckfire-experts

    "Chief executive of International Property Advisor Ku Swee Yong feels that public housing subsidised by taxpayers should not be built on expensive, prime land. "We can begin by rezoning all HDB sites in the core central region (CCR) as private residential sites," he said, citing the HDB blocks in Tanjong Pagar Plaza.

    He added: "The higher land value for residential sites in the CCR will return more cash into our national reserves when private developers pay for these sites.

    "Such a move will also reduce the burden on taxpayers subsidising 'lottery flats' and creating millionaires of subsidised home owners.""

    https://spring.ura.gov.sg/lad/ore/login/map_ocr.pdf

    But the most important takeaway is it is indeed confusing. How about the segmentation of HDBs that are RCR versus OCR??? Is it real or meaningful?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  10. #70
    OCR properties going to crash!

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    That is why RCR can never compare to CCR mah (or CCR with HDB flats - since not all CCR are equal)..................!!!

    Why not you ask yourself: Do you see HDB flats amidst good class bungalow areas???

    Quote Originally Posted by Kelonguni View Post
    Yah seems like I have taken Tanjong Pagar to be CCR.

    But actually its really confusing because it is in district 4 which based on some indices calculation is central.

    http://www.straitstimes.com/singapor...ckfire-experts

    "Chief executive of International Property Advisor Ku Swee Yong feels that public housing subsidised by taxpayers should not be built on expensive, prime land. "We can begin by rezoning all HDB sites in the core central region (CCR) as private residential sites," he said, citing the HDB blocks in Tanjong Pagar Plaza.

    He added: "The higher land value for residential sites in the CCR will return more cash into our national reserves when private developers pay for these sites.

    "Such a move will also reduce the burden on taxpayers subsidising 'lottery flats' and creating millionaires of subsidised home owners.""

    https://spring.ura.gov.sg/lad/ore/login/map_ocr.pdf

    But the most important takeaway is it is indeed confusing. How about the segmentation of HDBs that are RCR versus OCR??? Is it real or meaningful?

  11. #71
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    Quote Originally Posted by teddybear View Post
    That is why RCR can never compare to CCR mah (or CCR with HDB flats - since not all CCR are equal)..................!!!

    Why not you ask yourself: Do you see HDB flats amidst good class bungalow areas???
    I asked that before. I also asked, "Do you see GCB in non-CCR area?"
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  12. #72
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    Quote Originally Posted by PropVestor View Post
    Got our number called about 1pm. Went in for a unit. PLQ has met their objective which is to release only 40% at this phase but response and unit take up is higher than expected. They may likely position this as 'phase 1 100% sold' to anticipate phase 2 price adjustments later part of this year. They should have sold about close to 50-60% of the total of 400plus units.

    Marketing talk aside, I stand by the micro location of this D14(it's always an underdog to me) due to its future development potential and the high tenant potential against massive Grade A offices within covered walking distance.

    Like all of you here, property is an investment and will contain risks. But if you can see what others do not and believe in the fundamentals. It is a matter of timing your risk against future benefits. There's a lot of talk but not many will really take the plunge. It takes some faith too.

    Ps. The earth day moment coincided with those waiting in the dark for their OTP. That's really funny! Have a good day everyone. Those who bought this place, hope to see you there in this mega development.

    2 cents,
    Propvestor
    By selling 50%, developer has break even. And with no time constraints to sell since it's not bound by stamp duty rules, phase 2 prices will likely increase.

  13. #73
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    Quote Originally Posted by Veinman View Post
    By selling 50%, developer has break even. And with no time constraints to sell since it's not bound by stamp duty rules, phase 2 prices will likely increase.
    Its out today on both Business Times and Yahoo Finance.

    https://sg.finance.yahoo.com/news/ha...080500314.html
    http://www.businesstimes.com.sg/real...ces-snapped-up

    Yes, good observation on the breakeven point. They have also likely recouped their costs from the residential development after paying $900+ psf overall during the bidding if you take 40% development costs benchmark. There is no real hurry now to sell the remaining units. Its easier to report such optimistic (50% sales Phase 1 launch day) figures for their LandLease commercial team who are looking for tenants going into Grade A offices. I will put the price close to Duo Tower going for $8psf, both Grade A, big floor plates and next to MRT Interchanges.

    Thats one of the true advantage of buying into a 3-in-1 S$3.2billion mixed development, the developer can play with commercial and residential costs-profits. For owners, its a risk spread because you are really buying into the entire real estate. Residential to recoup costs quickly, use those monies to fund commercial-retail building costs which are really for long term profits through rents. There will be more of such developments in future, investors just need to tune in but prepare to pay future prices.

    For Phase II, it will be for those who want to see something being announced before they buy into it. For example, if LandLease announced high tenancy or a MNC taking multiple floors or government announcing something in the pipeline for Paya Lebar Central Region (its in the URA Master Plan anyway so its a matter of time).

    40% launch units is a carefully devised plan during such weak times. No reason for them to put 2 full page ads on Saturday if they plan to sell 100% of the units. This is opposable thinking as developers will not hold back 100% release today. Saturday ballot tent already exceeded 1,000 hopefuls.

    Over a certain threshold of psf in this area will push back investors as I can see from the fence sitters inside the 'Thinking Box' busy pressing their calculators. I put this figure at $2,000psf for 1-BR in PPR which will put on some brakes. Who would have thought this is once a big swampland circa 1820-1830s asking for such a price today.

    2 cents,
    PropVestor

  14. #74
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    Quote Originally Posted by Veinman View Post
    By selling 50%, developer has break even. And with no time constraints to sell since it's not bound by stamp duty rules, phase 2 prices will likely increase.
    Do you mean landlease charged double the psf hence managed to break even by selling just 50% of the units? I read on the internet that their breakeven point is 1800psf so would like to clarify..

  15. #75
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    Your analysis is excellent! Do you buy it for own stay or investment? My friend bought one unit and and she buys it for investment. Do you think those 215 investors have to pay ABSD or most of them are first time buyers? Thank you.
    Quote Originally Posted by PropVestor View Post
    Its out today on both Business Times and Yahoo Finance.

    https://sg.finance.yahoo.com/news/ha...080500314.html
    http://www.businesstimes.com.sg/real...ces-snapped-up

    Yes, good observation on the breakeven point. They have also likely recouped their costs from the residential development after paying $900+ psf overall during the bidding if you take 40% development costs benchmark. There is no real hurry now to sell the remaining units. Its easier to report such optimistic (50% sales Phase 1 launch day) figures for their LandLease commercial team who are looking for tenants going into Grade A offices. I will put the price close to Duo Tower going for $8psf, both Grade A, big floor plates and next to MRT Interchanges.

    Thats one of the true advantage of buying into a 3-in-1 S$3.2billion mixed development, the developer can play with commercial and residential costs-profits. For owners, its a risk spread because you are really buying into the entire real estate. Residential to recoup costs quickly, use those monies to fund commercial-retail building costs which are really for long term profits through rents. There will be more of such developments in future, investors just need to tune in but prepare to pay future prices.

    For Phase II, it will be for those who want to see something being announced before they buy into it. For example, if LandLease announced high tenancy or a MNC taking multiple floors or government announcing something in the pipeline for Paya Lebar Central Region (its in the URA Master Plan anyway so its a matter of time).

    40% launch units is a carefully devised plan during such weak times. No reason for them to put 2 full page ads on Saturday if they plan to sell 100% of the units. This is opposable thinking as developers will not hold back 100% release today. Saturday ballot tent already exceeded 1,000 hopefuls.

    Over a certain threshold of psf in this area will push back investors as I can see from the fence sitters inside the 'Thinking Box' busy pressing their calculators. I put this figure at $2,000psf for 1-BR in PPR which will put on some brakes. Who would have thought this is once a big swampland circa 1820-1830s asking for such a price today.

    2 cents,
    PropVestor

  16. #76
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    Quote Originally Posted by Kelonguni View Post
    I asked that before. I also asked, "Do you see GCB in non-CCR area?"
    have. there are designated GCB areas in thomson and upper bukit timah which are not CCR.

  17. #77
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    Quote Originally Posted by Red Dot2 View Post
    Do you mean landlease charged double the psf hence managed to break even by selling just 50% of the units? I read on the internet that their breakeven point is 1800psf so would like to clarify..
    they didn't "double charge". they breakeven after a certain point and whatever price buyers were willing to buy on fri and sat minus that breakeven is their well deserved profits.

    the breakeven price is likely < 1800psf since the cost of land is 900+psf.

  18. #78
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    Usually i saw on newspaper the estimated break event point is around 500 above land price? And add 200 for profit. So expecting min of 1600+ psf selling price

  19. #79
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    Quote Originally Posted by Tomutomi View Post
    Usually i saw on newspaper the estimated break event point is around 500 above land price? And add 200 for profit. So expecting min of 1600+ psf selling price
    Buying the PLQ land at $900+psf, do you think Landlease overpaid?

    Does the integrated biz hub theme & the Developer's claim that buyervs are not just buying a residential unit but "an entire integrated biz hub" justify the $1.7k psf?

  20. #80
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    It depends if landlease can create a real value on it. I guess it depends on how successfull the office and retail, who renting the grade A office thus potential tenants to pay the high residential rental price there.

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